Tompkins Financial Corporation Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 29, 2016 at 07:30 pm IST
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Tompkins Financial Corporation reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net interest income was $43,437,000 compared with $41,692,000 for the same period last year. Income before income tax expense was $20,444,000 compared with $19,175,000 for the same period last year. Net income attributable to tompkins financial corporation was $13,854,000 or $0.92 diluted per share compared with $12,689,000 or $0.85 diluted per share for the same period last year. Common equity book value per share was $34.38 compared with $32.77 for the same period last year. Tangible book value per share (Non-GAAP) was $27.48 compared with $25.66 for the same period last year. Return on average assets was 0.98% compared with 0.97% for the same period last year. Return on average equity was 10.63% compared with 10.16% for the same period last year. Net operating income (Non-GAAP) was $13,625,000 compared with $12,539,000 for the same period last year. Adjusted diluted earnings per share (Non-GAAP) was $0.92 compared with $0.85 for the same period last year.
For the twelve months, the company reported was $168,381,000 compared with $163,810,000 for the same period last year. Income before income tax expense was $87,514,000 compared with $77,576,000 for the same period last year. Net income attributable to tompkins financial corporation was $58,421,000 or $3.87 diluted per share compared with $52,041,000 or $3.48 diluted per share for the same period last year. Common equity book value per share was $34.38 and tangible book value per share (Non-GAAP) was $27.48. Return on average assets was 1.07% and return on average equity was 11.51% compared with 10.16% for the same period last year. Net operating income (Non-GAAP) was $53,985,000 compared with $51,538,000 for the same period last year. Adjusted diluted earnings per share (Non-GAAP) was $3.63 compared with $3.48 for the same period last year.
Tompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. The Company's segments include banking, insurance and wealth management. The banking segment provides services consisting primarily of deposits from the areas served by the Company's banking subsidiary and using those deposits to originate a variety of commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. The insurance segment provides services, such as property and casualty insurance, employee benefit consulting, life, long-term care and disability insurance. The wealth management segment provides services, including investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. Its wealth management services are provided under the trade name Tompkins Financial Advisors.