CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| OPERATING ACTIVITIES |
|
|
| Net income attributable to Tompkins Financial Corporation |
$ 43,615
|
$ 44,567
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for loan and lease losses |
2,615
|
1,412
|
| Depreciation and amortization of premises, equipment, and software |
5,049
|
4,834
|
| Amortization of intangible assets |
1,572
|
1,503
|
| Earnings from corporate owned life insurance |
(1,615)
|
(1,643)
|
| Net amortization on securities |
8,214
|
9,011
|
| Amortization/accretion related to purchase accounting |
(2,320)
|
(4,348)
|
| Mark-to-market loss on trading securities |
182
|
206
|
| Mark-to-market gain on liabilities held at fair value |
(227)
|
(226)
|
| Net gain on securities transactions |
(926)
|
(1,105)
|
| Net gain on sale of loans originated for sale |
(57)
|
(21)
|
| Proceeds from sale of loans originated for sale |
2,018
|
1,402
|
| Loans originated for sale |
(1,661)
|
(1,784)
|
| Net loss on sale of bank premises and equipment |
18
|
24
|
| Gain on pension curtailment |
0
|
(6,003)
|
| Stock-based compensation expense |
1,715
|
1,410
|
| Decrease in accrued interest receivable |
(927)
|
(920)
|
| (Decrease) increase in accrued interest payable |
(111)
|
84
|
| Proceeds from sales of trading securities |
1,397
|
0
|
| Proceeds from maturities and payments of trading securities |
5,781
|
1,026
|
| Other, net |
(227)
|
11,242
|
| Net Cash Provided by Operating Activities |
64,105
|
60,671
|
| INVESTING ACTIVITIES |
|
|
| Proceeds from maturities, calls and principal paydowns of available-for-sale securities |
188,137
|
181,015
|
| Proceeds from sales of available-for-sale securities |
84,270
|
115,800
|
| Proceeds from maturities, calls and principal paydowns of held-to-maturity securities |
8,411
|
10,567
|
| Purchases of available-for-sale securities |
(241,991)
|
(285,625)
|
| Purchases of held-to-maturity securities |
(7,277)
|
(68,939)
|
| Net increase in loans |
(317,012)
|
(237,574)
|
| Net increase in Federal Home Loan Bank stock |
(4,277)
|
(2,303)
|
| Proceeds from sale of bank premises and equipment |
72
|
73
|
| Purchases of bank premises and equipment |
(8,049)
|
(4,621)
|
| Net cash used in acquisition |
(218)
|
0
|
| Other, net |
123
|
514
|
| Net Cash Used in Investing Activities |
(297,811)
|
(291,093)
|
| FINANCING ACTIVITIES |
|
|
| Net increase in demand, money market, and savings deposits |
272,700
|
288,578
|
| Net increase (decrease) in time deposits |
23,283
|
(19,559)
|
| Net decrease in Federal funds purchases and securities sold under agreements to repurchase |
(59,137)
|
(11,247)
|
| Increase in other borrowings |
536,301
|
285,960
|
| Repayment of other borrowings |
(401,359)
|
(243,330)
|
| Cash dividends |
(19,825)
|
(18,827)
|
| Common stock issued |
0
|
50
|
| Repurchase of common stock |
(1,166)
|
(3,279)
|
| Shares issued for dividend reinvestment plan |
2,237
|
0
|
| Shares issued for employee stock ownership plan |
1,938
|
1,595
|
| Net shares issued related to restricted stock awards |
(201)
|
(195)
|
| Net proceeds from exercise of stock options |
(124)
|
1,469
|
| Tax benefit from stock option exercises |
388
|
230
|
| Net Cash Provided by Financing Activities |
355,035
|
281,445
|
| Net Increase in Cash and Cash Equivalents |
121,329
|
51,023
|
| Cash and cash equivalents at beginning of period |
58,257
|
56,070
|
| Total Cash & Cash Equivalents at End of Period |
179,586
|
107,093
|
| Supplemental Information: |
|
|
| Cash paid during the year for - Interest |
17,641
|
16,253
|
| Cash paid during the year for - Taxes |
17,746
|
15,102
|
| Transfer of loans to other real estate owned |
$ 1,179
|
$ 1,046
|