- 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 (TMP–NYSE MKT LLC) Tompkins Financial Corporation today released operating results and selected other financial information for the three month and nine month periods ended September 30, 2012. President and CEO, Stephen S. Romaine said, “The current quarter is the first reporting period reflecting results inclusive of the VIST Financial acquisition. We are pleased that our diluted per share earnings for the quarter, excluding merger related expenses, reflect an increase of 22.5% over the same quarter last year. We are also pleased that the merger related expenses and credit marks associated with the transaction were in line with our original projections. The VIST acquisition represents our first expansion into the Pennsylvania market and we are very excited by the opportunity to leverage the full capabilities of the Tompkins business model in this attractive market.” THIRD QUARTER 2012 SELECTED HIGHLIGHTS: