Tompkins Financial Corporation Common Stock
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Tompkins Financial Corporation Common Stock (TMP) is a financial holding company headquartered in Ithaca, New York. Founded in 1836, it is one of the older banking organizations in its region and is best known for community banking paired with wealth management and insurance services. The company provides commercial and consumer banking, leasing, trust and investment management, financial planning, and insurance.
Tompkins operates through two segments: Banking and Wealth Management. On the banking side, it accepts a range of deposit products, including checking and savings accounts, time deposits, and IRA products. It lends for many purposes, including real estate financing, construction, equipment financing, accounts receivable financing, and commercial leasing, along with residential mortgages, personal loans, home equity loans, commercial and industrial loans, commercial real estate loans, agriculture loans, and consumer installment and automobile loans. The company also issues letters of credit and provides sweep accounts, credit and debit cards, and overdraft lines of credit.
The company rounds out its offering with cash management, internet and mobile banking, remote deposit, safe deposit, ATM, and voice response services. Through its wealth management work, it provides trust and estate services, financial and tax planning, and investment management. Its insurance services span property and casualty, life, disability, and long-term care coverage, along with employee benefit consulting and insurance planning. Tompkins primarily serves individuals, corporate executives, small business owners, and high net worth clients. By combining lending, deposits, fee-based wealth services, and insurance, TMP earns revenue from both interest income and service fees across a long-established customer base.