Tompkins Financial (TMP) 8-K Results of Operations and Financial Condition

Exhibit 99.1

For more information contact:

Stephen S. Romaine, President & CEO

Francis M. Fetsko, CFO

Tompkins Financial Corporation 607.273.3210

For Immediate Release
Wednesday, July 22, 2009

Tompkins Financial Corporation reports increase in second quarter earnings

ITHACA, NY – Tompkins Financial Corporation (TMP–NYSE Amex)

Tompkins Financial Corporation reported net income of $7.4 million for the second quarter of 2009, compared to $7.1 million reported for the same period in 2008. Diluted earnings per share were $0.76 for the second quarter of 2009, compared to diluted earnings per share of $0.73 for the second quarter of 2008. On a reported basis, diluted earnings per share were up 4.1% in the second quarter of 2009, when compared to the same quarter last year, even though 2009 results included $1.4 million of expense ($0.08 per diluted share) related to the FDIC’s special deposit insurance assessment. If the FDIC special assessment were excluded from 2009 results, second quarter earnings per share would have shown an increase of 16.4% over the second quarter of 2008.

For the six months ended June 30, 2009, net income was $15.2 million compared to $14.6 million for the same period prior year. Diluted earnings per share totaled $1.55 for the first six months of 2009, an increase of 3.3% over the $1.50 reported for the same period in 2008. 2009 year to date results were negatively impacted by the previously mentioned FDIC special assessment, while 2008 year to date results were favorably impacted by $1.6 million ($0.10 per diluted share) of non-recurring pre-tax revenue related to the VISA IPO in the first quarter of 2008. Growth in diluted earnings per share for the first six months of 2009 would have been 16.4% over the prior year if the FDIC special assessment were excluded from 2009 results and the gain from the VISA IPO were excluded from 2008 results.

Stephen S. Romaine, President and CEO stated, “Considering the significantly higher FDIC premiums in 2009, we are pleased to have achieved growth over comparable periods in 2008. We continued to see strong growth in net interest income over 2008, driven by an improved net interest margin and growth in average earning assets. We also successfully raised $18.6 million of capital through a Trust Preferred securities offering during the second quarter of 2009. This was accomplished in a difficult market environment and our financial strength allowed us to raise this capital at an after tax rate that is less expensive than government TARP.”

Some highlights for the quarter and year-to-date period included:

· Net interest income for the second quarter of 2009 was $26.5 million, up 21.2% from the same quarter last year, and up 2.5% over the first quarter of 2009. Net interest income for the year-to-date period ended June 30, 2009 was $52.4 million, an increase of 26.0% over the same period prior year.

· The net interest margin for the second quarter of 2009 was 3.93% compared to 3.77% for the second quarter of 2008, and 3.97% for the first quarter of 2009.

· Noninterest income for the second quarter of 2009 was $11.5 million, compared to $11.6 million for the second quarter of 2008. Year-to-date June 30, 2009 noninterest income of $22.5 million was down 7.4% from the comparable year ago period. The decrease is due to $1.6 million in non-recurring income related to the VISA IPO in the first quarter of 2008, as well as lower revenue from investment services activities in 2009, reflecting difficult stock market conditions.

· Noninterest expense for the second quarter of 2009 of $24.7 million was up 13.4% over the same period prior year. FDIC insurance expense totaled $2.2 million in the second quarter of 2009 compared to $141,000 in the second quarter of 2008. The increase includes the special assessment of $1.4 million, as well as higher insurance premium rates in 2009.

· Total loans were $1.8 billion at June 30, 2009, up 11.4% from June 30, 2008, and remaining relatively flat from December 31, 2008.

· Nonperforming assets represented 0.87% of total assets at June 30, 2009, compared to 0.56% at December 31, 2008, and 0.47% at June 30, 2008. The Company’s allowance for loan and lease losses totaled $21.3 million at June 30, 2009, which represented 1.16% of total loans, an increase of 13 basis points from a ratio of 1.03% at year-end 2008.

· During the quarter the Company raised $18.6 million of capital through a Trust Preferred securities offering.

2

Total assets were $3.0 billion at June 30, 2009, up $262.9 million or 9.7% from $2.7 billion at June 30, 2008. Total loans were $1.8 billion at June 30, 2009, representing an 11.4% increase from the prior year. Total deposits at June 30, 2009, were $2.3 billion, up 11.3% from June 30, 2008.

Growth in average earning assets and deposits has contributed to the increase in net interest income in 2009. Net interest income of $26.5 million in the second quarter of 2009 was up 21.2% over the same period in 2008. This represented our 9^th consecutive quarter of increased net interest income. Net interest income also benefited from an improved net interest margin, which was 3.93% in the second quarter of 2009, compared to 3.77% in the second quarter of 2008, resulting from lower funding costs.

The provision for loan and lease losses increased to $2.4 million in the second quarter of 2009, compared to $1.2 million in the second quarter of 2008. For the first six months of 2009, the provision for loan and lease losses totaled $4.4 million, up from $1.8 million for the same period in 2008. An increase in net charge-offs and nonperforming assets and general economic conditions all contributed to the increased provision expense for the quarter. Mr. Romaine commented, “Weak economic conditions continue to be a challenge to our Company and our customers. Although we have seen some deterioration in asset quality, our levels of nonperforming assets and net charge-offs remain significantly below national averages. We have committed additional resources to monitoring the credit portfolio, which gives us further confidence in our ability to manage the current stress in the portfolio. A continuation or worsening of the current economic situation may result in further declines in asset quality measures and increase in loan losses.”

Annualized net charge-offs for the three months ended June 30, 2009, represented 0.23% of average loans (up from 0.18% for the full year in 2008), which compares to a Federal Reserve Board peer group¹ ratio of 0.74%. Nonperforming assets represented 0.87% of total assets as of June 30, 2009 (up from 0.56% at December 31, 2008, and 0.47% at June 30, 2008), which compares to a Federal Reserve Board peer group¹ratio of 2.63%. The Company’s allowance for loan and lease losses totaled $21.3 million at June 30, 2009, which represented 1.16% of total loans, an increase of 13 basis points from a ratio of 1.03% at year-end 2008.

¹ Federal Reserve peer ratio as of March 31, 2009, includes banks and bank holding companies with consolidated assets between $1 billion and $3 billion.

3

Noninterest income for the second quarter of 2009 was $11.5 million, which is in line with the same period in 2008. Year-to-date 2009 noninterest income was $22.5 million, a decrease of 7.4% compared to the same period in 2008. The current weak economic climate has contributed to the declining trends in noninterest income categories, including investment services fees and service charges on deposit accounts, which were both down from the same quarter and year-to-date periods last year. As previously mentioned, year-to-date 2008 noninterest income included nonrecurring income of $1.6 million related to the VISA IPO.

Noninterest expenses for the second quarter 2009 were $24.7 million, up 13.4% from the same period last year. For the year to date period, noninterest expenses were $48.0 million, an increase of 13.8% over the same period in 2008. The increase was largely in the salary and wages and occupancy expense categories and other noninterest expense. The salary and wages and occupancy expenses were directly impacted by the May 2008 Sleepy Hollow acquisition with the addition of five staffed branches. FDIC insurance expense, included in other noninterest expense, totaled $2.2 million in the second quarter of 2009 compared to $141,000 in the second quarter of 2008, reflecting the special assessment of $1.4 million as well as higher insurance premium rates in 2009.

Mr. Romaine concluded, “While we are pleased with our performance in 2009; weak economic conditions, high unemployment rates, state budget deficits, volatile interest rates, and uncertain stock market conditions, will continue to be a challenge. By remaining committed to long-term results, building diversified revenue sources, and providing high quality financial solutions to our clients, Tompkins is positioned to perform well in these challenging times.”

Tompkins Financial Corporation operates 45 banking offices in the New York State markets served by the Company’s subsidiary banks - Tompkins Trust Company, The Bank of Castile, and Mahopac National Bank. Through its community banking subsidiaries, the Company provides traditional banking services, and offers a full range of money management services through Tompkins Investment Services (a division of Tompkins Trust Company). The Company offers insurance services through its Tompkins Insurance Agencies, Inc. subsidiary, an independent agency serving individuals and business clients throughout New York State. The Company offers fee-based financial planning and wealth management services through its AM&M Financial Services, Inc. subsidiary. AM&M Financial Services, Inc. is also the parent company to Ensemble Financial Services, Inc., an independent broker dealer and leading outsourcing company for financial planners and investment advisors. Each Tompkins subsidiary operates with a community focus, meeting the unique needs of the communities served.

4

“Safe Harbor” Statement under the Private Securities Litigation Reform of 1995:

This press release may include forward-looking statements with respect to revenue sources, growth, market risk, and corporate objectives. The Company assumes no duty, and specifically disclaims any obligation, to update forward-looking statements, and cautions that these statements are subject to numerous assumptions, risks, and uncertainties, all of which could change over time. Actual results could differ materially from forward-looking statements.

5

Tompkins Financial Corporation –Condensed Consolidated Statements of Condition (Unaudited)

(In thousands, except share data)

	As of			As of
	06/30/2009			12/31/2008
ASSETS
Cash and noninterest bearing balances due from banks	$	53,914		$	48,133
Interest bearing balances due from banks		7,271			4,116
Federal funds sold		6,800			0
Trading securities, at fair value		34,599			38,101
Available-for-sale securities, at fair value		845,909			764,193
Held-to-maturity securities, fair value of $44,301 at June 30, 2009, and $55,064 at December 31, 2008		43,250			54,453
Loans and leases, net of unearned income and deferred costs and fees		1,841,198			1,817,531
Less: Allowance for loan and lease losses		21,319			18,672
Net Loans and Leases		1,819,879			1,798,859
Bank premises and equipment, net		45,298			46,613
Corporate owned life insurance		35,247			34,804
Goodwill		41,529			41,479
Other intangible assets, net		5,252			5,299
Accrued interest and other assets		29,109			31,672
Total Assets	$	2,968,057		$	2,867,722
LIABILITIES
Deposits:
Interest bearing:
Checking, savings and money market	$	1,084,729		$	980,011
Time		767,278			703,107
Noninterest bearing		436,802			450,889
Total Deposits		2,288,809			2,134,007
Federal funds purchased and securities sold under agreements to repurchase, fair value of $16,042 at June 30, 2009 and $16,170 at December 31, 2008		189,993			196,304
Other borrowings, fair value of $11,619 at June 30, 2009 and $12,179 at December 31, 2008		194,754			274,791
Trust preferred debentures		23,017			3,888
Other liabilities		42,176			39,371
Total Liabilities		2,738,749			2,648,361
EQUITY
Tompkins Financial Corporation shareholders’ equity:
Common Stock - par value $.10 per share: Authorized 25,000,000 shares; Issued: 9,753,086 at June 30, 2009; and 9,727,418 at December 31, 2008		975			973
Additional paid-in capital		154,158			152,842
Retained earnings		82,339			73,779
Accumulated other comprehensive loss		(7,517	)		(7,602	)
Treasury stock, at cost – 78,001 shares at June 30, 2009, and 76,881 shares at December 31, 2008		(2,164	)		(2,083	)
Total Tompkins Financial Corporation Shareholders’ Equity		227,791			217,909
Noncontrolling interest		1,517			1,452
Total Equity	$	229,308		$	219,361
Total Liabilities and Equity	$	2,968,057		$	2,867,722

6

Tompkins Financial Corporation – Condensed Consolidated Statements of Income (Unaudited)

(In thousands, except per share data) (Unaudited)	Three months ended					Six months ended
	06/30/2009		06/30/2008			06/30/2009		06/30/2008
INTEREST AND DIVIDEND INCOME
Loans	$	26,499	$	25,023		$	53,176	$	49,285
Due from banks		4		22			12		110
Federal funds sold		4		55			8		75
Trading securities		345		467			707		1,093
Available-for-sale securities		9,224		8,481			17,920		16,554
Held-to-maturity securities		483		459			986		933
Total Interest and Dividend Income		36,559		34,507			72,809		68,050
INTEREST EXPENSE
Deposits:
Time certificates of deposits of $100,000 or more		1,314		2,289			2,805		5,087
Other deposits		4,827		6,392			9,960		13,553
Federal funds purchased and securities sold under agreements to repurchase		1,564		1,987			3,129		4,024
Other borrowings		2,345		1,972			4,556		3,837
Total Interest Expense		10,050		12,640			20,450		26,501
Net Interest Income		26,509		21,867			52,359		41,549
Less: Provision for loan/lease losses		2,367		1,183			4,403		1,808
Net Interest Income After Provision for Loan/Lease Losses		24,142		20,684			47,956		39,741
NONINTEREST INCOME
Investment services income		3,337		3,567			6,539		7,236
Insurance commissions and fees		3,120		2,936			6,239		5,726
Service charges on deposit accounts		2,271		2,467			4,491		4,992
Card services income		933		973			1,723		1,769
Other service charges		347		584			793		1,336
Mark-to-market gain (loss) on trading securities		40		(670	)		98		(376	)
Mark-to-market gain on liabilities held at fair value		432		889			688		41
Increase in cash surrender value of corporate owned life insurance		204		352			426		689
Gains on sale of loans		566		45			967		42
Gain on VISA stock redemption		0		0			0		1,639
Other income		269		293			481		762
Net gain (loss) on sale of available-for-sale securities		19		159			26		406
Total Noninterest Income		11,538		11,595			22,471		24,262
NONINTEREST EXPENSES
Salary and wages		10,069		9,776			19,597		19,145
Pension and other employee benefits		3,360		2,496			6,746		5,191
Net occupancy expense of bank premises		1,774		1,747			3,793		3,367
Furniture and fixture expense		1,128		1,153			2,239		2,077
Marketing expense		971		1,143			1,822		1,921
Professional fees		740		778			1,607		1,407
Software licenses and maintenance		764		780			1,546		1,387
Cardholder expense		494		219			739		513
Amortization of intangible assets		235		213			484		361
Other operating expense		5,139		3,452			9,390		6,769
Total Noninterest Expenses		24,674		21,757			47,963		42,138
Income Before Income Tax Expense		11,006		10,522			22,464		21,865
Income Tax Expense		3,526		3,288			7,242		7,091
Net Income attributable to Noncontrolling Interests and Tompkins Financial Corporation		7,480		7,234			15,222		14,774
Less: Net income attributable to noncontrolling interest		33		115			65		147
Net Income Attributable to Tompkins Financial Corporation	$	7,447	$	7,119		$	15,157	$	14,627
Basic Earnings Per Share	$	0.77	$	0.74		$	1.56	$	1.52
Diluted Earnings Per Share	$	0.76	$	0.73		$	1.55	$	1.50

7

Tompkins Financial Corporation – Average Consolidated Balance Sheet and Net Interest Analysis (Unaudited)

	Quarter Ended June-09								Year to Date Period Ended June-09								Year to Date Period Ended June-08
(Dollar amounts in thousands)	Average Balance (QTD)		Interest			Average Yield/Rate			Average Balance (YTD)		Interest			Average Yield/Rate			Average Balance (YTD)		Interest			Average Yield/Rate
ASSETS
Interest-earning assets
Interest-bearing balances due from banks	$	8,687	$	4			0.18	%	$	8,993	$	12			0.27	%	$	8,240	$	104			2.54	%
Securities (1)
U.S. Government Securities		725,858		8,067			4.46	%		699,503		15,847			4.57	%		588,911		14,101			4.82	%
Trading Securities		35,952		346			3.86	%		36,725		707			3.88	%		47,897		1,093			4.59	%
State and municipal (2)		114,189		1,734			6.09	%		115,703		3,500			6.10	%		105,054		3,187			6.10	%
Other Securities (2)		58,777		572			3.90	%		58,702		901			3.10	%		54,111		1,391			5.17	%
Total securities		934,776		10,719			4.60	%		910,633		20,955			4.64	%		795,973		19,772			5.00	%
Federal Funds Sold		8,905		4			0.18	%		8,727		8			0.18	%		10,521		75			1.43	%
Loans, net of unearned income (3)
Real Estate		1,266,398		18,665			5.91	%		1,264,018		37,583			6.00	%		1,028,815		33,610			6.57	%
Commercial Loans (2)		459,550		6,212			5.42	%		453,652		12,335			5.48	%		380,100		12,547			6.64	%
Consumer Loans		86,720		1,486			6.87	%		87,184		2,993			6.92	%		82,892		3,005			7.29	%
Direct Lease Financing		13,389		207			6.20	%		13,453		408			6.12	%		14,461		413			5.74	%
Total loans, net of unearned income		1,826,057		26,570			5.84	%		1,818,307		53,319			5.91	%		1,506,268		49,575			6.62	%
Total interest-earning assets		2,778,425		37,297			5.38	%		2,746,660		74,294			5.45	%		2,321,002		69,526			6.02	%
Other assets		203,652								204,124								182,996
Total assets	$	2,982,077							$	2,950,784							$	2,503,998
LIABILITIES & EQUITY
Deposits
Interest-bearing deposits
Interest bearing checking, savings, & money market		1,131,756		2,207			0.78	%		1,108,743		4,573			0.83	%		863,407		6,782			1.58	%
Time Dep > $100,000		291,106		1,314			1.81	%		283,789		2,805			1.99	%		273,347		5,087			3.74	%
Time Dep < $100,000		423,300		2,417			2.29	%		420,595		4,943			2.37	%		357,979		6,711			3.77	%
Brokered Time Dep < $100,000		43,273		203			1.88	%		42,982		444			2.08	%		3,564		60			3.39	%
Total interest-bearing deposits		1,889,435		6,141			1.30	%		1,856,109		12,765			1.39	%		1,498,297		18,640			2.50	%
Federal funds purchased & securities sold under agreements to repurchase		184,847		1,564			3.39	%		186,516		3,129			3.38	%		210,004		4,024			3.85	%
Other borrowings		202,509		2,020			4.00	%		213,780		4,178			3.94	%		166,823		3,801			4.62	%
Trust preferred debentures		18,663		325			6.98	%		11,318		378			6.73	%		1,200		36			6.03	%
Total interest-bearing liabilities		2,295,454		10,050			1.76	%		2,267,723		20,450			1.82	%		1,876,324		26,501			3.49	%
Noninterest bearing deposits		418,288								418,110								383,580
Accrued expenses and other liabilities		38,218								38,394								35,642
Total liabilities		2,751,960								2,724,227								2,295,546
Tompkins Financial Corporation Shareholders’ equity		228,616								225,073								205,799
Noncontrolling interest		1,501								1,484								2,653
Total equity		230,117								226,557								208,452
Total liabilities and equity	$	2,982,077							$	2,950,784							$	2,503,998
Interest rate spread							3.62	%							3.63	%							3.18	%
Net interest income/margin on earning assets			$	27,247			3.93	%			$	53,844			3.95	%			$	43,025			3.73	%
Tax Equivalent Adjustment				(738	)							(1,485	)							(1,476	)
Net interest income per consolidated financial statements			$	26,509							$	52,359							$	41,549

(1)	Average balances and yields on available-for-sale securities are based on historical amortized cost.
(2)	Interest income includes the tax effects of taxable-equivalent adjustments using a combined New York State and Federal effective income tax rate of 40% to increase tax exempt interest income to taxable-equivalent basis.
(3)	Nonaccrual loans are included in the average asset totals presented above. Payments received on nonaccrual loans have been recognized as disclosed in Note 1 of the consolidated financial statements.

8

Tompkins Financial Corporation – Summary Financial Data (Unaudited)

(In thousands, except share and per share data)	Quarter-Ended										Year-Ended
	June-09		Mar-09		Dec-08		Sept-08		June-08		Dec-08
Period End Balance Sheet
Securities	$	923,758	$	989,914	$	856,747	$	800,398	$	839,976	$	856,747
Loans and leases, net of unearned income and deferred costs and fees		1,841,198		1,811,792		1,817,531		1,718,378		1,652,831		1,817,531
Allowance for loan and lease losses		21,319		19,980		18,672		17,306		16,835		18,672
Total assets		2,968,057		2,993,312		2,867,722		2,725,014		2,705,196		2,867,722
Total deposits		2,288,809		2,335,937		2,134,007		2,094,647		2,057,244		2,134,007
Federal funds purchased and securities sold under agreements to repurchase		189,993		182,744		196,304		190,299		203,687		196,304
Other borrowings		194,754		206,056		274,791		185,067		192,638		274,791
Total equity		229,308		227,385		219,361		218,706		209,337		219,361
Average Balance Sheet
Average earning assets	$	2,778,425	$	2,714,669	$	2,613,324	$	2,512,077	$	2,408,901	$	2,442,502
Average assets		2,982,077		2,919,146		2,813,158		2,708,126		2,602,914		2,633,020
Average interest-bearing liabilities		2,295,454		2,235,793		2,119,357		2,034,353		1,953,254		1,976,963
Average equity		230,117		222,957		214,838		211,361		212,482		210,785
Share data
Weighted average shares outstanding (basic)		9,708,835		9,701,539		9,683,177		9,668,256		9,650,917		9,651,341
Weighted average shares outstanding (diluted)		9,785,267		9,779,003		9,780,358		9,752,250		9,747,914		9,744,402
Period-end shares outstanding		9,720,440		9,699,828		9,694,772		9,671,379		9,662,547		9,694,772
Book value per share	$	23.43	$	23.44	$	22.63	$	22.61	$	21.66	$	22.63
Income Statement
Net interest income	$	26,509	$	25,851	$	24,803	$	24,038	$	21,867	$	90,390
Provision for loan/lease losses		2,367		2,036		2,105		1,515		1,183		5,428
Noninterest income		11,538		10,933		10,331		11,442		11,595		46,035
Noninterest expenses		24,674		23,289		22,728		22,190		21,757		87,056
Income tax expense		3,526		3,716		2,995		3,725		3,288		13,810
Net income		7,447		7,710		7,274		7,933		7,119		29,834
Noncontrolling interest		33		33		32		117		115		297
Basic earnings per share	$	0.77	$	0.79	$	0.75	$	0.82	$	0.74	$	3.09
Diluted earnings per share	$	0.76	$	0.79	$	0.74	$	0.81	$	0.73	$	3.06
Asset Quality
Net charge-offs	$	1,028	$	728	$	739	$	1,043	$	615	$	2,848
Nonaccrual loans and leases		24,662		15,479		15,798		12,463		10,552		15,798
Loans and leases 90 days past due and accruing		1,073		676		161		0		1,422		161
Troubled debt restructurings not included above		0		0		69		132		135		69
Total nonperforming loans and leases		25,735		16,155		16,028		12,595		12,109		16,028
OREO		68		103		110		526		481		110
Nonperforming assets		25,803		16,258		16,138		13,121		12,590		16,138

9

Tompkins Financial Corporation – Summary Financial Data (Unaudited)

	Quarter-Ended															Year-Ended
	June-09			Mar-09			Dec-08			Sept-08			June-08			Dec-08
Credit Quality
Net loan and lease losses/ average loans and leases *		0.23	%		0.16	%		0.17	%		0.25	%		0.16	%		0.18	%
Nonperforming loans and leases/loans and leases		1.40	%		0.89	%		0.88	%		0.73	%		0.73	%		0.88	%
Nonperforming assets/assets		0.87	%		0.54	%		0.56	%		0.48	%		0.47	%		0.56	%
Allowance/nonperforming loans and leases		82.84	%		123.68	%		116.50	%		137.40	%		139.03	%		116.50	%
Allowance/loans and leases		1.16	%		1.10	%		1.03	%		1.01	%		1.02	%		1.03	%
Capital Adequacy (period-end)
Tier I capital / average assets		7.4	%		6.7	%		6.7	%		7.0	%		7.1	%		6.7	%
Total capital / risk-weighted assets		11.9	%		10.8	%		10.6	%		10.9	%		11.1	%		10.6	%
Profitability
Return on average assets *		1.00	%		1.07	%		1.03	%		1.17	%		1.10	%		1.13	%
Return on average equity *		12.98	%		14.02	%		13.47	%		14.93	%		13.48	%		13.89	%
Net interest margin (TE) *		3.93	%		3.97	%		3.89	%		3.92	%		3.77	%		3.81	%
* Quarterly ratios have been annualized
	Quarter-ended															Year-Ended
Non-GAAP Disclosure	June-09			Mar-09			Dec-08			Sept-08			June-08			Dec-08
Reported net income	$	7,447		$	7,710		$	7,274		$	7,933		$	7,119		$	29,834
Adjustments:
Proceeds and accrual adjustment from VISA IPO (after-tax)		0			0			0			0			0			(983	)
FDIC special insurance assessment (after-tax)		822			0			0			0			0			0
Subtotal adjustments		822			0			0			0			0			(983	)
Adjusted net income	$	8,269		$	7,710		$	7,274		$	7,933		$	7,119		$	28,851
Weighted average shares outstanding (diluted)		9,785,267			9,779,003			9,780,358			9,752,250			9,747,914			9,744,402
Adjusted diluted earnings per share	$	.85		$	.79		$	.74		$	.81		$	.73		$	2.96
	Year-to-date period ended
Non-GAAP Disclosure	June-09			June-08
Reported net income	$	15,157			14,627
Adjustments:
Proceeds and accrual adjustment from VISA IPO (after-tax)		0			(983	)
FDIC special insurance assessment (after-tax)		822
Subtotal adjustments		822			(983	)
Adjusted net income	$	15,979			13,644
Weighted average shares outstanding (diluted)		9,782,155			9,722,233
Adjusted diluted earnings per share	$	1.63			1.40

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