Tompkins Q2 EPS $0.59, down 59% YoY; securities sale loss of $7.1M

TOMPKINS FINANCIAL CORP

2023-Q2 EPS reported $1.94 revenue$37,197,000

Diluted EPS $0.59 vs $1.45 a year ago; net income $8.5M, down $12.4M.
Pre-tax loss of $7.1M on sale of $80.9M AFS securities (yield 0.48%); proceeds cut FHLB borrowings.
Loans grew 6% annualized vs Q1 to $5.4B; deposits fell 4.65% YoY to $6.5B (pace slowed).
Net interest margin narrowed to 2.83% from 3.09%; net interest income down $6.4M to $51.9M.
Board declared $0.60 quarterly dividend (payable Aug 12) and authorized new 400k-share buyback program.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TOMPKINS FINANCIAL CORP reported the second quarter of 2023 results: net income $8.5 million, EPS $0.59 per diluted share.

Period: the second quarter of 2023
Net income: $8.5 million
EPS: $0.59 per diluted share
Result: reported results

Exact text from the filing

Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $0.59 for the second quarter of 2023, down 56.3% from the immediate prior quarter, and down 59.3% from diluted earnings per share of $1.45 reported in the second quarter of 2022. Net income for the second quarter of 2023 was $8.5 million, down $12.4 million, or 59.4%, when compared to the $20.9 million reported for the same period in 2022.

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Source: SEC EDGAR

accession 0001005817-23-000007

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