Tompkins Financial has reported third-quarter net income grew 4.9% to $7.86m, compared to $7.49m last year. Earnings per share rose 2.9% to $0.71 from $0.69 in the previous year.
Total revenue was $40.2m for the third quarter of 2011 and $120.2m for the first nine months of 2011, up 2.9% and 2.1%, respectively, over the same periods in 2010.
For the nine months ended 30 September 2011, net income was $26.0m, compared to $24.9m for the same period last year. Diluted earnings per share totaled $2.36 for the first nine months of 2011, an increase of 2.6% over the $2.30 reported for the first nine months of 2010.
Tompkins Financial president and CEO Stephen Romaine said growth has been challenging in the current economic climate, which makes our results through the first nine months of the year especially rewarding.
"Net income, revenue, loans, and deposits all showed increases when compared to the prior year, and our year to date earnings reflected the best performance through the first nine months of the year in the Company’s history," Romaine said.