Tompkins Financial Corporation · AMEX:TMP
Tompkins Financial — Shareholder Meeting (May 2024)
13 slides from Tompkins Financial's shareholder meeting presentation, May 14, 2024
Slide 1: Annual Shareholder Meeting May 14, 2024
Annual Shareholder Meeting May 14, 2024
Slide 2: Forward-Looking Information − Safe Harbor
This presentation contains "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward - looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to certain risks a
Slide 3: Tompkins Financial Strength
Tompkins Financial Strength • Long - standing commitment to sustainable performance • Profitable every year since at least 1942, and remains profitable • Ratio of Tier 1 Capital to Risk - weighted assets above pre - pandemic levels • Despite 2023 declining deposits, total deposits at March 31, 2024
Slide 4: 2023 Recap: A year marked with unprecedented volatility
A year marked with unprecedented volatility • Fed paused hiking in July 2023, up 525 bps, persistent curve inversion • High profile bank failures due to liquidity stress • Liquidity concerns abate, some credit headlines appear • Industry earnings impacted from declining net interest margins 2023 Rec
Slide 5: Annual Earnings Trends
Annual Earnings Trends $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 2013Y 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y Diluted EPS Diluted EPS (GAAP) Core Diluted EPS (Source: S&P Global) TMP Core Diluted EPS: 10 Year Compound Annual Growth Rate of 3%
Slide 6: Tompkins Fundamentals Continue Improvement: First Quarter Highlights
Tompkins Fundamentals Continue Improvement • Loan Growth 7% YOY • Deposit costs moderating up 11 bps vs linked quarter • Noninterest Income up 8.5% vs prior year • Noninterest Expense down 0.6% vs. prior year • Liquidity remains strong; Loan to Deposit ratio 87.5% First Quarter Highlights
Slide 7: Quarterly Earnings Trends
1.45 1.48 1.36 1.35 0.59 - 2.35 1.05 1.18 -$2.50 -$2.00 -$1.50 -$1.00 -$0.50 $0.00 $0.50 $1.00 $1.50 $2.00 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Diluted EPS ▪ Q2 and Q3 reflect impacts of securities sales ▪ Q1 2024 Diluted EPS is up 12.5% vs prior quarter Quarterly Earnings
Slide 8: Consistently Well Capitalized
0% 2% 4% 6% 8% 10% 12% 14% 16% 2019Y 2020Y 2021Y 2022Y 2023Y Q1 2024 Consistently Well Capitalized 0% 2% 4% 6% 8% 10% 12% 14% 16% 2019Y 2020Y 2021Y 2022Y 2023Y Q1 2024 Total Capital Ratio Tier 1 Ratio • Repurchased 150,000 shares at an average price of $57.60 in 2023 • Total capital ratio reflects c
Slide 9: Profitability
0% 2% 4% 6% 8% 10% 12% 14% TMP Peer (2) Profitability 0.00% 1.00% 2.00% 3.00% 4.00% TMP Peer (2) Core ROAA (1) Core ROAE (1) 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% TMP Peer (2) NIM(1) * Quarterly results annualized (1) Source: S&P Global (2) Peer represents “Benchmarking Peer Group” as list
Slide 10: Annual Cash Dividend Trends
Annual Cash Dividend Trends $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 2013Y 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y Cash Dividend Per Share TMP Cash Dividend: 10 Year Compound Annual Growth Rate of 4.5% Q1 2024 raised dividend 1.7% payable in Q2 2024
Slide 11: Stock Performance and Stock Valuation
Stock Performance 10YR 5YR LTM Total Return 3.2% - 7.4% - 10.6% TMP 5.8% - 1.3% 20.3% Proxy Peer Median Dividend Yield *P/TBV *P/LTM Core EPS Stock Valuation 5.1% 1.19x 10.8x TMP 3.8% 1.16x 10.1x Proxy Peer Median As of May 6, 2024 Dividend Yield *P/TBV *P/LTM Core EPS Stock Valuation 4.4% 1.44x 10.
Slide 12: Commitment to Sustainable Performance
Commitment to Sustainable Performance • Profitable for at least 82 consecutive years • Cash dividends increased for 35 consecutive years • Cash dividends paid for 144 consecutive years • Strengthening loan growth • Valuable core deposit franchise • Strong historical credit quality • Diversified reve
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