Quarterly ResultMay 5, 2026, 10:21 AM
Tompkins Q1 Net Income $26.07M, EPS $1.83; up 32.5% YoY
AI Summary
Tompkins Financial Corporation reported a significant increase in net income for Q1 2026, reaching $26.07 million, up 32.5% year-over-year. Basic earnings per share also rose to $1.83. This growth was driven by a substantial increase in net interest income and a lower provision for credit losses, despite a decrease in noninterest income primarily due to the sale of its insurance subsidiary in late 2025. The company also increased its cash dividend per share.
Key Highlights
- Net income increased 32.5% to $26.07 million for Q1 2026, compared to $19.68 million in Q1 2025.
- Basic earnings per share rose 32.6% to $1.83 in Q1 2026, up from $1.38 in Q1 2025.
- Net interest income grew 26.8% to $71.86 million in Q1 2026, from $56.66 million in Q1 2025.
- Provision for credit loss expense decreased 71.6% to $1.50 million in Q1 2026, from $5.29 million in Q1 2025.
- Noninterest income decreased 52.7% to $11.83 million, primarily due to the sale of the insurance subsidiary.
- Total deposits increased to $7.05 billion as of March 31, 2026, from $6.94 billion at December 31, 2025.
- Net loans and leases increased to $6.42 billion as of March 31, 2026, from $6.39 billion at December 31, 2025.
- Cash dividends per share increased 8.1% to $0.67 for Q1 2026, from $0.62 in Q1 2025.