|
Condensed Parent Company Only Financial Statements (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Statements of Condition |
Condensed financial statements for Tompkins
(the Parent Company) as of December 31 are presented below.
| Condensed Statements of Condition |
|
|
|
| (in thousands) |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
|
|
| Assets |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Cash |
|
$ |
7,565 |
|
|
$ |
14,135 |
|
| Available-for-sale securities, at fair value |
|
|
225 |
|
|
|
225 |
|
| Investment in subsidiaries, at equity |
|
|
486,475 |
|
|
|
475,359 |
|
| Other |
|
|
14,819 |
|
|
|
13,814 |
|
| Total Assets |
|
$ |
509,084 |
|
|
$ |
503,533 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities and Shareholders’ Equity |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Borrowings |
|
$ |
14,500 |
|
|
$ |
20,000 |
|
| Trust preferred debentures issued to non-consolidated subsidiary |
|
|
33,256 |
|
|
|
39,760 |
|
| Other liabilities |
|
|
4,841 |
|
|
|
3,865 |
|
| Tompkins Financial Corporation Shareholders’ Equity |
|
|
456,487 |
|
|
|
439,908 |
|
| Total Liabilities and Shareholders’ Equity |
|
$ |
509,084 |
|
|
$ |
503,533 |
|
| Condensed Statements of Income |
| Condensed Statements of Income |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
2013 |
|
|
2012 |
|
|
2011 |
|
| Dividends from available-for-sale securities |
|
$ |
4 |
|
|
$ |
4 |
|
|
$ |
1 |
|
| Dividends received from subsidiaries |
|
|
25,991 |
|
|
|
39,525 |
|
|
|
19,025 |
|
| Other Income |
|
|
1,627 |
|
|
|
69 |
|
|
|
461 |
|
| Total Operating Income |
|
|
27,622 |
|
|
|
39,598 |
|
|
|
19,487 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
3,087 |
|
|
|
2,232 |
|
|
|
1,790 |
|
| Other expenses |
|
|
6,352 |
|
|
|
21,197 |
|
|
|
4,820 |
|
| Total Operating Expenses |
|
|
9,439 |
|
|
|
23,429 |
|
|
|
6,610 |
|
| Income Before Taxes and Equity in Undistributed Earnings of Subsidiaries |
|
|
18,183 |
|
|
|
16,169 |
|
|
|
12,877 |
|
| Income tax benefit |
|
|
3,959 |
|
|
|
9,396 |
|
|
|
3,333 |
|
| Equity in undistributed earnings of subsidiaries |
|
|
28,714 |
|
|
|
5,720 |
|
|
|
19,209 |
|
| Net Income |
|
$ |
50,856 |
|
|
$ |
31,285 |
|
|
$ |
35,419 |
|
| Condensed Statements of Cash Flows |
| Condensed Statements of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
2013 |
|
|
2012 |
|
|
2011 |
|
| Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
50,856 |
|
|
$ |
31,285 |
|
|
$ |
35,419 |
|
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Equity in undistributed earnings of subsidiaries |
|
|
(28,800 |
) |
|
|
(5,720 |
) |
|
|
(19,209 |
) |
| Other, net |
|
|
(1,769 |
) |
|
|
4,075 |
|
|
|
582 |
|
| Net Cash Provided by Operating Activities |
|
|
20,287 |
|
|
|
29,640 |
|
|
|
16,792 |
|
| Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Investments in subsidiaries |
|
|
0 |
|
|
|
(30,143 |
) |
|
|
(137 |
) |
| Other, net |
|
|
(3,482 |
) |
|
|
(25,600 |
) |
|
|
(613 |
) |
| Net Cash Used in Investing Activities |
|
|
(3,482 |
) |
|
|
(55,743 |
) |
|
|
(750 |
) |
| Financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Borrowings, net |
|
|
(10,691 |
) |
|
|
9,231 |
|
|
|
(8,673 |
) |
| Common stock |
|
|
0 |
|
|
|
37,978 |
|
|
|
0 |
|
| Cash dividends |
|
|
(22,463 |
) |
|
|
(19,021 |
) |
|
|
(15,420 |
) |
| Repurchase of common shares |
|
|
0 |
|
|
|
0 |
|
|
|
(17 |
) |
| Shares issued for dividend reinvestment plans |
|
|
4,046 |
|
|
|
1,936 |
|
|
|
2,435 |
|
| Shares issued for employee stock ownership plan |
|
|
717 |
|
|
|
1,037 |
|
|
|
1,053 |
|
| Net proceeds from exercise of stock options |
|
|
4,683 |
|
|
|
2,494 |
|
|
|
866 |
|
| Tax benefits of stock options exercised |
|
|
331 |
|
|
|
342 |
|
|
|
16 |
|
| Net Cash (Used in) Provided by Financing Activities |
|
|
(23,377 |
) |
|
|
33,997 |
|
|
|
(19,740 |
) |
| Net (decrease) increase in cash |
|
|
(6,572 |
) |
|
|
7,894 |
|
|
|
(3,698 |
) |
| Cash at beginning of year |
|
|
14,135 |
|
|
|
6,241 |
|
|
|
9,939 |
|
| Cash at End of Year |
|
$ |
7,563 |
|
|
$ |
14,135 |
|
|
$ |
6,241 |
|