Tompkins Financial Expands Insurance Presence In Ithaca With Acquisition

Tompkins Financial Corporation (TMP–NYSE Amex) - Tompkins Financial Corporation has announced the acquisition of Olver & Associates Insurance, Inc. of Ithaca by Tompkins Insurance Agencies, Inc., effective June 1, 2011.

Of the acquisition, Tompkins Financial President and CEO Stephen S. Romaine said, “We are very pleased to have Olver & Associates join our team. This move brings more valued customers into the expanded Tompkins Financial family in central New York, so that we can continue to improve their experience and meet their needs through our comprehensive array of financial services.”

According to Tompkins Insurance President and CEO David S. Boyce, as part of the acquisition, owner Neil Olver will now serve as senior vice president and on the leadership team of Tompkins Insurance. He will continue to focus on new business, as well as managing current customer accounts. His wife, Lisa Olver, will continue in her role as commercial lines account manager. Olver’s additional three employees will be retained in the merger. They will continue to operate out of their current location, 414 East Upland Road, until a move to Tompkins’ 1051 Craft Road office, which is tentatively scheduled for August 1.

“Neil Olver brings a wealth of experience and a strong history in the Ithaca marketplace, with his more than 25 years in the industry,” said Boyce. “This is a fantastic addition to our team. I’m excited that this acquisition will not only further solidify our presence in Central NY, but it will also enhance our ability to grow our business in Ithaca with the addition of another proven talent to the organization.”

Olver has decades of experience, including working with insurance carriers as well as in agency capacities, before opening his own agency in 1998. He and his staff will complement the team of professional advisors at Tompkins, Boyce said.

“I am extremely pleased about the advantages this move will have for our customers,” said Neil Olver. “Primarily, they will benefit from Tompkins’ additional insurance companies, dedicated claims team, as well as 24/7 service. In addition, they’ll have access to the value-added products and services of the Tompkins Insurance family—including banking and wealth management. In this way, we can now offer one-stop shopping with a trusted affiliate, to serve all of their financial needs.”

Tompkins Insurance Agencies, Inc. has six offices in central New York and 15 offices in western New York. A part of Tompkins Financial Corporation, (trading as TMP on the AMEX), the agency is affiliated with Tompkins Trust Company, Tompkins Financial Advisors and the Bank of Castile. It is an independent insurance agency offering coverage from more than 25 different companies for businesses and consumers. Further information is available by visiting the agency website at www.tompkinsins.com.

Copyright Business Wire 2010

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