TMPHIGH SIGNALOPERATIONAL10-K

Tompkins Financial completed the divestiture of its insurance subsidiary TIA to Gallagher on October 31, 2025, transforming from a three-segment company to a focused banking and wealth management operation.

This represents a strategic pivot that eliminates an entire business line and concentrates the company's operations on its core banking franchise and wealth management services. The sale of TIA, which had been part of Tompkins since 2001, signals management's commitment to streamlining operations and focusing capital allocation on fewer business verticals.

Comparing 2026-02-26 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

The financial results reflect both the business simplification and potential operational challenges, with provision for credit losses declining meaningfully as credit quality improved. However, operating cash flow was substantially lower year-over-year, which may reflect the timing effects of the divestiture or underlying operational pressures in the remaining business segments. The overall financial picture suggests a company in transition following its strategic refocusing.

FINANCIAL STATEMENT CHANGES
Provision for Credit Losses
P&L
-65.3%
$3.9M→$1.4M

Provisions reduced 65.3% — improving credit quality or reserve release boosting reported earnings.

Operating Cash Flow
Cash Flow
-59.1%
$95.0M→$38.9M

Operating cash flow fell 59.1% — earnings quality concerns; investigate working capital changes and non-cash items.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-28
ADDED
Tompkins Community Bank provides a full array of trust and wealth management services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning.
The Company previously provided insurance services through its wholly-owned insurance subsidiary, Tompkins Insurance Agencies, Inc.
("TIA"), but on October 31, 2025, the Company sold all of the issued and outstanding shares of the capital stock of TIA, to Arthur J.
Narrative Description of Business The Company has identified two business segments, consisting of banking and wealth management.
Prior to its sale of TIA on October 31, 2025, the Company also had an insurance segment.
The Company operated its wholly-owned insurance subsidiary, TIA, from 2001 until its sale to Gallagher on October 31, 2025.
TIA was a full-service insurance agency that offered services such as property and casualty insurance, employee benefit consulting, and life, long-term care and disability insurance.
TIA's revenue and expenses are consolidated into the Company's financials through October 31, 2025.
Subsidiary Operations Tompkins Community Bank Tompkins Community Bank operates 54 branches, with 38 branches located in New York, and 16 located in Pennsylvania.
Tompkins Community Bank provides a full array of products and services, including commercial and consumer banking.
REMOVED
Tompkins Community Bank provides a full array of trust and wealth management 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 also has a wholly-owned insurance agency subsidiary, Tompkins Insurance Agencies, Inc.
Narrative Description of Business The Company has identified three business segments, consisting of banking, insurance and wealth management.
The Company has operated its insurance agency subsidiary, Tompkins Insurance, since 2001.
Insurance services include property and casualty insurance, employee benefit consulting, life, long-term care and disability insurance.
Over the years, Tompkins Insurance has acquired smaller insurance agencies in the market areas served by Tompkins Community Bank and successfully consolidated them into Tompkins Insurance.
Tompkins Insurance offers services to customers of Tompkins Community Bank by sharing offices with Tompkins Community Bank.
In addition to these shared offices, Tompkins Insurance has four stand-alone offices in Western New York.
Tompkins Financial Advisors has office locations, and services are available, at certain of Tompkins Community Bank's branch locations.
Subsidiaries Tompkins Community Bank Tompkins Community Bank operates 54 branches, 38 branches in New York, and 16 located in Pennsylvania.
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