Tompkins Financial reports Q3 EPS $1.30, consensus $1.21

Reports Q3 tangible book value per share $43.50. Reports Q3 CET1 capital ratio 9.19%. Tompkins President and CEO, Stephen Romaine, commented, “Our third quarter net income was up over 18% as compared to the second quarter, driven by a strengthening net interest margin and growth across our business. For the third quarter our net interest margin expanded 6 basis points, loan balances grew over 8% annualized and our fee-based services continue to provide diversified growing revenue as total noninterest income represented 31% of total revenue. Year-to-date, our operating results were further supported by lower expenses, as noninterest expenses were down 1.5% as compared to prior year. As we are seeing improving profitability we believe that we remain well positioned to continue to drive growth through quality customer relationships supported by our strong capital and liquidity.”