ITHACA — Acquisition costs of $8.4 million pushed profit lower at Tompkins Financial Corp. (NYSE Amex: TMP) in the third quarter.
The Ithaca–based banking company earned $3.5 million, or 25 cents a share, in the period, down from $7.9 million, or 71 cents a share, in the third quarter of 2011. Tompkins completed its acquisition of VIST Financial Corp. (NASDAQ: VIST) of Wyomissing, Pa. on Aug. 1 in an all-stock deal worth $86 million.
“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,” Tompkins President and CEO Stephen Romaine said in a news release.
(Sponsored)
One Big Beautiful Bill Extends Many Business-Friendly Tax Provisions
The One Big Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are
Time to Prepare for OSHA’s new “Walkaround Rule”
In a development consistent with President Biden‘s growing reputation as leading the most pro-union administration in history, the Occupational Safety and Health Administration (OSHA) has published a rule allowing employees
Tompkins Financial has $4.9 billion in assets with branches in the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania. The company also owns insurance and financial advising subsidiaries.
Contact Tampone at ktampone@cnybj.com
