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Net income rises 9 percent in Q1 at Tompkins Financial

Rochester Business Journal
April 25, 2014

Tompkins Financial Corp. on Friday reported a 9 percent increase in first-quarter income and matched analyst expectations for earnings per share.

The Ithaca-based company reported net income of $12.6 million, or 84 cents a diluted share, up from $11.5 million, or 79 cents a diluted share, in the first quarter of 2013.

“We are pleased to start 2014 with the strongest first quarter in our history,” President and CEO Stephen Romaine said in statement.

“In addition to earnings per share growth over the first quarter of 2013, loan and deposit levels increased from the same period last year, and from the most recent prior quarter. At the same time we saw continued improvement in nearly all credit quality indicators.”

Tompkins subsidiary the Bank of Castile ranks ninth in the Rochester market with local deposits of $803 million, data compiled by the Federal Deposit Insurance Corp. shows.

Tompkins also is the parent of Tompkins Financial Advisors and Batavia-based Tompkins Insurance Agencies Inc.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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