ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) has authorized the repurchase of up to 400,000 shares of the company’s common stock outstanding.
Purchases may be made on the open market or in privately negotiated transactions over the next 24 months, the banking and financial services company said in a news release.
Tompkins Financial reported net income of $13.1 million in the second quarter, an increase of almost 19 percent from the $11 million it reported in the year-ago period. Diluted earnings per share totaled 87 cents in this year’s second quarter, up 16 percent from 75 cents in the second quarter of 2013. This represents the best second quarter in company history, Tompkins Financial said in a separate news release.
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Tompkins Financial serves the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania. Headquartered in Ithaca, it is parent of Tompkins Trust Company, the Bank of Castile, Mahopac Bank, VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth-management services through Tompkins Financial Advisors.
