---
schema_version: "secwatch.filing_event.v1"
accession: "0001005817-25-000043"
form_type: "8-K"
ticker: "TMP"
cik: "0001005817"
company_name: "TOMPKINS FINANCIAL CORP"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:48:32.136644+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Tompkins Financial sells insurance unit to Gallagher for $223M, gains $183M

## Summary
- Sold Tompkins Insurance Agencies to Arthur J. Gallagher & Co. for $223M cash; deal closed Oct 31, 2025.
- Pre-tax gain of $183M from sale; proceeds to be used for strategic investments and balance sheet flexibility.
- Sold $565M of low-yield debt securities (1.56% avg) at $79.5M pre-tax loss; reinvested at 4.52% avg yield.
- TIA leadership and all employees join Gallagher; former TIA CEO David Boyce receives $500K retention payment.

## SEC filing metadata
- accession: 0001005817-25-000043
- form_type: 8-K
- ticker: TMP
- cik: 0001005817
- company_name: TOMPKINS FINANCIAL CORP
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1005817/000100581725000043/0001005817-25-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005817/000100581725000043/tmp-20251031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001005817-25-000043
- JSON: https://secwatch.observer/filing/0001005817-25-000043.json
- Plain text: https://secwatch.observer/filing/0001005817-25-000043.txt

## Source-grounded claims
- claim_id: e1df1848e0c809050ca2a6fa71e61c9fba997064
  claim: TOMPKINS FINANCIAL CORP completed a disposition involving Arthur J. Gallagher Risk Management Services, LLC for $223,000,000 (closed 2025-10-31).
  evidence_excerpt: On October 31, 2025, Tompkins Financial Corporation (the “Company”), Tompkins Insurance Agencies, Inc. (“TIA”), a wholly-owned subsidiary of the Company, and Arthur J. Gallagher Risk Management Services, LLC, an affiliate of Arthur J. Gallagher & Co. (collectively, “Gallagher”) entered into a definitive stock purchase agreement (the “Purchase Agreement”), pursuant to which the Company sold all of the issued and outstanding shares of capital stock of TIA to Gallagher for a purchase price of $223,000,000, subject to customary adjustments for net working capital, indebtedness, cash and transaction expenses as set forth in the Purchase Agreement (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1005817/000100581725000043/0001005817-25-000043-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.