CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2023 |
Jun. 30, 2022 |
| OPERATING ACTIVITIES |
|
|
| Net income attributable to Tompkins Financial Corporation |
$ 27,856
|
$ 44,142
|
| Provision for credit loss expense |
1,428
|
336
|
| Depreciation and amortization of premises, equipment, and software |
5,418
|
5,245
|
| Amortization of intangible assets |
167
|
437
|
| Earnings from corporate owned life insurance |
(1,169)
|
(593)
|
| Net amortization on securities |
1,856
|
3,280
|
| Amortization/accretion related to purchase accounting |
(369)
|
(511)
|
| Net loss on securities transactions |
7,052
|
84
|
| Net gain on sale of loans originated for sale |
(65)
|
(57)
|
| Proceeds from sale of loans originated for sale |
2,174
|
362
|
| Loans originated for sale |
(2,495)
|
(1,127)
|
| Net gain on sale of bank premises and equipment |
(54)
|
(41)
|
| Net excess tax benefit from stock based compensation |
13
|
29
|
| Stock-based compensation expense |
2,155
|
1,973
|
| Decrease in accrued interest receivable |
718
|
176
|
| Increase (decrease) in accrued interest payable |
742
|
(86)
|
| Other, net |
(678)
|
(2,132)
|
| Net Cash Provided by Operating Activities |
44,749
|
51,517
|
| INVESTING ACTIVITIES |
|
|
| Proceeds from maturities, calls and principal paydowns of available-for-sale debt securities |
79,018
|
134,653
|
| Proceeds from sales of available-for-sale debt securities |
73,832
|
0
|
| Purchases of available-for-sale debt securities |
(18,044)
|
(149,148)
|
| Purchases of held-to-maturity securities |
0
|
(28,320)
|
| Net increase in loans |
(84,989)
|
(85,037)
|
| Proceeds from sale/redemptions of Federal Home Loan Bank stock |
54,747
|
25,148
|
| Purchases of Federal Home Loan Bank and other stock |
(60,676)
|
(32,065)
|
| Proceeds from sale of bank premises and equipment |
98
|
123
|
| Purchases of bank premises, equipment and software |
(3,344)
|
(4,774)
|
| Redemption of corporate owned life insurance |
20
|
0
|
| Other, net |
(138)
|
(142)
|
| Net Cash Provided by (Used in) Investing Activities |
40,524
|
(139,562)
|
| FINANCING ACTIVITIES |
|
|
| Net (decrease) increase in demand, money market, and savings deposits |
(286,827)
|
22,907
|
| Net increase (decrease) in time deposits |
139,452
|
(44,583)
|
| Net decrease in Federal funds purchased and securities sold under agreements to repurchase |
(5,795)
|
(16,712)
|
| Increase in other borrowings |
145,100
|
235,600
|
| Repayment of other borrowings |
(49,300)
|
(64,000)
|
| Cash dividends |
(17,423)
|
(16,634)
|
| Common stock issued |
0
|
0
|
| Repurchase of common stock |
(6,378)
|
(14,128)
|
| Shares issued for employee stock ownership plan |
0
|
2,951
|
| Net shares issued related to restricted stock awards |
(207)
|
(29)
|
| Net proceeds from exercise of stock options |
(118)
|
(42)
|
| Net Cash (Used in) Provided by Financing Activities |
(81,496)
|
105,330
|
| Net Increase in Cash and Cash Equivalents |
3,777
|
17,285
|
| Cash and cash equivalents at beginning of period |
77,837
|
63,107
|
| Total Cash and Cash Equivalents at End of Period |
81,614
|
80,392
|
| Supplemental Information: |
|
|
| Cash paid during the year for - Interest |
34,493
|
5,578
|
| Cash paid during the year for - Taxes |
7,999
|
10,871
|
| Transfer of loans to other real estate owned |
0
|
82
|
| Right-of-use assets obtained in exchange for new lease liabilities |
$ 422
|
$ 568
|