Condensed Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Parent Company Only Financial Statements

Condensed Parent Company Only Financial Statements

Condensed financial statements for Tompkins (the Parent Company) as of December 31, are presented below. 

Condensed Statements of Condition
(in thousands)	2017		2016
Assets
Cash	$	3,326	$	28,398
Investment in subsidiaries, at equity	586,976		563,691
Other	10,686		10,345
Total Assets	$	600,988	$	602,434
Liabilities and Shareholders’ Equity
Borrowings	$	9,000	$	16,000
Trust preferred debentures issued to non-consolidated subsidiary	16,691		37,681
Other liabilities	517		800
Tompkins Financial Corporation Shareholders’ Equity	574,780		547,953
Total Liabilities and Shareholders’ Equity	$	600,988	$	602,434

Condensed Statements of Income
(in thousands)	2017		2016		2015
Dividends from available-for-sale securities	$	0	$	0	$	2
Dividends received from subsidiaries	33,522		47,584		28,667
Other income	281		269		593
Total Operating Income	33,803		47,853		29,262
Interest expense	1,550		2,743		2,648
Other expenses	6,120		6,089		5,996
Total Operating Expenses	7,670		8,832		8,644
Income Before Taxes and Equity in Undistributed
Earnings of Subsidiaries	26,133		39,021		20,618
Income tax benefit	1,867		3,549		2,987
Equity in undistributed earnings of subsidiaries	24,494		16,770		34,816
Net Income	$	52,494	$	59,340	$	58,421

Condensed Statements of Cash Flows
(in thousands)	2017			2016			2015
Operating activities
Net income	$	52,494		$	59,340		$	58,421
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed earnings of subsidiaries	(24,494		)	(16,770		)	(34,816		)
Other, net	(1,569		)	1,826			1,511
Net Cash Provided by Operating Activities	26,431			44,396			25,116
Investing activities
Other, net	1,052			24			81
Net Cash Provided by Investing Activities	1,052			24			81
Financing activities
Borrowings, net	(28,161		)	2,490			0
Cash dividends	(27,627		)	(26,603		)	(25,411		)
Repurchase of common shares	0			(1,166		)	(3,505		)
Net shares issued related to restricted stock awards	(1,294		)	(835		)	(195		)
Shares issued for dividend reinvestment plans	2,872			3,201			0
Shares issued for employee stock ownership plan	2,296			1,938			1,595
Net proceeds from exercise of stock options	(641		)	(806		)	1,382
Common stock issued	0			0			50
Net Cash Used in Financing Activities	(52,555		)	(21,781		)	(26,084		)
Net (decrease) increase in cash	(25,072		)	22,639			(887		)
Cash at beginning of year	28,398			5,759			6,646
Cash at End of Year	$	3,326		$	28,398		$	5,759

A Statement of Changes in Shareholders’ Equity has not been presented since it is the same as the Consolidated Statement of Changes in Shareholders’ Equity previously presented.