Tompkins Trustco Inc., a three-bank holding company in Ithaca, N.Y., said Wednesday that net income in the third quarter was up 9.8% from a year earlier, to $6.8 million.
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On a per-share basis, earnings rose 9.3%, to 82 cents.
Chairman and chief executive James J. Burn said the $2 billion-asset company's performance was driven by growth in loans, deposits, and a 19.4% increase in fee income, including insurance commissions and service charges on deposit accounts.
The company said noninterest expenses rose 8.5%, to $14. 4 million, largely because of compliance costs and higher compensation and benefits-related expenses.
