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Tompkins Financial to pay dividend of 54 cents on Aug. 13
Banking company’s profit increased 6.5 percent in latest quarter ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors has approved payment of a regular quarterly cash dividend of 54 cents per share. The Ithaca–based banking company will make the dividend payment on Aug. 13, to common shareholders of record as […]
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Banking company’s profit increased 6.5 percent in latest quarter
ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors has approved payment of a regular quarterly cash dividend of 54 cents per share.
The Ithaca–based banking company will make the dividend payment on Aug. 13, to common shareholders of record as of Aug. 3. It’s the same amount that Tompkins paid in each of the last three quarters.
Earnings
Tompkins Financial also recently reported that its net income rose 6.5 percent to $22.8 million in the second quarter from $21.4 million in the year-ago quarter, aided by strong fee income and credit quality. The banking company reported earnings per share of $1.54 in the second quarter, up 6.9 percent from $1.44 in the same period in 2020.
Tompkins Financial’s noninterest income jumped almost 10 percent to $18.9 million in the latest quarter, compared to a year earlier.
The company’s provision for credit losses for the second quarter was a credit of $3.1 million compared to an expense of $877,000 for the same period in 2020.
Boosted by a big first quarter, Tompkins Financial’s net income for the six-month period ended June 30 was $48.5 million, up almost 65 percent from $29.4 million for the same period in 2020. Its six-month earnings per share was $3.26, up more than 65 percent from $1.97 for the same year-to-date period last year.
Tompkins Financial is a financial-services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial is parent of four banks — Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, and Tompkins VIST Bank — as well as Tompkins Insurance Agencies, Inc. and the Tompkins Financial Advisors wealth-management firm. The company’s four banks have announced plans for a rebranding effort, where they will be combined into one bank, Tompkins Trust Company, subject to regulatory approval. The combined bank will conduct business under the “Tompkins” brand name, with a legal name of “Tompkins Community Bank.”

Lockheed Owego wins nearly $118M contract modification from Navy
OWEGO , N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego unit was recently awarded a nearly $118 million modification to a previous contract from the United States Navy. This order provides non-recurring engineering and field-services representative efforts to bring 12 MH-60R aircraft from standard foreign military sales (FMS) configuration to a Republic of Korea Navy
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OWEGO , N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego unit was recently awarded a nearly $118 million modification to a previous contract from the United States Navy.
This order provides non-recurring engineering and field-services representative efforts to bring 12 MH-60R aircraft from standard foreign military sales (FMS) configuration to a Republic of Korea Navy configuration, according to an Aug. 2 U.S. Department of Defense contract announcement.
Work will be performed in Stratford, Connecticut (38 percent); Brest, France (37 percent); the company’s Owego plant (18 percent); and Portsmouth, Rhode Island (7 percent), and is expected to be completed in November 2026. FMS funds totaling $117,686,514 will be obligated at time of award, none of which will expire at the end of the current fiscal year, per the contract announcement. The Naval Air Systems Command in Patuxent River, Maryland is the contracting authority.

SMALL BUSINESS SPOTLIGHT: Small business in Small Town USA: Stepping up in a big way
CAZENOVIA — Travis Barr and Alex Altomonte stepped into my small Cazenovia office with a wish, a dream, and a legacy. Little did they know that their journey would not only change their lives, but also the many lives of the residents and visitors of this quaint, little community. The idea of owning a business
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CAZENOVIA — Travis Barr and Alex Altomonte stepped into my small Cazenovia office with a wish, a dream, and a legacy. Little did they know that their journey would not only change their lives, but also the many lives of the residents and visitors of this quaint, little community.
The idea of owning a business is not a new one for Barr and Altomonte. In 1946, Barr’s grandfather, Henry Grey Barr, opened the Brae Loche Inn, which is still owned and operated by his uncle and his uncle’s wife.
Travis Barr’s cousin, McKenzie Houseman is the owner and operator of 20|EAST, a farm store in Cazenovia, as well as Cazenovia Cutblock. Houseman has been Barr’s and Altomonte’s biggest influence since starting this venture over a year ago. Having been a long-time client of the Onondaga Small Business Development Center (SBDC), she knows the value of having small-business support. So, Houseman referred them to me. Working out of the SBDC satellite office in Cazenovia, I met Barr and Altomonte to discuss their business venture. I helped them with business planning, financial projections, and startup mechanics for the business.
Travis and Alex had a vision for a general store that would supply unique but functional products. Anything from cocktails, and books to jewelry, make-up, clothing, and accessories could be sold there. They wanted to focus on bringing small batch and independent brands to the village from makers all over the United States. Barr and Altomonte wanted to create a place where community members and visiting travelers could discover a plethora of goods.
But most of all, they created H. Grey Supply Co. LLC, located at 53 Albany St. in Cazenovia, with the intention that it would be a safe space. They wanted a place where everyone would be treated kindly and fairly — regardless of ethnicity, beliefs, sexual orientation, race, or gender. The products that they supply would bring out all perspectives and they could offer products that celebrate diversity and inclusiveness with a “treat yourself mentality,” as Travis put it.
Starting a business is a process that takes time, patience, persistence, good timing, research, and maybe a little luck.
“Melissa couldn’t have made us feel more comfortable about starting our own business. From the very beginning through today, she is a resource we are grateful to have. She helped us navigate turning our dream into a reality when we, at times, had no idea how it would happen,” Barr said about his SBDC advisor.

The business owners worked hard to make sure all aspects of a good foundation were present. They created a solid business plan, a startup budget, and projections to estimate how a loan would be repaid.
When a lender stepped up to help them fund the project and the space was identified, the pandemic was on the horizon. March 2020 was the anticipated time frame for entering their storefront and making the leasehold improvements. Clearly, that was not going to happen. Thankfully, that did not stop Barr and Altomonte. They spent time during the pandemic pivoting their plans. Not to be derailed, they became refocused. They found a new place to rent, and they added essential products so that if the area shut down again, they would be able to stay open. They also began to work more closely with Houseman at 20|EAST to learn more about the retail business.
After Christmas 2020, Barr and Altomonte circled back to the lender for the loan, securing their space in town and finalizing their startup costs. Not quite a year into the pandemic and they had stronger credit, a stronger foundation, more knowledge, and a better sense of what the ultimate purpose for the business was going to be. Perseverance was the name of the game because they knew that their ultimate goal was to bring a store to rural small-town USA, and that has meant more to the community than they could have imagined.
Travis Barr’s grandfather and his entrepreneurial spirit led him to want to continue the family legacy and bring new energy to the community that raised him. H. Grey Supply Company is named after Henry Grey Barr, who was a trendsetter who knew what his community needed: good cheer, good eats, and good people.
Barr and Altomonte also knew that their community needed a place everyone can feel appreciated, which is not always easy. That is why the H. Grey Supply Co. founders worked hard to bring the first Pride event to Cazenovia this June. It was held over Father’s Day weekend, since that holiday weekend can be tough for many due to a lack of parental involvement, the passing of a loved one, or being separated by distance. Barr and Altomonte coordinated with other members of the community to create an event where everyone had a place to go. It was a celebration of acceptance and the knowledge that no one is alone.
On H. Grey Supply Co.’s social media on May 9, 2021, Travis wrote, “Had the most amazing experience in the store today. Everyone is welcome in this space and love, kindness, inclusion is celebrated here.” A mother had messaged Barr and Altomonte about an occurrence that had happened earlier that day. In her message she said, “Thank you for making my child feel comfortable, he cried in the car that people did not say he was strange because he likes lipstick. He wants to come back and see you guys and learn how to do makeup from you… so proud of you and thank you for being such a wonderful role model for my son.”
Barr and Altomonte are two dynamic individuals that have done a lot for their small town in such a short period of time. It will be exciting to see what else they have in store for Cazenovia and its community members. The SBDC is proud to have been a part of their journey, helping them find a way to work through the challenges of the pandemic while celebrating diversity in small-town USA. All it takes is one person to stand-up and shout, “We are all human, we are all different yet all the same.”
Learn more about H. Grey Supply Co. LLC on its website: www.hgreysupplyco.com.
Advisor’s Business Tip: Don’t give up on your vision because you never know whose life you will affect with your business and what it could mean for your community unless you persevere.
Melissa Zomro Davis is a New York State advanced certified business advisor at the Onondaga SBDC. Contact her at m.l.zomro@sunyocc.edu

MARY BROWN has recently joined Firley, Moran, Freer & Essa, CPA. P.C. as a tax manager. She earned her bachelor’s degree in accounting from St. John Fisher College and has spent the last 20 years in public accounting, providing tax-accounting services such as tax planning and compliance work. Brown’s clients include closely-held businesses, individuals, trusts,
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MARY BROWN has recently joined Firley, Moran, Freer & Essa, CPA. P.C. as a tax manager. She earned her bachelor’s degree in accounting from St. John Fisher College and has spent the last 20 years in public accounting, providing tax-accounting services such as tax planning and compliance work. Brown’s clients include closely-held businesses, individuals, trusts, and foundations.

LILY YAN HUGHES has joined the Syracuse University College of Law as assistant dean for career development. In this role, Hughes will lead the implementation of the college’s job placement and career-development strategy for law students, including expanding its national network of prospective placements and overseeing its externship program. An experienced corporate executive, Hughes most
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LILY YAN HUGHES has joined the Syracuse University College of Law as assistant dean for career development. In this role, Hughes will lead the implementation of the college’s job placement and career-development strategy for law students, including expanding its national network of prospective placements and overseeing its externship program. An experienced corporate executive, Hughes most recently was senior VP, chief legal officer, and corporate secretary for Arrow Electronics, Inc. (NYSE: ARW), a Fortune 500 company with nearly $30 billion in annual revenue. At Arrow, she was a member of the executive committee and led the company’s global legal, trade risk, and compliance teams. From 2015-2019, Hughes was senior VP, chief legal officer, and corporate secretary of Public Storage (NYSE: PSA), a global self-storage company and member of the S&P 500 index. From 1997-2015, she served in roles of increasing responsibility, including her last role as VP and associate general counsel, corporate, M&A, and finance of Ingram Micro Inc., the world’s largest wholesale information technology and mobile-devices distributor. Hughes received her law degree from the University of California (UC) Berkeley School of Law and holds a bachelor’s degree in political science from UC Berkeley.

Delta Engineers, Architects, Land Surveyors, & Landscape Architects, DPC
SHANNON O’BRIEN has joined the Endwell office of Delta Engineers, Architects, Land Surveyors, & Landscape Architects, DPC as an assistant engineer in the Delta Mechanical Group. She recently received her bachelor’s degree in mechanical engineering with a minor in Sustainability from Binghamton University. O’Brien previously worked as an intern with Delta. GABE OSTERHOUT has joined
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SHANNON O’BRIEN has joined the Endwell office of Delta Engineers, Architects, Land Surveyors, & Landscape Architects, DPC as an assistant engineer in the Delta Mechanical Group. She recently received her bachelor’s degree in mechanical engineering with a minor in Sustainability from Binghamton University. O’Brien previously worked as an intern with Delta.
GABE OSTERHOUT has joined Delta’s Endwell office as a business development coordinator in the Delta Business Development Group. He received his bachelor’s degree in journalism/mass communications from St. Bonaventure University. Osterhout brings a great deal of experience from his background as a reporter and public-relations specialist. The company says his strong communication skills will help enhance the firm’s video capabilities.

ANDREW S. CARTWRIGHT has been promoted by Valicenti Advisory Services, Inc. to security analyst and trader. His responsibilities include security analysis, placing and allocating all trades for the firm, assisting the portfolio managers with portfolio-management tasks and special projects. Valicenti Advisory Services, with offices in Elmira and Corning, is a registered investment advisory firm as
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ANDREW S. CARTWRIGHT has been promoted by Valicenti Advisory Services, Inc. to security analyst and trader. His responsibilities include security analysis, placing and allocating all trades for the firm, assisting the portfolio managers with portfolio-management tasks and special projects. Valicenti Advisory Services, with offices in Elmira and Corning, is a registered investment advisory firm as well as a provider of tax and business services. Cartwright is also part of the firm’s investment committee that meets to review and to analyze market conditions, economic factors, and sector trends. He joined Valicenti seasonally in December 2009 and started full time in the operations department in April 2012, as systems and reports manager. Cartwright is a graduate of SUNY Brockport with a bachelor’s degree in physical education and health science. Prior to joining Valicenti, he taught in the Elmira City School District. He has coached cross country and track in the Corning–Painted Post Area School District since 2009. Cartwright is a Financial Paraplanner Qualified Professional designee.

THOMAS CASELLA has joined the Buffalo–based law firm of Hurwitz & Fine, P.C. as a member attorney in its insurance coverage group in Central New York. He works from the Mohawk Valley area and brings 15 years of legal experience to the team — 10 of those years in the insurance industry — holding a
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THOMAS CASELLA has joined the Buffalo–based law firm of Hurwitz & Fine, P.C. as a member attorney in its insurance coverage group in Central New York. He works from the Mohawk Valley area and brings 15 years of legal experience to the team — 10 of those years in the insurance industry — holding a number of roles including staff attorney, complex claims supervisor, and senior risk manager. Casella joined Hurwitz & Fine from Utica National Insurance Group, where he worked for nearly the last 10 years, according to his LinkedIn profile. His titles at the firm included senior E&O risk-management representative, complex-claims specialist supervisor, and staff attorney. Casella is also experienced with alternative-dispute resolution, having mediated many complex, high-value claims nationwide with excellent results, his new firm says. Prior to his time in the insurance industry, he was a general practitioner focusing on matrimonial law, Chapter 7 bankruptcy, real-estate transactions, and contract disputes. Casella is a former U.S. Marine, where he served with distinction as legal-services specialist. He earned his MBA from the Rochester Institute of Technology in 2015, juris doctor degree from Western New England University School of Law in 2006, and bachelor’s degree in anthropology and history from Metropolitan State University of Denver, per Casella’s LinkedIn profile.

JANET KLEIMAN has been promoted to chief operations officer at Sedgwick Business Interiors, from her prior role as director of operations. She has been with the company for 17 years and has contributed greatly in her role in operations by developing and implementing new strategies and processes for the company. At Sedgwick, Kleiman has also
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JANET KLEIMAN has been promoted to chief operations officer at Sedgwick Business Interiors, from her prior role as director of operations. She has been with the company for 17 years and has contributed greatly in her role in operations by developing and implementing new strategies and processes for the company. At Sedgwick, Kleiman has also held positions in order entry, sales support, project coordination, customer service, before her most-recent position. In her new role, as chief operations officer, she will oversee the operations, design, finance, and sales departments.

MICHAEL PAULUS has joined Syracuse University Athletics as senior associate athletics director/executive director of athletic development. The Syracuse–area native brings 10 years of college-sports fundraising experience to his new role with the university’s Orange Club. Paulus comes to Syracuse after serving in the same role at the U.S. Naval Academy since 2018. As a member
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MICHAEL PAULUS has joined Syracuse University Athletics as senior associate athletics director/executive director of athletic development. The Syracuse–area native brings 10 years of college-sports fundraising experience to his new role with the university’s Orange Club. Paulus comes to Syracuse after serving in the same role at the U.S. Naval Academy since 2018. As a member of the athletic director’s executive staff, he partnered with the Naval Academy Foundation and Athletic & Scholarship Programs division to lead fundraising efforts supporting Navy athletics. In three years at Navy, the development team achieved record levels of annual and major gift support, most notably increasing unrestricted giving by 35 percent and also surpassing $110 million raised for athletics as part of the Academy’s “Called to Serve, Daring to Lead” campaign, according to a Syracuse University news release. The $110 million exceeded the original campaign goal of $70 million set for athletics and resulted in numerous capital renovations and improvements to facilities benefiting Navy Athletics. Paulus was also a sport supervisor for four varsity programs at Navy. Before his time at Navy, Paulus was the assistant athletics director for development at the Ole Miss Athletics Foundation from 2015 to 2018. In that capacity, he was a lead fundraiser for Ole Miss Athletics and the “Forward Together” campaign, a $200 million capital initiative that resulted in a new basketball arena, expansion to the football stadium, and renovations and improvements benefiting all Olympic sports facilities. Paulus began his career in athletics development at Mount St. Mary’s University (2013-15) and Virginia Commonwealth University (2012-13). A graduate of the College of William & Mary, Paulus played quarterback for the Tribe in 2010 and 2011 after playing the same position at the University of North Carolina for three years. Before college, Paulus starred as a quarterback at Christian Brothers Academy. He went on to earn his master’s degree in education in sport leadership from Virginia Commonwealth University, an MBA from Mount St. Mary’s, and a Ph.D. in higher-education administration at Ole Miss.
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