NYSE$TMP
Tompkins Financial Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a net loss due to the sale of available-for-sale debt securities, which is expected to improve securities revenue in the future.
Tompkins Financial Corporation reported a net loss of $33.4 million for Q3 2023, primarily due to an after-tax loss of $47.5 million from the sale of available-for-sale debt securities. However, the company anticipates improved securities revenue in future periods from reinvesting the proceeds at higher yields. Loan growth and deposit balances increased during the quarter.
- Net loss of $33.4 million for the third quarter of 2023, impacted by after-tax losses from the sale of available-for-sale debt securities.
- Annualized loan growth of 6.0% from the second to third quarter of 2023.
- Total deposits increased by $168.8 million, or 2.5%, from June 30, 2023.
- Securities revenue is expected to improve by approximately $15.4 million over the next twelve months due to balance sheet repositioning.
Headline financials
Revenue & EPS history
Tompkins · Revenue · Quarterly
$9.39M
Revenue by segment
Tompkins · $60M total across 3 segments · Q1 2021
- Insurance commissions$20M—33.3%
- Wealth management$20M—33.3%
- Card services$20M—33.3%
Forward guidance
Tompkins Financial Corporation anticipates improved securities revenue due to balance sheet repositioning, with an estimated increase of approximately $15.4 million over the next twelve months.
Tailwinds
- Improved securities revenue expected over the next twelve months.
- Healthy capital and liquidity levels.
- Favorable loan growth trends.
- Increased deposit balances.
- Stable loan to deposit ratio.
Headwinds
- Challenging economic environment for the banking industry.
- Net loss reported for the third quarter of 2023.
- Negative impact from the sale of available-for-sale debt securities.
- Decrease in net interest income and net interest margin.
- Decline in noninterest income.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.2%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+1.3%
Avg return
30 days after
47%
31 / 66 earnings
Positive
+7.9%
Q3 2024
Best reaction
-6.4%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.6% | -1.3% | +0.8% | |
| Q4 2025 | +4.4% | +8.7% | -0.0% | |
| Q3 2025 | +1.4% | -1.1% | +5.5% | |
| Q2 2025 | -1.1% | -1.3% | +2.8% | |
| Q1 2025 | -0.7% | -0.1% | +1.6% | |
| Q4 2024 | +3.0% | +7.1% | +2.2% | |
| Q3 2024 | +7.9% | +5.7% | +23.1% | |
| Q2 2024 | -0.2% | -1.0% | -2.8% | |
| Q1 2024 | -2.3% | -0.3% | +1.8% | |
| Q4 2023 | +0.5% | -9.1% | -10.2% | |
| Q3 2023 | +0.2% | -0.6% | +7.9% | |
| Q2 2023 | +0.7% | +2.8% | -9.3% | |
| Q1 2023 | -1.3% | -9.7% | -8.1% | |
| Q4 2022 | -0.5% | +0.5% | +0.8% | |
| Q3 2022 | +2.9% | +2.2% | +4.4% | |
| Q2 2022 | -0.5% | +2.8% | +4.4% | |
| Q1 2022 | -1.5% | +0.5% | +0.4% | |
| Q4 2021 | -0.5% | +0.3% | -0.7% | |
| Q3 2021 | +2.7% | -1.3% | +1.6% | |
| Q2 2021 | -0.6% | -0.1% | +4.6% | |
| Q1 2021 | +2.4% | +2.2% | +3.5% | |
| Q4 2020 | -2.7% | +0.2% | +10.0% | |
| Q3 2020 | -0.8% | -5.5% | +13.4% | |
| Q2 2020 | -0.8% | +1.9% | +2.4% | |
| Q1 2020 | -2.8% | -5.2% | -4.7% | |
| Q4 2019 | +0.5% | +2.4% | -9.4% | |
| Q3 2019 | +1.5% | +4.8% | +6.7% | |
| Q2 2019 | -1.9% | -0.9% | -2.6% | |
| Q1 2019 | +4.0% | +4.1% | +2.8% | |
| Q4 2018 | -6.0% | -6.4% | +2.2% | |
| Q3 2018 | -6.4% | -11.6% | +0.1% | |
| Q2 2018 | +3.0% | +0.6% | -0.7% | |
| Q1 2018 | -0.8% | -0.2% | +9.1% | |
| Q4 2017 | -1.9% | -2.0% | -3.9% | |
| Q3 2017 | -1.4% | -1.4% | -2.2% | |
| Q2 2017 | -1.3% | +2.0% | -6.6% | |
| Q1 2017 | -3.9% | -1.8% | -10.2% | |
| Q4 2016 | -3.5% | -4.5% | -3.0% | |
| Q3 2016 | +0.3% | -6.6% | +9.8% | |
| Q2 2016 | +4.1% | +4.4% | +4.0% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +4.7% | — | — | |
| Q3 2015 | -0.6% | — | — | |
| Q2 2015 | +0.6% | — | — | |
| Q1 2015 | +0.1% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | +0.3% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | -2.1% | — | — | |
| Q4 2013 | -1.4% | — | — | |
| Q3 2013 | +4.8% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | -2.5% | — | — | |
| Q4 2012 | +2.4% | — | — | |
| Q3 2012 | +2.3% | — | — | |
| Q2 2012 | -1.0% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2012 | +1.6% | — | — | |
| Q4 2011 | +2.3% | — | — | |
| Q4 2009 | +2.3% | — | — | |
| Q4 2010 | +2.3% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q3 2010 | -1.7% | — | — | |
| Q2 2010 | -0.3% | — | — | |
| Q2 2011 | -0.3% | — | — | |
| Q1 2010 | +5.2% | — | — |
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