Condensed Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Condensed financial statements for Tompkins (the Parent Company) as of December 31, 2020, 2019 and 2018 are presented below.


Condensed Statements of Condition
(In thousands)	2020		2019
Assets
Cash	$	16,588	$	14,631

Investment in subsidiaries, at equity	707,721		664,775
Other	5,965		3,873
Total Assets	$	730,274	$	683,279
Liabilities and Shareholders’ Equity
Borrowings	0		4,000
Trust preferred debentures issued to non-consolidated subsidiary	13,220		17,035
Other liabilities	777		602
Tompkins Financial Corporation Shareholders’ Equity	716,277		661,642
Total Liabilities and Shareholders’ Equity	$	730,274	$	683,279


Condensed Statements of Income
(In thousands)	2020		2019		2018

Dividends received from subsidiaries	$	60,818	$	72,827	$	44,518
Other income	52		240		332
Total Operating Income	$	60,870	$	73,067	$	44,850
Interest expense	1,241		1,450		1,468
Other expenses	9,184		8,409		7,222
Total Operating Expenses	$	10,425	$	9,859	$	8,690
Income Before Taxes and Equity in Undistributed
Earnings of Subsidiaries	50,445		63,208		36,160
Income tax benefit	2,160		2,085		1,687
Equity in undistributed earnings of subsidiaries	24,983		16,425		44,461
Net Income	$	77,588	$	81,718	$	82,308


Condensed Statements of Cash Flows
(In thousands)	2020		2019		2018
Operating activities
Net income	$	77,588	$	81,718	$	82,308
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed earnings of subsidiaries	(24,983)		(16,425)		(44,461)
Other, net	(1,541)		3,209		1,014
Net Cash Provided by Operating Activities	51,064		68,502		38,861
Investing activities
Other, net	(100)		3,265		0
Net Cash (Used in) Provided by Investing Activities	(100)		3,265		0
Financing activities

Borrowings, net	(4,000)		0		(5,000)
Cash dividends	(31,359)		(30,637)		(29,634)
Repurchase of common shares	(9,414)		(29,867)		(2,448)
Redemption of trust preferred debentures	(4,124)		0		0
Net proceeds from restricted stock awards	(1,682)		(1,875)		(1,403)
Shares issued for dividend reinvestment plan	1,825		0		0
Shares issued for employee stock ownership plan	0		0		3,073
Net proceeds from exercise of stock options	(253)		(992)		(540)


Net Cash Used in Financing Activities	(49,007)		(63,371)		(35,952)
Net increase in cash	1,957		8,396		2,909
Cash at beginning of year	14,631		6,235		3,326
Cash at End of Year	$	16,588	$	14,631	$	6,235