Last $48.24 USD
Change Today +0.44 / 0.92%
Volume 14.0K
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

tompkins financial corp (TMP) Key Developments

Tompkins Financial Seeks Acquisitions

Tompkins Financial Corporation (AMEX:TMP) seeks acquisitions. Tompkins Financial has filed a Shelf Registration in the amount of $70.00 million. Tompkins Financial will use the proceeds for investing in, or extending credit to, our operating subsidiaries; investments at the holding company level; reducing or refinancing existing debt; possible acquisitions; stock repurchases; and other purposes.

Tompkins Financial Corporation Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2013

Tompkins Financial Corporation reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2013. The company reported diluted earnings per share of $0.96 for the fourth quarter of 2013 against $0.77 for the same period of last year. After adjusting for non-recurring income and expenses, quarter-to-date diluted earnings per share would have been $0.91 for the fourth quarter of 2013, up from $0.81 for the same period last year. Net interest income for the fourth quarter of 2013 represents an increase of 1.9% over the same quarter last year, and 5.3%, from the third quarter of 2013. Total interest and dividend income was $48,308,000 against $48,768,000 for the same period of last year. Net interest income was 42,624,000 against $41,849,000 for the same period of last year. Income before income tax expense was 19,227,000 against $13,610,000 for the same period of last year. Net income attributable to the company was $14,290,000 against $11,161,000 for the same period of last year. Return on average assets was 1.15% and return on average equity was 12.62% against return on average assets of 0.91% and return on average equity of 10.01% for the same period of last year. Year-to-date diluted earnings per share was $3.46 for the year ended December 31, 2013, up from $2.43 per share reported for the same period in 2012. On a year-to-date basis, adjusting for non-recurring items, diluted earnings per share would have been $3.36 for the year ended December 31, 2013, compared to $3.17 for the same period last year. For the year to date period, net interest income reflects an increase of 20.1% over the same period in 2012. Total interest and dividend income was 185,104,000 against $158,356,000 for the same period of last year. Net interest income was 161,129,000 against $134,143,000 for the same period of last year. Income before income tax expense was 71,764,000 against $42,506,000 for the same period of last year. Net income attributable to the company was $50,856,000 against $31,285,000 for the same period of last year. Return on average assets was 1.03% and return on average equity was 11.47%.

Tompkins Financial Corporation Approves Quarterly Cash Dividend, Payable on February 14, 2014

Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.40 per share, payable on February 14, 2014, to common shareholders of record on February 3, 2014.

Reeder D. Gates Intends to Retire from the Board of Directors of Tompkins Financial Corporation

On January 14, 2014, Reeder D. Gates informed Tompkins Financial Corporation that he intends to retire from the company's board of directors when his current term expires at the Company's 2014 Annual Meeting of Shareholders.

Tompkins Financial Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Tompkins Financial Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net interest income was $40.47 million against $36.74 million a year ago. Net interest income for the quarter was up $647,000, or 1.6%, from the second quarter of 2013, primarily due to growth in average loans and noninterest-bearing deposits. Income before income tax expense was $19.4 million against $4.28 million a year ago. Net income attributable to the company was $14.05 million against $3.5 million a year ago. Diluted earnings per share were $0.95 against $0.25 a year ago. Book value per share was $30.24 against $30.71 a year ago. Tangible book value per share (non-GAAP) was $22.82 against $22.71 a year ago. Return on average assets was 1.14% against 0.31% a year ago. Return on average equity was 12.83% against 3.38% a year ago. Non GAAP net operating income was $13.2 million against $11.91 million a year ago. Adjusted diluted earnings per share were $0.90 against $0.87 a year ago. Adjusted net operating income (non GAAP) was $13.53 million against $12.17 million a year ago. Adjusted operating return on shareholders' tangible equity (annualized) (non-GAAP) was 16.51% against 15.24% a year ago. For the nine months, the company reported net interest income was $118.5 million against $92.29 million a year ago. Income before income tax expense was $52.54 million against $28.9 million a year ago. Net income attributable to the company was $36.56 million against $20.12 million a year ago. Diluted earnings per share were $2.50 against $1.63 a year ago. Non GAAP net operating income was $35.86 million against $29.09 million a year ago. Adjusted diluted earnings per share were $2.45 against $2.36 a year ago. Both current and prior period results were impacted by certain non-recurring items including, but not limited to, merger related expenses associated with the acquisition of VIST Financial Corporation completed on August 1, 2012.

 

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Valuation TMP Industry Range
Price/Earnings 13.9x
Price/Sales 3.1x
Price/Book 1.6x
Price/Cash Flow 14.1x
TEV/Sales 0.4x
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