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Tompkins Financial Corporation2018 Annual Report Bayard Corporate HQ 183 Bayard Lane Princeton, NJ 08540 www.thebankofprinceton.com 609.921.1700 New Jersey Pennsylvania Cheltenham 470 W. Cheltenham Avenue Philadelphia, PA 19126 215.224.6400 North Wales 1222 Welsh Road North Wales, PA 19454 215.631.9911 Chinatown 921 Arch Street Philadelphia, PA 19107 215.923.6200 Chambers 21 Chambers Street Princeton, NJ 08542 609.921.6800 Nassau 194 Nassau Street Princeton, NJ 08542 609.921.3311 Montgomery 1185 Route 206 North Princeton, NJ 08540 609.497.0500 Pennington 2 Route 31 South Pennington, NJ 08534 609.730.8500 Hamilton 339 Route 33 Hamilton, NJ 08619 609.584.0011 Monroe 1 Rossmoor Drive, Ste 120 Monroe Twp, NJ 08831 609.655.7790 Lambertville 10 Bridge Street Lambertville, NJ 08530 609.397.0333 New Brunswick 1 Spring Street, Ste 102 New Brunswick, NJ 08901 732.993.0066 Lawrenceville 2999 Princeton Pike Lawrenceville, NJ 08648 609.882.0500 Cream Ridge 403 Route 539 Cream Ridge, NJ 08514 609.757.1120 Operations Center 403 Wall Street Princeton, NJ 08540 609.454.0116 Table of Contents Letter to the Shareholders......................... i–ii 2017 Form 10-K ................................................1 Who We Are..................................................109 A look back with an eye towards the future. The Bank of Princeton has experienced many changes since its opening in 2007, when it ended its first year with 3 branches and $66.4 million in assets, to its current levels of 14 branches with $1.2 billion in total assets. With an eye towards the future, the expansion of our footprint allows for our community focus to be transported to new markets where our presence also can make a difference. Bank Wisely. Edward J. Dietzler President Chief Executive Officer The Bank’s capital position provides a source of strength to accomplish future organic growth and to explore other growth opportunities. Dear Fellow Shareholders, The Bank of Princeton (the “Bank”) completed another successful year with earnings of $14.7 million, or $2.14 per diluted common share, and total assets reaching $1.2 billion. These results were a part of the Bank’s strategic initiative of increasing shareholder value through controlled prudent growth of the Bank’s earning assets. During 2018, the Bank increased net interest income by 4.8% or $1.9 million compared to 2017, largely due to the $136.9 million increase in the average balance of interest-earning assets such as our loans, which increased by $127.9 million from 2018. The Bank has experienced many changes since its opening in 2007, when it ended its first year with 3 branches and $66.4 million in assets, to its current levels of 14 branches with $1.2 billion in total assets. The Bank continues its success by staying the course with its original core mission of targeting the commercial real estate and small business communities for their lending needs, and catering to the local community by offering competitive rates on deposits and getting substantially involved in the community. The Bank’s capital position provides a source of strength to accomplish future organic growth and to explore other growth opportunities such as the acquisition of five Beneficial Bank branches announced in February of this year. We will continue to concentrate on our markets along the Route 95 corridor from as far north as New York City and south to the extended Philadelphia area. Notable Highlights for 2018 • Net loans increased $111.2 million to exceed $1.0 billion at year-end 2018 and reflected a 11.5% increase year over year. • An exclusive invitation was extended by Nasdaq Global to participate in the closing bell ceremony on August 21, 2018. This special recognition celebrated the first anniversary of “BPRN” being listed on the Nasdaq as a publicly traded company. • In September of 2018, The Bank of Princeton successfully launched a multimedia campaign focusing on “Brand Awareness,” which featured real customers sharing unscripted, candid comments based on their genuine experiences. • The addition of credit cards to our product line provided many new opportunities. The introduction of the mobile deposit feature to The Bank of Princeton’s Mobile App offered additional convenience and flexibility fitting today’s active lifestyles. i • Promotions offered throughout the year attracted new money, new customers, and expanded existing relationships. The Business Money Market promotion yielded additional opportunities that attracted business customers and non-profit organizations. • The first ever cash dividend was paid to The Bank of Princeton shareholders on November 5, 2018. • The Bank of Princeton opened its 14th branch location on December 10, 2018, in Cream Ridge, New Jersey. This new office extended our footprint into the Monmouth and Ocean County markets. • Our 2019 Strategic Plan includes the addition of two new branches; one located in Princeton Junction, New Jersey and the second on Quakerbridge Road in Hamilton, New Jersey. • The Bank entered into an agreement to purchase five bank branches from Beneficial/WSFS Bank on February 4, 2019. This acquisition expands our footprint into Burlington, Gloucester, and Camden Counties. The deal is expected to close in the middle of the 2nd quarter of 2019, subject to customary conditions such as regulatory approval. Delivering superior customer service in harmonious, classic style continues to capture our attention and consideration. Providing a friendly, caring, and personalized banking experience is what differ- entiates us and propels our growth. The expansion of our footprint allows for our community focus to be transported to new markets where our presence also can make a difference. It truly is an exciting time in the evolution of The Bank of Princeton! We remain extremely grateful for the support from our loyal custom- ers, community partners, and shareholders. We are dedicated to work together in collaboration with our directors and management teams enriching the personalized banking experience and maximizing shareholder value. ii Richard Gillespie Chairman of the Board Providing a friendly, caring, and personalized banking experience is what differentiates us and propels our growth. 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Distler Vice Chairman Edward J. Dietzler President Chief Executive Officer Ross E. Wishnick Vice Chairman Judith A. Giacin Robert N. Ridolfi, Esq. Stephen K. Shueh Martin Tuchman 108 109 Who We Are Executive Management Edward J. Dietzler President Chief Executive Officer Daniel J. O’Donnell Executive Vice President Chief Risk Officer & General Counsel George S. Rapp Executive Vice President Chief Financial Officer Christopher M. Tonkovich Executive Vice President Chief Credit Officer Stephanie M. Adkins Executive Vice President Chief Lending Officer Established in 2007, The Bank of Princeton opened its Chambers Street doors for business on the 23rd of April. Since then, the Bank has grown to include eleven branch locations that serve Mercer, Hunterdon, Middlesex, Somerset, Monmouth and Ocean counties in New Jersey along with three branches in the Montgomery County and Philadelphia markets of Pennsylvania. Today, The Bank of Princeton is comprised of fourteen branch locations and a comprehensive Operations Center headquartered in Princeton. Finance Jeffrey T. Hanuscin, VP Edward P. Hassenkamp, VP Commercial Lenders Arthur M. Birenbaum, SVP, Arch Street William McCoy, SVP, New Brunswick Kris Muse, SVP, Nassau Street Paul M. Bencivengo, VP, Hamilton William McDowell, VP, Pennington/Lambertville Michele Lewis Fleming, AVP, Chambers Street Jennifer Yoo, AVP, Cheltenham Market Managers Henrry Polanco, Bayard Lane Darshana Jadav, Chambers Street Paul Sabol, Nassau Street Roseanne Maresma, Montgomery Rhoda Sundhar, Pennington Nedgine Douge, Hamilton Wendy J. Evans, Monroe Amy Zuccarello, Lambertville Miriam Colón, New Brunswick Karin van Garderen, Lawrenceville Jeralyn H. Lang, Cream Ridge Esther Youngsoon Sim, Cheltenham Sera Yu, North Wales Sokha Eng, Arch Street Marketing Barbara A. Cromwell, SVP Human Resources Anna Maria Miller, SVP Retail Administration Debra L. Von Gonten, VP Rose Russo, AVP Information Technology Matthew T. Clark, VP Kyndle E. Alig, AVP Operations, Compliance & Security Karen D. Pfeifer, SVP Vincent Auletta, VP Angela Bancroft, VP Keith R. Bietzel, VP Ronnie Ra, AVP Loan Administration Karen A. Collier, SVP David Geyer, SVP Mary Beth Gorecki, SVP Stephen R. Helhowski, VP Michelle Goldstein, VP Amela Muslic, VP Stanley Plytynski, VP Joseph H. Robotin, VP Lana Tremblay, VP Lukasz Gargas, AVP Eleanor Velasquez, AVP Denise Youn, AVP Incorporators Gregg E. Chaplin Andrew M. Chon Peter M. Crowley Stephen A. Distler Richard Gillespie Bumsung K. Han John A. Horvath Kevin R. Kenyon W. Andrew Krusen, Jr. Janet M. Lasley Emmett J. Lescroart Dennis M. Machulsky Casey K. Min J. Scott Needham Henry S. Opatut Robert N. Ridolfi, Esq. James M. Riley Jeffrey H. Sands Eric L. Steinfeldt Ross E. Wishnick 110 111 “The greatness of a community is most accurately measured by the compassionate actions of its members.” – Coretta Scott King Thank you to our community partners for helping Make a Difference. Advancing Opportunities Alzheimer’s New Jersey American Foundation for Suicide Prevention Daytop New Jersey at Crawford House Hamilton Educational Foundation Delaware River Steamboat Hamilton Township Economic Floating Classroom, Inc.: SPLASH Development Commission Delaware River Towns Chamber Borough of Highland Park: American Heart Association of Commerce & Visitors Bureau, The Highland Park Gives a Hoot American Repertory Ballet: Delaware Township Schools, DANCE POWER Partners in Education HiTOPS, Inc. HomeFront Arc of Hunterdon County, The Development Corporation for Israel HomeSharing, Inc. Arts Council of Princeton DoughMain Financial Literacy Foundation Hopewell Harvest Fair Ben Franklin Elementary School Dress for Success Hopewell Valley Arts Council Big Brothers Big Sisters of Mercer County Central New Jersey - 7 Counties Hopewell Valley Education Foundation Eden Autism Services Foundation Hopewell Valley Veterans Association Bridge Academy of New Jersey, The Elijah’s Promise Hopewell Valley YMCA Capital Health Foundation Fal-Rooney Sports Camps & Events Hunterdon County Chamber of Commerce Capital Region Minority Chamber of Commerce CASA of New Jersey Friendly Sons & Daughters of Hunterdon County YMCA St. Patrick of Mercer County, The I Believe in Pink Friends of Ely Park Isles, Inc. Catholic Charities, Diocese of Trenton Friends of Hopewell Valley Open Space Jason Fuhr Memorial Charity Center for Educational Advancement Friends of Princeton Charter School Golf Tournament & Scholarship Fund Chapin School Gift of Life Donor Program Jewish Center of Princeton, The Children’s Home Society Good Grief Jewish Family & Children’s Service of New Jersey, The Greater Philadelphia Asian of Greater Mercer County Christine’s Hope for Kids Foundation Social Services Center Joint Effort: Communiversity Corner House Foundation Cranbury Lions Club Greater Philadelphia Food Bank Princeton Safe Streets Weekend Grice Middle School Grounds for Sculpture Kalmia Club, The Kidsbridge Korean American Association Music & Theatre Parents Association of Princeton University of Greater Philadelphia Hopewell Valley Central High School Summer Chamber Concerts Korean Community Center National Association for Korean Schools: Puerto Rican Action Board of Greater Princeton Mid-Atlantic Chapter Robert Wood Johnson Korean Senior Golf Association National Eating Disorders Association Hamilton Foundation Korean United Church of Philadelphia National Junior Tennis & Learning Rocky Hill Fire Department Lambertville / New Hope Winter Festival of Trenton Ryan’s Quest Lambertville Area Education Foundation New Brunswick City Center SAFE in Hunterdon Lambertville Historical Society New Brunswick Domestic Violence San Felese Lodge Lambertville-West Amwell Response Team Send Hunger Packing Princeton Youth Baseball & Softball Association New Hope Film Festival SERV Behavioral Health Systems LaShir Lawrence Township New Hope Historical Society New Jersey Association of Shad Festival Shad Run Lawrence Township Education Foundation Community Providers Society of Saint Vincent de Paul Lawrenceville Main Street Notre Dame High School Solebury Township Historical Society Lawrenceville School Camps, The Om Parikh Memorial Fund Sourland Conservancy Manna on Main Street Parents Anonymous of New Jersey, Inc. Special Olympics NJ Mary Jacobs Library Foundation Parkinson Alliance, The Spectrum for Living Meals on Wheels of Mercer County Paul Robeson House, The Steinert School Fund: DECA Mercer Council on Alcoholism PEI Kids Thomas Edison State & Drug Addiction Mercer County CYO Pennington Business & University Foundation Professional Association Town Clock Community Mercer County Hispanic Association Pennington Day, Inc. Development Corporation Mercer County Turkey Trot Pennington Montessori School Trenton Catholic Academy Monroe Indians for Civil Action People & Stories / Gente y Cuentos Trenton Circus Squad Middlesex County Regional Philabundance Trenton Educational Dance Institute Chamber of Commerce Philadelphia Museum of Art: Trinity Church MidJersey Chamber of Commerce Young Friends United Way of Hunterdon County Mid-Summer Marketing Showcase Plainsboro Township Unity Square: Trunk or Treat Mil Al Mission Police Unity Tour Inc.: Chapter 10 Way of the Cross Montgomery / Rocky Hill Rotary Club Princeton Area Alumni Association Widener University Montgomery Baseball League Princeton Battlefield Society, The Womanspace Montgomery Basketball League Princeton Education Foundation Women Aware Montgomery Business Association Princeton Family YMCA Montgomery High School: Princeton Historical Society YMCA of Trenton YWCA Princeton Cougar Football Club Princeton Independent Film Festival Montgomery Township Economic Princeton Little League Development Commission Princeton Merchants Association Montgomery Township Education Princeton Nursery School Foundation Montgomery Township Fireworks Committee Princeton Pro Musica Princeton Public Library Princeton Recreation Department Montgomery Woman’s Club Princeton Regional Chamber of Commerce Mount Carmel Guild of Trenton Princeton Senior Resource Center Mount Olive Baptist Church Princeton Symphony Orchestra 112 113
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