Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Tompkins Financial Corporation ( (TMP) ) has issued an update.
Tompkins Financial Corporation announced a robust financial performance for Q3 2024, with net income soaring by 18.9% to $18.6 million compared to the previous quarter, driven by higher net interest margins and growth in loan balances. The company’s earnings per share surged 155.3% from the same quarter last year, largely due to the sale of securities in 2023. Despite an increase in the cost of funds, Tompkins achieved a net interest margin of 2.79%, benefiting from improved yields on assets. The firm remains well-positioned for future growth, supported by a solid capital base and diversified revenue streams.
For detailed information about TMP stock, go to TipRanks’ Stock Analysis page.