Form 8-K

8-K — TOMPKINS FINANCIAL CORP

Accession: 0001005817-26-000045

Filed: 2026-04-24

Period: 2026-04-23

CIK: 0001005817

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — tmp-20260423.htm (Primary)

EX-99.1 (q12026pressrelease.htm)

EX-99.2 (q2div2026pressrelease.htm)

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GRAPHIC (image1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: tmp-20260423.htm · Sequence: 1

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0001005817false00010058172026-04-242026-04-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 23, 2026

Tompkins Financial Corporation

(Exact name of registrant as specified in its charter)

New York 1-12709 16-1482357

(State or other jurisdiction

(Commission (IRS Employer

of incorporation) File Number) Identification No.)

118 E. Seneca Street,

PO Box 460,

Ithaca

New York

14851

(Address of Principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (888) 503-5753

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.10 par value TMP NYSE American, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On April 24, 2026, Tompkins Financial Corporation, (the “Company”) issued a press release announcing its earnings for the calendar quarter ended March 31, 2026. A copy of the press release is attached to this Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information furnished under Items 2.02 and Item 9.01 of this Report on Form 8-K, including Exhibits 99.1 and 99.2 to this Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under the Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

Item 8.01 Other Events

On April 23, 2026, the Company's Board of Directors declared a dividend of $0.67 per share, payable on May 15, 2026, to common shareholders of record on May 8, 2026. A copy of the press release is attached to this Report on Form 8-K as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(d) Exhibits.

EXHIBIT INDEX

Exhibit No. Description

99.1 Press Release of Tompkins Financial Corporation dated April 24, 2026

99.2 Press Release of Tompkins Financial Corporation dated April 24, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TOMPKINS FINANCIAL CORPORATION

Date: April 24, 2026 /s/ Stephen S. Romaine

Stephen S. Romaine

President and CEO

EX-99.1

Filename: q12026pressrelease.htm · Sequence: 2

Document

For more information contact:

Stephen S. Romaine, President & CEO

Matthew Tomazin, Executive VP & CFO

Tompkins Financial Corporation (888) 503-5753

For Immediate Release

Friday, April 24, 2026

Tompkins Financial Corporation Reports Record First Quarter Financial Results

ITHACA, NY - Tompkins Financial Corporation (NYSE American: TMP)

Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $1.82 for the first quarter of 2026, up $0.45 or 32.8% compared to the first quarter of 2025 and down $4.88 per share or 72.8% compared to the fourth quarter of 2025. Net income for the first quarter of 2026 was $26.1 million, up $6.4 million or 32.5% from the first quarter of 2025 and down $70.2 million or 72.9% compared to the immediate prior quarter. As previously reported, net income for the fourth quarter of 2025 included income related to the sale of Tompkins Insurance Agencies, Inc. ("TIA"), partially offset by the loss on the sale of available-for-sale debt securities. Excluding these items, the Company had operating diluted earnings per share (non-GAAP) of $1.78, and operating net income (non-GAAP) of $25.6 million for the fourth quarter of 2025. Reconciliations of adjusted earnings per share to diluted earnings per share and adjusted net income to net income can be found on page 12 of this press release.

Tompkins President and CEO, Stephen Romaine, commented, "We are pleased to report record first quarter 2026 earnings, building on the record results achieved in the fourth quarter of 2025. Our healthy levels of loan and deposit growth and our expanding net interest margin continued to support improving profitability in the first quarter. Our balance sheet remains flexible with strong capital and liquidity. The momentum in our earnings and the strength of our balance sheet position us well as we look forward to our future."

SELECTED HIGHLIGHTS FOR THE PERIOD:

•Net interest margin improved to 3.57% in the first quarter of 2026, up 15 basis points from the immediate prior quarter, and up 59 basis points from the first quarter of 2025.

•Total loans at March 31, 2026 were up $31.7 million, or 0.5% compared to December 31, 2025 (1.97% on an annualized basis), and up $411.3 million, or 6.8%, from March 31, 2025.

•Total deposits at March 31, 2026 were $7.1 billion, up $116.4 million, or 1.7% compared to the most recent prior quarter end, and up $300.7 million, or 4.5%, from March 31, 2025.

•Total average cost of funds of 1.67% for the first quarter of 2026 was down 4 basis points compared to the most recent prior quarter, and down 17 basis points compared to the same period of the prior year.

•Loan to deposit ratio at March 31, 2026 was 91.8%, compared to 92.9% at December 31, 2025, and 89.8% at March 31, 2025.

•Regulatory Tier 1 capital to average assets was 10.58% at March 31, 2026, down compared to 10.62% at December 31, 2025, and up from 9.31% at March 31, 2025.

NET INTEREST INCOME

Net interest income was $71.9 million for the first quarter of 2026, up $2.8 million or 4.1% compared to the fourth quarter of 2025, and up $15.2 million or 26.8% compared to the first quarter of 2025. The increase in net interest income compared to both periods was due to improvement in net interest margin, which is discussed below, and growth in average loans.

Net interest margin was 3.57% for the first quarter of 2026, compared to 3.42% reported for the fourth quarter of 2025, and 2.98% reported for the first quarter of 2025. The increase in net interest margin reflects growth in average loan balances, improved yields on average earning assets, and lower funding costs. Average yield on securities for the first quarter of 2026 was up 51 basis points over the fourth quarter of 2025 and up 113 basis points over the first quarter of 2025, mainly a result of the previously reported reinvestment within the portfolio at higher yields during the fourth quarter of 2025.

Average loans for the quarter ended March 31, 2026 were up $98.3 million, or 1.6% (2.0% annualized), over the most recent prior quarter, and were up $409.5 million, or 6.8%, compared to the same prior year period. The increase in average loans over both prior periods was mainly in the commercial real estate and commercial and industrial portfolios. The average yield on interest-earning assets for the quarter ended March 31, 2026 was 5.09%, an increase of 11 basis points from 4.98% for the quarter ended December 31, 2025, and up 40 basis points from 4.69% for the quarter ended March 31, 2025.

Average total deposits of $7.0 billion for the first quarter of 2026, were in line with the most recent prior quarter, and up $344.4 million, or 5.2%, compared to the first quarter of 2025. The cost of interest-bearing deposits of 2.06% for the first quarter of 2026 was down 12 basis points compared to the most recent prior quarter, and down 17 basis points from the first quarter of 2025. The ratio of average noninterest bearing deposits to average total deposits for the first quarter of 2026 was 26.6% compared to 27.4% for the fourth quarter of 2025, and 26.9% for the first quarter of 2025. The average cost of interest-bearing liabilities for the first quarter of 2026 was 2.21%, down 9 basis points when compared to the most recent prior quarter, and down 23 basis points from the same period in 2025.

NONINTEREST INCOME

Noninterest income of $11.8 million for the first quarter of 2026 was down $13.2 million or 52.7% compared to the first quarter of 2025. The decrease in noninterest income is mainly a result of a decrease of $11.6 million in insurance revenue when compared to the first quarter of 2025, due to the sale of TIA in the fourth quarter of 2025. The first quarter of 2025 also included a $1.9 million gain on the sale of other real estate owned. For the first quarter of 2026, investment services income was up $147,000 or 2.9% over the same period in 2025, while service charges on deposit accounts and card services income were in line with prior year.

NONINTEREST EXPENSE

Noninterest expense was $47.7 million for the first quarter of 2026, down $2.9 million or 5.7% compared to the first quarter of 2025. The decrease in noninterest expense included a decrease in salaries and wages and other employee benefits of $3.3 million or 10.4%, mainly due to the departure of employees in connection with the sale of TIA in the fourth quarter of 2025. Partially offsetting the decrease in salaries and wages and other employee benefits were annual merit increases and increased other employee benefit costs. Also contributing to the year-over-year decrease in noninterest expense were net occupancy expenses, down $115,000 or 3.2%, and amortization expense, down $84,000 or 100.0%. The decrease in noninterest expense for the first quarter of 2026 compared to the same period in 2025 was mainly due to the sale of TIA. Expenses related to TIA in the first quarter of 2025 included salaries and wages and other employee benefits of $6.0 million, net occupancy expense of premises of $279,000, furniture and fixture expense of $305,000, and amortization of intangible assets of $81,000.

INCOME TAX EXPENSE

Provision for income tax expense was $8.4 million for an effective rate of 24.4% for the first quarter of 2026, compared to $43.5 million for an effective rate of 31.1% for the most recent prior quarter, and $6.1 million for an effective rate of 23.7% for the first quarter of 2025. The effective tax rate in the fourth quarter of 2025 was impacted by the sale of TIA which resulted in a significant increase to pre-tax income and an adjustment for goodwill with no tax-basis.

ASSET QUALITY

The allowance for credit losses was 0.90% of total loans and leases at March 31, 2026, up from 0.89% at December 31, 2025, and down from 1.01% at March 31, 2025. The increase in the allowance for credit losses coverage ratio compared to year-end 2025 was mainly due to updated economic forecasts for unemployment for the quarter, as well as higher reserves for individually analyzed loans; while the decrease from March 31, 2025 was mainly due to lower reserves on individually analyzed loans. The ratio of the allowance to total nonperforming loans and leases was 113.06% at March 31, 2026, compared to 120.30% at December 31, 2025, and 85.85% at March 31, 2025.

Provision for credit losses for the first quarter of 2025 was $1.5 million compared to $977,000 for the fourth quarter of 2025, and $5.3 million for the first quarter of 2025. The provision expense in the first quarter of 2025 included $4.2 million for a specific reserve on an individually analyzed nonaccrual commercial real estate

relationship. Net charge-offs for the three months ended March 31, 2026 were $775,000, compared to $3.3 million for the fourth quarter of 2025, and $733,000 for the first quarter of 2025. The fourth quarter of 2025 included a $2.4 million charge-off on one commercial real estate relationship totaling $7.4 million.

Nonperforming assets of $51.7 million represented 0.59% of total assets at March 31, 2026, up from $48.2 million or 0.56% of total assets at December 31, 2025, and down from $71.2 million or 0.87% of total assets at March 31, 2025. Loans past due 30-89 days totaled $5.9 million at March 31, 2026, $8.8 million at December 31, 2025, and $12.3 million at March 31, 2025.

Special Mention and Substandard loans and leases totaled $120.4 million at March 31, 2026, compared to $134.5 million reported at December 31, 2025, and $110.8 million reported at March 31, 2025.

CAPITAL POSITION

Capital ratios at March 31, 2026 remained well above the regulatory minimums for well-capitalized institutions. The ratio of total capital to risk-weighted assets was 14.78% at March 31, 2026, compared to 14.56% at December 31, 2025, and 13.28% at March 31, 2025. The ratio of Tier 1 capital to average assets was 10.58% at March 31, 2026, compared to 10.62% at December 31, 2025, and 9.31% at March 31, 2025.

During the first quarter of 2026, the Company repurchased 23,731 shares of common stock at an aggregate cost of $1.8 million. These shares were purchased under the Company's 2025 Stock Repurchase Plan.

LIQUIDITY POSITION

The Company's liquidity position at March 31, 2026 was consistent with its position at December 31, 2025. Liquidity is enhanced by ready access to national and regional wholesale funding sources including Federal funds purchased, repurchase agreements, brokered deposits, Federal Reserve Bank's Discount Window advances and Federal Home Loan Bank (FHLB) advances. The Company maintained ready access to liquidity of $1.6 billion, or 18.9% of total assets, at March 31, 2026.

ABOUT TOMPKINS FINANCIAL CORPORATION

Tompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Community Bank, which offers a full array of financial products and services, including commercial and consumer banking. Tompkins Community Bank provides wealth management services, including investment management, trust and estate, financial and tax planning services, under the Tompkins Financial Advisors brand. For more information on Tompkins Financial, visit www.tompkinsfinancial.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not statements of historical fact may

include forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements may be identified by use of such words as "may", "could", "should", "will", "would", "estimate", "intend", "continue", "believe", "expect", "plan", "commit", or "anticipate", as well as the negative and other variations of these terms and other similar words. Examples of forward-looking statements may include statements regarding capital expectations, growth, and the sufficiency of collateral to cover exposure related to special mention and substandard loans. Forward-looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and economic environment, all of which are difficult to predict and many of which are beyond the control of the Company, that could cause actual results of the Company to differ materially from those expressed and/or implied by forward-looking statements and historical performance. The following factors, in addition to those listed as Risk Factors in Item 1A in our Annual Report on Form 10-K as filed with the Securities and Exchange Commission, are among those that could cause actual results to differ materially from the forward-looking statements and historical performance: changes in general economic, market and regulatory conditions; our ability to attract and retain deposits and other sources of liquidity; gross domestic product growth and inflation trends; the impact of the interest rate and inflationary environment on the Company's business, financial condition and results of operations; other income or cash flow anticipated from the Company's operations, investment and/or lending activities; changes in laws and regulations affecting public companies, banks, bank holding companies and/or financial holding companies, including the Dodd-Frank Act, and other federal, state and local government mandates; the impact of any change in the FDIC insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount; changing supervisory and regulatory scrutiny of financial institutions; technological developments and changes; cybersecurity incidents and threats; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; governmental and public policy changes, including environmental regulation; reliance on large customers; the geographic concentration of our business; the ability to access financial resources in the amounts, at the times, and on the terms required to support the Company's future businesses; and the economic impact, including market volatility, of national and global events, including the response to bank failures, war and geopolitical matters (including continuing or increasing hostilities in the Middle East and the war in Ukraine), tariffs and trade wars, widespread protests, civil unrest, political uncertainty, and pandemics or other public health crises, and the related financial stress on borrowers and changes to customer behavior and credit risk resulting from any of the foregoing. The Company does not undertake any obligation to update its forward-looking statements.

TOMPKINS FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CONDITION

(In thousands, except share and per share data) As of As of

ASSETS 03/31/2026 12/31/2025

(Audited)

Cash and noninterest bearing balances due from banks $ 68,665 $ 50,717

Interest bearing balances due from banks 102,784 82,100

Cash and Cash Equivalents 171,449 132,817

Available-for-sale debt securities, at fair value (amortized cost of $1,407,770 at March 31, 2026 and $1,391,379 at December 31, 2025)

1,388,910 1,382,068

Held-to-maturity debt securities, at amortized cost (fair value of $282,589 at March 31, 2026 and $283,860 at December 31, 2025)

312,545 312,528

Equity securities, at fair value 795 800

Loans held for sale 54 43,440

Total loans and leases, net of unearned income and deferred costs and fees 6,477,943 6,446,245

Less: Allowance for credit losses 58,108 57,671

Net Loans and Leases 6,419,835 6,388,574

Federal Home Loan Bank and other stock 27,189 32,307

Bank premises and equipment, net 71,000 72,418

Corporate owned life insurance 78,490 77,843

Goodwill 72,736 72,736

Accrued interest and other assets 152,758 152,737

Total Assets $ 8,695,761 $ 8,668,268

LIABILITIES

Deposits:

Interest bearing:

Checking, savings and money market 3,889,995 3,742,402

Time 1,292,391 1,298,393

Noninterest bearing 1,871,786 1,896,967

Total Deposits 7,054,172 6,937,762

Federal funds purchased and securities sold under agreements to repurchase 118,133 95,569

Other borrowings 449,446 564,446

Other liabilities 127,269 132,114

Total Liabilities $ 7,749,020 $ 7,729,891

EQUITY

Tompkins Financial Corporation shareholders' equity:

Common Stock - par value $0.10 per share: Authorized 25,000,000 shares; Issued: 14,420,973 at March 31, 2026; and 14,449,845 at December 31, 2025

1,443 1,446

Additional paid-in capital 297,181 299,206

Retained earnings 678,575 662,161

Accumulated other comprehensive loss (26,098) (19,054)

Treasury stock, at cost – 88,982 shares at March 31, 2026, and 104,492 shares at December 31, 2025

(4,360) (5,382)

Total Equity $ 946,741 $ 938,377

Total Liabilities and Equity $ 8,695,761 $ 8,668,268

TOMPKINS FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data) (Unaudited) Three Months Ended

03/31/2026 12/31/2025 03/31/2025

INTEREST AND DIVIDEND INCOME

Loans $ 87,123 $ 87,372 $ 78,630

Due from banks 166 211 175

Available-for-sale debt securities 13,702 11,509 8,729

Held-to-maturity debt securities 1,218 1,225 1,217

Federal Home Loan Bank and other stock 460 593 711

Total Interest and Dividend Income 102,669 $ 100,910 $ 89,462

INTEREST EXPENSE

Time certificates of deposits of $250,000 or more 4,478 4,527 4,507

Other deposits 21,531 23,318 22,143

Federal funds purchased and securities sold under agreements to repurchase 18 21 41

Other borrowings 4,781 3,983 6,109

Total Interest Expense 30,808 31,849 32,800

Net Interest Income 71,861 69,061 56,662

Less: Provision for credit loss expense 1,502 977 5,287

Net Interest Income After Provision for Credit Loss Expense 70,359 68,084 51,375

NONINTEREST INCOME

Insurance commissions and fees 0 3,079 11,599

Wealth management fees 5,266 5,053 5,119

Service charges on deposit accounts 1,795 1,819 1,805

Card services income 2,642 2,835 2,626

Gain on sale of TIA 0 188,241 0

Other income 2,136 3,451 3,869

Net gain (loss) on securities transactions (5) (78,715) 14

Total Noninterest Income 11,834 125,763 25,032

NONINTEREST EXPENSE

Salaries and wages 21,948 29,630 24,977

Other employee benefits 6,807 6,642 7,100

Net occupancy expense of premises 3,455 3,102 3,570

Furniture and fixture expense 2,027 1,795 1,787

Other operating expense 13,489 12,966 13,173

Total Noninterest Expenses 47,726 54,135 50,607

Income Before Income Tax Expense 34,467 139,712 25,800

Income Tax Expense 8,393 43,464 6,121

Net Income Attributable to Tompkins Financial Corporation $ 26,074 96,248 19,679

Basic Earnings Per Share $ 1.83 $ 6.74 $ 1.38

Diluted Earnings Per Share $ 1.82 $ 6.70 $ 1.37

Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)

Quarter Ended Quarter Ended Quarter Ended

March 31, 2026 December 31, 2025 March 31, 2025

(dollar amounts in thousands) Average

Balance

(QTD) Interest Average

Yield/Rate Average

Balance

(QTD) Interest Average

Yield/Rate Average

Balance

(QTD) Interest Average

Yield/Rate

ASSETS

Interest-earning assets

Interest-bearing balances due from banks $ 13,394 $ 166 5.03 % $ 17,795 $ 211 4.70 % $ 16,424 $ 175 4.32 %

Securities1

U.S. Government securities 1,636,770 14,435 3.58 % 1,595,043 12,244 3.04 % 1,598,785 9,441 2.39 %

State and municipal2

81,218 536 2.68 % 81,613 537 2.61 % 85,893 554 2.62 %

Other Securities2

3,305 49 6.01 % 3,298 52 6.25 % 3,275 53 6.56 %

Total securities 1,721,293 15,020 3.54 % 1,679,954 12,833 3.03 % 1,687,953 10,048 2.41 %

FHLBNY and FRB stock 29,016 460 6.43 % 24,113 593 9.76 % 31,983 711 9.01 %

Total loans and leases, net of unearned income2,3

6,434,853 87,337 5.50 % 6,336,565 87,612 5.48 % 6,025,363 78,835 5.31 %

Total interest-earning assets 8,198,556 102,983 5.09 % 8,058,427 101,249 4.98 % 7,761,723 89,769 4.69 %

Other assets 382,767 313,860 294,855

Total assets $ 8,581,323 $ 8,372,287 $ 8,056,578

LIABILITIES & EQUITY

Deposits

Interest-bearing deposits

Interest bearing checking, savings, & money market $ 3,823,812 $ 15,589 1.65 % $ 3,779,290 $ 16,695 1.75 % $ 3,682,318 $ 16,093 1.77 %

Time deposits 1,285,701 10,420 3.29 % 1,282,009 11,150 3.45 % 1,159,039 10,557 3.69 %

Total interest-bearing deposits 5,109,513 26,009 2.06 % 5,061,299 27,845 2.18 % 4,841,357 26,650 2.23 %

Federal funds purchased & securities sold under agreements to repurchase 42,788 18 0.17 % 42,221 21 0.20 % 47,653 41 0.35 %

Other borrowings 491,310 4,781 3.95 % 380,920 3,983 4.15 % 561,983 6,109 4.41 %

Total interest-bearing liabilities 5,643,611 30,808 2.21 % 5,484,440 31,849 2.30 % 5,450,993 32,800 2.44 %

Noninterest bearing deposits 1,855,440 1,911,583 1,779,197

Accrued expenses and other liabilities 130,879 100,606 98,278

Total liabilities 7,629,930 7,496,629 7,328,468

Tompkins Financial Corporation Shareholders’ equity 951,393 875,658 728,110

Noncontrolling interest 0 0 0

Total equity 951,393 875,658 728,110

Total liabilities and equity $ 8,581,323 $ 8,372,287 $ 8,056,578

Interest rate spread 2.88 % 2.68 % 2.25 %

Tax-equivalent net interest income/margin on earning assets 72,175 3.57 % 69,400 3.42 % 56,969 2.98 %

Tax-equivalent adjustment (314) (339) (307)

Net interest income $ 71,861 $ 69,061 $ 56,662

Tompkins Financial Corporation - Summary Financial Data (Unaudited)

(In thousands, except per share data)

Quarter-Ended Year-Ended

Period End Balance Sheet Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-25

Securities $ 1,702,250 $ 1,695,396 $ 1,604,357 $ 1,588,647 $ 1,572,602 $ 1,695,396

Total Loans 6,477,943 6,446,245 6,288,071 6,172,654 6,066,645 6,446,245

Allowance for credit losses 58,108 57,671 59,889 58,555 61,023 57,671

Total assets 8,695,761 8,668,268 8,468,731 8,373,818 8,199,653 8,668,268

Total deposits 7,054,172 6,937,762 7,053,070 6,715,795 6,753,502 6,937,762

Brokered deposits 109,712 114,391 145,223 138,787 99,763 114,391

Federal funds purchased and securities sold under agreements to repurchase 118,133 95,569 80,804 127,111 122,985 95,569

Other borrowings 449,446 564,446 444,866 672,696 493,247 564,446

Total equity 946,741 938,377 788,805 761,793 741,377 938,377

Average Balance Sheet

Average earning assets $ 8,198,556 $ 8,058,427 $ 7,967,674 $ 7,875,490 $ 7,761,723 $ 7,916,783

Average assets 8,581,323 8,372,287 8,297,448 8,168,595 8,056,578 8,224,794

Average interest-bearing liabilities 5,643,611 5,484,440 5,530,563 5,503,624 5,450,993 5,492,601

Average equity 951,393 875,658 771,527 749,975 728,110 781,695

Share data

Weighted average shares outstanding (basic) 14,250,969 14,270,206 14,248,533 14,246,395 14,246,140 14,252,810

Weighted average shares outstanding (diluted) 14,347,514 14,356,680 14,345,219 14,320,125 14,319,440 14,335,358

Period-end shares outstanding 14,392,337 14,420,495 14,431,300 14,430,985 14,433,873 14,420,495

Common equity book value per share $ 65.78 $ 65.07 $ 54.66 $ 52.79 $ 51.36 $ 65.07

Tangible book value per share (Non-GAAP)** $ 60.73 $ 60.03 $ 48.19 $ 46.31 $ 44.88 $ 60.03

**See "Non-GAAP measures" below for a discussion of non-GAAP financial measures and a reconciliation of non-GAAP financial measures to the most directly comparable financial measures presented in accordance with GAAP.

Income Statement

Net interest income $ 71,861 $ 69,061 $ 63,878 $ 60,130 $ 56,662 $ 249,731

Provision for credit loss expense 1,502 977 2,490 2,780 5,287 11,534

Noninterest income 11,834 125,763 23,564 22,512 25,032 196,871

Noninterest expense 47,726 54,135 53,847 51,623 50,607 210,212

Income tax expense 8,393 43,464 7,432 6,768 6,121 63,785

Net income attributable to Tompkins Financial Corporation 26,074 96,248 23,673 21,471 19,679 161,071

Basic earnings per share4

1.83 6.74 1.66 1.51 1.38 11.30

Diluted earnings per share4

1.82 6.70 1.65 1.50 1.37 11.24

Nonperforming Assets

Nonaccrual loans and leases $ 51,271 $ 47,794 $ 52,805 $ 52,325 $ 70,891 $ 47,794

Loans and leases 90 days past due and accruing 124 146 166 166 187 146

Total nonperforming loans and leases 51,395 47,940 52,971 52,491 71,078 47,940

OREO 269 229 0 81 81 229

Total nonperforming assets $ 51,664 $ 48,169 $ 52,971 $ 52,572 $ 71,159 $ 48,169

Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued

Quarter-Ended Year-Ended

Delinquency - Total loan and lease portfolio Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-25

Loans and leases 30-89 days past due and

accruing $ 5,874 $ 8,806 $ 7,841 $ 5,857 $ 12,285 $ 8,806

Loans and leases 90 days past due and accruing 124 146 166 166 187 146

Total loans and leases past due and accruing 5,998 8,952 8,007 6,023 12,472 8,952

Allowance for Credit Losses

Balance at beginning of period $ 57,671 $ 59,889 $ 58,555 $ 61,023 $ 56,496 $ 56,496

Provision for credit losses 1,212 1,064 2,454 2,786 5,260 $ 11,564

Net loan and lease charge-offs (recoveries) 775 3,282 1,120 5,254 733 $ 10,389

Allowance for credit losses at end of period $ 58,108 $ 57,671 $ 59,889 $ 58,555 $ 61,023 $ 57,671

Allowance for Credit Losses - Off-Balance Sheet Exposure

Balance at beginning of period $ 1,433 $ 1,520 $ 1,484 $ 1,490 $ 1,463 $ 1,463

Provision (credit) for credit losses 290 (87) 36 (6) 27 $ (30)

Allowance for credit losses at end of period $ 1,723 $ 1,433 $ 1,520 $ 1,484 $ 1,490 $ 1,433

Loan Classification - Total Portfolio

Special Mention $ 66,104 $ 100,717 $ 88,398 $ 40,048 $ 34,790 $ 100,717

Substandard 54,331 33,764 55,762 56,740 75,980 33,764

Ratio Analysis

Credit Quality

Nonperforming loans and leases/total loans and leases 0.79 % 0.74 % 0.84 % 0.85 % 1.17 % 0.74 %

Nonperforming assets/total assets 0.59 % 0.56 % 0.63 % 0.63 % 0.87 % 0.56 %

Allowance for credit losses/total loans and leases 0.90 % 0.89 % 0.95 % 0.95 % 1.01 % 0.89 %

Allowance/nonperforming loans and leases 113.06 % 120.30 % 113.06 % 111.55 % 85.85 % 120.30 %

Net loan and lease losses (recoveries) annualized/total average loans and leases 0.05 % 0.21 % 0.07 % 0.34 % 0.05 % 0.17 %

Capital Adequacy

Tier 1 Capital (to average assets) 10.58 % 10.62 % 9.41 % 9.36 % 9.31 % 10.62 %

Total Capital (to risk-weighted assets) 14.78 % 14.56 % 13.27 % 13.15 % 13.28 % 14.56 %

Profitability (period-end)

Return on average assets * 1.23 % 4.56 % 1.13 % 1.05 % 0.99 % 1.96 %

Return on average equity * 11.11 % 43.61 % 12.17 % 11.48 % 10.96 % 20.61 %

Net interest margin (TE) * 3.57 % 3.42 % 3.20 % 3.08 % 2.98 % 3.17 %

Average yield on interest-earning assets* 5.09 % 4.98 % 4.90 % 4.79 % 4.69 % 4.84 %

Average cost of deposits* 1.51 % 1.58 % 1.64 % 1.64 % 1.63 % 1.62 %

Average cost of funds* 1.67 % 1.71 % 1.83 % 1.84 % 1.84 % 1.80 %

* Quarterly ratios have been annualized

Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued

Non-GAAP Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as reconciliation to the comparable GAAP measure, is provided in the below tables. The Company believes the non-GAAP measures provide meaningful comparisons of our underlying operational performance and facilitate management's and investors' assessments of business and performance trends in comparison to others in the financial services industry. These non-GAAP financial measures should not be considered in isolation or as a measure of the Company's profitability or liquidity; they are in addition to, and are not a substitute for, financial measures under GAAP. The non-GAAP financial measures presented herein may be different from non-GAAP financial measures used by other companies, and may not be comparable to similarly titled measures reported by other companies. Further, the Company may utilize other measures to illustrate performance in the future. Non-GAAP financial measures have limitations since they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP.

Reconciliation of Tangible Book Value Per Share (non-GAAP) to Common Equity Book Value Per Share (GAAP)

Quarter-Ended Year-Ended

Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-25

Common equity book value per share (GAAP) $ 65.78 $ 65.07 $ 54.66 $ 52.79 $ 51.36 $ 65.07

Total common equity $ 946,741 $ 938,377 $ 788,805 $ 761,793 $ 741,377 $ 938,377

Less: Goodwill and intangibles* 72,766 72,766 93,405 93,503 93,586 72,766

Tangible common equity (Non-GAAP) 873,975 865,611 695,400 668,290 647,791 865,611

Ending shares outstanding 14,392,337 14,420,495 14,431,300 14,430,985 14,433,873 14,420,495

Tangible book value per share (Non-GAAP) $ 60.73 $ 60.03 $ 48.19 $ 46.31 $ 44.88 $ 60.03

*The decline in goodwill for the fourth quarter and full year 2025 over the prior periods shown in the table reflects the sale of TIA.

Reconciliation of Operating or Adjusted Net Income Available to Common Shareholders/Operating or Adjusted Diluted Earnings Per Share (Non-GAAP) to Net Income Available to Common Shareholders/Diluted Earnings Per Share (GAAP); Operating or Adjusted Return on Average Assets, Operating or Adjusted Return on Average Equity and Adjusted Operating Return on Average Shareholders' Tangible Common Equity (Non-GAAP) to Return on Average Assets and Return on Average Equity (GAAP)

QTD QTD QTD

(In thousands, except per share data) 03/31/2026 12/31/2025 03/31/2025

Net income available to common shareholders $ 26,074 $ 96,248 $ 19,679

Less: income attributable to unvested stock-based compensation awards 0 0 0

Net earnings allocated to common shareholders (GAAP) 26,074 96,248 19,679

Diluted earnings per share (GAAP) 1.82 6.70 1.37

Adjustments for non-operating income and expense:

(Gain) loss on sale of investment securities 0 78,721 0

(Gain) from sale of Tompkins Insurance Agencies, Inc. 0 (183,902) 0

Total adjustments 0 (105,181) 0

Tax expense 0 (34,509) 0

Total adjustments, net of tax 0 (70,672) 0

Operating or adjusted net income (Non-GAAP) 26,074 25,576 19,679

Weighted average shares outstanding (basic) 14,250,969 14,270,206 14,246,140

Weighted average shares outstanding (diluted) 14,347,514 14,356,680 14,319,440

Operating or adjusted basic earnings per share (Non-GAAP) 1.83 1.79 1.38

Operating or adjusted diluted earnings per share (Non-GAAP) 1.82 1.78 1.37

Net income available to common shareholders 26,074 96,248 19,679

Operating or adjusted net income (Non-GAAP) 26,074 25,576 19,679

Average total assets 8,581,323 8,372,287 8,056,578

Return on average assets (GAAP) 1.23 % 4.56 % 0.99 %

Operating or adjusted return on average assets (Non-GAAP) 1.23 % 1.21 % 0.99 %

Net income available to common shareholders 26,074 96,248 19,679

Operating or adjusted net income (Non-GAAP) 26,074 25,576 19,679

Average total equity 951,393 875,658 728,110

Return on average equity (GAAP) 11.11 % 43.61 % 10.96 %

Operating or adjusted return on average equity (Non-GAAP) 11.11 % 11.59 % 10.96 %

Operating or adjusted net income (Non-GAAP) 26,074 25,576 19,679

Average Tompkins Financial Corporation shareholders' equity 951,393 875,658 728,110

Amortization of intangibles 0 27 0

Tax expense 0 6 0

Amortization of intangibles, net of tax 0 21 0

Operating or adjusted net income (Non-GAAP) 26,074 25,597 19,679

Average Tompkins Financial Corporation shareholders' equity 951,393 875,658 728,110

Average goodwill and intangibles 72,766 79,494 93,637

Average Tompkins Financial Corporation shareholders' tangible common equity (Non-GAAP) $ 878,627 $ 796,164 $ 634,473

Operating or adjusted return on average shareholders' tangible common equity (Non-GAAP) 12.04 % 12.76 % 12.58 %

1 Average balances and yields on available-for-sale securities are based on historical amortized cost.

2 Interest income includes the tax effects of taxable-equivalent adjustments using an effective income tax rate of 21% in 2026 and 2025 to increase tax exempt interest income to taxable-equivalent basis.

3 Nonaccrual loans are included in the average asset totals presented above. Payments received on nonaccrual loans have been recognized as disclosed in Note 1 of the Company's consolidated financial statements included in Part I of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

4 Earnings per share for the full fiscal year may not equal the sum of the quarterly earnings per share as a result of rounding of average shares.

EX-99.2

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Document

For more information contact:

Stephen S. Romaine, President & CEO

Matthew Tomazin, Executive VP & CFO

Tompkins Financial Corporation (888) 503-5753

For Immediate Release

Friday, April 24, 2026

Tompkins Financial Corporation Reports Cash Dividend

ITHACA, NY - Tompkins Financial Corporation (NYSE American: TMP)

Tompkins Financial Corporation announced today that its Board of Directors approved payment of a regular quarterly cash dividend of $0.67 per share, payable on May 15, 2026, to common shareholders of record on May 8, 2026. The dividend amount represents an increase of $0.05 per share, or 7.5% over the dividend paid in the first quarter of 2025.

ABOUT TOMPKINS FINANCIAL CORPORATION

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