Loading...
•
Mar 31, 2020
Tompkins Q1 2020 Earnings Report
Tompkins Financial Corporation reported first quarter earnings impacted by the COVID-19 pandemic.
Key Takeaways
Tompkins Financial Corporation announced net income attributable to common shareholders of $7.9 million, or $0.53 per diluted common share for the first quarter of 2020, compared to $21.0 million, or $1.37 per diluted common share, for the first quarter of 2019. The current economic stress resulting from the COVID-19 pandemic contributed to the $16.3 million provision for credit losses recognized during the quarter.
Net income attributable to common shareholders was $7.9 million, or $0.53 per diluted common share.
Net interest margin was 3.44%, up compared to 3.34% in the first quarter of 2019.
Net interest income of $53.0 million, up 2.0% compared to the first quarter of 2019.
Nonperforming assets represented 0.46% of total assets at March 31, 2020, down slightly from 0.47% at December 31, 2019.
Forward Guidance
The overall impact of COVID-19 on our consolidated results of operations for the three months ended March 31, 2020 was limited, with the exception of our provision for credit losses. The extent to which the COVID-19 pandemic will affect our business, results of operation and financial condition going forward is difficult to predict and depends on numerous evolving factors.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...