XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net income attributable to Tompkins Financial Corporation $ 85,030 $ 89,264 $ 77,588
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (credit) for credit loss expense 2,789 (2,219) 17,213
Depreciation and amortization of premises, equipment, and software 10,684 10,250 10,192
Amortization of intangible assets 873 1,317 1,484
Earnings from corporate owned life insurance (1,162) (1,879) (2,188)
Net amortization on securities 5,595 11,758 10,737
Amortization/accretion related to purchase accounting (921) (912) (1,066)
Deferred income tax expense (benefit) 910 1,798 (6,284)
Net loss (gain) on securities transactions 634 (249) (443)
Penalties on prepayment of FHLB borrowings 0 2,929 0
Net gain on sale of loans originated for sale (155) (943) (2,054)
Proceeds from sale of loans originated for sale 9,018 32,460 53,726
Loans originated for sale (8,658) (27,354) (55,232)
Loss on redemption of trust preferred debentures 0 1,845 139
Net gain on sale of bank premises and equipment (105) (21) (3)
Net excess tax benefit from stock based compensation 365 609 118
Stock-based compensation expense 4,343 5,145 4,733
Decrease in accrued interest receivable (2,268) 9,428 (12,732)
Decrease in accrued interest payable 519 (826) (759)
Other, net (4,151) (11,223) 6,218
Net Cash Provided by Operating Activities 103,340 121,177 101,387
INVESTING ACTIVITIES      
Proceeds from maturities, calls and principal paydowns of available-for-sale debt securities 208,655 453,735 545,617
Proceeds from sales of available-for-sale debt securities 160,638 142,679 42,333
Purchases of available-for-sale debt securities (154,820) (1,071,810) (904,913)
Purchases of held-to-maturity securities (28,320) (283,992) 0
Proceeds from sale of VISA Class B shares 11,407 0 0
Net (increase) decrease in loans (193,010) 175,162 (340,475)
Proceeds from sale/redemptions of Federal Home Loan Bank stock 81,402 9,182 42,706
Purchases of Federal Home Loan Bank and other stock (88,126) (3,796) (25,393)
Proceeds from sale of bank premises and equipment 223 95 22
Purchases of bank premises, equipment and software (8,168) (4,741) (4,551)
Redemption of corporate owned life insurance 2,106 169 446
Other, net (431) 23 489
Net Cash Used in Investing Activities (8,444) (583,294) (643,719)
FINANCING ACTIVITIES      
Net (decrease) increase in demand, money market, and savings deposits (180,877) 460,243 1,153,611
Net (decrease) increase in time deposits (7,740) (106,063) 71,809
Net (decrease) increase in Federal funds purchased and securities sold under agreements to repurchase (10,509) 942 5,499
Increase in other borrowings 435,900 14,000 74,583
Repayment of other borrowings (268,600) (157,929) (467,683)
Redemption of trust preferred debentures 0 (15,150) (4,124)
Cash dividends (33,565) (32,415) (31,359)
Repurchase of common stock (15,430) (23,773) (9,414)
Shares issued for dividend reinvestment plan 0 2 1,825
Shares issued for employee stock ownership plan 2,951 0 0
Net shares issued related to restricted stock awards (1,758) (2,292) (1,682)
Net proceeds from exercise of stock options (538) (803) (253)
Net Cash (Used) Provided by Financing Activities (80,166) 136,762 792,812
Net Increase (Decrease) in Cash and Cash Equivalents 14,730 (325,355) 250,480
Cash and cash equivalents at beginning of period 63,107 388,462 137,982
Total Cash and Cash Equivalents at End of Period 77,837 63,107 388,462
Supplemental Cash Flow Information      
Cash paid during the year for - Interest 21,047 16,920 30,340
Cash paid during the year for - Taxes 23,898 28,630 22,893
Transfer of loans to other real estate owned 351 46 192
Right-of-use assets obtained in exchange for new lease liabilities $ 2,498 $ 2,280 $ 1,256