|
Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| OPERATING ACTIVITIES |
|
|
|
|
|
|
| Net Income attributable to Tompkins Financial Corporation |
$ 50,856 |
|
$ 31,285 |
|
$ 35,419 |
|
| Adjustments to reconcile net income attributable to Tompkins Financial Corporation, to net cash provided by operating activities: |
|
|
|
|
|
|
| Provision for loan and lease losses |
6,161 |
|
8,837 |
|
8,945 |
|
| Depreciation and amortization of premises, equipment, and software |
5,706 |
|
5,326 |
|
4,758 |
|
| Accretion related to purchase accounting |
(12,152) |
|
(6,157) |
|
0 |
|
| Amortization of intangible assets |
2,197 |
|
1,264 |
|
589 |
|
| Earnings from corporate owned life insurance, net |
(2,021) |
|
(1,715) |
|
(1,504) |
|
| Net amortization on securities |
13,317 |
|
12,313 |
|
9,376 |
|
| Other-than-temporary impairment loss |
0 |
[1] |
196 |
[1] |
65 |
[1] |
| Mark-to-market (gain) loss on trading securities |
538 |
|
332 |
|
(62) |
|
| Mark-to-market loss (gain) on liabilities held at fair value |
(555) |
|
(246) |
|
464 |
|
| Deferred income tax expense (benefit) |
8,018 |
|
6,930 |
|
(2,100) |
|
| Net gain on sale of securities transactions |
(599) |
|
(324) |
|
(396) |
|
| Net loss (gain) on sale of loans |
133 |
|
(885) |
|
(496) |
|
| Proceeds from sale of loans |
13,483 |
|
38,438 |
|
27,074 |
|
| Loans originated for sale |
(13,384) |
|
(37,462) |
|
(25,498) |
|
| Gain on redemption of trust preferred |
(1,410) |
|
0 |
|
0 |
|
| Gain on IRA conversion |
(1,285) |
|
0 |
|
0 |
|
| Net loss (gain) on sale of bank premises and equipment |
191 |
|
55 |
|
(8) |
|
| Stock-based compensation expense |
1,382 |
|
1,310 |
|
1,261 |
|
| Decrease in interest receivable |
929 |
|
(122) |
|
(907) |
|
| Decrease (increase) in interest payable |
(945) |
|
(783) |
|
(449) |
|
| Proceeds from maturities, calls and principal paydowns of trading securities |
4,893 |
|
2,775 |
|
3,244 |
|
| Contribution to pension plan |
(8,000) |
|
(7,000) |
|
(2,750) |
|
| Decrease in FDIC prepaid insurance |
5,386 |
|
2,468 |
|
2,190 |
|
| Other, net |
10,867 |
|
4,941 |
|
12,776 |
|
| Net Cash Provided by Operating Activities |
83,706 |
|
61,776 |
|
71,991 |
|
| INVESTING ACTIVITIES |
|
|
|
|
|
|
| Proceeds from maturities, calls and principal paydowns of available-for-sale securities |
250,911 |
|
306,795 |
|
385,599 |
|
| Proceeds from sales of available-for-sale securities |
115,796 |
|
217,971 |
|
59,666 |
|
| Proceeds from maturities, calls and principal paydowns of held-to-maturity securities |
13,315 |
|
14,649 |
|
38,314 |
|
| Purchases of available-for-sale securities |
(398,811) |
|
(405,078) |
|
(541,976) |
|
| Purchases of held-to-maturity securities |
(8,236) |
|
(12,043) |
|
(10,002) |
|
| Net increase in loans and leases |
(240,160) |
|
(95,303) |
|
(81,755) |
|
| Proceeds from sale of commercial loans |
5,160 |
|
0 |
|
0 |
|
| Net (increase) decrease in Federal Home Loan Bank and Federal Reserve Bank Stock |
(5,558) |
|
4,338 |
|
2,915 |
|
| Proceeds from sale of bank premises and equipment |
130 |
|
59 |
|
48 |
|
| Purchases of bank premises and equipment |
(6,545) |
|
(7,070) |
|
(3,310) |
|
| Purchased of corporate owned life insurance |
(2,212) |
|
0 |
|
(1,500) |
|
| Net cash provided by (used in) acquisitions |
0 |
|
4,289 |
|
(243) |
|
| Other, net |
(2,172) |
|
(1,348) |
|
(372) |
|
| Net Cash Provided by (Used in) Investing Activities |
(278,382) |
|
27,259 |
|
(152,616) |
|
| FINANCING ACTIVITIES |
|
|
|
|
|
|
| Net increase in demand, money market, and savings deposits |
105,228 |
|
211,731 |
|
219,199 |
|
| Net decrease in time deposits |
(103,882) |
|
(107,361) |
|
(54,508) |
|
| Net decrease in securities sold under agreements to repurchase and Federal funds purchased |
(45,117) |
|
(74,807) |
|
(14,519) |
|
| Increase in other borrowings |
309,974 |
|
20,000 |
|
98,980 |
|
| Redemption of trust preferred debentures |
(5,191) |
|
0 |
|
0 |
|
| Repayment of other borrowings |
(89,736) |
|
(93,981) |
|
(157,562) |
|
| Net shares issued related to restricted stock awards |
40 |
|
(20) |
|
(13) |
|
| Cash dividends |
(22,463) |
|
(19,021) |
|
(15,420) |
|
| Shares issued for dividend reinvestment plan |
4,046 |
|
1,936 |
|
2,435 |
|
| Shares issued for employee stock ownership plan |
717 |
|
1,037 |
|
1,053 |
|
| Common stock issued in capital raise |
0 |
|
37,978 |
|
0 |
|
| Net proceeds from exercise of stock options |
4,683 |
|
2,494 |
|
866 |
|
| Tax benefit from stock option exercises |
331 |
|
342 |
|
16 |
|
| Net Cash Provided by (Used In) Financing Activities |
158,630 |
|
(19,672) |
|
80,527 |
|
| Net (Decrease) Increase in Cash and Cash Equivalents |
(36,046) |
|
69,363 |
|
(98) |
|
| Cash and cash equivalents at beginning of year |
118,930 |
|
49,567 |
|
49,665 |
|
| Total Cash & Cash Equivalents at End of Year |
82,884 |
|
118,930 |
|
49,567 |
|
| Supplemental Information: |
|
|
|
|
|
|
| Cash paid during the year for - Interest |
27,935 |
|
24,996 |
|
26,131 |
|
| Cash paid, net of refunds, during the year for - Income taxes |
14,844 |
|
15,809 |
|
11,003 |
|
| Non-cash investing and financing activities: |
|
|
|
|
|
|
| Fair value of non-cash assets other than goodwill acquired in purchase acquisitions |
0 |
|
1,361,790 |
|
64 |
|
| Fair value of liabilities assumed in purchase acquisitions |
0 |
|
1,331,196 |
|
31 |
|
| Goodwill related to acquisitions |
0 |
|
48,407 |
|
2,309 |
|
| Fair value of shares issued for acquisitions |
0 |
|
82,198 |
|
2,535 |
|
| Transfer of loans to other real estate owned |
$ 5,971 |
|
$ 1,485 |
|
$ 872 |
|
|
|
|