Tompkins Financial Corporation is a financial holding company and the corporate parent to three community banks, Tompkins Trust Company, The Bank of Castile, and Mahopac National Bank.  Tompkins Financial Corporation also has a wholly owned insurance subsidiary, Tompkins Insurance Agencies, Inc. and a wholly owned financial planning and wealth management subsidiary, AM&M Financial Services, Inc.  The banking division together operates 45 banking offices in local market areas throughout New York State.

Banking services consist primarily of attracting deposits from the areas served by the banking subsidiaries’ 39 banking offices and using those deposits to originate a variety of commercial loans, consumer loans, real estate loans and leases in those same areas.  Residential real estate mortgage loans are generally underwritten in accordance with Federal Home Loan Mortgage Corporation guidelines.  Tompkins Financial banks did not engage in subprime mortgage lending nor did the banks invested in securities backed by subprime mortgages.  The banks also do not hold any shares of Fannie Mae, Freddie Mac, Bear Stearns, Merrill Lynch, Lehman Brothers, AIG, or Washington Mutual stock.  In May 2008, Tompkins Financial Corporation completed the acquisition of another bank, Sleepy Hollow Bancorp.

A more detailed list of the retail banking services, include checking accounts, savings accounts, certificates of deposits, individual retirement accounts, brokerage services, residential mortgage loans, personal loans, home equity loans, credit cards, debit cards and safe deposit services.  Retail services are accessible through a variety of delivery systems with the banks including the bank branch facilities, automated teller machines (ATMs), voice response or telephone banking, Internet banking, and remote deposit services..

As part of the banks commercial services, Tompkins subsidiary banks provide financial services to corporations and other business clients.  These bank service include lending activities for a variety of business purposes, including real estate financing, construction, equipment financing, accounts receivable financing and commercial leasing.  Additional commercial services include deposit and cash management services, letters of credit, sweep accounts, credit cards, purchasing cards, Internet based account services and remote deposit services.

The company provides investment services and trust services through Tompkins Investment Services and AM&M Financial Services, Inc.  Tompkins Investment Services, with office locations at all three of the holding company’s subsidiary banks, provides a range of money management services, including investment management accounts, custody accounts, trusts, retirement plans and rollovers, estate settlement and financial planning.  AM&M Financial Services provides fee-based financial planning for small business owners, professionals and corporate executives and other individuals with complex financial needs.  AM&M Financial Services also provides wealth management services and operates a broker-dealer subsidiary, which is an outsourcing company for financial planners and investment advisors.  AM&M owns a fully registered NASD Broker Dealer.
 
Tompkins Insurance is an independent insurance agency, representing several major insurance carriers with access to special risk property and liability markets.  Tompkins Insurance offers personal and business insurance products.  Tompkins Insurance provides property and casualty insurance services and employee benefits consulting.  Tompkins Insurance has automated systems for record keeping, claim processing and coverage confirmation, and can provide insurance pricing comparisons from some of the country’s insurance companies.  In addition to its seven standalone offices, Tompkins Insurance shares several offices with The Bank of Castile and The Trust Company.  AM&M Financial Services also operates a subsidiary that creates customized risk management plans using life, disability and long-term care insurance products.

Tompkins assets total over $2.7 billion.  Each Tompkins Financial subsidiary operates under the direction of its own local management, to better focus on the needs of the communities served.

On October 22, 2008 Tompkins Financial Corporation released their third quarter earnings.

Tompkins Financial Corporation reported net income of $7.9 million for the third quarter of 2008, up 16.6% over net income of $6.8 million reported in the third quarter of 2007. For the first nine months of 2008, net income was $22.6 million up 19.1% over net income of $18.9 million for the same period in 2007.

Total assets were $2.7 billion at September 30, 2008, up $408.2 million or 17.6% from September 30, 2007. Total loans were $1.7 billion at September 30, 2008, representing a 24.2% increase from the prior year. Total deposits at September 30, 2008, were $2.1 billion, up 21.4% from September 30, 2007

Annualized net charge-offs for the first nine months of the year represented 0.18% of average loans, up from 0.10% for the first nine months of 2007.  Nonperforming assets represented 0.48% of total assets as of September 30, 2008, up from 0.37% at September 30, 2007.  Reflecting the trends in asset quality, provision expense increased from $387,000 for the quarter ended September 30, 2007, to $1.5 million for the quarter ended September 30, 2008.  For the year to date period, provision expense was $3.3 million in 2008, compared to $1.1 million in 2007.  The allowance for loan/lease losses represented 1.01% of total loans as of September 30, 2008, compared to 1.04% at September 30, 2007.

Balance sheet growth contributed to improved net interest income in 2008, for both the third quarter and year to date.  Net interest income of $24.0 million in the third quarter was up 29.9% over the same period in 2007.  For the year to date period, net interest income was $65.6 million, up 20.3% from the same period last year.  Net interest income also benefited from an improved net interest margin, which was 3.92% in the third quarter of 2008, compared to 3.61% in the third quarter of 2007.  For the first nine months of 2008, the net interest margin was 3.79%, compared to 3.61% for the first nine months of 2007.

Noninterest income for the third quarter of 2008 was $11.4 million, down slightly from $11.6 million for the same period in 2007. The economic climate has played a role in this trend as investment services fees, service charges on deposit accounts and card services income were all down slightly from the third quarter of 2007. For the year to date period, noninterest income was $35.7 million in 2008, up 8.7% over the $32.8 million reported for the year to date period in 2007.

Noninterest expenses for the third quarter of 2008 were $22.2 million, up 12.7% from the same period last year.  For the year to date period, noninterest expenses were $64.3 million in 2008, an increase of 10.0% from the same period in 2007.  The increase in both the current quarter and year to date periods is largely in the salary and wages and occupancy expense categories.  These expenses were directly impacted by the Sleepy Hollow acquisition with the addition of five staffed branches.  Prior period comparisons for both the third quarter and year to date periods were also affected by a $1.2 million pre-tax charge related to consulting and reorganization.

Corporate Offices:
Tompkins Financial Corporation
P.O. Box 460
Ithaca, NY 14851
(607) 273-3210

Tompkins Trust Company
P.O. Box 460
Ithaca, NY 14851
(607) 273-3210
www.tompkinstrust.com

The Bank of Castile
90 Main St.
Batavia, NY 14020
(585) 345-0122
www.bankofcastile.com

Mahopac National Bank
1441 Route 22
Brewster, NY 10509
(845) 278-1000
www.mahopacnationalbank.com

Tompkins Insurance Agencies, Inc.
90 Main St.
Batavia, NY 14020
(585) 344-0833
www.tompkinsins.com

AM&M Financial Services, Inc.
179 Sully’s Trail, Suite 200
Pittsford, NY 14534
(585) 248-0050
www.ammfinancial.com

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