Segment and Related Information (Table)

3 Months Ended

Mar. 31, 2021

Schedule of segment and related information

Summarized financial information concerning the Company’s reportable segments and the reconciliation to the Company’s consolidated results is shown in the following table. Investment in subsidiaries is netted out of the presentations below. The “Intercompany” column identifies the intercompany activities of revenues, expenses and other assets between the banking, insurance and wealth management services segments. The Company accounts for intercompany fees and services at an estimated fair value according to regulatory requirements for the services provided. Intercompany items relate primarily to the use of human resources, information systems, accounting and marketing services provided by any of the banks and the holding company. All other accounting policies are the same as those described in the summary of significant accounting policies in the Company's 2020 Annual Report on Form 10-K.


Three months ended March 31, 2021
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	59,755	$	0	$	0	$	(1)	$	59,754
Interest expense	4,718		0		0		(1)		4,717
Net interest income	55,037		0		0		0		55,037
Provision for credit loss expense	(2,510)		0		0		0		(2,510)
Noninterest income	6,318		9,413		4,782		(530)		19,983
Noninterest expense	36,009		6,435		3,277		(530)		45,191
Income before income tax expense	27,856		2,978		1,505		0		32,339
Income tax expense	5,515		801		364		0		6,680
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	22,341		2,177		1,141		0		25,659
Less: Net income attributable to noncontrolling interests	33		0		0		0		33
Net Income attributable to Tompkins Financial Corporation	$	22,308	$	2,177	$	1,141	$	0	$	25,626

Depreciation and amortization	$	2,436	$	56	$	14	$	0	$	2,506
Assets	8,038,864		43,084		29,091		(15,697)		8,095,342
Goodwill	64,370		19,866		8,211		0		92,447
Other intangibles, net	2,218		2,299		84		0		4,601
Net loans and leases	5,243,454		0		0		0		5,243,454
Deposits	6,961,266		0		0		(14,725)		6,946,541
Total Equity	$	650,326	$	32,569	$	27,041	$	0	$	709,936


Three months ended March 31, 2020
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	63,199	$	1	$	0	$	(1)	$	63,199
Interest expense	10,231		0		0		(1)		10,230
Net interest income	52,968		1		0		0		52,969
Provision for credit loss expense	16,294		0		0		0		16,294
Noninterest income	6,992		8,150		4,374		(556)		18,960
Noninterest expense	36,689		6,562		3,045		(556)		45,740
Income before income tax expense	6,977		1,589		1,329		0		9,895
Income tax expense	1,157		430		322		0		1,909
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	5,820		1,159		1,007		0		7,986
Less: Net income attributable to noncontrolling interests	37		0		0		0		37
Net Income attributable to Tompkins Financial Corporation	$	5,783	$	1,159	$	1,007	$	0	$	7,949

Depreciation and amortization	$	2,485	$	59	$	10	$	0	$	2,554
Assets	6,690,574		41,444		24,562		(13,466)		6,743,114
Goodwill	64,585		19,866		7,996		0		92,447
Other intangibles, net	2,972		2,741		134		0		5,847
Net loans and leases	4,885,418		0		0		0		4,885,418
Deposits	5,422,258		0		0		(12,895)		5,409,363
Total Equity	$	627,223	$	32,632	$	22,742	$	0	$	682,597