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Dec 31, 2020
Tompkins Q4 2020 Earnings Report
Tompkins Financial Corporation reported record fourth quarter earnings.
Key Takeaways
Tompkins Financial Corporation reported a strong fourth quarter, with diluted earnings per share of $1.61, a 15.0% increase compared to the same period in 2019. Net income for the quarter was $24.0 million, a $2.9 million increase year-over-year. Favorable results were largely driven by improved net interest income, insurance commissions and wealth management fees.
Diluted earnings per share increased by 15.0% to $1.61 compared to Q4 2019.
Net income rose to $24.0 million, a $2.9 million increase from the previous year.
Net interest income increased to $57.8 million, compared to $53.2 million in Q4 2019.
The company recorded net deferred loan fees of $4.5 million from PPP loan participation.
Tompkins
Tompkins
Forward Guidance
The company did not provide specific forward guidance in this report.