CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| OPERATING ACTIVITIES |
|
|
| Net income attributable to Tompkins Financial Corporation |
$ 32,642
|
$ 29,084
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for loan and lease losses |
1,745
|
1,833
|
| Depreciation and amortization of premises, equipment, and software |
3,641
|
3,356
|
| Amortization of intangible assets |
978
|
1,048
|
| Earnings from corporate owned life insurance |
(1,188)
|
(1,127)
|
| Net amortization on securities |
5,233
|
5,301
|
| Amortization/accretion related to purchase accounting |
(1,606)
|
(1,345)
|
| Mark-to-market loss on trading securities |
0
|
106
|
| Mark-to-market gain on liabilities held at fair value |
0
|
(149)
|
| Net gain on securities transactions |
0
|
(472)
|
| Net gain on sale of loans originated for sale |
(23)
|
(35)
|
| Proceeds from sale of loans originated for sale |
478
|
1,493
|
| Loans originated for sale |
(455)
|
(912)
|
| Net (gain) loss on sale of bank premises and equipment |
(22)
|
20
|
| Net excess tax benefit from stock based compensation |
299
|
333
|
| Stock-based compensation expense |
1,405
|
1,115
|
| (Increase) decrease in accrued interest receivable |
(985)
|
81
|
| Decrease in accrued interest payable |
(35)
|
(173)
|
| Proceeds from maturities and payments of trading securities |
0
|
536
|
| Other, net |
(989)
|
(440)
|
| Net Cash Provided by Operating Activities |
41,118
|
39,653
|
| INVESTING ACTIVITIES |
|
|
| Proceeds from maturities, calls and principal paydowns of available-for-sale securities |
77,092
|
117,580
|
| Proceeds from sales of available-for-sale securities |
0
|
59,195
|
| Proceeds from maturities, calls and principal paydowns of held-to-maturity securities |
3,695
|
5,141
|
| Purchases of available-for-sale securities |
(72,419)
|
(179,260)
|
| Purchases of held-to-maturity securities |
(1,765)
|
(4,240)
|
| Net increase in loans |
(159,747)
|
(206,383)
|
| Net increase in Federal Home Loan Bank stock |
(2,581)
|
(6,492)
|
| Proceeds from sale of bank premises and equipment |
35
|
53
|
| Purchases of bank premises, equipment and software |
(15,135)
|
(4,485)
|
| Net cash used in acquisition |
0
|
(218)
|
| Other, net |
487
|
0
|
| Net Cash Used in Investing Activities |
(170,338)
|
(219,109)
|
| FINANCING ACTIVITIES |
|
|
| Net increase in demand, money market, and savings deposits |
169,438
|
46,228
|
| Net (decrease) increase in time deposits |
(43,297)
|
28,830
|
| Net decrease in Federal funds purchased and securities sold under agreements to repurchase |
(18,702)
|
(39,491)
|
| Increase in other borrowings |
398,750
|
400,301
|
| Repayment of other borrowings |
(331,530)
|
(236,411)
|
| Redemption of trust preferred debentures |
(21,161)
|
0
|
| Cash dividends |
(13,645)
|
(13,206)
|
| Repurchase of common stock |
0
|
(1,166)
|
| Shares issued for dividend reinvestment plan |
2,047
|
1,003
|
| Shares issued for employee stock ownership plan |
2,296
|
1,938
|
| Net shares issued related to restricted stock awards |
(435)
|
(286)
|
| Net proceeds from exercise of stock options |
(320)
|
(156)
|
| Net Cash Provided by Financing Activities |
143,441
|
187,584
|
| Net Increase in Cash and Cash Equivalents |
14,221
|
8,128
|
| Cash and cash equivalents at beginning of period |
63,954
|
58,257
|
| Total Cash & Cash Equivalents at End of Period |
78,175
|
66,385
|
| Supplemental Information: |
|
|
| Cash paid during the year for - Interest |
12,222
|
11,527
|
| Cash paid during the year for - Taxes |
13,801
|
12,315
|
| Transfer of loans to other real estate owned |
$ 2,693
|
$ 448
|