ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors approved payment of a regular quarterly cash dividend of 57 cents per share for the first quarter. The dividend is payable on Feb. 15, to common shareholders of record on Feb. 8. The dividend is the same amount that the […]
ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors approved payment of a regular quarterly cash dividend of 57 cents per share for the first quarter.
The dividend is payable on Feb. 15, to common shareholders of record on Feb. 8. The dividend is the same amount that the Ithaca–based banking company paid in the fourth quarter, when it increased its quarterly payment by 5.6 percent from the 54 cents a share it paid in the third quarter.
At Tompkins Financial’s current stock price, the payment yields about 2.9 percent on an annual basis.
Tompkins Financial separately announced that it generated net income of nearly $19.5 million in the fourth quarter of 2021, down almost 19 percent from about $24 million in the same quarter in 2020. The banking company produced earnings per share of $1.33 in the fourth quarter, down more than 17 percent from $1.61 in the year-ago quarter.
“Earnings per share for the quarter were down from the same period last year largely due to [a] higher provision for credit losses in the current period, which included the charge-off of a commercial real estate relationship that was heavily impacted by pandemic related economic shutdowns,” Tompkins President and CEO, Stephen Romaine, said in a release. “Despite the loss recognized during the quarter, other credit quality metrics showed improvement from the most recent prior quarter, including reductions in nonperforming loans and loans in deferral status.”
Tompkins Financial is a banking and financial-services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial is parent to Tompkins Community Bank, Tompkins Insurance Agencies, Inc., and offers wealth-management services through Tompkins Financial Advisors.
