Tompkins Financial reported third quarter 2026 results featuring a beat on both the top and bottom lines. Diluted earnings per share reached $2.00, surpassing the $1.95 analyst estimate, while total revenue (Net Interest Income plus Noninterest Income) of $89.9 million slightly exceeded the projected $89.65 million. The performance was characterized by robust loan growth and a significant expansion in net interest margin.
Key Highlights
- Net interest margin expanded to 3.65%, up 7 basis points from the prior quarter and 45 basis points year-over-year.
- Period-end total loans grew to $6.7 billion, a 1.9% increase (7.8% annualized) from the prior quarter, led by commercial real estate and industrial portfolios.
- Noninterest income fell 46.7% year-over-year to $12.6 million, primarily due to the loss of $11.3 million in insurance revenue following the 2025 divestiture of Tompkins Insurance Agencies.
- Total deposits reached $7.4 billion at period-end, up 5.4% sequentially, while the total average cost of funds decreased 1 basis point from the prior quarter to 1.67%.
- Asset quality remains stable with nonperforming assets at 0.60% of total assets, though the provision for credit losses increased sequentially to $3.0 million to support loan growth.