CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| OPERATING ACTIVITIES |
|
|
| Net income attributable to Tompkins Financial Corporation |
$ 20,436
|
$ 15,717
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for loan and lease losses |
567
|
769
|
| Depreciation and amortization of premises, equipment, and software |
2,473
|
1,787
|
| Amortization of intangible assets |
451
|
493
|
| Earnings from corporate owned life insurance |
(517)
|
(630)
|
| Net amortization on securities |
2,371
|
2,782
|
| Amortization/accretion related to purchase accounting |
(972)
|
(747)
|
| Net gain on securities transactions |
124
|
0
|
| Net gain on sale of loans originated for sale |
(21)
|
(13)
|
| Proceeds from sale of loans originated for sale |
840
|
53
|
| Loans originated for sale |
(824)
|
(40)
|
| Net gain on sale of bank premises and equipment |
(6)
|
(6)
|
| Net excess tax benefit from stock based compensation |
56
|
299
|
| Stock-based compensation expense |
855
|
706
|
| Decrease in accrued interest receivable |
(734)
|
(1,425)
|
| Decrease in accrued interest payable |
(92)
|
(146)
|
| Other, net |
(5,862)
|
(4,690)
|
| Net Cash Provided by Operating Activities |
19,145
|
14,909
|
| INVESTING ACTIVITIES |
|
|
| Proceeds from maturities, calls and principal paydowns of available-for-sale securities |
35,611
|
38,492
|
| Proceeds from sales of available-for-sale securities |
45,885
|
0
|
| Proceeds from maturities, calls and principal paydowns of held-to-maturity securities |
1,447
|
1,227
|
| Purchases of available-for-sale securities |
(82,256)
|
(37,169)
|
| Purchases of held-to-maturity securities |
(1,461)
|
(750)
|
| Net increase in loans |
(35,579)
|
(39,601)
|
| Net decrease in Federal Home Loan Bank stock |
3,478
|
8,120
|
| Proceeds from sale of bank premises and equipment |
17
|
19
|
| Purchases of bank premises and equipment |
(7,127)
|
(7,397)
|
| Other, net |
0
|
1,711
|
| Net Cash Used in Investing Activities |
(39,985)
|
(35,348)
|
| FINANCING ACTIVITIES |
|
|
| Net increase in demand, money market, and savings deposits |
154,746
|
220,639
|
| Net (decrease) increase in time deposits |
(61,896)
|
5,092
|
| Net (decrease) increase in Federal funds purchased and securities sold under agreements to repurchase |
(6,046)
|
1,654
|
| Increase in other borrowings |
118,332
|
45,000
|
| Repayment of other borrowings |
(195,000)
|
(212,530)
|
| Redemption of trust preferred debentures |
0
|
(21,161)
|
| Cash dividends |
(7,328)
|
(6,815)
|
| Repurchase of common stock |
(1,205)
|
0
|
| Shares issued for dividend reinvestment plan |
0
|
1,078
|
| Shares issued for employee stock ownership plan |
3,073
|
2,296
|
| Net proceeds from exercise of stock options |
(37)
|
(296)
|
| Net Cash Provided by Financing Activities |
4,639
|
34,957
|
| Net (Decrease) Increase in Cash and Cash Equivalents |
(16,201)
|
14,518
|
| Cash and cash equivalents at beginning of period |
84,303
|
63,954
|
| Total Cash & Cash Equivalents at End of Period |
68,102
|
78,472
|
| Supplemental Information: |
|
|
| Cash paid during the year for - Interest |
8,300
|
6,018
|
| Cash paid during the year for - Taxes |
62
|
89
|
| Transfer of loans to other real estate owned |
$ 0
|
$ 2,520
|