Tompkins Financial Slips To Loss In Q3
(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.
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