Segment and Related Information (Table)

9 Months Ended

Sep. 30, 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 2020 Annual Report on Form 10-K.


As of and for the three months ended September 30, 2021
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	61,110	$	8	$	0	$	(4)	$	61,114
Interest expense	5,020		0		0		(4)		5,016
Net interest income	56,090		8		0		0		56,098
(Credit) provision for credit loss expense	(1,232)		0		0		0		(1,232)
Noninterest income	6,416		9,950		5,047		(559)		20,854
Noninterest expense	40,587		6,846		3,306		(559)		50,180
Income before income tax expense	23,151		3,112		1,741		0		28,004
Income tax expense	5,351		855		424		0		6,630
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	17,800		2,257		1,317		0		21,374
Less: Net income attributable to noncontrolling interests	32		0		0		0		32
Net Income attributable to Tompkins Financial Corporation	$	17,768	$	2,257	$	1,317	$	0	$	21,342

Depreciation and amortization	$	2,528	$	52	$	14	$	0	$	2,594
Assets	8,051,446		45,855		32,257		(16,448)		8,113,110
Goodwill	64,370		19,866		8,211		0		92,447
Other intangibles, net	1,814		2,102		73		0		3,989
Net loans and leases	5,050,519		0		0		0		5,050,519
Deposits	7,105,651		0		0		(14,753)		7,090,898
Total Equity	659,365		33,529		29,463		0		722,357


As of and for the three months ended September 30, 2020
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	64,316	$	1	$	0	$	(1)	$	64,316
Interest expense	6,064		0		0		(1)		6,063
Net interest income	58,252		1		0		0		58,253
Provision for credit loss expense	(218)		0		0		0		(218)
Noninterest income	5,976		9,023		4,434		(546)		18,887
Noninterest expense	37,405		6,559		3,348		(546)		46,766
Income before income tax expense	27,041		2,465		1,086		0		30,592
Income tax expense	5,397		670		263		0		6,330
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	21,644		1,795		823		0		24,262
Less: Net income attributable to noncontrolling interests	32		0		0		0		32
Net Income attributable to Tompkins Financial Corporation	$	21,612	$	1,795	$	823	$	0	$	24,230

Depreciation and amortization	$	2,474	$	57	$	18	$	0	$	2,549
Assets	7,738,933		42,269		26,956		(13,656)		7,794,502
Goodwill	64,585		19,866		7,996		0		92,447
Other intangibles, net	2,600		2,507		104		0		5,211
Net loans and leases	5,346,004		0		0		0		5,346,004
Deposits	6,613,421		0		0		(12,183)		6,601,238
Total Equity	657,370		32,095		24,146		0		713,611


As of and for the nine months ended September 30, 2021
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	180,708	$	10	$	0	$	(14)	$	180,704
Interest expense	14,737		0		0		(14)		14,723
Net interest income	165,971		10		0		0		165,981
(Credit) provision for credit loss expense	(6,133)		0		0		0		(6,133)
Noninterest income	19,175		27,531		14,638		(1,649)		59,695
Noninterest expense	113,792		20,044		9,946		(1,649)		142,133
Income before income tax expense	77,487		7,497		4,692		0		89,676
Income tax expense	16,595		2,057		1,129		0		19,781
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	60,892		5,440		3,563		0		69,895
Less: Net income attributable to noncontrolling interests	96		0		0		0		96
Net Income attributable to Tompkins Financial Corporation	$	60,796	$	5,440	$	3,563	$	0	$	69,799

Depreciation and amortization	$	7,493	$	162	$	41	$	0	$	7,696


As of and for the nine months ended September 30, 2020
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	190,960	$	3	$	0	$	(3)	$	190,960
Interest expense	23,375		0		0		(3)		23,372
Net interest income	167,585		3		0		0		167,588
Provision for credit loss expense	17,418		0		0		0		17,418
Noninterest income	19,217		24,533		12,903		(1,629)		55,024
Noninterest expense	110,114		19,479		9,740		(1,629)		137,704
Income before income tax expense	59,270		5,057		3,163		0		67,490
Income tax expense	11,665		1,362		752		0		13,779
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	47,605		3,695		2,411		0		53,711
Less: Net income attributable to noncontrolling interests	101		0		0		0		101
Net Income attributable to Tompkins Financial Corporation	$	47,504	$	3,695	$	2,411	$	0	$	53,610

Depreciation and amortization	$	7,443	$	173	$	38	$	0	$	7,654