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Sep 30, 2020
Tompkins Q3 2020 Earnings Report
Tompkins Financial Corporation reported record earnings for the third quarter of 2020.
Key Takeaways
Tompkins Financial Corporation reported a strong third quarter with diluted earnings per share of $1.63, a 21.6% increase compared to the same period in 2019. Net income also increased to $24.2 million, up from $20.2 million in the third quarter of the previous year. The results reflect higher levels of net interest income and noninterest income, while expenses remained relatively stable.
Diluted earnings per share increased by 21.6% to $1.63 compared to Q3 2019.
Net income rose to $24.2 million, up from $20.2 million in the same quarter last year.
Net interest income increased to $58.3 million, compared to $53.2 million in Q3 2019.
Noninterest expense increased slightly by 1.5% to $46.3 million compared to Q3 2019.
Tompkins
Tompkins
Forward Guidance
The company did not provide forward guidance in the earnings report.