Ithaca, N.Y. — The Tompkins Trust Company enjoyed strong growth in mortgages, deposits and commercial loans while also building its presence in Cortland, Cayuga and Onondaga counties over the last year.
[fvplayer src=”https://vimeo.com/120846728″ loop=”fale” mobile=”https://vimeo.com/120846728″]
The 21st Century Library Campaign — Tompkins County Public Library
That’s according to Greg Hartz, president of the Tompkins Trust Company, who spoke Monday night at the Tompkins Financial Corporation’s annual stockholders meeting.
“We celebrated the one-year anniversary of our new Cortland office, where we have been truly embraced,” Hartz said.
Hartz spoke ahead of Steve Romaine, president and CEO of Tompkins Financial; Tom Rochon, president of Ithaca College and chairman of Tompkins Financial Corporation; as well as Frank Fetsko, chief financial and operating officer of Tompkins Financial.
Fetsko displayed a chart that showed the earnings trends of Tompkins Financial compared against that of the financial industry as a whole.
“You will note the consistency and generally improving trends of our earnings over this period,” Fetsko said to the room of an estimated 130 at the Country Club in Ithaca.
Meanwhile, the earning trends across the industry, Fetsko says, “were considerably more erratic.”
Some of the other things Fetsko said in his presentation:
— 2014 marked a “record year of earnings.”
— A generally slow economic climate and low inflation rates have, Fetsko acknowledged, hurt the bank somewhat.
— Fetsko said that, over the last five years, Tompkins Financial has “consistently outperformed” its peers.
— The company’s earnings have grown 39 of the last 41 years.
— Fetsko credited the stability of the company’s earnings to a “disciplined credit culture.”
— There have been 26 consecutive years of dividend increases, Fetsko says.
— The company has had a cash dividend for 136 consecutive years.
“We’re very proud of our long-term track record of profitability,” Fetsko said.
“We feel well prepared to continue our long-term strategy as a high performer, long into the future.”