ITHACA — Tompkins Financial Corp. (NYSE Amex: TMP) earned $9.4 million, or 84 cents a share, in the fourth quarter, up 5.6 percent from a year earlier.
For the full year in 2011, the Ithaca–based banking company earned $35.4 million, or $3.20 per share, up 4.7 percent from 2010.
“2011 was a strong year for our company with net income and total assets at record levels,” Tompkins President and CEO Stephen Romaine said in a news release. “In an economic environment that continued to be challenging, we were able to grow both loans and deposits in 2011. We are also pleased with the favorable trends that we are seeing in asset quality measures, with classified loans down from prior quarter and year end 2010.”
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Total loans were $2 billion as of Dec. 31, up 3.7 percent from the end of 2010. Deposits at the end of the year totaled $2.7 billion, up 6.6 percent from 2010.
Tompkins Financial operates 45 offices in New York through three subsidiary banks: Tompkins Trust Co., The Bank of Castile, and Mahopac National Bank. The company also owns insurance and wealth-management subsidiaries and has total assets of more than $3.4 billion.
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