Tompkins Financial (NYSE:TMPP) reported a significant year-over-year increase in first-quarter profits as the company returned to a standardized operating cadence following the multi-million dollar sale of its insurance subsidiary in late 2025.
The Ithaca, New York-based financial services holding company posted net income of $26.1 million for the quarter ended March 31, 2026.
This represents a 32.5% increase compared to the $19.7 million reported in the first quarter of 2025.
Diluted earnings per share for the period reached $1.82, an increase of $0.45, or 32.8%, over the prior year.
The results show a sharp sequential decline from the fourth quarter of 2025, during which net income hit $96.3 million.
That outlier performance was driven primarily by the strategic sale of Tompkins Insurance Agencies (TIA), a transaction that provided a substantial one-time capital boost, though it was partially offset by a realized loss on the sale of available-for-sale debt securities as the bank repositioned its balance sheet.
On a normalized basis, excluding those non-recurring items, the company’s operating net income for the final quarter of 2025 was a more comparable $25.6 million, or $1.78 per diluted share.