Tompkins Financial Corporation has reported a significant improvement in its financial results for the second quarter of 2025, with diluted earnings per share reaching $1.50, marking a 9.5% increase from the previous quarter and a 36.4% rise from the same period in 2024. The company’s net income for the quarter stood at $21.5 million, up by $5.8 million or 36.9% compared to the second quarter of the previous year. This growth is attributed to an expansion in net interest margin and overall business growth, including a 7.5% increase in average loans and a 5.2% rise in average deposits.

Stephen Romaine, President and CEO of Tompkins Financial, emphasized the company’s positive momentum, noting the year-to-date net income growth of over 25% compared to 2024. The financial highlights for the period include a net interest margin improvement to 3.08%, up 35 basis points from the second quarter of 2024, and total loans increasing by $410.8 million or 7.1% from June 30, 2024. The company’s strategic focus on maintaining a strong balance sheet and fostering customer relationships has been pivotal in achieving these results.

Further analysis reveals that net interest income for the second quarter of 2025 was $60.1 million, up by $9.2 million or 18.0% from the same quarter in 2024. This increase was supported by higher average loan balances and improved net interest margin. Noninterest income also saw a rise, reaching $22.5 million, up by $736,000 or 3.4% from the second quarter of 2024, primarily due to increases in insurance commissions and wealth management fees.

Tompkins Financial’s asset quality showed improvement, with nonperforming assets decreasing to $52.6 million or 0.63% of total assets at June 30, 2025, down from $71.2 million or 0.87% at March 31, 2025. The company’s capital ratios remained strong, well above regulatory minimums, and it announced a new Stock Repurchase Program to repurchase up to 400,000 shares of its outstanding common stock over the next 24 months.

The company’s liquidity position remained stable, with access to $1.5 billion in liquidity, representing 18.0% of total assets at June 30, 2025. This financial stability and growth underscore Tompkins Financial’s commitment to supporting its local communities and building quality customer relationships while navigating the dynamic financial landscape.

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