Tompkins Financial Slips To Loss In Q3

October 27, 2023 — 09:37 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Banking and financial services company Tompkins Financial Corp. (TMP) reported Friday a net loss attributable to Tompkins of $33.35 million or $2.35 per share, compared to net income of $21.34 million or $1.48 per share in the prior-year quarter.

The quarterly results were negatively impacted by the sale of $429.6 million of available-for-sale debt securities, which resulted in an after-tax loss on the sale of securities of $47.5 million or $3.34 per share.

Net interest income was $51.01 million, down from $58.11 million, and noninterest income was a loss of $41.62 million, compared to noninterest income of $20.69 million last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $2.22 per share on revenues of $72.93 million for the quarter. Analysts' estimates typically exclude special items.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Tompkins Financial Slips To Loss In Q3

Tags

Latest Articles