Tompkins Financial Q4 EPS $1.05, down 22.8% YoY; full-year EPS $0.66, down 88.8% on $52.9M securities loss

TOMPKINS FINANCIAL CORP

2023-FY EPS reported $0.66 revenue$75,027,000

Q4 net income $15.0M ($1.05 diluted EPS) vs $19.5M ($1.36) in Q4 2022; FY net income $9.5M ($0.66) vs $85.0M ($5.89) in FY 2022.
FY includes after-tax $52.9M loss on sale of $510.5M available-for-sale securities; reinvested at ~5.09% yield vs 0.86% sold.
Q4 net interest margin expanded to 2.82% (from 2.75% in Q3); loans grew 3.2% QoQ (12.6% annualized), deposits declined 3.4% QoQ.
Nonperforming assets ratio rose to 0.80% from 0.41% QoQ due to $33.8M addition from one hospitality relationship.
Board declared $0.60/share quarterly dividend, payable Feb 16, 2024 to holders of record Feb 9, 2024.

item 2.02 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TOMPKINS FINANCIAL CORP reported the fourth quarter of 2023 results: net income $15.0 million, EPS $1.05.

Period: the fourth quarter of 2023
Net income: $15.0 million
EPS: $1.05
Result: reported results

Exact text from the filing

Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $1.05 for the fourth quarter of 2023, down 22.8% compared to the fourth quarter of 2022. Net income for the fourth quarter of 2023 was $15.0 million, down $4.5 million or 23.3% compared to the $19.5 million reported for the fourth quarter of 2022.

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Source: SEC EDGAR

accession 0001005817-24-000002

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