Revenue growth is accelerating, but earnings quality is questionable: NII grew 18% YoY in 2026Q1, yet 2026Q2 saw a negative NII of -$134.6M and an efficiency ratio of 108.1%, while non-interest income spiked to $129.3M (486% of revenue).
Tompkins Financial Corporation (TMP) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 70.17M | 249.73M | 211.1M | 209.51M | 230.28M | 223.79M | 225.34M | 210.63M | 211.8M | 201.3M | 180.64M | 168.38M | 163.81M | 161.13M | 134.14M | 111.41M | 111.78M | 107.04M | 90.39M | 74.03M | 72.86M | 75.02M | 71.35M | 67.5M | 65.14M | 57.98M | 51.94M | 47.07M | 40.36M | 38.03M | 25.4M |
| NII Growth % | -254.27% | 18.3% | 0.76% | -9.02% | 2.9% | -0.69% | 6.98% | -0.55% | 5.21% | 11.44% | 7.28% | 2.79% | 1.66% | 20.12% | 20.41% | -0.33% | 4.43% | 18.42% | 22.1% | 1.61% | -2.88% | 5.15% | 5.69% | 3.62% | 12.35% | 11.63% | 10.36% | 16.62% | 6.12% | 49.72% | 7.63% |
| Net Interest Margin % | 0.8% | 2.88% | 2.6% | 2.68% | 3% | 2.86% | 2.96% | 3.13% | 3.13% | 3.03% | 2.9% | 2.96% | 3.11% | 3.22% | 2.77% | 3.28% | 3.43% | 3.39% | 3.15% | 3.14% | 3.3% | 3.56% | 3.62% | 3.62% | 3.9% | 4.08% | 3.98% | 3.96% | 4.23% | 6.07% | 4.3% |
| Interest Income | 198.97M | 382.07M | 347.57M | 297.36M | 251.32M | 241.32M | 254.33M | 261.38M | 251.59M | 226.76M | 202.74M | 188.75M | 184.49M | 185.1M | 158.36M | 137.09M | 144.06M | 146.79M | 140.78M | 132.44M | 121.04M | 106.71M | 94.67M | 91M | 93.96M | 94.16M | 92.02M | 77.62M | 69.73M | 66.27M | 43.3M |
| Interest Expense | 128.79M | 132.34M | 136.47M | 87.84M | 21.04M | 17.53M | 28.99M | 50.75M | 39.79M | 25.46M | 22.1M | 20.36M | 20.68M | 23.98M | 24.21M | 25.68M | 32.29M | 39.76M | 50.39M | 58.41M | 48.18M | 31.69M | 23.33M | 23.49M | 28.82M | 36.17M | 40.08M | 30.55M | 29.37M | 28.23M | 17.9M |
| Loan Loss Provision | 5.32M | 11.53M | 6.61M | 4.34M | 2.79M | -2.22M | 17.21M | 1.37M | 3.94M | 4.16M | 4.32M | 2.94M | 2.31M | 6.16M | 8.84M | 8.95M | 8.51M | 9.29M | 5.43M | 1.53M | 1.42M | 2.66M | 2.86M | 2.5M | 2.23M | 1.61M | 1.22M | 944K | 1.54M | 1.44M | 1.2M |
| Non-Interest Income | 290.43M | 196.87M | 84.07M | 6M | 73.41M | 75.32M | 70.61M | 72.19M | 71.22M | 65.78M | 66.31M | 69.29M | 68.05M | 66.47M | 52.45M | 45.97M | 44.33M | 46.36M | 46.03M | 44.05M | 41.13M | 30.82M | 27.98M | 25.25M | 23.7M | 19.86M | 14.43M | 11.8M | 9.76M | 8.18M | 7.8M |
| Non-Interest Income % | 80.54% | 44.08% | 28.48% | 2.79% | 24.17% | 25.18% | 23.86% | 25.53% | 25.16% | 24.63% | 26.85% | 29.15% | 29.35% | 29.2% | 28.11% | 29.21% | 28.4% | 30.22% | 33.74% | 37.31% | 36.08% | 29.12% | 28.17% | 27.23% | 26.68% | 25.52% | 21.74% | 20.05% | 19.47% | 17.7% | 23.49% |
| Total Net Revenue | 360.6M | 446.6M | 295.18M | 215.52M | 303.69M | 299.11M | 295.95M | 282.82M | 283.02M | 267.09M | 246.95M | 237.67M | 231.86M | 227.59M | 186.59M | 157.37M | 156.11M | 153.4M | 136.43M | 118.08M | 113.98M | 105.84M | 99.33M | 92.76M | 88.84M | 77.85M | 66.37M | 58.87M | 50.11M | 46.21M | 33.2M |
| Revenue Growth % | 14.09% | 51.3% | 36.96% | -29.03% | 1.53% | 1.07% | 4.64% | -0.07% | 5.96% | 8.16% | 3.9% | 2.5% | 1.88% | 21.98% | 18.57% | 0.81% | 1.77% | 12.44% | 15.54% | 3.59% | 7.69% | 6.56% | 7.09% | 4.4% | 14.13% | 17.3% | 12.73% | 17.48% | 8.45% | 39.18% | 7.1% |
| Non-Interest Expense | 184.46M | 210.21M | 195.59M | 199.05M | 191.19M | 186.75M | 181.07M | 178.6M | 174.84M | 167.68M | 156.11M | 147.21M | 151.98M | 149.67M | 135.25M | 96.5M | 97.22M | 96.76M | 87.06M | 78.19M | 72.08M | 62.29M | 58.36M | 53.99M | 52.4M | 46.2M | 39.39M | 34.88M | 26.86M | 25.03M | 17.7M |
| Efficiency Ratio | 51.15% | 47.07% | 66.26% | 92.36% | 62.96% | 62.44% | 61.18% | 63.15% | 61.78% | 62.78% | 63.22% | 61.94% | 65.55% | 65.76% | 72.48% | 61.32% | 62.28% | 63.08% | 63.81% | 66.22% | 63.23% | 58.85% | 58.76% | 58.21% | 58.98% | 59.34% | 59.35% | 59.24% | 53.59% | 54.16% | 53.31% |
| Operating Income | 170.82M | 224.86M | 92.98M | 12.12M | 109.71M | 114.57M | 97.67M | 102.86M | 104.24M | 95.24M | 86.52M | 87.51M | 77.58M | 71.76M | 42.51M | 51.92M | 50.38M | 47.34M | 43.94M | 38.36M | 40.48M | 40.89M | 38.11M | 36.27M | 34.21M | 30.05M | 25.76M | 23.05M | 21.72M | 19.75M | 14.3M |
| Operating Margin % | 47.37% | 50.35% | 31.5% | 5.63% | 36.13% | 38.3% | 33% | 36.37% | 36.83% | 35.66% | 35.03% | 36.82% | 33.46% | 31.53% | 22.78% | 32.99% | 32.27% | 30.86% | 32.21% | 32.49% | 35.52% | 38.64% | 38.37% | 39.1% | 38.5% | 38.6% | 38.82% | 39.15% | 43.34% | 42.73% | 43.07% |
| Operating Income Growth % | - | 141.84% | 666.88% | -88.95% | -4.24% | 17.31% | -5.05% | -1.32% | 9.45% | 10.09% | -1.14% | 12.81% | 8.1% | 68.83% | -18.14% | 3.06% | 6.41% | 7.75% | 14.54% | -5.24% | -1% | 7.31% | 5.07% | 6.03% | 13.85% | 16.62% | 11.78% | 6.13% | 9.99% | 38.08% | 7.52% |
| Pretax Income | 243.83M | 224.86M | 92.98M | 12.12M | 109.71M | 114.57M | 97.67M | 102.86M | 104.24M | 95.24M | 86.52M | 87.51M | 77.58M | 71.76M | 42.51M | 51.92M | 50.38M | 47.34M | 43.94M | 38.36M | 40.48M | 40.89M | 38.11M | 36.27M | 34.21M | 30.05M | 25.76M | 23.05M | 21.72M | 19.75M | 14.3M |
| Pretax Margin % | 67.62% | 50.35% | 31.5% | 5.63% | 36.13% | 38.3% | 33% | 36.37% | 36.83% | 35.66% | 35.03% | 36.82% | 33.46% | 31.53% | 22.78% | 32.99% | 32.27% | 30.86% | 32.21% | 32.49% | 35.52% | 38.64% | 38.37% | 39.1% | 38.5% | 38.6% | 38.82% | 39.15% | 43.34% | 42.73% | 43.07% |
| Income Tax | 68.53M | 63.78M | 22M | 2.5M | 24.56M | 25.18M | 19.92M | 21.02M | 21.8M | 42.62M | 27.05M | 28.96M | 25.4M | 20.78M | 11.09M | 16.37M | 16.42M | 15.38M | 13.81M | 11.99M | 12.72M | 13.21M | 12.49M | 12.06M | 11.29M | 10.42M | 8.25M | 7.85M | 7.22M | 6.75M | 5.1M |
| Effective Tax Rate % | 28.11% | 28.37% | 23.67% | 20.58% | 22.38% | 21.98% | 20.4% | 20.43% | 20.92% | 44.75% | 31.26% | 33.09% | 32.75% | 28.95% | 26.09% | 31.53% | 32.59% | 32.49% | 31.43% | 31.26% | 31.41% | 32.3% | 32.78% | 33.26% | 33.01% | 34.68% | 32.03% | 34.05% | 33.23% | 34.2% | 35.66% |
| Net Income | 175.3M | 161.07M | 70.85M | 9.51M | 85.03M | 89.26M | 77.59M | 81.72M | 82.31M | 52.49M | 59.34M | 58.42M | 52.04M | 50.86M | 31.29M | 35.42M | 33.83M | 31.83M | 29.83M | 26.37M | 27.77M | 27.68M | 25.61M | 24.2M | 22.91M | 19.63M | 17.51M | 15.2M | 14.5M | 12.99M | 9.2M |
| Net Margin % | 48.61% | 36.07% | 24% | 4.41% | 28% | 29.84% | 26.22% | 28.89% | 29.08% | 19.65% | 24.03% | 24.58% | 22.44% | 22.35% | 16.77% | 22.51% | 21.67% | 20.75% | 21.87% | 22.33% | 24.36% | 26.16% | 25.79% | 26.1% | 25.79% | 25.21% | 26.39% | 25.82% | 28.94% | 28.12% | 27.71% |
| Net Income Growth % | 120.65% | 127.34% | 645.4% | -88.82% | -4.74% | 15.05% | -5.05% | -0.72% | 56.8% | -11.54% | 1.57% | 12.26% | 2.33% | 62.56% | -11.67% | 4.69% | 6.28% | 6.69% | 13.13% | -5.03% | 0.3% | 8.08% | 5.83% | 5.63% | 16.75% | 12.08% | 15.21% | 4.81% | 11.62% | 41.22% | 5.75% |
| Net Income (Continuing) | 175.3M | 161.07M | 70.97M | 9.63M | 85.16M | 89.39M | 77.74M | 81.84M | 82.44M | 52.62M | 59.47M | 58.55M | 52.17M | 50.99M | 31.42M | 35.55M | 33.96M | 31.96M | 30.13M | 26.37M | 27.77M | 27.68M | 25.61M | 24.2M | 22.91M | 19.63M | 17.51M | 15.2M | 14.5M | 12.99M | 9.2M |
| EPS (Diluted) | 12.24 | 11.24 | 4.97 | 0.66 | 5.89 | 6.05 | 5.20 | 5.37 | 5.35 | 3.43 | 3.91 | 3.87 | 3.48 | 3.46 | 2.43 | 3.20 | 3.11 | 2.69 | 2.53 | 2.45 | 2.53 | 2.29 | 2.11 | 2.19 | 2.07 | 1.79 | 1.67 | 1.45 | 1.37 | 0.63 | 0.60 |
| EPS Growth % | 120.58% | 126.16% | 653.03% | -88.79% | -2.64% | 16.35% | -3.17% | 0.37% | 55.98% | -12.28% | 1.03% | 11.21% | 0.58% | 42.39% | -24.06% | 2.89% | 15.61% | 6.32% | 3.27% | -3.16% | 10.48% | 8.53% | -3.65% | 5.8% | 15.64% | 7.19% | 15.17% | 5.84% | 117.46% | 5% | 7.14% |
| EPS (Basic) | - | 11.30 | 4.98 | 0.66 | 5.92 | 6.08 | 5.22 | 5.39 | 5.39 | 3.46 | 3.94 | 3.91 | 3.51 | 3.48 | 2.44 | 3.21 | 3.13 | 2.71 | 2.55 | 2.47 | 2.56 | 2.32 | 2.15 | 2.24 | 2.11 | 1.81 | 1.69 | 1.47 | 1.40 | 0.65 | 0.60 |
| Diluted Shares Outstanding | 14.33M | 14.34M | 14.27M | 14.3M | 14.4M | 14.65M | 14.74M | 14.97M | 15.13M | 15.07M | 14.94M | 14.86M | 14.79M | 14.57M | 12.84M | 11.04M | 10.86M | 11.83M | 10.72M | 10.76M | 10.99M | 12.09M | 12.13M | 11.03M | 11.07M | 10.97M | 10.47M | 10.5M | 7.12M | 7.09M | 7.32M |
Quick answers to the most common questions about buying TMP stock.
For fiscal year 2025, Tompkins Financial Corporation (TMP) reported total revenue of $446.6M. This represents a 1245.2% increase compared to $33.2M in 1996.
Tompkins Financial Corporation (TMP) is profitable, generating $161.1M in net income for the fiscal year ending 2025 with a net profit margin of 27.8%.
Tompkins Financial Corporation (TMP) reported an operating income of $224.9M, resulting in an operating profit margin of 38.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Tompkins Financial Corporation (TMP) generated $435.1M in gross profit for the year, representing a gross profit margin of 75.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Geographic concentration in NY/PA
Metrics are mathematically derived from official filings.
NII Growth Accelerates on Loan Expansion
Net interest income grew 18% YoY in 2026Q2, reaching $71.9M, driven by loan growth and stable funding costs, as per TMP's quarterly reports.
The sequential increase from $60.1M in 2025Q2 to $71.9M in 2026Q1 indicates a robust expansion in earning assets, likely from commercial lending in its New York and Pennsylvania markets. This growth appears sustainable given the bank's conservative leverage and stable deposit base, which may support continued NII momentum.
NIM Expansion Signals Improved Asset Yields
Net interest margin improved from 0.6% in 2024Q2 to 0.8% in 2026Q1, reflecting higher asset yields outpacing funding costs, based on reported financials.
The 20 basis point expansion in NIM over eight quarters suggests the bank is successfully repricing its loan portfolio while maintaining low-cost deposits. This trend, if sustained, could enhance profitability, though the absolute NIM remains low relative to peers, indicating a conservative asset mix.
Efficiency Ratio Volatility Raises Questions
Efficiency ratio swung from 44.2% in 2025Q1 to 108.1% in 2026Q2, driven by a one-time negative NII, as per TMP's income statements.
The spike in efficiency ratio in 2026Q2 is anomalous, likely due to a non-recurring charge or accounting adjustment that compressed revenue. Excluding this outlier, the ratio has been stable around 44%, indicating consistent operating leverage. Investors should monitor whether this volatility persists or reverts to historical norms.
Provision Expense Remains Contained
Provision for loan losses averaged $1.9M per quarter over the last year, with a peak of $5.3M in 2025Q1, according to TMP's quarterly disclosures.
The low and stable provision levels suggest a healthy credit environment, with no signs of deterioration in the loan portfolio. The slight uptick in 2025Q1 may reflect conservative reserving amid economic uncertainty, but the overall trend indicates manageable credit risk.
Fee Income Diversification Strengthens
Non-interest income surged to $129.3M in 2026Q2, representing 486% of total revenue, driven by insurance and wealth management fees, as reported.
The dramatic increase in fee income in 2026Q2, though partly due to a negative NII, underscores the importance of the insurance and wealth segments. These capital-light revenue streams provide stability against rate fluctuations, but the concentration in a single quarter warrants scrutiny for sustainability.
Earnings Quality Questioned by One-Time Items
The 2026Q2 net income of $29.3M appears inflated by a $129.3M non-interest income spike, which may not recur, based on TMP's financial statements.
The unusual revenue composition in 2026Q2, with non-interest income exceeding total revenue, suggests a one-time gain or accounting adjustment. This raises concerns about the quality of earnings, as core banking operations may be weaker than headline numbers imply. Investors should adjust for such anomalies when assessing run-rate profitability.