| Condensed Parent Company Only Financial Statements |
Condensed Parent Company Only Financial Statements Condensed financial statements for Tompkins (the Parent Company) as of December 31, are presented below. | | | | | | | | | Condensed Statements of Condition | | | | (in thousands) | 2017 | | 2016 | Assets | | | | | | | | Cash | $ | 3,326 |
| | $ | 28,398 |
| Investment in subsidiaries, at equity | 586,976 |
| | 563,691 |
| Other | 10,686 |
| | 10,345 |
| Total Assets | $ | 600,988 |
| | $ | 602,434 |
| | | | | Liabilities and Shareholders’ Equity | | | | | | | | Borrowings | $ | 9,000 |
| | $ | 16,000 |
| Trust preferred debentures issued to non-consolidated subsidiary | 16,691 |
| | 37,681 |
| Other liabilities | 517 |
| | 800 |
| Tompkins Financial Corporation Shareholders’ Equity | 574,780 |
| | 547,953 |
| Total Liabilities and Shareholders’ Equity | $ | 600,988 |
| | $ | 602,434 |
|
| | | | | | | | | | | | | Condensed Statements of Income | | | | | | (in thousands) | 2017 | | 2016 | | 2015 | Dividends from available-for-sale securities | $ | 0 |
| | $ | 0 |
| | $ | 2 |
| Dividends received from subsidiaries | 33,522 |
| | 47,584 |
| | 28,667 |
| Other income | 281 |
| | 269 |
| | 593 |
| Total Operating Income | 33,803 |
| | 47,853 |
| | 29,262 |
| | | | | | | Interest expense | 1,550 |
| | 2,743 |
| | 2,648 |
| Other expenses | 6,120 |
| | 6,089 |
| | 5,996 |
| Total Operating Expenses | 7,670 |
| | 8,832 |
| | 8,644 |
| Income Before Taxes and Equity in Undistributed | | | | | | Earnings of Subsidiaries | 26,133 |
| | 39,021 |
| | 20,618 |
| Income tax benefit | 1,867 |
| | 3,549 |
| | 2,987 |
| Equity in undistributed earnings of subsidiaries | 24,494 |
| | 16,770 |
| | 34,816 |
| Net Income | $ | 52,494 |
| | $ | 59,340 |
| | $ | 58,421 |
|
| | | | | | | | | | | | | Condensed Statements of Cash Flows | | | | | | (in thousands) | 2017 | | 2016 | | 2015 | Operating activities | | | | | | Net income | $ | 52,494 |
| | $ | 59,340 |
| | $ | 58,421 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | | | | Equity in undistributed earnings of subsidiaries | (24,494 | ) | | (16,770 | ) | | (34,816 | ) | Other, net | (1,569 | ) | | 1,826 |
| | 1,511 |
| Net Cash Provided by Operating Activities | 26,431 |
| | 44,396 |
| | 25,116 |
| Investing activities | | | | | | | | | | | | Other, net | 1,052 |
| | 24 |
| | 81 |
| Net Cash Provided by Investing Activities | 1,052 |
| | 24 |
| | 81 |
| Financing activities | | | | | | | | | | | | Borrowings, net | (28,161 | ) | | 2,490 |
| | 0 |
| Cash dividends | (27,627 | ) | | (26,603 | ) | | (25,411 | ) | Repurchase of common shares | 0 |
| | (1,166 | ) | | (3,505 | ) | Net shares issued related to restricted stock awards | (1,294 | ) | | (835 | ) | | (195 | ) | Shares issued for dividend reinvestment plans | 2,872 |
| | 3,201 |
| | 0 |
| Shares issued for employee stock ownership plan | 2,296 |
| | 1,938 |
| | 1,595 |
| Net proceeds from exercise of stock options | (641 | ) | | (806 | ) | | 1,382 |
| Common stock issued | 0 |
| | 0 |
| | 50 |
| Net Cash Used in Financing Activities | (52,555 | ) | | (21,781 | ) | | (26,084 | ) | Net (decrease) increase in cash | (25,072 | ) | | 22,639 |
| | (887 | ) | Cash at beginning of year | 28,398 |
| | 5,759 |
| | 6,646 |
| Cash at End of Year | $ | 3,326 |
| | $ | 28,398 |
| | $ | 5,759 |
|
A Statement of Changes in Shareholders’ Equity has not been presented since it is the same as the Consolidated Statement of Changes in Shareholders’ Equity previously presented. |