Segment and Related Information (Tables)

12 Months Ended

Dec. 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 and financial 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 Note 1 “Summary of Significant Accounting Policies” in this Report.


As of and for the year ended December 31, 2021
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	241,322	$	11	$	0	$	(15)	$	241,318
Interest expense	17,541		0		0		(15)		17,526
Net interest income	223,781		11		0		0		223,792
Credit for credit loss expense	(2,219)		0		0		0		(2,219)
Noninterest income	25,944		35,430		19,727		(2,252)		78,849
Noninterest expense	152,624		26,857		13,058		(2,252)		190,287
Income before income tax expense	99,320		8,584		6,669		0		114,573
Income tax expense	21,257		2,326		1,599		0		25,182
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	78,063		6,258		5,070		0		89,391
Less: Net income attributable to noncontrolling interests	127		0		0		0		127
Net Income attributable to Tompkins Financial Corporation	$	77,936	$	6,258	$	5,070	$	0	$	89,264

Depreciation and amortization	$	9,987	$	208	$	55	$	0	$	10,250
Assets	7,794,561		42,879		33,735		(51,193)		7,819,982
Goodwill	64,370		19,866		8,211		0		92,447
Other intangibles, net	1,571		2,004		68		0		3,643
Net loans and leases	5,032,624		0		0		0		5,032,624
Deposits	6,802,852		0		0		(11,417)		6,791,435
Total equity	664,800		33,171		30,970		0		728,941


As of and for the year ended December 31, 2020
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	254,330	$	4	$	0	$	(4)	$	254,330
Interest expense	28,995		0		0		(4)		28,991
Net interest income	225,335		4		0		0		225,339
Provision for credit loss expense	17,213		0		0		0		17,213
Noninterest income	26,015		31,930		18,131		(2,216)		73,860
Noninterest expense	147,680		25,941		12,915		(2,216)		184,320
Income before income tax expense	86,457		5,993		5,216		0		97,666
Income tax expense	17,033		1,625		1,266		0		19,924
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	69,424		4,368		3,950		0		77,742
Less: Net income attributable to noncontrolling interests	154		0		0		0		154
Net Income attributable to Tompkins Financial Corporation	$	69,270	$	4,368	$	3,950	$	0	$	77,588

Depreciation and amortization	$	9,912	$	229	$	51	$	0	$	10,192
Assets	7,564,342		41,812		28,616		(12,599)		7,622,171
Goodwill	64,370		19,866		8,211		0		92,447
Other intangibles, net	2,418		2,398		89		0		4,905
Net loans and leases	5,208,658		0		0		0		5,208,658
Deposits	6,449,289		0		0		(11,537)		6,437,752
Total equity	660,334		31,455		25,900		0		717,689


As of and for the year ended December 31, 2019
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	261,378	$	3	$	0	$	(3)	$	261,378
Interest expense	50,753		0		0		(3)		50,750
Net interest income	210,625		3		0		0		210,628
Provision for credit loss expense	1,366		0		0		0		1,366
Noninterest income	29,054		31,501		17,001		(2,123)		75,433
Noninterest expense	145,102		25,908		12,947		(2,123)		181,834
Income before income tax expense	93,211		5,596		4,054		0		102,861
Income tax expense	18,598		1,426		992		0		21,016
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	74,613		4,170		3,062		0		81,845
Less: Net income attributable to noncontrolling interests	127		0		0		0		127
Net Income attributable to Tompkins Financial Corporation	$	74,486	$	4,170	$	3,062	$	0	$	81,718

Depreciation and amortization	9,778		225		41		0		$	10,044
Assets	6,671,409		41,841		24,313		(11,940)		6,725,623
Goodwill	64,370		19,866		8,211		0		92,447
Other intangibles, net	3,215		2,860		148		0		6,223
Net loans and leases	4,877,658		0		0		0		4,877,658
Deposits	5,223,893		0		0		(10,972)		5,212,921
Total equity	608,901		32,204		21,949		0		663,054