Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2025 and 2024 segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value:


Recurring Fair Value Measurements
(In thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2025
Assets
Available-for-sale debt securities
U.S. Treasuries	$	53,780	$	0	$	53,780	$	0
Obligations of U.S. Government sponsored entities	348,403		0		348,403		0
Obligations of U.S. states and political subdivisions	76,310		0		76,310		0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	313,496		0		313,496		0
U.S. Government sponsored entities	587,632		0		587,632		0

U.S. corporate debt securities	2,447		0		2,447		0
Total Available-for-sale debt securities	$	1,382,068	$	0	$	1,382,068	$	0
Equity securities, at fair value	800		0		0		800
Derivatives designated as hedging instruments	33		0		33		0
Derivatives not designated as hedging instruments	5,032		0		5,032		0
Liabilities
Derivatives not designated as hedging instruments	$	5,389	$	0	$	5,389	$	0
December 31, 2024
Assets
Available-for-sale debt securities
U.S. Treasuries	$	71,497	$	0	$	71,497	$	0
Obligations of U.S. Government sponsored entities	380,280		0		380,280		0
Obligations of U.S. states and political subdivisions	77,694		0		77,694		0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	63,254		0		63,254		0
U.S. Government sponsored entities	636,360		0		636,360		0

U.S. corporate debt securities	2,447		0		2,447		0
Total Available-for-sale debt securities	$	1,231,532	$	0	$	1,231,532	$	0
Equity securities, at fair value	768		0		0		768
Derivatives designated as hedging instruments	864		0		864		0
Derivatives not designated as hedging instruments	1,831		0		1,831		0
Liabilities
Derivatives not designated as hedging instruments	$	2,073	$	0	$	2,073	$	0

Schedule of Assets and Liabilities Measured at Fair Value on a Non Recurring Basis

The below table provides certain assets measured at fair value on a nonrecurring basis at December 31, 2025:


			Fair value measurements at reporting date using:
(In thousands)			Quoted prices in active markets for identical assets		Significant other observable inputs		Significant unobservable inputs		Gain (losses) from fair value changes
Assets:			(Level 1)		(Level 2)		(Level 3)
December 31, 2025
Individually evaluated loans	$	25,394	$	0	$	0	$	25,394	$	(7,673)
Other real estate owned	229		0		0		229		1,954
December 31, 2024
Individually evaluated loans	$	7,471	$	0	$	0	$	7,471	$	249
Other real estate owned	14,314		0		0		14,314		43

Schedule of Carrying Amount and Fair Value of Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at December 31, 2025 and 2024. The carrying amounts shown in the table are included in the Consolidated Statements of Condition under the indicated captions. The fair value estimates, methods and assumptions set forth below for the Company’s financial instruments, including those financial instruments carried at cost, are made solely to comply with disclosures required by GAAP and does not always incorporate the exit-price concept of fair value prescribed by ASC Topic 820-10 and should be read in conjunction with the financial statements and notes included in this Report.


Estimated Fair Value of Financial Instruments
(In thousands)	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2025
Financial Assets:
Cash and cash equivalents	$	132,817	$	132,817	$	132,817	$	0	$	0
Securities - held-to-maturity	312,528		283,860		0		283,860		0
FHLB stock and other stock	32,307		32,307		0		32,307		0
Accrued interest receivable	30,697		30,697		0		30,697		0
Loans/leases, net1	6,432,014		6,129,089		0		0		6,129,089

Financial Liabilities:
Time deposits	$	1,298,393	$	1,296,714	$	0	$	1,296,714	$	0
Other deposits	5,639,369		5,639,369		0		5,639,369		0
Fed funds purchased and securities sold
under agreements to repurchase	95,569		95,569		0		95,569		0
Other borrowings	564,446		565,568		0		565,568		0

Accrued interest payable	4,920		4,920		0		4,920		0
December 31, 2024
Financial Assets:
Cash and cash equivalents	$	134,398	$	134,398	$	134,398	$	0	$	0
Securities - held-to-maturity	312,462		267,295		0		267,295		0
FHLB stock and other stock	42,255		42,255		0		42,255		0
Accrued interest receivable	28,823		28,823		0		28,823		0
Loans/leases, net1	5,963,426		5,584,661		0		0		5,584,661

Financial Liabilities:
Time deposits	$	1,068,375	$	1,064,548	$	0	$	1,064,548	$	0
Other deposits	5,403,430		5,403,430		0		5,403,430		0
Fed funds purchased and securities sold
under agreements to repurchase	37,036		37,036		0		37,036		0
Other borrowings	790,247		789,915		0		789,915		0

Accrued interest payable	4,854		4,854		0		4,854		0

1 Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value.

TOMPKINS FINANCIAL CORP 10-K