ITHACA, NY – Tompkins Financial Corporation (TMP–NYSE Amex)
Tompkins Financial Corporation, a $3.2 billion financial services holding company based in Ithaca, has been named to the American Bankers Association’s list of top performing banks for 2009.
In an article published in the May 2010 edition of ABA Banking Journal, Tompkins Financial Corporation ranks 10th out of 148 U.S. public banks, thrifts and holding companies with assets over $3 billion as of December 31, 2009. The ABA study rated the banks by return on average total equity (“ROAE”), with return on average total assets used as a tiebreaker.
Tompkins Financial reported ROAE of 13.7 percent in 2009, a figure that measures a company’s profitability over a fiscal year in relation to average shareholders’ equity. Tompkins Financial is the parent company of Tompkins Trust Company, The Bank of Castile, Mahopac National Bank, Tompkins Insurance Agencies, Tompkins Investment Services and AM&M Financial Services.
President and CEO Stephen S. Romaine commented, “While we don’t make decisions intended to place us on these short-term lists, it is gratifying to see our performance compare so favorably. Our focus remains on doing our best to perform well over the long term.” Tompkins Financial was the only institution with headquarters in New York State in the Top 10.
Data for the ABA article was provided by SNL Financial LC, while filings from the Securities and Exchange Commission were the source of public company data.
Tompkins Financial Corporation operates 45 banking offices in markets served by Tompkins Trust Company in Central New York, The Bank of Castile in Western New York and Mahopac National Bank in the Hudson Valley. Through its community banking subsidiaries, the Company provides traditional banking services, and offers a full range of money management services through Tompkins Investment Services (a division of Tompkins Trust Company). The company offers insurance services through its Tompkins Insurance Agencies, Inc. subsidiary, an independent agency serving individuals and business clients throughout New York State. The company offers fee-based financial planning and wealth management services through its AM&M Financial Services, Inc. subsidiary. AM&M Financial Services, Inc. is also the parent Company to Ensemble Financial Services, Inc., an independent broker dealer and leading outsourcing company for financial planners and investment advisors. Each Tompkins subsidiary operates with a community focus, meeting the unique needs of the communities served.