- Net income for the third quarter was $3.5 million, or $0.25 diluted earnings per share, compared to $7.9 million, or $0.71 diluted earnings per share for the same period in 2011. Net income for the third quarter 2012 was reduced by after-tax merger related expenses of $8.4 million.
- Operating income, which excludes merger related expenses, was $11.9 million for the quarter, or $0.87 diluted operating earnings per share. This represents an increase of 22.5% over the $0.71 diluted operating earnings per share reported for the third quarter of 2011.
- Return on average equity was 3.38% for the quarter, compared to 10.29% in the third quarter of 2011. Net income for the third quarter 2012 was reduced by after-tax merger related expenses of $8.4 million. Operating return on shareholders’ tangible equity was 15.2% for the quarter, compared to 12.3% for the same period in 2011.
- Total loans of $2.9 billion at September 30, 2012, were up $910.1 million from the second quarter of 2012, which included $869.2 million of loans acquired from VIST Bank. Organic loan growth was 4.5% annualized during the third quarter.
- Total deposits of $4.0 billion at September 30, 2012, were up $1.3 million from the second quarter of 2012, which included $1.2 million of deposits acquired from VIST Bank. Organic deposit growth was 11.7% annualized during the third quarter.
Tompkins Financial Corporation Reports Strong Third Quarter Operating Results
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