Tompkins Financial to pay Q3 dividend of 57 cents

ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) announced that its board of directors has approved payment of a regular quarterly cash dividend of 57 cents a share for the third quarter. 

The dividend is payable on Aug. 12, to common shareholders of record on Aug. 2. It is the same amount that the Ithaca–based banking company paid in each of the past three quarters.

At Tompkins Financial’s current stock price, the dividend yields about 3 percent on an annual basis.

Tompkins Financial separately announced that it generated net income of $20.9 million in the second quarter of this year, down 8.6 percent from $22.8 million in the same quarter in 2021. The decline was primarily attributable to a $3.9 million pretax variance in provision for credit losses, which was an expense of $856,000 in 2022, compared to a credit of $3.1 million in 2021, Tompkins said.

The banking company produced earnings per share of $1.45 in the second quarter, off 5.8 percent from $1.54 in the year-prior period. 

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.