other material
confidence high
sentiment neutral
materiality 0.75
Tompkins Financial Q3 EPS $1.45 vs $1.63 YoY; dividend raised to $0.57/share (+5.6%); new 400k share buyback authorized
TOMPKINS FINANCIAL CORP
- Q3 diluted EPS $1.45 vs $1.63 YoY; net income $21.3M vs $24.2M; nonrecurring charges of $4.1M ($0.21/share) for debt prepayment and trust preferred redemption.
- Year-to-date diluted EPS $4.72, up 31.5% from $3.59; net income $69.8M, up 30.2% from $53.6M.
- Board approved quarterly cash dividend of $0.57/share, a 5.6% increase from prior quarter; payable Nov 15, 2021 to holders of record Nov 2.
- Board authorized new repurchase of up to 400,000 shares over 24 months, replacing the existing program; company repurchased 170,775 shares in Q3 at $13.2M.
- Net interest margin 2.89% in Q3 2021 vs 3.26% in Q3 2020; total loans $5.1B, down from $5.4B YoY largely due to PPP decline.