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Company Description

Contact Info

The Commons

PO Box 460

Ithaca, NY 14851

United States

Phone: 888-503-5753


Tompkins Financial Corporation operates as a community-based financial services company. The company offers a range of products and services, including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance. As of December 31, 2015, the company’s subsidiaries included four wholly-owned banking subsidiaries, such as Tompkins Trust Company (the ‘Trust Company’), The Bank of Castile (doing business as Tompkins Bank of Castile), Mahopac Bank, and VIST Bank (doing business as Tompkins VIST Bank); and a wholly-owned insurance agency subsidiary, Tompkins Insurance Agencies, Inc. (Tompkins Insurance). Segments The company has identified three business segments: Banking, Insurance and Wealth Management. Banking This segment’s services consist primarily of attracting deposits from the areas served by the company’s 4 banking subsidiaries’ 63 banking offices (44 offices in New York and 19 offices in Pennsylvania), and using those deposits to originate various commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. The company maintains a portfolio of securities, such as obligations of the U.S. government agencies and the U.S. government sponsored entities, obligations of states and political subdivisions thereof, and equity securities. It invests in securities with short to intermediate average lives to match the interest rate sensitivities of its assets and liabilities. Insurance This segment’s services include property and casualty insurance, employee benefit consulting, and life, long-term care and disability insurance. Tompkins Insurance is headquartered in Batavia, New York. Tompkins Insurance offers services to customers of the company’s banking subsidiaries by sharing offices with The Bank of Castile, Trust Company, and VIST Bank. In addition to these shared offices, Tompkins Insurance has five offices in Western New York; two offices in Tompkins County, New York; and one office in Montgomery County, Pennsylvania. Wealth Management This segment’s services consists of investment management, trust and estate, financial and tax planning, as well as life, disability and long-term care insurance services. Wealth management services are under the trade name Tompkins Financial Advisors. Tompkins Financial Advisors has office locations at all four of the company’s subsidiary banks. The company provides various financial services to individuals and small business customers. Some of the traditional services are as follows: Banking Services The company’s subsidiary banks provide financial services to corporations and other business clients. Lending activities include loans for various business purposes, including real estate financing, construction, equipment financing, accounts receivable financing, and commercial leasing. Other 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’s subsidiary banks provide various retail banking services, including checking accounts, savings accounts, time deposits, IRA products, brokerage services, residential mortgage loans, personal loans, home equity loans, credit cards, debit cards and safe deposit services. Retail services are accessible through various delivery systems, including branch facilities, ATMs, voice response, Mobile banking, Internet banking, and remote deposit services. Insurance Services The company provides property and casualty insurance, employee benefit consulting, and life, long-term care and disability insurance through Tompkins Insurance. Strategy The company’s strategic initiatives include diversification within its markets, growth of its fee-based businesses, and growth internally and through acquisitions of financial institutions, branches, and financial services businesses. Supervision and Regulation As a registered financial holding company, the company is regulated under the Bank Holding Company Act of 1956 as amended; and is subject

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Valuation TMP Industry Range
Price/Earnings 20.9x
Price/Sales 4.9x
Price/Book 2.1x
Price/Cash Flow 20.8x
TEV/Sales 1.2x

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