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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.
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•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.

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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
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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
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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.
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TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CONDITION
(In thousands, except share and per share data)As ofAs of
ASSETS03/31/202612/31/2025
(Audited)
Cash and noninterest bearing balances due from banks$68,665 $50,717 
Interest bearing balances due from banks102,784 82,100 
Cash and Cash Equivalents171,449 132,817 
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 value795 800 
Loans held for sale54 43,440 
Total loans and leases, net of unearned income and deferred costs and fees6,477,943 6,446,245 
Less: Allowance for credit losses58,108 57,671 
Net Loans and Leases6,419,835 6,388,574 
Federal Home Loan Bank and other stock27,189 32,307 
Bank premises and equipment, net71,000 72,418 
Corporate owned life insurance78,490 77,843 
Goodwill72,736 72,736 
Accrued interest and other assets152,758 152,737 
Total Assets$8,695,761 $8,668,268 
LIABILITIES
Deposits:
Interest bearing:
Checking, savings and money market3,889,995 3,742,402 
Time1,292,391 1,298,393 
Noninterest bearing1,871,786 1,896,967 
Total Deposits7,054,172 6,937,762 
Federal funds purchased and securities sold under agreements to repurchase118,133 95,569 
Other borrowings449,446 564,446 
Other liabilities127,269 132,114 
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 capital297,181 299,206 
Retained earnings678,575 662,161 
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 
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TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data) (Unaudited)Three Months Ended
03/31/202612/31/202503/31/2025
INTEREST AND DIVIDEND INCOME
Loans$87,123 $87,372 $78,630 
Due from banks166 211 175 
Available-for-sale debt securities13,702 11,509 8,729 
Held-to-maturity debt securities1,218 1,225 1,217 
Federal Home Loan Bank and other stock460 593 711 
Total Interest and Dividend Income102,669 $100,910 $89,462 
INTEREST EXPENSE
Time certificates of deposits of $250,000 or more4,478 4,527 4,507 
Other deposits21,531 23,318 22,143 
Federal funds purchased and securities sold under agreements to repurchase18 21 41 
Other borrowings4,781 3,983 6,109 
Total Interest Expense30,808 31,849 32,800 
Net Interest Income71,861 69,061 56,662 
Less: Provision for credit loss expense1,502 977 5,287 
Net Interest Income After Provision for Credit Loss Expense70,359 68,084 51,375 
NONINTEREST INCOME
Insurance commissions and fees0 3,079 11,599 
Wealth management fees5,266 5,053 5,119 
Service charges on deposit accounts1,795 1,819 1,805 
Card services income2,642 2,835 2,626 
Gain on sale of TIA0 188,241 0 
Other income2,136 3,451 3,869 
Net gain (loss) on securities transactions(5)(78,715)14 
Total Noninterest Income11,834 125,763 25,032 
NONINTEREST EXPENSE
Salaries and wages21,948 29,630 24,977 
Other employee benefits6,807 6,642 7,100 
Net occupancy expense of premises3,455 3,102 3,570 
Furniture and fixture expense2,027 1,795 1,787 
Other operating expense13,489 12,966 13,173 
Total Noninterest Expenses47,726 54,135 50,607 
Income Before Income Tax Expense34,467 139,712 25,800 
Income Tax Expense8,393 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 

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Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)
Quarter EndedQuarter EndedQuarter Ended
March 31, 2026December 31, 2025March 31, 2025
(dollar amounts in thousands)Average
Balance
(QTD)		InterestAverage
Yield/Rate		Average
Balance
(QTD)		InterestAverage
Yield/Rate		Average
Balance
(QTD)		InterestAverage
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 securities1,636,770 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 securities1,721,293 15,020 3.54 %1,679,954 12,833 3.03 %1,687,953 10,048 2.41 %
FHLBNY and FRB stock29,016 460 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 assets8,198,556 102,983 5.09 %8,058,427 101,249 4.98 %7,761,723 89,769 4.69 %
Other assets382,767 313,860 294,855 
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 deposits1,285,701 10,420 3.29 %1,282,009 11,150 3.45 %1,159,039 10,557 3.69 %
Total interest-bearing deposits5,109,513 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 repurchase42,788 18 0.17 %42,221 21 0.20 %47,653 41 0.35 %
Other borrowings491,310 4,781 3.95 %380,920 3,983 4.15 %561,983 6,109 4.41 %
Total interest-bearing liabilities5,643,611 30,808 2.21 %5,484,440 31,849 2.30 %5,450,993 32,800 2.44 %
Noninterest bearing deposits1,855,440 1,911,583 1,779,197 
Accrued expenses and other liabilities130,879 100,606 98,278 
Total liabilities7,629,930 7,496,629 7,328,468 
Tompkins Financial Corporation Shareholders’ equity951,393 875,658 728,110 
Noncontrolling interest0 0 0 
Total equity951,393 875,658 728,110 
Total liabilities and equity$8,581,323 $8,372,287 $8,056,578 
Interest rate spread2.88 %2.68 %2.25 %
Tax-equivalent net interest income/margin on earning assets72,175 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 

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Tompkins Financial Corporation - Summary Financial Data (Unaudited)
(In thousands, except per share data)
Quarter-EndedYear-Ended
Period End Balance SheetMar-26Dec-25Sep-25Jun-25Mar-25Dec-25
Securities$1,702,250 $1,695,396 $1,604,357 $1,588,647 $1,572,602 $1,695,396 
Total Loans6,477,943 6,446,245 6,288,071 6,172,654 6,066,645 6,446,245 
Allowance for credit losses58,108 57,671 59,889 58,555 61,023 57,671 
Total assets8,695,761 8,668,268 8,468,731 8,373,818 8,199,653 8,668,268 
Total deposits7,054,172 6,937,762 7,053,070 6,715,795 6,753,502 6,937,762 
Brokered deposits109,712 114,391 145,223 138,787 99,763 114,391 
Federal funds purchased and securities sold under agreements to repurchase118,133 95,569 80,804 127,111 122,985 95,569 
Other borrowings449,446 564,446 444,866 672,696 493,247 564,446 
Total equity946,741 938,377 788,805 761,793 741,377 938,377 

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 assets8,581,323 8,372,287 8,297,448 8,168,595 8,056,578 8,224,794 
Average interest-bearing liabilities5,643,611 5,484,440 5,530,563 5,503,624 5,450,993 5,492,601 
Average equity951,393 875,658 771,527 749,975 728,110 781,695 
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 outstanding14,392,337 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 expense1,502 977 2,490 2,780 5,287 11,534 
Noninterest income11,834 125,763 23,564 22,512 25,032 196,871 
Noninterest expense47,726 54,135 53,847 51,623 50,607 210,212 
Income tax expense8,393 43,464 7,432 6,768 6,121 63,785 
Net income attributable to Tompkins Financial Corporation26,074 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 accruing124 146 166 166 187 146 
Total nonperforming loans and leases51,395 47,940 52,971 52,491 71,078 47,940 
OREO269 229 0 81 81 229 
Total nonperforming assets$51,664 $48,169 $52,971 $52,572 $71,159 $48,169 
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Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued
Quarter-EndedYear-Ended
Delinquency - Total loan and lease portfolioMar-26Dec-25Sep-25Jun-25Mar-25Dec-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 accruing124 146 166 166 187 146 
Total loans and leases past due and accruing5,998 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 losses1,212 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 losses290 (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 
Substandard54,331 33,764 55,762 56,740 75,980 33,764 

Ratio Analysis
Credit Quality
Nonperforming loans and leases/total loans and leases0.79 %0.74 %0.84 %0.85 %1.17 %0.74 %
Nonperforming assets/total assets0.59 %0.56 %0.63 %0.63 %0.87 %0.56 %
Allowance for credit losses/total loans and leases0.90 %0.89 %0.95 %0.95 %1.01 %0.89 %
Allowance/nonperforming loans and leases113.06 %120.30 %113.06 %111.55 %85.85 %120.30 %
Net loan and lease losses (recoveries) annualized/total average loans and leases0.05 %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






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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-EndedYear-Ended
Mar-26Dec-25Sep-25Jun-25Mar-25Dec-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*72,76672,76693,40593,50393,58672,766 
Tangible common equity (Non-GAAP)873,975 865,611 695,400 668,290 647,791 865,611 
Ending shares outstanding14,392,337 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.



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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)
QTDQTDQTD
(In thousands, except per share data)03/31/202612/31/202503/31/2025
Net income available to common shareholders$26,074 $96,248 $19,679 
Less: income attributable to unvested stock-based compensation awards0 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 securities0 78,721 0 
(Gain) from sale of Tompkins Insurance Agencies, Inc.0 (183,902)0 
Total adjustments0 (105,181)0 
Tax expense0 (34,509)0 
Total adjustments, net of tax0 (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 shareholders26,074 96,248 19,679 
Operating or adjusted net income (Non-GAAP)26,074 25,576 19,679 
Average total assets8,581,323 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 shareholders26,074 96,248 19,679 
Operating or adjusted net income (Non-GAAP)26,074 25,576 19,679 
Average total equity951,393 875,658 728,110 
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' equity951,393 875,658 728,110 
Amortization of intangibles0 27 0 
Tax expense0 6 0 
Amortization of intangibles, net of tax0 21 0 
Operating or adjusted net income (Non-GAAP)26,074 25,597 19,679 
Average Tompkins Financial Corporation shareholders' equity951,393 875,658 728,110 
Average goodwill and intangibles72,766 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.
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