Tompkins Financial Corporation to Aid Employees Affected by the COVID-19 Pandemic
01 April 2020 - 11:50PM
Business Wire
In an effort to assist its employees with unexpected financial
burdens faced during the current COVID-19 crisis, Tompkins
Financial is offering a discounted loan program to non-executive
employees who have encountered increased expenses or decreased
income. These include spouse or domestic partner’s job loss and
unexpected costs for elder care or child care. In addition,
Tompkins has instituted a premium of up to 25% additional pay for
employees whose essential work requires them to be on-site.
“Banks have been deemed to provide an essential service to our
customers and communities and this is a way we can show our
appreciation to our employees,” said Stephen Romaine, president and
CEO. “We understand that while we, as a company, are fortunate
enough to maintain our workforce during this time, our team members
may have spouses or partners who experience job loss. We also
appreciate that they may experience unexpected costs related to the
pandemic. We want our team members to know that Tompkins is
standing by them in the same way they are standing by our
customers.”
The premium pay model will apply to both exempt and non-exempt
non-executive employees whose work requires them to report to a
Tompkins location to perform essential job duties.
Tompkins Financial Corporation is a 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 Trust Company,
Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST
Bank, Tompkins Insurance Agencies, Inc., and offers wealth
management services through Tompkins Financial Advisors. For more
information on Tompkins Financial, visit
www.tompkinsfinancial.com.
"Safe Harbor" Statement under the Private Securities
Litigation Reform of 1995:
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are neither historical facts
nor assurances of future performance. Examples of forward-looking
statements in this press release include, without limitation, those
regarding the novel coronavirus (COVID-19) and our plans in
response to the coronavirus. Forward-looking statements may be
identified by use of such words as "may", "will", "estimate",
"intend", "continue", "believe", "expect", "plan", or "anticipate",
and other similar words. Forward-looking statements are made based
on management’s expectations and beliefs concerning future events
impacting the Company and are subject to certain 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. 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, 2019, are among those that could cause actual results
to differ materially from the forward-looking statements: changes
in general economic, market and regulatory conditions; the severity
and duration of the coronavirus outbreak and the impact of the
outbreak (including the government’s response to the outbreak) on
economic and financial markets, potential regulatory actions, and
modifications to our operations, products, and services relating
thereto; disruptions in our and our customers’ operations and loss
of revenue due to pandemics, epidemics, widespread health
emergencies, government-imposed travel/business restrictions, or
outbreaks of infectious diseases such as the coronavirus, and the
associated adverse impact on our financial position, liquidity, and
our customers’ abilities to repay their obligations to us or
willingness to obtain financial services products from the Company;
the development of an interest rate environment that may adversely
affect the Company’s interest rate spread, other income or cash
flow anticipated from the Company’s operations, investment and/or
lending activities; changes in laws and regulations affecting
banks, bank holding companies and/or financial holding companies,
such as the Dodd-Frank Act, Basel III and the Economic Growth,
Regulatory Relief, and Consumer Protection Act; technological
developments and changes; 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; and
financial resources in the amounts, at the times and on the terms
required to support the Company’s future businesses. The Company
does not undertake any obligation to update its forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200401005392/en/
Stephen S. Romaine, President & CEO Bonita N. Lindberg, SVP,
Director of Human Resources Tompkins Financial Corporation (888)
503-5753
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