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Vivakor Surpasses $1 Billion in Annualized Physical Crude Transactions


Two additional recurring commercial programs increase estimated annualized commercial activity to more than $1.09 billion while further expanding Vivakor Supply & Trading’s physical crude oil marketing platform.

Dallas, TX, July 24, 2026 (GLOBE NEWSWIRE) — Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), through its wholly owned subsidiary Vivakor Supply & Trading, LLC (“VST”), today announced the execution of two new recurring physical crude oil commercial programs expected to generate approximately $384 million of annualized commercial activity, increasing the Company’s announced physical crude oil marketing platform to more than $1.09 billion of annualized commercial activity, based on current market pricing assumptions.

The new commercial programs consist of two recurring physical crude oil purchase and sale transactions at the Cushing and Midland Terminals and further expand VST’s recurring physical crude oil marketing activities. The agreements reflect the Company’s continued execution of its strategy to build a scalable, integrated commercial marketing platform that complements its transportation, terminaling and storage operations.

Key Highlights

  • Additional Annualized Commercial Activity: Approximately $384 million
  • Commercial Platform: More than $1.09 billion
  • New Commercial Programs: Two
  • Additional Marketed Volume: 400,000 barrels per month (4.8 million barrels annually)
  • Location: Cushing and Midland Terminals
  • Contract Term: August 1, 2026 – July 31, 2027

*Based on current market pricing assumptions. Actual commercial activity will vary based on commodity prices, market differentials, delivered volumes and timing.

“Surpassing $1 billion of announced annualized commercial activity marks an important milestone in the continued growth of Vivakor Supply & Trading,” said James Ballengee, Chairman, President and Chief Executive Officer of Vivakor. “The continued expansion of our recurring commercial programs reflects the strength of our commercial relationships and our ability to consistently originate and execute physical crude oil transactions. As we build additional scale across our marketing platform, we believe we are creating a business that complements our transportation, terminaling and storage operations while supporting long-term shareholder value.”

Consistent with standard physical commodity marketing transactions, VST only recognizes a small percentage of the total contract value as gross profit, reflecting its role as an intermediary in the physical crude oil supply chain. Accordingly, the gross profit recognized by VST will represent only a portion of the estimated commercial activity described above and will vary based on market conditions, commodity pricing, transaction structure and delivered volumes.

About Vivakor, Inc.

Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil, storage, transportation, reuse, and remediation services under long-term contracts. Once operational, Vivakor’s interest in oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.

For more information, please visit our website: http://vivakor.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” or “continue” and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.

These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor’s filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Investor Contact:

P:469-480-7175
[email protected]



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Honeywell Technologies Announces Quarterly Dividend

Honeywell Technologies Announces Quarterly Dividend

CHARLOTTE, N.C.–(BUSINESS WIRE)–
Honeywell Technologies (NASDAQ: HON) today announced that its Board of Directors has declared a quarterly dividend payment of $0.70 per share on the Company’s common stock. The dividend is payable on September 4, 2026, out of surplus to holders of record at the close of business on August 14, 2026.

About Honeywell Technologies

Honeywell Technologies is a global, pure-play automation company with a legacy of innovating to help solve the world’s most mission-critical challenges, enhancing the quality of life for people and communities around the world. We serve the building, industrial, and process sectors with a broad portfolio of services, solutions, and products, underpinned by our Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence layer. By combining the deep domain expertise of our more than 50,000 employees with decades of data from our global installed base, we are uniquely positioned to lead the industrial sector’s transition from automation to autonomy. For more news and information on Honeywell Technologies, please visit Honeywell Technologies Newsroom.

Forward-Looking Statements

We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements related to the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control, including Honeywell Technologies’ current expectations, estimates, and projections regarding the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements, including the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, and the anticipated benefits of each. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, including ongoing conflicts in the Middle East, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Media

Stacey Jones

(980) 378-6258

[email protected]

Investor Relations

Mark Macaluso

(704) 627-6118

[email protected]

KEYWORDS: North Carolina United States North America

INDUSTRY KEYWORDS: Other Manufacturing Technology Engineering Other Technology Manufacturing Software Hardware Electronic Design Automation Data Management

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Shareholders who lost money in shares of GPGI, Inc. (NYSE: GPGI) Should Contact Wolf Haldenstein Immediately

Lead Plaintiff Deadline September 14, 2026

NEW YORK, July 24, 2026 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP, a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against GPGI, Inc. (“GPGI”) (NYSE: GPGI), on behalf of those who purchased or acquired GPGI Class A common stock between November 3, 2025 and May 6, 2026, inclusive.


PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION

Investors who purchased GPGI shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for September 14, 2026.

Main Allegations:


The filed complaint alleges that GPGI made materially false statements regarding:

  1. Overstating the value of Husky Technologies Limited (“Husky”) (acquired in January 2026)
  2. Husky failing to meet projected revenue and EBITDA targets
  3. The acquisition being primarily motivated to generate fees for Resolute Holdings (“Resolute”) rather than create shareholder value
  4. Defendants’ statements lacking reasonable factual basis

Stock Performance Decline:

  • March 12, 2026: After Q4 2025 results showing EBITDA decline, stock dropped 16.4% ($3.23/share)
  • May 7, 2026: After Q1 2026 results showing further deterioration and guidance cuts, stock dropped 25.9% ($4.52/share)

Timeline Context:

  • August 2024: Resolute acquisition announced
  • January 2026: Husky acquisition completed
  • February 2026: Negative research report published
  • March-May 2026: Stock decline events

WHY WOLF HALDENSTEIN?

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.


There is no cost or obligation to speak with an attorney.

Contact:

Firm Website:
 Wolf Haldenstein Adler Freeman & Herz LLP

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.



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Berkshire Hathaway Completes Acquisition of Taylor Morrison

Berkshire Hathaway Completes Acquisition of Taylor Morrison

Taylor Morrison to unify with Berkshire Hathaway’s site-built homebuilding operations

SCOTTSDALE, Ariz., & OMAHA, Neb.–(BUSINESS WIRE)–Berkshire Hathaway Inc. and Taylor Morrison today announced the completion of Berkshire Hathaway’s acquisition of Taylor Morrison for $72.50 per common share in cash, representing a total equity value for Taylor Morrison of approximately $6.8 billion and total enterprise value of approximately $8.5 billion.

Under Berkshire, Taylor Morrison will continue to be led by CEO Sheryl Palmer, who will oversee the integration of Taylor Morrison’s portfolio of brands—including Esplanade, Yardly and Taylor Morrison Home Funding—with Berkshire Hathaway’s site-built homebuilding operations that comprise ClaytonProperties Group, a collection of 15 established regional and local homebuilders. Combined, the integrated operation will serve renters, entry-level, move-up, and resort lifestyle segments.

“Today marks an important step forward as Taylor Morrison joins Berkshire. This best-in-class national homebuilder will lead our vision for a unified site-built homebuilding operation,” said Berkshire Hathaway’s Chief Executive Officer Greg Abel. “Together, we will help more Americans achieve their dream of homeownership.”

“We have always believed in the strength of our business, and today Berkshire Hathaway has confirmed that belief,” said Taylor Morrison Chief Executive Officer Sheryl Palmer. “As we enter this new chapter, the scale and reach we gain by unifying with Berkshire and Clayton’s regional site-built homebuilders is transformative. We’ll now serve more customers, in more markets, with more choices—while maintaining the specialized local expertise that has made us successful. We’re thrilled to build upon that success as we scale to create a combined homebuilding platform unlike anything in the industry.”

Combined, Taylor Morrison and Clayton Properties Group delivered nearly 23,000 site-built home closings in 2025, operate in 21 states and 52 housing markets, and serve more than 700 communities nationally—positioning the combined business as the fourth largest homebuilding operation in the United States.

Transaction Details

Goldman Sachs & Co. LLC and Moelis & Company LLC served as financial advisors, Simpson Thacher & Bartlett LLP served legal advisor, Mayer Brown LLP served as financial services regulatory counsel to Taylor Morrison, and Gibson, Dunn & Crutcher LLP and Baker McKenzie LLP served as counsel to Berkshire Hathaway.

About Berkshire Hathaway

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing.

Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading community developers and homebuilders. It serves entry-level, move-up, and resort lifestyle homebuyers and renters under its family of brands—including Taylor Morrison, Esplanade, and Yardly. Taylor Morrison has been recognized as America’s Most Trusted® Builder by Lifestory Research since 2016, was honored as one of Fortune’s World’s Most Admired Companies in 2026, and on Forbes’ Most Trusted and Best Companies in America lists in 2025.

Berkshire Hathaway
Chuck Chang
(402) 346-1400

Taylor Morrison
Jaclyn Rygg
(480) 376-0641
[email protected]

KEYWORDS: Arizona Nebraska United States North America

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Insurance Finance Asset Management Professional Services Other Construction & Property Residential Building & Real Estate

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Texas A&M Engineering Experiment Station Selects Dell Technologies to Build a Secure AI Platform for National Research

Texas A&M Engineering Experiment Station Selects Dell Technologies to Build a Secure AI Platform for National Research

Story Highlights

  • The Texas A&M Engineering Experiment Station (TEES) selects Dell to deploy IGNITE, a shared AI and high-performance computing platform designed to support federally sponsored, industry and academic research

  • State-funded initiative positions TEES to compete for a new class of federal research programs while expanding access for students, researchers and external collaborators

ROUND ROCK, Texas–(BUSINESS WIRE)–Texas A&M Engineering Experiment Station (TEES) has selected Dell Technologies (NYSE: DELL) to design and build the Innovative Growth in Next Generation AI Technology Ecosystem (IGNITE), a new AI and high-performance computing (HPC) platformi. Funded by the State of Texas, IGNITE will support large scale, AI-driven research across engineering, national security, scientific discovery and other research disciplines using shared infrastructure built to handle workloads with varying security requirements.

IGNITE is designed to scale alongside growing research demands and is expected to be among the largest AI deployments in higher education powered by AMD Instinct™ MI355X GPUs, supporting the next generation of HPC- and AI-driven research.

Why it matters

As federal research programs face greater complexity and security requirements, the infrastructure to support them has become as strategic as the research itself. TEES is the official research agency for Texas A&M Engineering and is pivotal in advancing interdisciplinary research across The Texas A&M University System. As part of a land-, sea- and space-grant R1 university, TEES leads federally sponsored programs spanning energy, healthcare, AI and more.

IGNITE will expand TEES’ capacity to take on increasingly complex research programs. This includes several priority research areas that require large-scale scientific computation, such as mission-critical AI model and LLM development, materials discovery, advanced manufacturing, robotics and defense- and aerospace-related research, where requirements for data governance and security vary by program and sponsor.

A new model for secure, shared research infrastructure

Dell AI Services experts worked with TEES throughout the planning and design process to align the architecture to both research priorities and security requirements. IGNITE introduces a shared infrastructure model governed by policy-based, zero trust security controls. Researchers, students and external collaborators can access shared compute resources across projects with varying security requirements, without the cost and complexity of separate, siloed environments.

Designing a secure, scalable AI research environment

IGNITE will feature Dell PowerRack systems with liquid-cooled Dell PowerEdge XE9785L servers and AMD Instinct MI355X GPUs to accelerate AI training, inference, HPC and other data-intensive workloads across research programs. The data foundation is anchored by Dell AI Data Platform storage (Dell PowerScale) and will deliver high-performance data access and management for large-scale research environments, while Dell Managed Services will support ongoing operations as research demands grow.

Dell will deploy the integrated systems at an Equinix International Business Exchange™ (IBX®) data center in Dallas.

Building on a long-standing collaboration in research and education

IGNITE builds on a long-standing relationship between Dell and the Texas A&M University System. Dell solutions already power Texas A&M HPC ecosystems, including systems such as FASTER, Grace, ACES and Launch.

The collaboration also extends into incubation environments, where researchers and students develop practical AI skills, and into the classroom, where Dell tools and AI-powered solutions are preparing the next generation of engineers, scientists and business leaders.

Perspectives

“As a research organization with more than a century of experience supporting federal agencies, industry and academia, we are constantly evolving to meet the needs of the programs we serve,” said Dr. Robert H. Bishop, vice chancellor and dean, Texas A&M Engineering. “This platform we’re building with Dell Technologies expands what we can take on — supporting increasingly complex, secure research for years to come. It aligns technology investment to long-term institutional priorities while positioning TEES to support the research programs that matter most to the nation.”

“The future of research depends on providing researchers and students with access to the right technologies, the right expertise and the freedom to innovate. IGNITE advances The Texas A&M University System’s commitment to expanding access to next-generation computing environments that support AI-driven research, high-performance workloads and emerging technologies,” said Dr. Vince Kellen, chief information officer, The Texas A&M University System. “Through collaboration with industry leaders such as Dell Technologies, AMD and Equinix, we are building a flexible and scalable platform that accelerates discovery, strengthens workforce development and creates new opportunities for partnership across academia, government and industry.”

“Universities like Texas A&M are at the center of research that shapes national security, economic growth and scientific discovery,” said Fran Bogle, senior vice president, Higher Education and Healthcare, Dell Technologies. “IGNITE gives TEES the AI and compute foundation to compete for the next generation of federal and state research programs – with security controls that keep sensitive data protected without limiting access for the researchers and collaborators who need it. That’s the kind of partnership, from architecture and design to managed services, that defines how Dell works with leading research universities.”

“As research grows more complex, institutions need infrastructure that can support both AI and traditional high-performance computing,” said Thomas Zacharia, senior vice president, Strategic Technical Partnerships and Public Policy, AMD. “Powered by AMD Instinct™ GPUs, IGNITE will provide a flexible platform for both large-scale AI training and traditional HPC workloads, enabling researchers to accelerate discovery across engineering, national security and scientific research.”

“Modern research environments generate and depend on massive volumes of data, requiring secure, sovereign and scalable infrastructure that can support advanced computing workloads,” said Kevin Thames, vice president, Americas Partner Ecosystem, Equinix. “Through our collaboration with Dell Technologies, Equinix will provide the resilient connectivity, ecosystem and secure data center foundation needed to support IGNITE’s growth, helping enable groundbreaking research and innovation across industry, government and academic communities.”

About Dell Technologies

Dell Technologies (NYSE: DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

i The agreement with Dell Technologies was signed in Q2FY27.

Media Relations: [email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Technology Research Security Software Hardware Data Management Science Artificial Intelligence Consumer Electronics

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Green Plains to Host Second Quarter 2026 Earnings Conference Call on August 6, 2026

Green Plains to Host Second Quarter 2026 Earnings Conference Call on August 6, 2026

OMAHA, Neb.–(BUSINESS WIRE)–
Green Plains Inc. (NASDAQ:GPRE) will release second quarter 2026 financial results prior to the market opening on August 6, 2026, and then host a conference call beginning at 9 a.m. Eastern time (8 a.m. Central time) to discuss the results and outlook.

Domestic and international participants can access the conference call by dialing 833.461.5787 and 585.542.9983, respectively, and referencing conference ID 249495185. Participants are advised to call at least 10 minutes prior to the start time. Alternatively, the conference call and presentation can be accessed on the Green Plains website at https://investor.gpreinc.com.

About Green Plains Inc.

Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company focused on disciplined execution and leadership in low‑carbon biofuels and high‑value ingredients. The company operates a performance‑driven platform focused on maximizing yield, lowering carbon intensity, and delivering long‑term value through responsible capital deployment.

For more information, visit www.gpreinc.com.

Green Plains Inc. Contacts

Investors: Will Joekel, CFA | Vice President of Investor Relations and Treasurer | 402.952.4946 | [email protected]

Media: | 402.884.8700 | [email protected]

KEYWORDS: Nebraska United States North America

INDUSTRY KEYWORDS: Environment Other Energy Utilities Oil/Gas Sustainability Alternative Energy Energy Nuclear Agriculture Natural Resources

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Euroholdings Ltd Announces the Results of Its 2026 Annual Meeting of Shareholders

ATHENS, Greece, July 24, 2026 (GLOBE NEWSWIRE) — Euroholdings Ltd (NASDAQ: EHLD, the “Company” or “Euroholdings”) announced today that the 2026 Annual Meeting of the Shareholders of the Company (the “Annual Meeting”) was duly held on July 23, 2026 and that all proposals on the agenda were approved.

At the Annual Meeting, the shareholders of the Company (i) elected Panagiotis Kyriakopoulos and Christos Triantafillidis as Class B directors to serve until the 2029 annual meeting of shareholders and until their successors are elected and qualified; and (ii) ratified the appointment of Deloitte Certified Public Accountants S.A. as independent auditors for the year ending December 31, 2026.

Contacts

Company:

Tasos Aslidis
Chief Strategy Officer & Treasurer
Euroholdings Ltd
(908) 301-9091
[email protected]

Investor Relations / Financial Media:

Nicolas Bornozis / Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel: +1 (212) 661-7566
[email protected]

About Euroholdings Ltd

Euroholdings is an international shipping company specializing in seaborne transportation services. The Company was formed on March 20, 2024, under the laws of the Republic of the Marshall Islands and is listed on the Nasdaq Capital Market under the symbol EHLD. The Company has a fleet of two feeder container carriers with a total carrying capacity of 3,171 TEU and one medium range (MR) product tanker with a capacity of 49,997 dwt. The Company has agreed to acquire a medium-range (MR) product tanker vessel with capacity of 49,997 dwt, built in 2015 in South Korea, from a related party of Marla Investments Inc., the Company’s majority shareholder, not under common control. Delivery of the vessel is expected between mid-June and mid-August 2026.

Forward-Looking Statements

This press release contains forward-looking statements, including as defined under U.S. federal securities laws, concerning future events. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions.  Words such as “anticipates,” “may,” “ongoing,” “potential,” “predicts,” “projects,” “should,” “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities; risks associated with pandemics, including their effects on demand for containerized cargoes and petroleum products and other cargoes transported by container carriers and product tankers and the transportation thereof; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”). Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.



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Starfighters Space Selects CBIZ CPAs P.C. as Independent Registered Public Accounting Firm

Starfighters Space Selects CBIZ CPAs P.C. as Independent Registered Public Accounting Firm

Appointment supports Starfighters’ growth as it expands its operations and public company capabilities

KENNEDY SPACE CENTER, Fla.–(BUSINESS WIRE)–Starfighters Space, Inc. (“Starfighters Space” or the “Company”) (NYSE American: FJET), the space company operating the world’s only commercial fleet of flight-ready Mach 2+ F-104 supersonic aircraft, today announced that, following a thorough evaluation process, its Audit Committee, with the approval of the Board of Directors has engaged CBIZ CPAs P.C. (“CBIZ CPAs”) to serve as the Company’s independent registered public accounting firm.

“Starfighters has a unique capability to play a larger role in the commercial space economy,” said Tim Franta, CEO of Starfighters Space. “Realizing our goals requires the kind of financial discipline and oversight expected of a public company. CBIZ CPAs brings the experience, technical expertise and independence we were looking for in an auditor, and we’re pleased to have their team on board.”

Since becoming a public company in December of 2025, Starfighters has continued to execute on several key initiatives. The Company completed wind tunnel testing for its STARLAUNCH program, advanced the program into Critical Design Review with GE Aerospace, expanded operations in Midland, Texas, secured a $17.5 million strategic investment, and joined the Russell 3000® Index. In a short period of time, Starfighters has made tangible progress in building the business and advancing its commercial aerospace capabilities.

About Starfighters Space, Inc.

Starfighters Space, Inc. is a space company focused on high-speed flight operations, hypersonic testing, space research, pilot training, and future air-launch space capabilities. Operating from NASA’s Kennedy Space Center in Florida, and at the Midland Air and Space Port in Texas, the Company maintains the world’s only commercial fleet of flight-ready F-104 supersonic aircraft capable of sustained Mach 2+ operations.

Starfighters Space is advancing STARLAUNCH, its responsive airborne launch platform designed to support commercial, government, research, and national security-related missions. The Company’s operational capabilities include payload deployment, airborne space testing, microgravity and high-speed flight environments, and reusable airborne launch infrastructure designed to support the evolving commercial space economy.

For more information, visit Starfighters Space.

Forward-Looking Statements

Except for statements of historical fact contained herein, the information presented in this press release constitutes “forward-looking statements” as such term is used in applicable United States securities laws. Forward-looking statements generally relate to future events or the Company’s future financial or operational performance and may include statements regarding the proposed rule changes by the FAA relating to the regulation of supersonic flights, infrastructure expansion, mission readiness activities, commercial space development, hypersonic testing capabilities, future launch operations, operational scaling, and broader space market opportunities.

These forward-looking statements are based on current expectations, estimates, forecasts, and assumptions that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that may cause actual results to differ materially include, but are not limited to, risks associated with the ability to obtain the necessary permits and regulatory approvals, launch licensing requirements, operational execution, development timelines, competitive market conditions, customer adoption, capital requirements, space and defense industry conditions, government contracting risks, macroeconomic conditions, and other risks detailed from time to time in the Company’s filings with the SEC.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. This press release shall not constitute an offer to sell or the solicitation of any offer to buy the Company’s securities.

Investors

[email protected]

Media

[email protected]

KEYWORDS: Florida Texas United States North America Canada

INDUSTRY KEYWORDS: Other Defense Accounting Professional Services Technology Defense Satellite Government Technology Engineering Air Transport Aerospace Manufacturing

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Surgery Partners Announces Entry Into Agreement to Sell Ownership Interests in Idaho Falls Facilities to Intermountain Health; Reaffirms Guidance, Excluding Impact of Transaction

Represents significant milestone in the Company’s ongoing portfolio optimization efforts

BRENTWOOD, Tenn., July 24, 2026 (GLOBE NEWSWIRE) — Surgery Partners, Inc. (NASDAQ:SGRY) (“Surgery Partners” or the “Company”), a leading short-stay surgical facility owner and operator, today announced it, along with its existing partner Intermountain Health, has placed into escrow signature pages to definitive agreements, pursuant to which Surgery Partners would sell its ownership interests in Mountain View Hospital and Idaho Falls Community Hospital to Intermountain Health. Physician ownership of Mountain View Hospital will remain unchanged.

The transaction values the combined Idaho Falls facilities at approximately $1.15 billion. Total consideration to Surgery Partners is approximately $795 million. The Company expects to receive substantial cash proceeds upon closing, with the final amount subject to customary purchase price adjustments, including adjustments for indebtedness, working capital, transaction expenses and other closing items. Accordingly, the Company is unable to provide a reasonable estimate of final net cash proceeds at this time.

Completion of the transaction is subject to customary closing conditions, including the execution of binding Securities Purchase Agreements between the Company and Intermountain Health following requisite Mountain View Hospital physician member and physician governing board approvals. Unless and until these approvals are obtained, there is no assurance regarding the completion of the transaction. 

In addition, the closing of the transaction is subject to customary closing conditions, including expiration of applicable waiting periods under the Hart-Scott-Rodino Act, obtaining any other applicable material regulatory approvals, and obtaining certain material third-party consents.

The transaction is expected to close in the coming months, subject to the forgoing approvals.

“For Surgery Partners, assuming physician partner approval, this transaction represents the largest step forward in our portfolio optimization strategy to date, simplifying our go forward operations, and positioning us to accelerate momentum in the rapidly growing, high-value ambulatory surgery center space,” said Eric Evans, Chief Executive Officer of Surgery Partners. “While our Idaho Falls partnerships have been a large and successful part of our Company’s growth story, these unique facilities are best positioned for their next chapter of growth with an outstanding regional health system like Intermountain. Once complete, this will further sharpen our strategic focus and help support long-term shareholder value. We are confident that Intermountain Health is the best natural owner to continue to advance the mission that Mountain View physician partners started well over two decades ago and to build on their strong legacy of exceptional patient care.”

2026 Outlook

The Company’s previously issued guidance does not reflect the anticipated impact of this transaction. Excluding the impact of this transaction, the Company reaffirms its outlook for 2026 revenues to be in the range of $3.35 billion to $3.45 billion and Adjusted EBITDA of at least $530 million.

The Company intends to provide further details regarding the expected financial impact of the transaction on its 2026 financial outlook at the appropriate time, subject to the completion of the transaction.

Second Quarter 2026 Earnings Release Date and Conference Call Details

Surgery Partners will release its second quarter 2026 results before the market opens on Monday, August 10, 2026, to be followed by a conference call at 8:30 a.m. (Eastern Time).

You can join the call as follows:

  • Dial in number for live access: 1-877-451-6152 (domestic), 1-201-389-0879 (international)
  • Replay (available 3 hours after the call and available until August 24, 2026): 1-844-512-2921 (domestic), 1-412-317-6671 (international)
  • Passcode for the live call and the replay: 13761354

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company’s website at www.surgerypartners.com. The replay will also be available on this same website for a limited time following the call.

To learn more about Surgery Partners please visit the company’s website at www.surgerypartners.com. Surgery Partners uses its website as a channel of distribution of material company information. Financial and other material information regarding Surgery Partners is routinely posted on the Company’s website and is readily accessible.

About Surgery Partners

Headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 200 locations in 30 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities. For additional information, visit www.surgerypartners.com.

About the Idaho Falls Facilities

The Idaho Falls facilities have built a long-standing reputation as preferred providers and leaders in delivering high-quality, affordable care for the Idaho Falls region. Mountain View Hospital was founded in 2002 and has grown into a leading surgical hub and Level III NICU, with the opening of the Idaho Falls Community Hospital in 2019 adding scalable acute care capabilities. Combined, the locations employ over 150 physicians and include 126 beds with a breadth of services across nine surgical specialties and a diverse range of additional service lines, including oncology, emergency department and ICU services, and neonatology.

About Intermountain Health

Headquartered in Utah with locations in six states and additional operations across the western U.S., Intermountain Health is a nonprofit system of 34 hospitals, approximately 400 clinics, medical groups with some 4,600 employed physicians and advanced care providers, a nonprofit health plan called Select Health with more than one million members, and other health services. Helping people live the healthiest lives possible, Intermountain is committed to improving community health and is widely recognized as a leader in transforming healthcare by using evidence-based best practices to consistently deliver high-quality outcomes at sustainable costs.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements, including those regarding growth, our anticipated operating results for future periods and other similar statements. These statements can be identified by the use of words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,” “projects,” “forecasts,” “may,” “could,” and similar expressions. All forward-looking statements are based on current expectations and beliefs as of the date of this release and are subject to risks, uncertainties and other factors that may cause actual results to differ materially from the expectations discussed in, or implied by, the forward-looking statements. Many of these factors are beyond our ability to control or predict including, without limitation, the risk that the potential sale transaction may not be completed in a timely manner or at all, including the risk that required physician, regulatory and other approvals and consents are not obtained, are delayed, or are obtained subject to conditions that are not anticipated; the failure to satisfy other closing conditions to the transaction; the possibility that the anticipated benefits of the sale to the Company are not realized as expected, the potential adverse effect of the announcement or pendency of the transaction on the market price of, or trading in, the Company’s securities and on the Company’s business relationships, operating results, and business generally, including the ability to retain key personnel; risks related to diverting management’s attention from the Company’s ongoing business operations; the amount of costs, fees, expenses, and charges related to the sale transaction; potential litigation relating to the transaction that could be instituted against the Company or its affiliates, officers, or directors, and the effects of any outcomes related thereto; reductions in payments from government health care programs and private insurance payors, such as health maintenance organizations, preferred provider organizations, and other managed care organizations and employers; our ability to contract with private insurance payors; changes in our payor mix or surgical case mix; failure to maintain or develop relationships with physicians on beneficial or favorable terms, or at all; the impact of payor controls designed to reduce the number of surgical procedures; our efforts to integrate operations of acquired or developed businesses and surgical facilities, attract new physician partners, or acquire additional surgical facilities; supply chain issues, including shortages or quality control issues with surgery-related products, equipment and medical supplies; competition for physicians, nurses, strategic relationships, acquisitions and managed care contracts; our ability to attract and retain qualified health care professionals; our ability to enforce non-compete restrictions against our physicians; our ability to manage material liabilities whether known or unknown incurred as a result of acquiring or operating surgical facilities; the impact of future legislation and other health care regulatory reform actions, and the effect of that legislation and other regulatory actions on our business; our ability to comply with current health care laws and regulations; the outcome of legal and regulatory proceedings that have been or may be brought against us; the impact of cybersecurity attacks or intrusions, changes in the regulatory, economic and other conditions of the states where our surgical facilities are located; our indebtedness; the social and economic impact of a pandemic, epidemic or outbreak of a contagious disease on our business; and the risks and uncertainties identified and discussed from time to time in the Company’s reports filed with the Securities and Exchange Commission (the “SEC”), including in Item 1A under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other reports filed with the SEC. Except as required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements to reflect events or circumstances after the date of this report, or to reflect the occurrence of unanticipated events or circumstances.

Contacts

Media/Investor Contact

Surgery Partners Investor Relations
(615) 234-8940
[email protected]

Intermountain Health Media Relations
[email protected]



Posted on

Tompkins Financial Corporation Reports Record Financial Results for Third Consecutive Quarter

Tompkins Financial Corporation Reports Record Financial Results for Third Consecutive Quarter

ITHACA, N.Y.–(BUSINESS WIRE)–Tompkins Financial Corporation (NYSE American: TMP)

Tompkins Financial Corporation (“Tompkins” or the “Company”) reported diluted earnings per share of $2.04 for the second quarter of 2026, up $0.54 or 36.0% compared to the second quarter of 2025 and up $0.22 per share or 12.1% compared to the first quarter of 2026. Net income for the second quarter of 2026 was $29.3 million, up $7.8 million or 36.5% from the second quarter of 2025, and up $3.2 million or 12.4% compared to the immediate prior quarter.

For the six months ended June 30, 2026, diluted earnings per share were $3.86, up 34.5% from the $2.87 reported for the six months ended June 30, 2025. Year-to-date net income was $55.4 million for the six months ended June 30, 2026, up $14.2 million or 34.6% when compared to $41.2 million for the same six month period in 2025.

Tompkins President and CEO, Stephen Romaine, commented, “We are pleased to report our third consecutive quarter of record earnings. Our improving profitability and healthy levels of loan and deposit growth over the past year continue to support momentum in our financial results. Given our strong results and strengthening capital position, we have approved an increase to our dividend, payable in the third quarter of 2026. This increase represents a 13% increase compared to the dividend paid in the third quarter of 2025.”

SELECTED HIGHLIGHTS FOR THE PERIOD:

  • Net interest margin was 3.58% in the second quarter of 2026, in line with the immediate prior quarter, and up 50 basis points from the second quarter of 2025.

  • Period end total loans at June 30, 2026 were up $119.2 million, or 1.8% compared to March 31, 2026 (7.4% on an annualized basis), and up $424.5 million, or 6.9%, from June 30, 2025.

  • Period end total deposits at June 30, 2026 were $7.0 billion, down $25.1 million, or 0.4% compared to the most recent prior quarter end, and up $313.3 million, or 4.7%, from June 30, 2025.

  • Total average cost of funds of 1.68% for the second quarter of 2026 was in line with the first quarter of 2026, and down 16 basis points compared to the second quarter of 2025.

  • Regulatory Tier 1 capital to average assets was 10.69% at June 30, 2026, up from 10.58% at March 31, 2026, and 9.36% at June 30, 2025.

NET INTEREST INCOME

Net interest income was $74.0 million for the second quarter of 2026, up $2.1 million or 3.0% compared to the first quarter of 2026, and up $13.9 million or 23.0% compared to the second quarter of 2025. For the six months ended June 30, 2026, net interest income was $145.8 million, up $29.1 million or 24.9% when compared to the same period in 2025. The increase in net interest income compared to both prior year periods was due to improvement in net interest margin, which is discussed below, and growth in average loans.

Net interest margin was 3.58% for the second quarter of 2026, remaining consistent with the prior quarter, as increased average earning asset yields were partially offset by higher cost of interest-bearing liabilities, driven by seasonal outflow of municipal deposits resulting in increased borrowings for the quarter. The net interest margin for the second quarter of 2026 increased from 3.08% for the second quarter of 2025. The increase in net interest margin when compared to the prior year quarter was mainly due to growth in average loan balances, improved yields on average earning assets, and lower funding costs. Average yield on securities for the second quarter of 2026 was up 101 basis points over the second quarter of 2025, and the average yield on interest earning assets was up 34 basis points compared to the second quarter of 2025.

Average loans for the quarter ended June 30, 2026 were up $90.4 million, or 1.4% (5.6% annualized), over the quarter ended March 31, 2026, and were up $395.7 million, or 6.5%, compared to the quarter ended June 30, 2025. The increase in average loans over both prior periods was mainly in the commercial real estate and commercial and industrial portfolios. The average yield on interest-earning assets for the quarter ended June 30, 2026 was 5.13%, an increase of 4 basis points from 5.09% for the quarter ended March 31, 2026, and up 34 basis points from 4.79% for the quarter ended June 30, 2025.

Average total deposits of $7.0 billion for the second quarter of 2026 were up $62.2 million or 0.9% compared to the first quarter of 2026, and up $297.3 million, or 4.4%, compared to the second quarter of 2025. The cost of interest-bearing deposits of 2.07% for the second quarter of 2026 was up 1 basis point over the most recent prior quarter, and down 17 basis points from the second quarter of 2025. The ratio of average noninterest bearing deposits to average total deposits for the second quarter of 2026 was 26.9%, which was generally unchanged from the first quarter of 2026 and the second quarter of 2025. The average cost of interest-bearing liabilities for the second quarter of 2026 was 2.24%, an increase of 3 basis points when compared to the most recent prior quarter, and down 20 basis points from the second quarter of 2025.

NONINTEREST INCOME

Noninterest income of $13.1 million for the second quarter of 2026 was down $9.4 million or 41.7%, from the second quarter of 2025. The decrease was primarily attributable to a $9.6 million decline in insurance revenue resulting from the sale of our insurance subsidiary, Tompkins Insurance Agencies, Inc. (“TIA”), in the fourth quarter of 2025. Partially offsetting this decline were increases in fee-based service income, including increases in wealth management fees of $265,000 or 5.3%, service charges on deposit accounts of $26,000 or 1.5%, and card service income of $146,000 or 4.6%. Year-to-date noninterest income of $25.0 million was down $22.6 million or 47.5% compared to the same period in 2025. Contributing to the year-over-year decrease was a $21.2 million decline in insurance revenue due to the sale of TIA, and a $1.9 million, or 28.2% decrease in other income, primarily related to a gain on the sale of other real estate owned in the first quarter of 2025. Partially offsetting this decline were increases in fee-based service income, including increases in wealth management fees of $412,000 or 4.1%, service charges on deposit accounts of $16,000 or 0.5%, and card service income of $162,000 or 2.8%.

NONINTEREST EXPENSE

Noninterest expense was $47.1 million for the second quarter of 2026, down $4.6 million or 8.8% compared to the second quarter of 2025. For the six months ended June 30, 2026, noninterest expense totaled $94.8 million, down $7.4 million, or 7.3%, from the same period in 2025.

The decrease in noninterest expense for both periods was primarily attributable to the sale of TIA in the fourth quarter of 2025. The second quarter and year-to-date periods in 2025 included TIA-related salaries and wages and other employee benefits expenses of $6.2 million and $12.1 million, respectively; and other noninterest expenses of $1.5 million and $2.9 million, respectively. For the three and six months ended June 30, 2026, salaries and wages and other employee benefits decreased $4.7 million, or 14.0%, and $8.0 million, or 12.2%, respectively. These decreases were partially offset by annual merit increases and higher other employee benefit costs.

INCOME TAX EXPENSE

Provision for income tax expense was $9.2 million for an effective rate of 24.0% for the second quarter of 2026, compared to $8.4 million for an effective rate of 24.4% for the most recent prior quarter, and $6.8 million for an effective rate of 24.0% for the second quarter of 2025. For the six months ended June 30, 2026, the provision for income tax expense was $17.6 million with an effective tax rate of 24.2% compared to $12.9 million with an effective tax rate of 23.9% for the same period in 2025.

ASSET QUALITY

The allowance for credit losses was 0.89% of total loans and leases at June 30, 2026, down from 0.90% at March 31, 2026, and 0.95% at June 30, 2025. The decrease in the allowance for credit losses coverage ratio compared to June 30, 2025 was mainly due to the improved economic forecasts for unemployment and gross domestic product. The ratio of the allowance to total nonperforming loans and leases was 111.29% at June 30, 2026, compared to 113.06% at March 31, 2026, and 111.55% at June 30, 2025.

Provision for credit losses for the second quarter of 2026 was $1.5 million, in line with the most recent prior quarter, and down from $2.8 million for the second quarter of 2025. Net charge-offs for the three months ended June 30, 2026 were $1.6 million, compared to $775,000 for the first quarter of 2026, and $5.3 million for the second quarter of 2025. The year-over-year decrease was mainly due to a partial charge-off of $4.7 million during the second quarter of 2025 related to one commercial real estate relationship totaling $18.1 million.

Nonperforming assets of $52.9 million represented 0.60% of total assets at June 30, 2026, up from $51.7 million or 0.59% of total assets at March 31, 2026, and $52.6 million or 0.63% of total assets at June 30, 2025. Loans past due 30-89 days totaled $4.7 million at June 30, 2026, $5.9 million at March 31, 2026, and $5.9 million at June 30, 2025.

Special Mention and Substandard loans and leases totaled $140.0 million at June 30, 2026, compared to $120.4 million reported at March 31, 2026, and $96.8 million reported at June 30, 2025. The increase over the most recent prior quarter end was mainly in Special Mention loans, which were up $17.5 million. The increase in Special Mention loans over March 31, 2026 was mainly a result of five performing loans totaling $18.8 million being downgraded during the second quarter of 2026. The Company believes that the existing collateral securing the loans is sufficient to cover the exposure.

CAPITAL POSITION

Capital ratios at June 30, 2026 remained well above the regulatory minimums for well-capitalized institutions. The ratio of total capital to risk-weighted assets was 14.89% at June 30, 2026, compared to 14.78% at March 31, 2026, and 13.15% at June 30, 2025. The ratio of Tier 1 capital to average assets was 10.69% at June 30, 2026, compared to 10.58% at March 31, 2026, and 9.36% at June 30, 2025.

During the second quarter of 2026, the Company repurchased 11,787 shares of common stock at an aggregate cost of $963,433. These shares were purchased under the Company’s 2025 Stock Repurchase Plan. The Company repurchased a total of 35,518 shares of common stock at an aggregate cost of $2.8 million during the first six months of 2026.

LIQUIDITY POSITION

The Company’s liquidity position at June 30, 2026 was consistent with its position at March 31, 2026. The Company’s sources of liquidity include ready access to national and regional wholesale funding sources including Federal funds purchased, repurchase agreements, brokered deposits, Federal Reserve Bank’s Discount Window advances and Federal Home Loan Bank (FHLB) advances. The Company maintained ready access to liquidity of $1.7 billion, or 19.4% of total assets, at June 30, 2026.

ABOUT TOMPKINS FINANCIAL CORPORATION

Tompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Bank & Trust, which offers a full array of products and services, including commercial and consumer banking. Tompkins Bank & Trust provides wealth management services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning services. For more information on Tompkins Financial, visit www.tompkinsfinancial.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements may be identified by use of such words as “may”, “could”, “should”, “will”, “would”, “estimate”, “intend”, “continue”, “believe”, “expect”, “plan”, “commit”, or “anticipate”, as well as the negative and other variations of these terms and other similar words. Examples of forward-looking statements may include statements regarding the sufficiency of existing collateral to cover exposure related to special mention loans and future growth. Forward-looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and economic environment, all of which are difficult to predict and many of which are beyond the control of the Company, that could cause actual results of the Company to differ materially from those expressed and/or implied by forward-looking statements and historical performance. The following factors, in addition to those listed as Risk Factors in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission, are among those that could cause actual results to differ materially from the forward-looking statements and historical performance: changes in general economic, market and regulatory conditions; our ability to attract and retain deposits and other sources of liquidity; gross domestic product growth and inflation trends; the impact of the interest rate and inflationary environment on the Company’s business, financial condition and results of operations; other income or cash flow anticipated from the Company’s operations, investment and/or lending activities; changes in laws and regulations affecting public companies, banks, bank holding companies and/or financial holding companies, including the Dodd-Frank Act, and other federal, state and local government mandates; the impact of any change in the FDIC insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount; changes in supervisory and regulatory scrutiny of financial institutions; technological developments and changes; cybersecurity incidents and threats; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; governmental and public policy changes, including environmental regulation; reliance on large customers; the geographic concentration of our business; the ability to access financial resources in the amounts, at the times, and on the terms required to support the Company’s future businesses; and the economic impact, including market volatility, of national and global events, including the response to bank failures, war and geopolitical matters (including continuing or increasing hostilities in the Middle East and the war in Ukraine), tariffs and trade wars, widespread protests, civil unrest, political uncertainty, and pandemics or other public health crises; and the related financial stress on borrowers and changes to customer behavior and credit risk as a result of any of the foregoing. The Company does not undertake any obligation to update its forward-looking statements.

 

TOMPKINS FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CONDITION
 

(In thousands, except share and per share data)(unaudited)

As of

As of

ASSETS

06/30/2026

12/31/2025

 

 

(Audited)

 

 

 

Cash and noninterest bearing balances due from banks

$

71,691

 

$

50,717

 

Interest bearing balances due from banks

 

76,074

 

 

82,100

 

Cash and Cash Equivalents

 

147,765

 

 

132,817

 

 

 

 

Available-for-sale debt securities, at fair value (amortized cost of $1,419,889 at June 30, 2026 and $1,391,379 at December 31, 2025)

 

1,393,061

 

 

1,382,068

 

Held-to-maturity debt securities, at amortized cost (fair value of $281,495 at June 30, 2026 and $283,860 at December 31, 2025)

 

312,562

 

 

312,528

 

Equity securities, at fair value

 

791

 

 

800

 

Loans held for sale

 

129

 

 

43,440

 

Total loans and leases, net of unearned income and deferred costs and fees

 

6,597,178

 

 

6,446,245

 

Less: Allowance for credit losses

 

58,479

 

 

57,671

 

Net Loans and Leases

 

6,538,699

 

 

6,388,574

 

 

 

 

Federal Home Loan Bank and other stock

 

32,041

 

 

32,307

 

Bank premises and equipment, net

 

71,242

 

 

72,418

 

Corporate owned life insurance

 

79,032

 

 

77,843

 

Goodwill

 

72,736

 

 

72,736

 

Accrued interest and other assets

 

153,464

 

 

152,737

 

Total Assets

$

8,801,522

 

$

8,668,268

 

LIABILITIES

 

 

Deposits:

 

 

Interest bearing:

 

 

Checking, savings and money market

 

3,793,249

 

 

3,742,402

 

Time

 

1,305,531

 

 

1,298,393

 

Noninterest bearing

 

1,930,331

 

 

1,896,967

 

Total Deposits

 

7,029,111

 

 

6,937,762

 

 

 

 

Federal funds purchased and securities sold under agreements to repurchase

 

181,710

 

 

95,569

 

Other borrowings

 

546,358

 

 

564,446

 

Other liabilities

 

84,411

 

 

132,114

 

Total Liabilities

$

7,841,590

 

$

7,729,891

 

EQUITY

 

 

Shareholders’ equity:

 

 

Common Stock – par value $0.10 per share: Authorized 25,000,000 shares; Issued: 14,410,189 at June 30, 2026; and 14,449,845 at December 31, 2025

 

1,442

 

 

1,446

 

Additional paid-in capital

 

296,831

 

 

299,206

 

Retained earnings

 

698,243

 

 

662,161

 

Accumulated other comprehensive loss

 

(32,056

)

 

(19,054

)

Treasury stock, at cost – 90,521 shares at June 30, 2026, and 104,492 shares at December 31, 2025

 

(4,528

)

 

(5,382

)

Total Equity

$

959,932

 

$

938,377

 

Total Liabilities and Equity

$

8,801,522

 

$

8,668,268

 

TOMPKINS FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data) (Unaudited)

Three Months Ended

Six Months Ended

 

06/30/2026

03/31/2026

06/30/2025

06/30/2026

06/30/2025

INTEREST AND DIVIDEND INCOME

 

 

 

 

 

Loans

$

90,087

 

$

87,123

 

$

82,293

$

177,210

 

$

160,923

Due from banks

 

193

 

 

166

 

 

187

 

359

 

 

362

Available-for-sale debt securities

 

13,896

 

 

13,702

 

 

9,311

 

27,598

 

 

18,040

Held-to-maturity debt securities

 

1,222

 

 

1,218

 

 

1,220

 

2,440

 

 

2,437

Federal Home Loan Bank and other stock

 

543

 

 

460

 

 

635

 

1,003

 

 

1,346

Total Interest and Dividend Income

 

105,941

 

$

102,669

 

$

93,646

$

208,610

 

$

183,108

INTEREST EXPENSE

 

 

 

 

 

Time certificates of deposits of $250,000 or more

 

4,192

 

 

4,478

 

 

4,140

 

8,670

 

 

8,647

Other deposits

 

22,338

 

 

21,531

 

 

23,339

 

43,869

 

 

45,482

Federal funds purchased and securities sold under agreements to repurchase

 

59

 

 

18

 

 

61

 

77

 

 

102

Other borrowings

 

5,369

 

 

4,781

 

 

5,976

 

10,150

 

 

12,085

Total Interest Expense

 

31,958

 

 

30,808

 

 

33,516

 

62,766

 

 

66,316

Net Interest Income

 

73,983

 

 

71,861

 

 

60,130

 

145,844

 

 

116,792

Less: Provision for credit loss expense

 

1,502

 

 

1,502

 

 

2,780

 

3,004

 

 

8,067

Net Interest Income After Provision for Credit Loss Expense

 

72,481

 

 

70,359

 

 

57,350

 

142,840

 

 

108,725

NONINTEREST INCOME

 

 

 

 

 

Insurance commissions and fees

 

0

 

 

0

 

 

9,609

 

0

 

 

21,208

Wealth management fees

 

5,229

 

 

5,266

 

 

4,964

 

10,495

 

 

10,083

Service charges on deposit accounts

 

1,816

 

 

1,795

 

 

1,790

 

3,611

 

 

3,595

Card services income

 

3,296

 

 

2,642

 

 

3,150

 

5,938

 

 

5,776

Other income

 

2,797

 

 

2,136

 

 

2,998

 

4,933

 

 

6,867

Net (loss) gain on securities transactions

 

(4

)

 

(5

)

 

1

 

(9

)

 

15

Total Noninterest Income

 

13,134

 

 

11,834

 

 

22,512

 

24,968

 

 

47,544

NONINTEREST EXPENSE

 

 

 

 

 

Salaries and wages

 

22,955

 

 

21,948

 

 

26,368

 

44,903

 

 

51,345

Other employee benefits

 

5,875

 

 

6,807

 

 

7,162

 

12,682

 

 

14,262

Net occupancy expense of premises

 

3,296

 

 

3,455

 

 

3,108

 

6,751

 

 

6,678

Furniture and fixture expense

 

2,025

 

 

2,027

 

 

2,069

 

4,052

 

 

3,856

Other operating expense

 

12,915

 

 

13,489

 

 

12,916

 

26,404

 

 

26,089

Total Noninterest Expenses

 

47,066

 

 

47,726

 

 

51,623

 

94,792

 

 

102,230

Income Before Income Tax Expense

 

38,549

 

 

34,467

 

 

28,239

 

73,016

 

 

54,039

Income Tax Expense

 

9,245

 

 

8,393

 

 

6,768

 

17,638

 

 

12,889

Net Income

$

29,304

 

 

26,074

 

 

21,471

 

55,378

 

 

41,150

Basic Earnings Per Share

$

2.06

 

$

1.83

 

$

1.51

$

3.89

 

$

2.89

Diluted Earnings Per Share

$

2.04

 

$

1.82

 

$

1.50

$

3.86

 

$

2.87

Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)

 

 

 

 

Quarter Ended

Quarter Ended

Quarter Ended

 

June 30, 2026

March 31, 2026

June 30, 2025

(dollar amounts in thousands)

Average

Balance

(QTD)

Interest

Average

Yield/Rate

Average

Balance

(QTD)

Interest

Average

Yield/Rate

Average

Balance

(QTD)

Interest

Average

Yield/Rate

ASSETS

 

 

 

 

 

 

 

 

 

Interest-earning assets

 

 

 

 

 

 

 

 

 

Interest-bearing balances due from banks

$

17,416

$

192

 

4.42

%

$

13,394

$

166

 

5.03

%

$

15,820

$

187

 

4.74

%

Securities1

 

 

 

 

 

 

 

 

 

U.S. Government securities

 

1,650,865

 

14,640

 

3.56

%

 

1,636,770

 

14,435

 

3.58

%

 

1,610,090

 

10,026

 

2.50

%

State and municipal2

 

79,748

 

526

 

2.65

%

 

81,218

 

536

 

2.68

%

 

85,080

 

554

 

2.61

%

Other Securities2

 

3,293

 

50

 

6.09

%

 

3,305

 

49

 

6.01

%

 

3,279

 

53

 

6.48

%

Total securities

 

1,733,906

 

15,216

 

3.52

%

 

1,721,293

 

15,020

 

3.54

%

 

1,698,449

 

10,633

 

2.51

%

FHLBNY and FRB stock

 

32,128

 

543

 

6.78

%

 

29,016

 

460

 

6.43

%

 

31,660

 

635

 

8.05

%

Total loans and leases, net of unearned income2,3

 

6,525,286

 

90,243

 

5.55

%

 

6,434,853

 

87,337

 

5.50

%

 

6,129,561

 

82,499

 

5.40

%

Total interest-earning assets

 

8,308,736

 

106,194

 

5.13

%

 

8,198,556

 

102,983

 

5.09

%

 

7,875,490

 

93,954

 

4.79

%

Other assets

 

352,338

 

 

 

382,767

 

 

 

293,105

 

 

Total assets

$

8,661,074

 

 

$

8,581,323

 

 

$

8,168,595

 

 

LIABILITIES & EQUITY

 

 

 

 

 

 

 

 

 

Deposits

 

 

 

 

 

 

 

 

 

Interest-bearing deposits

 

 

 

 

 

 

 

 

 

Interest bearing checking, savings, & money market

$

3,855,494

$

16,359

 

1.70

%

$

3,823,812

$

15,589

 

1.65

%

$

3,680,761

$

16,504

 

1.80

%

Time deposits

 

1,280,086

 

10,171

 

3.19

%

 

1,285,701

 

10,420

 

3.29

%

 

1,230,182

 

10,975

 

3.58

%

Total interest-bearing deposits

 

5,135,580

 

26,530

 

2.07

%

 

5,109,513

 

26,009

 

2.06

%

 

4,910,943

 

27,479

 

2.24

%

Federal funds purchased & securities sold under agreements to repurchase

 

40,636

 

59

 

0.58

%

 

42,788

 

18

 

0.17

%

 

42,123

 

61

 

0.58

%

Other borrowings

 

550,041

 

5,369

 

3.92

%

 

491,310

 

4,781

 

3.95

%

 

550,558

 

5,976

 

4.35

%

Total interest-bearing liabilities

 

5,726,257

 

31,958

 

2.24

%

 

5,643,611

 

30,808

 

2.21

%

 

5,503,624

 

33,516

 

2.44

%

Noninterest bearing deposits

 

1,891,560

 

 

 

1,855,440

 

 

 

1,818,922

 

 

Accrued expenses and other liabilities

 

89,540

 

 

 

130,879

 

 

 

96,074

 

 

Total liabilities

 

7,707,357

 

 

 

7,629,930

 

 

 

7,418,620

 

 

Total equity

 

953,717

 

 

 

951,393

 

 

 

749,975

 

 

Total liabilities and equity

$

8,661,074

 

 

$

8,581,323

 

 

$

8,168,595

 

 

Interest rate spread

 

 

2.89

%

 

 

2.88

%

 

 

2.34

%

Tax-equivalent net interest income/margin on earning assets

 

 

74,236

 

3.58

%

 

 

72,175

 

3.57

%

 

 

60,438

 

3.08

%

Tax-equivalent adjustment

 

 

(253

)

 

 

 

(314

)

 

 

 

(308

)

 

Net interest income

 

$

73,983

 

 

 

$

71,861

 

 

 

$

60,130

 

 

Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)

 

Year to Date Period Ended

Year to Date Period Ended

 

June 30, 2026

June 30, 2025

(dollar amounts in thousands)

Average

Balance

(YTD)

Interest

Average

Yield/Rate

Average

Balance

(YTD)

Interest

Average

Yield/Rate

ASSETS

 

 

 

 

 

 

Interest-earning assets

 

 

 

 

 

 

Interest-bearing balances due from banks

$

15,416

$

359

 

4.70

%

$

16,121

$

362

 

4.53

%

Securities1

 

 

 

 

 

 

U.S. Government securities

 

1,643,856

 

29,075

 

3.57

%

 

1,604,469

 

19,467

 

2.45

%

State and municipal2

 

80,479

 

1,062

 

2.66

%

 

85,484

 

1,108

 

2.61

%

Other securities

 

3,299

 

99

 

6.05

%

 

3,277

 

106

 

6.52

%

Total securities

 

1,727,634

 

30,236

 

3.53

%

 

1,693,230

 

20,681

 

2.46

%

FHLBNY and FRB stock

 

30,581

 

1,003

 

6.61

%

 

31,821

 

1,346

 

8.53

%

Total loans and leases, net of unearned income2,3

 

6,480,319

 

177,581

 

5.53

%

 

6,077,749

 

161,335

 

5.35

%

Total interest-earning assets

 

8,253,950

 

209,179

 

5.11

%

 

7,818,921

 

183,724

 

4.74

%

Other assets

 

367,469

 

 

 

293,975

 

 

Total assets

$

8,621,419

 

 

$

8,112,896

 

 

LIABILITIES & EQUITY

 

 

 

 

 

 

Deposits

 

 

 

 

 

 

Interest-bearing deposits

 

 

 

 

 

 

Interest bearing checking, savings, & money market

$

3,839,741

$

31,947

 

1.68

%

$

3,681,535

$

32,597

 

1.79

%

Time deposits

 

1,282,878

 

20,593

 

3.24

%

 

1,194,807

 

21,532

 

3.63

%

Total interest-bearing deposits

 

5,122,619

 

52,540

 

2.07

%

 

4,876,342

 

54,129

 

2.24

%

Federal funds purchased & securities sold under agreements to repurchase

 

41,706

 

77

 

0.37

%

 

44,873

 

102

 

0.46

%

Other borrowings

 

520,838

 

10,149

 

3.93

%

 

556,239

 

12,085

 

4.38

%

Total interest-bearing liabilities

 

5,685,163

 

62,766

 

2.23

%

 

5,477,454

 

66,316

 

2.44

%

Noninterest bearing deposits

 

1,873,599

 

 

 

1,799,169

 

 

Accrued expenses and other liabilities

 

110,095

 

 

 

97,170

 

 

Total liabilities

 

7,668,857

 

 

 

7,373,793

 

 

Total equity

 

952,562

 

 

 

739,103

 

 

Total liabilities and equity

$

8,621,419

 

 

$

8,112,896

 

 

Interest rate spread

 

 

2.88

%

 

 

2.30

%

Net interest income (TE)/margin on earning assets

 

 

146,413

 

3.58

%

 

 

117,408

 

3.03

%

Tax Equivalent Adjustment

 

 

(569

)

 

 

 

(616

)

 

Net interest income

 

$

145,844

 

 

 

$

116,792

 

 

Tompkins Financial Corporation – Summary Financial Data (Unaudited)

(In thousands, except per share data)

 

 

 

 

 

 

 

Quarter-Ended

Year-Ended

Period End Balance Sheet

Jun-26

Mar-26

Dec-25

Sep-25

Jun-25

Dec-25

Securities

$

1,706,414

$

1,702,250

$

1,695,396

$

1,604,357

$

1,588,647

$

1,695,396

Total Loans

 

6,597,178

 

6,477,943

 

6,446,245

 

6,288,071

 

6,172,654

 

6,446,245

Allowance for credit losses

 

58,479

 

58,108

 

57,671

 

59,889

 

58,555

 

57,671

Total assets

 

8,801,522

 

8,695,761

 

8,668,268

 

8,468,731

 

8,373,818

 

8,668,268

Total deposits

 

7,029,111

 

7,054,172

 

6,937,762

 

7,053,070

 

6,715,795

 

6,937,762

Brokered deposits

 

169,014

 

109,712

 

114,391

 

145,223

 

138,787

 

114,391

Federal funds purchased and securities sold under agreements to repurchase

 

181,710

 

118,133

 

95,569

 

80,804

 

127,111

 

95,569

Other borrowings

 

546,358

 

449,446

 

564,446

 

444,866

 

672,696

 

564,446

Total equity

 

959,932

 

946,741

 

938,377

 

788,805

 

761,793

 

938,377

Average Balance Sheet

 

 

 

 

 

 

Average earning assets

$

8,308,736

$

8,198,556

$

8,058,427

$

7,967,674

$

7,875,490

$

7,916,783

Average assets

 

8,661,074

 

8,581,323

 

8,372,287

 

8,297,448

 

8,168,595

 

8,224,794

Average interest-bearing liabilities

 

5,726,257

 

5,643,611

 

5,484,440

 

5,530,563

 

5,503,624

 

5,492,601

Average equity

 

953,717

 

951,393

 

875,658

 

771,527

 

749,975

 

781,695

Share data

 

 

 

 

 

 

Weighted average shares outstanding (basic)

 

14,224,972

 

14,250,969

 

14,270,206

 

14,248,533

 

14,246,395

 

14,252,810

Weighted average shares outstanding (diluted)

 

14,333,390

 

14,347,514

 

14,356,680

 

14,345,219

 

14,320,125

 

14,335,358

Period-end shares outstanding

 

14,382,196

 

14,392,337

 

14,420,495

 

14,431,300

 

14,430,985

 

14,420,495

Common equity book value per share

$

66.74

$

65.78

$

65.07

$

54.66

$

52.79

$

65.07

Tangible book value per share (Non-GAAP)**

$

61.68

$

60.73

$

60.03

$

48.19

$

46.31

$

60.03

**See “Non-GAAP measures” below for a discussion of non-GAAP financial measures and a reconciliation of non-GAAP financial measures to the most directly comparable financial measures presented in accordance with GAAP.

Income Statement

 

 

 

 

 

 

Net interest income

$

73,983

$

71,861

$

69,061

$

63,878

$

60,130

$

249,731

Provision for credit loss expense

 

1,502

 

1,502

 

977

 

2,490

 

2,780

 

11,534

Noninterest income

 

13,134

 

11,834

 

125,763

 

23,564

 

22,512

 

196,871

Noninterest expense

 

47,066

 

47,726

 

54,135

 

53,847

 

51,623

 

210,212

Income tax expense

 

9,245

 

8,393

 

43,464

 

7,432

 

6,768

 

63,785

Net income attributable to Tompkins Financial Corporation

 

29,304

 

26,074

 

96,248

 

23,673

 

21,471

 

161,071

Basic earnings per share4

 

2.06

 

1.83

 

6.74

 

1.66

 

1.51

 

11.30

Diluted earnings per share4

 

2.04

 

1.82

 

6.70

 

1.65

 

1.50

 

11.24

Nonperforming Assets

 

 

 

 

 

 

Nonaccrual loans and leases

$

52,426

$

51,271

$

47,794

$

52,805

$

52,325

$

47,794

Loans and leases 90 days past due and accruing

 

122

 

124

 

146

 

166

 

166

 

146

Total nonperforming loans and leases

 

52,548

 

51,395

 

47,940

 

52,971

 

52,491

 

47,940

OREO

 

384

 

269

 

229

 

0

 

81

 

229

Total nonperforming assets

$

52,932

$

51,664

$

48,169

$

52,971

$

52,572

$

48,169

Tompkins Financial Corporation – Summary Financial Data (Unaudited) – continued

 

Quarter-Ended

Year-Ended

Delinquency – Total loan and lease portfolio

Jun-26

Mar-26

Dec-25

Sep-25

Jun-25

Dec-25

Loans and leases 30-89 days past due and

 

 

 

 

 

 

accruing

$

4,666

$

5,874

$

8,806

$

7,841

$

5,857

$

8,806

Loans and leases 90 days past due and accruing

 

122

 

124

 

146

 

166

 

166

 

146

Total loans and leases past due and accruing

 

4,788

 

5,998

 

8,952

 

8,007

 

6,023

 

8,952

Allowance for Credit Losses

Balance at beginning of period

$

58,108

 

$

57,671

$

59,889

 

$

58,555

$

61,023

 

$

56,496

 

Provision for credit losses

 

1,962

 

 

1,212

 

1,064

 

 

2,454

 

2,786

 

$

11,564

 

Net loan and lease charge-offs (recoveries)

 

1,591

 

 

775

 

3,282

 

 

1,120

 

5,254

 

$

10,389

 

Allowance for credit losses at end of period

$

58,479

 

$

58,108

$

57,671

 

$

59,889

$

58,555

 

$

57,671

 

 

 

 

 

 

 

 

Allowance for Credit Losses – Off-Balance Sheet Exposure

Balance at beginning of period

$

1,723

 

$

1,433

$

1,520

 

$

1,484

$

1,490

 

$

1,463

 

Provision (credit) for credit losses

 

(460

)

 

290

 

(87

)

 

36

 

(6

)

$

(30

)

Allowance for credit losses at end of period

$

1,263

 

$

1,723

$

1,433

 

$

1,520

$

1,484

 

$

1,433

 

Loan Classification – Total Portfolio

 

 

 

 

 

 

Special Mention

$

83,631

$

66,104

$

100,717

$

88,398

$

40,048

$

100,717

Substandard

 

56,380

 

54,331

 

33,764

 

55,762

 

56,740

 

33,764

Ratio Analysis

Credit Quality

 

 

 

 

 

 

Nonperforming loans and leases/total loans and leases

0.80

%

0.79

%

0.74

%

0.84

%

0.85

%

0.74

%

Nonperforming assets/total assets

0.60

%

0.59

%

0.56

%

0.63

%

0.63

%

0.56

%

Allowance for credit losses/total loans and leases

0.89

%

0.90

%

0.89

%

0.95

%

0.95

%

0.89

%

Allowance/nonperforming loans and leases

111.29

%

113.06

%

120.30

%

113.06

%

111.55

%

120.30

%

Net loan and lease losses (recoveries) annualized/total average loans and leases

0.10

%

0.05

%

0.21

%

0.07

%

0.34

%

0.17

%

Capital Adequacy

 

 

 

 

 

 

Tier 1 Capital (to average assets)

10.69

%

10.58

%

10.62

%

9.41

%

9.36

%

10.62

%

Total Capital (to risk-weighted assets)

14.89

%

14.78

%

14.56

%

13.27

%

13.15

%

14.56

%

Profitability (period-end)

 

 

 

 

 

 

Return on average assets *

1.36

%

1.23

%

4.56

%

1.13

%

1.05

%

1.96

%

Return on average equity *

12.32

%

11.11

%

43.61

%

12.17

%

11.48

%

20.61

%

Net interest margin (TE) *

3.58

%

3.57

%

3.42

%

3.20

%

3.08

%

3.17

%

Average yield on interest-earning assets*

5.13

%

5.09

%

4.98

%

4.90

%

4.79

%

4.84

%

Average cost of deposits*

1.51

%

1.51

%

1.58

%

1.64

%

1.64

%

1.62

%

Average cost of funds*

1.68

%

1.67

%

1.71

%

1.83

%

1.84

%

1.80

%

* Quarterly ratios have been annualized

Tompkins Financial Corporation – Summary Financial Data (Unaudited) – continued

Non-GAAP Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as reconciliation to the comparable GAAP measure, is provided in the below table. The Company believes the non-GAAP measures provide meaningful comparisons of our underlying operational performance and facilitate management’s and investors’ assessments of business and performance trends in comparison to others in the financial services industry. These non-GAAP financial measures should not be considered in isolation or as a measure of the Company’s profitability or liquidity; they are in addition to, and are not a substitute for, financial measures under GAAP. The non-GAAP financial measures presented herein may be different from non-GAAP financial measures used by other companies, and may not be comparable to similarly titled measures reported by other companies. Further, the Company may utilize other measures to illustrate performance in the future. Non-GAAP financial measures have limitations since they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP.

Reconciliation of Tangible Book Value Per Share (non-GAAP) to Common Equity Book Value Per Share (GAAP)

 

Quarter-Ended

Year-Ended

 

Jun-26

Mar-26

Dec-25

Sep-25

Jun-25

Dec-25

Common equity book value per share (GAAP)

$

66.74

$

65.78

$

65.07

$

54.66

$

52.79

$

65.07

Total common equity

$

959,932

$

946,741

$

938,377

$

788,805

$

761,793

$

938,377

Less: Goodwill and intangibles*

 

72,766

 

72,766

 

72,766

 

93,405

 

93,503

 

72,766

Tangible common equity (Non-GAAP)

 

887,166

 

873,975

 

865,611

 

695,400

 

668,290

 

865,611

Ending shares outstanding

 

14,382,196

 

14,392,337

 

14,420,495

 

14,431,300

 

14,430,985

 

14,420,495

Tangible book value per share (Non-GAAP)

$

61.68

$

60.73

$

60.03

$

48.19

$

46.31

$

60.03

*The decline in goodwill for the fourth quarter of 2025 over the prior periods shown in the table reflects the sale of TIA.

1 Average balances and yields on available-for-sale securities are based on historical amortized cost.

2 Interest income includes the tax effects of taxable-equivalent adjustments using an effective income tax rate of 21% in 2026 and 2025 to increase tax exempt interest income to taxable-equivalent basis.

3 Nonaccrual loans are included in the average asset totals presented above. Payments received on nonaccrual loans have been recognized as disclosed in Note 1 of the Company’s consolidated financial statements included in Part I of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

4 Earnings per share for the full fiscal year may not equal the sum of the quarterly earnings per share as a result of rounding of average shares.

 

For more information contact:

Stephen S. Romaine, President & CEO

Matthew Tomazin, Executive VP & CFO

Tompkins Financial Corporation (888) 503-5753

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Asset Management Professional Services Finance

MEDIA: