Tompkins Financial Corporation. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011
January 25, 2012 at 09:00 am EST
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Tompkins Financial Corporation. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net income attributable to the company of $9,387,000 or $0.84 per basic and diluted share against $8,892,000 or $0.81 per diluted share a year ago. Income before income tax expense was $13,836,000 against $13,526,000 a year ago. Net interest income after provision for loan and lease losses was $26,839,000 against $26,428,000 for the comparable period of last year. Total interest and dividend income was $33,913,000 against $35,234,000 a year ago. Net interest income was $27,999,000 against $27,861,000 a year ago. Book value per share was $26.89 versus $25.09 for the same period last year. Return on average assets and return on average equity were 1.11% and 12.07% against 1.09% and 12.60% for the same period a year ago.
For the full year, the company reported net income attributable to the company of $35,419,000 or $3.20 per diluted share against $33,831,000 or $3.11 per diluted share a year ago. Income before income tax expense was $51,923,000 against $50,382,000 a year ago. Net interest income was $111,406,000 against $111,775,000 a year ago. Net interest income after provision for loan and lease losses was $102,461,000 against $103,268,000 a year ago. Total interest and dividend income was $137,088,000 against $144,062,000 a year ago. Return on average assets and return on average equity were 1.07% and 12.02%.
Tompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. The Company's segments include banking, insurance and wealth management. The banking segment provides services consisting primarily of deposits from the areas served by the Company's banking subsidiary and using those deposits to originate a variety of commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. The insurance segment provides services, such as property and casualty insurance, employee benefit consulting, life, long-term care and disability insurance. The wealth management segment provides services, including investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. Its wealth management services are provided under the trade name Tompkins Financial Advisors.