Tompkins Financial: Improving Fundamentals, But Still A 'Hold'
Tompkins Financial Corporation has shown operational improvements with growth in deposits and loans. The company's net interest margin has increased, although non-interest income has declined due to the sale of its insurance subsidiary. Despite these advancements, the asset quality and valuation of TMP remain average compared to its peers, leading to a 'Hold' rating.
- ▪Tompkins Financial has experienced growth in deposits and loans.
- ▪The net interest margin increased to 3.57% due to higher loan yields.
- ▪Non-interest income declined following the sale of the insurance subsidiary.
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