TMP · Tompkins Financial Corporation

Tompkins Financial Corporation reported record first quarter 2026 earnings, with diluted EPS of $1.82, up 32.8% from $1.37 in Q1 2025. Net income rose to $26.1 million from $19.7 million a year ago. The strong performance was driven by a 26.8% increase in net interest income to $71.9 million, reflecting a 59 basis point expansion in net interest margin to 3.57%. Loan growth of 6.8% year-over-year and lower funding costs contributed to margin improvement. Average loan balances increased $409.5 million, primarily in commercial real estate and commercial and industrial portfolios. Total deposits grew 4.5% to $7.1 billion, while the cost of interest-bearing deposits declined 17 bps to 2.06%. Noninterest income fell 52.7% to $11.8 million, mainly due to the sale of Tompkins Insurance Agencies in Q4 2025, which removed $11.6 million in insurance revenue. Noninterest expense decreased 5.7% to $47.7 million, largely from lower salaries and benefits following the sale. Asset quality remained stable, with the allowance for credit losses at 0.90% of total loans and nonperforming assets at 0.59% of total assets. The company also declared a quarterly dividend of $0.67 per share, a 7.5% increase from the prior year, payable May 15, 2026. Management highlighted healthy loan and deposit growth, expanding net interest margin, and a flexible balance sheet with strong capital and liquidity.