Tompkins Financial Corporation (NYSE Amex: TMP)
, a $3.3 billion financial services holding company based in Ithaca, has once again been named to the American Bankers Association’s list of top performing banks.
In an article published in the April 2011 edition of
ABA Banking Journal
, Tompkins Financial Corporation was ranked #9 among U.S. public banks, thrifts and holding companies with assets over $3 billion as of December 31, 2010. Tompkins Financial’s ranking is up from 10
position last year.
The ABA study rated the banks by return on average total equity (“ROAE”), with return on average total assets used as a secondary ranking criterion. Tompkins Financial reported ROAE of 12.72 percent in 2010, a figure that measures a company’s profitability over a fiscal year in relation to average shareholders’ equity.
The article stated that the top-performing institutions were able to generate above-average earnings, remaining more efficient than their peers.
Tompkins Financial President and CEO Stephen S. Romaine commented, “It is rewarding to be recognized for strong performance, particularly in what continues to be a challenging economy. Our focus remains on opportunities that create value over the long term for our clients, communities and shareholders,” he said.
About Tompkins Financial Corporation
Tompkins Financial is a financial services holding company headquartered in Ithaca, NY with $3.3 billion in assets. It trades on NYSE-Amex under the “TMP” symbol. Tompkins Financial provides banking services through its three community banks – Tompkins Trust Company, The Bank of Castile, and Mahopac National Bank, insurance through Tompkins Insurance Agencies, and wealth management through Tompkins Financial Advisors.