TOMPKINS FINANCIAL CORP - 10-Q filing on 2017-08-09

Securities (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of available for sale securities

The following table summarizes available-for-sale securities held by the Company at June 30, 2017:



	Available-for-Sale Securities
June 30, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	526,734	$	2,906	$	1,260	$	528,380
Obligations of U.S. states and political subdivisions	92,151		593		299		92,445
Mortgage-backed securities – residential, issued by
U.S. Government agencies	149,281		1,025		1,824		148,482
U.S. Government sponsored entities	661,251		1,613		10,477		652,387
Non-U.S. Government agencies or sponsored entities	96		0		0		96
U.S. corporate debt securities	2,500		0		338		2,162
Total debt securities	1,432,013		6,137		14,198		1,423,952
Equity securities	1,000		0		81		919
Total available-for-sale securities	$	1,433,013	$	6,137	$	14,279	$	1,424,871

The following table summarizes available-for-sale securities held by the Company at December 31, 2016:



	Available-for-Sale Securities
December 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	527,057	$	2,873	$	2,303	$	527,627
Obligations of U.S. states and political subdivisions	89,910		286		1,140		89,056
Mortgage-backed securities – residential, issued by
U.S. Government agencies	159,417		1,081		2,272		158,226
U.S. Government sponsored entities	662,724		1,993		13,287		651,430
Non-U.S. Government agencies or sponsored entities	116		0		0		116
U.S. corporate debt securities	2,500		0		338		2,162
Total debt securities	1,441,724		6,233		19,340		1,428,617
Equity securities	1,000		0		79		921
Total available-for-sale securities	$	1,442,724	$	6,233	$	19,419	$	1,429,538

Schedule of held to maturity securities

The following table summarizes held-to-maturity securities held by the Company at June 30, 2017:



	Held-to-Maturity Securities
June 30, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	131,903	$	1,617	$	102	$	133,418
Obligations of U.S. states and political subdivisions	8,091		151		6		8,236
Total held-to-maturity debt securities	$	139,994	$	1,768	$	108	$	141,654

The following table summarizes held-to-maturity securities held by the Company at December 31, 2016:



	Held-to-Maturity Securities
December 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	132,098	$	804	$	283	$	132,619
Obligations of U.S. states and political subdivisions	10,021		195		3		10,213
Total held-to-maturity debt securities	$	142,119	$	999	$	286	$	142,832

Schedule of available for sale securities with unrealized losses

The following table summarizes available-for-sale securities that had unrealized losses at June 30, 2017:



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	136,587	$	1,255	$	245	$	5	$	136,832	$	1,260
Obligations of U.S. states and political subdivisions	33,531		299		0		0		33,531		299

Mortgage-backed securities – residential, issued by
U.S. Government agencies	89,033		1,024		30,703		800		119,736		1,824
U.S. Government sponsored entities	464,443		6,214		127,008		4,263		591,451		10,477
U.S. corporate debt securities	0		0		2,163		338		2,163		338
Equity securities	0		0		919		81		919		81
Total available-for-sale securities	$	723,594	$	8,792	$	161,038	$	5,487	$	884,632	$	14,279

The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2016:



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	208,940	$	2,303	$	0	$	0	$	208,940	$	2,303
Obligations of U.S. states and political subdivisions	58,852		1,139		751		1		59,603		1,140

Mortgage-backed securities – residential, issued by
U.S. Government agencies	98,307		1,570		22,376		702		120,683		2,272
U.S. Government sponsored entities	463,009		8,933		123,915		4,354		586,924		13,287
U.S. corporate debt securities	0		0		2,162		338		2,162		338
Equity securities	0		0		921		79		921		79
Total available-for-sale securities	$	829,108	$	13,945	$	150,125	$	5,474	$	979,233	$	19,419

Schedule held-to-maturity securities with unrealized losses

The following table summarizes held-to-maturity securities that had unrealized losses at June 30, 2017.



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	10,006	$	102	$	0	$	0	$	10,006	$	102

Obligations of U.S. states and political subdivisions	3,623		6		0		0		3,623		6
Total held-to-maturity securities	$	13,629	$	108	$	0	$	0	$	13,629	$	108

The following table summarizes held-to-maturity securities that had unrealized losses at December 31, 2016.



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	40,802	$	283	$	0	$	0	$	40,802	$	283

Obligations of U.S. states and political subdivisions	2,567		3		0		0		2,567		3
Total held-to-maturity securities	$	43,369	$	286	$	0	$	0	$	43,369	$	286

Schedule of amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.



June 30, 2017
(in thousands)	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	38,168	$	38,336
Due after one year through five years	403,122		405,059
Due after five years through ten years	162,335		162,211
Due after ten years	17,760		17,381
Total	621,385		622,987
Mortgage-backed securities	810,628		800,965
Total available-for-sale debt securities	$	1,432,013	$	1,423,952



December 31, 2016
(in thousands)	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	17,878	$	18,034
Due after one year through five years	376,777		378,631
Due after five years through ten years	210,985		208,999
Due after ten years	13,827		13,181
Total	619,467		618,845
Mortgage-backed securities	822,257		809,772
Total available-for-sale debt securities	$	1,441,724	$	1,428,617



June 30, 2017
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity securities:
Due in one year or less	$	6,351	$	6,363
Due after one year through five years	31,832		32,368
Due after five years through ten years	101,811		102,923
Total held-to-maturity debt securities	$	139,994	$	141,654



December 31, 2016
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity securities:
Due in one year or less	$	7,452	$	7,469
Due after one year through five years	27,480		27,866
Due after five years through ten years	107,187		107,497
Due after ten years	0		0
Total held-to-maturity debt securities	$	142,119	$	142,832