Profile: Tompkins Financial Corp (TMP)
29 Jul 2016
Tompkins Financial Corporation (Tompkins), incorporated on March 6, 1995, is a financial holding company. The Company is a community-based financial services company that offers an array of products and services, including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance. The Company operates through three segments: banking (Banking), insurance (Tompkins Insurance Agencies, Inc.) and wealth management (Tompkins Financial Advisors). Its Banking services consist of attracting deposits from the areas served by the Company's four banking subsidiaries' approximately 60 banking offices (over 40 offices in New York and approximately 20 offices in Pennsylvania), and using those deposits to originate a range of commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. Its Insurance segment consists of property and casualty insurance services and employee benefit consulting operated under the Tompkins Insurance Agencies, Inc. subsidiary.
The Company's Wealth management activities include the Company's trust, financial planning, and wealth management services conducted under the trust department of the Trust Company. Its Wealth management services consists of investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. Tompkins provides a range of financial services to individuals and small business customers. The Company's subsidiaries include four banking subsidiaries, which include Tompkins Trust Company (the Trust Company), The Bank of Castile (DBA Tompkins Bank of Castile), Mahopac Bank, VIST Bank (DBA Tompkins VIST Bank) and an insurance agency subsidiary, Tompkins Insurance Agencies, Inc. (Tompkins Insurance). The Trust Company provides an array of trust and investment services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning, as well as life, disability and long-term care insurance services. The Company maintains a portfolio of securities, such as obligations of the United States Government agencies and the United States Government sponsored entities, obligations of states and political subdivisions thereof, and equity securities.
The Company's Bank segment consist of its four banking subsidiaries, which include Tompkins Trust Company; a commercial bank with approximately 10 banking offices operated in Ithaca, New York and surrounding communities, the Bank of Castile; a commercial bank with over 20 banking offices located in the Genesee Valley region of New York State, as well as Monroe County; Mahopac Bank; a commercial bank with approximately 10 full-service banking offices located in the counties north of New York City; and VIST Bank, a banking organization with over 20 banking offices headquartered and operating in Southeastern Pennsylvania. Banking services consist of attracting deposits from the areas served by the Company's banking subsidiaries and using those deposits to originate a range of commercial loans, agricultural loans, consumer loans, real estate loans and leases in those same areas.
The Company's subsidiary banks provide financial services to corporations and other business clients. Lending activities include loans for a range of business purposes, including real estate financing loans, construction loans, equipment financing loans, accounts receivable financing loans and commercial leasing. Other commercial services include deposit and cash management services, letters of credit, sweep accounts, credit cards, purchasing cards, Internet-based account services and remote deposit services. The Company's subsidiary banks provide a range of retail banking services, including checking accounts, savings accounts, time deposits, individual retirement account (IRA) products, brokerage services, residential mortgage loans, personal loans, home equity loans, credit cards, debit cards and safe deposit services. Retail services are accessible through a range of delivery systems including branch facilities, automated teller machines (ATMs, voice response, mobile banking, Internet banking and remote deposit services.
The Company provides property and casualty insurance services and employee benefits consulting through Tompkins Insurance Agencies, Inc, which is a subsidiary of the Company in Batavia, New York. Tompkins Insurance is an independent insurance agency, which provides employee benefit consulting to employers in Western and Central New York and Southeastern Pennsylvania, assisting them with their medical, group life insurance and group disability insurance. Tompkins Insurance, through VIST Financial, offers an array of insurance products in southeastern Pennsylvania. Tompkins Insurance offers services to customers of the Company's banking subsidiaries by sharing offices with The Bank of Castile, Tompkins Trust Company and VIST Bank. In addition to these shared offices, Tompkins Insurance has approximately five offices in Western New York, an office in Tompkins County, New York and an office in Montgomery County, Pennsylvania.
The Company's Wealth Management segment is organized under the Tompkins Financial Advisors brand. Tompkins Financial Advisors offers a range of financial services to customers, including trust and estate services, investment management and financial and insurance planning for individuals, corporate executives, small business owners and high net worth individuals. Tompkins Advisors has offices in each of the Company's four subsidiary banks. VIST Capital Management, LLC, through Tompkins Financial Advisors brand, offers an assortment of service investment advisory and brokerage services for individual financial planning, investments and corporate and small business pension and retirement planning solutions.
Tompkins Financial Corp
PO Box 460
ITHACA NY 14851