tmp-20260623

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FOR ANNUAL REPORTS OF EMPLOYEE STOCK

PURCHASE, SAVINGS AND SIMILAR PLANS

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

FORM 11-K

[X] ANNUAL REPORT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the Fiscal year ended: December 31, 2025

[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____ to ____

Commission File Number: 1-12709

TOMPKINS RETIREMENT SAVINGS PLAN


(Full title of Plan)

TOMPKINS FINANCIAL CORPORATION

(Name of issuer of the securities held pursuant to the Plan)

118 E. Seneca Street, P.O. Box 460,

Ithaca, New York 14851

(888) 503-5753

(Address of principal executive offices)


CONTENTS

AUDITED FINANCIAL STATEMENTS			PAGE

Report of Independent Registered Public Accounting Firm			3-4

Statements of Net Assets Available for Benefits			5

Statements of Changes in Net Assets Available for Benefits			6

Notes to Financial Statements			7-12


SUPPLEMENTAL SCHEDULE

Form 5500 - Schedule H - Part IV:

Item 4i - Schedule of Assets Held for Investment Purposes at End of Year - December 31, 202 5			14-15

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Plan Administrator and Participants

Tompkins Retirement Savings Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Tompkins Retirement Savings Plan (the “Plan”) as of December 31, 2025 and 2024, the related statements of changes in net assets available for benefits for the years then ended, and the related notes and schedules (collectively, the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

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Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental information in the accompanying Schedule of Assets Held for Investment Purposes at End of Year – December 31, 2025 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Plan’s auditor since 2006.

Elmira, New York

June 23, 2026

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TOMPKINS RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS


	December 31,
	2025		2024
ASSETS
Investments, at fair value:
Tompkins Financial Corporation common stock	$	8,256,435	$	9,202,840
Collective investment trusts	4,868,421		5,649,325
Mutual funds	218,080,285		199,169,466
TOTAL INVESTMENTS	231,205,141		214,021,631

Receivables:
Notes receivable from participants	2,364,044		2,740,751
Participant contributions	34		—
Employer contributions	3,934,734		3,945,459
TOTAL RECEIVABLES	6,298,812		6,686,210

NET ASSETS AVAILABLE
FOR BENEFITS	$	237,503,953	$	220,707,841

The accompanying notes are an integral part of the financial statements.

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TOMPKINS RETIREMENT SAVINGS PLAN

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS


	Year Ended December 31,
	2025		2024
ADDITIONS
Additions to net assets attributed to:
Investment income:
Interest and dividends	$	3,916,112	$	4,223,089
Net appreciation in fair value of investments	30,719,430		20,420,233
	34,635,542		24,643,322

Interest income on notes receivable from participants	214,618		199,490

Contributions:
Employer	7,392,468		7,319,703
Participant	7,955,722		7,755,196
Rollover	2,423,620		2,244,887
	17,771,810		17,319,786
TOTAL ADDITIONS	52,621,970		42,162,598
DEDUCTIONS
Deductions from net assets attributed to:

Benefits paid to participants	35,797,107		28,529,915
Administrative expenses	204,538		211,099
TOTAL DEDUCTIONS	36,001,645		28,741,014

NET INCREASE	16,620,325		13,421,584
Net assets available for benefits
at beginning of year	220,707,841		207,086,173

Transfer from Tompkins Financial Corporation
Employee Stock Ownership Plan	175,787		200,084
NET ASSETS AVAILABLE FOR BENEFITS
AT END OF YEAR	$	237,503,953	$	220,707,841

The accompanying notes are an integral part of the financial statements.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE A: DESCRIPTION OF PLAN

The following description of the Tompkins Retirement Savings Plan formerly known as Tompkins Financial Corporation Investment and Stock Ownership Plan (the “Plan”) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions.

General

The Plan is a defined contribution plan covering eligible employees who have met certain age and service requirements. The Plan is administered by the Retirement Plan Management Committee (“RPMC”) and Compensation Committee appointed by Tompkins Financial Corporation’s Board of Directors, and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”). All investments of the Plan are participant directed.

Delaware Charter Guarantee & Trust Company d/b/a Principal Trust Company (Principal) is the trustee and custodian of the Plan. Principal Life Insurance Company is the recordkeeper for the Plan.

Eligibility

All employees are eligible to begin voluntary contributions, with Full and Part-time employees eligible to receive matching and additional employer contributions on the first day of the month immediately following or coinciding with attaining the age of twenty-one. Full and Part-time employees hired prior to July 1, 2023 are eligible for discretionary contributions on the first day of the month immediately following or coinciding with completing one year of credited service and attaining the age of twenty-one.

Vesting

A participant is immediately vested in all elective contributions, certain discretionary contributions, and earnings thereon. A participant is 100% vested in the matching, additional employer contributions, and certain discretionary contributions after three years of service.

Contributions

Participants may contribute their entire eligible compensation, as defined, subject to certain Internal Revenue Service limitations. Participants who have attained age 50 before end of year are eligible to make catch-up contributions. Participants who have attained ages 60 through 63 before end of year are eligible to make additional catch-up contributions.Participants may also contribute amounts representing rollover distributions from other qualified defined benefit or defined contribution plans. The Plan includes an auto-enrollment provision whereby all new eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions invested in a designated Target-Date fund until changed by the participant. The pre-tax contribution of an employee who is contributing less than 10% of eligible compensation, will automatically increase annually by 1% increments up to a maximum of 10% of eligible compensation, provided the employee has not elected to opt-out of the automatic increase feature. The Plan sponsor matching contributions are equal to 100% of the first 2% of elective deferral as well as an additional contribution equal to 2% of eligible compensation.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE A: DESCRIPTION OF PLAN, Cont’d

Contributions, Cont’d

The Plan sponsor contributes discretionary amounts, which range from 3% to 7% of eligible compensation for nine separate employee classifications based on age and years of service. Eligible employees will also receive an increase to their nonelective contribution based on a factor determined by age and years of service as of August 1, 2015.

Notes receivable from participants

Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum of $50,000, but no more than 50% of the participant’s vested account balance. The loans are secured by the balance of the participant’s account and bear interest at the bank prime rate plus 1% as declared quarterly. Principal and interest is paid through payroll deductions over a term of one to five years, except loans used to purchase a participant’s principal residence which may exceed five years.

Diversification and transfers

Under the Tompkins Financial Corporation Employee Stock Ownership Plan document, participants meeting certain age and service requirements may elect to diversify the eligible portion of the Company stock held in their account. The funds elected to be diversified are transferred to the Plan and invested into funds as chosen by the participant. During 2025 and 2024, participants transferred $175,787 and $200,084, respectively.

Participants’ accounts

Each participant’s account is credited with the participant’s contributions and Company matching and nonelective contributions as well as allocations of the Company’s discretionary contributions and plan earnings. Allocations of company contributions are based upon the participant’s compensation and the allocations of Plan earnings are based upon participant account balances. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Payment of benefits

The Plan provides for normal retirement benefits upon reaching the age of 65 and has provisions for early retirement, disability, death, hardship, in-service and termination benefits for those participants who are eligible to receive such benefits. A participant may receive the value of the vested interest in his or her account as a lump-sum distribution or in installments.

Forfeited accounts

Forfeitures of terminated participants’ non-vested accounts are used to reduce employer contributions or to pay Plan expenses. Forfeitures used to reduce employer contributions were approximately $223,800 and $136,600 in 2025 and 2024, respectively. Forfeited non-vested accounts to be utilized in future years as of December 31, 2025 amounted to approximately $160,300.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of accounting

The financial statements of the Plan are prepared under the accrual method of accounting.

Investment valuation and income recognition

The Plan’s investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Purchases and sales of investments are recorded on a trade-date basis. Interest income is accrued when earned. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year, in addition to capital gain distributions.

Notes receivable from participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are reclassified as distributions based upon the terms of the Plan document.

Administrative expenses

The Plan’s expenses are paid either by the Plan, participants, or the Company, as provided by the Plan document. Expenses that are paid directly by the Company are excluded from these financial statements. Certain expenses incurred in connection with the general administration of the Plan that are paid by the Plan are recorded as deductions in the accompanying statements of changes in net assets available for benefits. In addition, certain investment related expenses are included in net appreciation or depreciation of fair value of investments presented in the accompanying statements of changes in net assets available for benefits.

Use of estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the Plan’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates and assumptions.

Payment of benefits

Benefits are recorded when paid.

Subsequent events

The Plan has evaluated subsequent events and determined no subsequent events have occurred requiring adjustments to the financial statements or disclosures.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE C: FAIR VALUE MEASUREMENTS

Accounting principles generally accepted in the United States of America provides a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows:

Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

Level 2 - Inputs to the valuation methodology include:

•Quoted prices for similar assets or liabilities in active markets;

•Quoted prices for identical or similar assets or liabilities in inactive markets;

•Inputs other than quoted prices that are observable for the asset or liability;

•Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2025 and 2024.

Tompkins Financial Corporation common stock

Tompkins Financial Corporation common stock is valued at the closing price as listed on the New York Stock Exchange.

Mutual funds

Valued at the Net Asset Value (“NAV”) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in an active market.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE C: FAIR VALUE MEASUREMENTS, Cont’d

Collective investment trusts

Valued at NAV based on the underlying assets of the trust. The NAV is used as a practical expedient to estimate fair value and is obtained from information provided by the investment advisor using the audited financial statements of the collective investment trusts at year end.

The preceding methods as described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following table sets forth by Level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2025 and 2024:


	Level 1		Total
December 31, 2025
Tompkins Financial Corporation common stock	$	8,256,435	$	8,256,435
Collective investment trusts at NAV(1)	—		4,868,421
Mutual funds	218,080,285		218,080,285
Total investments, at fair value	$	226,336,720	$	231,205,141

December 31, 2024
Tompkins Financial Corporation common stock	$	9,202,840	$	9,202,840
Collective investment trusts at NAV(1)	—		5,649,325
Mutual funds	199,169,466		199,169,466
Total investments, at fair value	$	208,372,306	$	214,021,631

(1)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.

NOTE D: TAX STATUS

The Internal Revenue Service has determined and informed the Plan sponsor by a letter dated June 30, 2020, that the non-standardized prototype plan under which the Plan was adopted is designed in accordance with the applicable sections of the Internal Revenue Code (“IRC”). The Plan has been amended since receiving the determination letter. The Plan administrator and the Plan’s legal counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of IRC.

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TOMPKINS RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025 AND 2024

NOTE D: TAX STATUS, Cont'd

Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2025 and 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

NOTE E: PLAN TERMINATION

Although it has not expressed any intent to do so, the Plan sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants have a fully vested interest in their accounts and their accounts will be paid to them as provided by the Plan document.

NOTE F: TRANSACTIONS WITH PARTIES-IN-INTEREST

Certain Plan investments are managed by Principal, and related entities and, therefore, transactions involving these investments qualify as party-in-interest transactions. Notes receivable from participants also qualify as party-in-interest transactions as defined by ERISA.

The Plan invests in Tompkins Financial Corporation common stock which represents approximately 3% and 4% of net assets available for benefits at December 31, 2025 and 2024, respectively.

NOTE G: RISKS AND UNCERTAINTIES

The Plan invests in various types of investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Market risks include global events which could impact the value of investment securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the accompanying statements of net assets available for benefits.

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TOMPKINS RETIREMENT SAVINGS PLAN

SUPPLEMENTAL SCHEDULE

- 13 -

TOMPKINS RETIREMENT SAVINGS PLAN

EIN: 15-0470650

PLAN #: 002

FORM 5500 - SCHEDULE H - PART IV

ITEM 4i - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES

AT END OF YEAR - DECEMBER 31, 2025

(a)

(b)

(c)

(e)

Party
in
interest

Identity of issue, borrower,
lessor or similar party

Description of investment,
including maturity date, rate of
interest, collateral, par or
maturity value

Current
Value

American Funds Service Co.

1,861,704.5126 Units

39,095,795

Target Date Retirement 2035 R6

American Funds Service Co.

1,693,332.2430 Units

31,783,845

Target Date Retirement 2030 R6

American Funds Service Co.

1,043,416.7208 Units

24,144,663

Target Date Retirement 2040 R6

American Funds Service Co.

964,945.3224 Units

23,226,234

Target Date Retirement 2045 R6

American Funds Service Co.

1,324,503.2389 Units

21,403,972

Target Date Retirement 2025 R6

American Funds Service Co.

548,913.1449 Units

13,031,198

Target Date Retirement 2050 R6

BlackRock Advisors, LLC

282,011.0274 Units

12,041,871

iShares Russell 1000 LC Index K

American Funds Service Co.

580,579.3619 Units

8,261,644

Target Date Retirement 2020 R6

American Funds Service Co.

210,499.0382 Units

6,344,441

Target Date Retirement 2055 R6

Fidelity Investments

130,391.8615 Units

6,033,231

Large Cap Gr Index Fund

Great Gray Trust Company

378,696.0838 Units

4,399,880

Stable Value R1 Fund

JP Morgan Investment Mgmt Inc.

174,403.7418 Units

4,316,493

Equity Income R6 Fund

American Funds Service Co.

296,961.6297 Units

3,824,866

Target Date Retirement 2015 R6

BlackRock Advisors, LLC

227,203.7521 Units

3,519,386

iShares Russell MC Index K Fund

BlackRock Advisors, LLC

121,007.5431 Units

3,241,792

iShares Russell 2000 SC Index K

American Funds Service Co.

113,925.8616 Units

2,337,759

Target Date Retirement 2060 R6

(CONTINUED)

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TOMPKINS RETIREMENT SAVINGS PLAN

EIN: 15-0470650

PLAN #: 002

FORM 5500 - SCHEDULE H - PART IV

ITEM 4i - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES

AT END OF YEAR - DECEMBER 31, 2025, Cont’d

(a)

(b)

(c)

(e)

Party
in
interest

Identity of issue, borrower,
lessor or similar party

Description of investment,
including maturity date, rate of
interest, collateral, par or
maturity value

Current
Value

American Funds Service Co.

112,456.1046 Units

2,269,364

Target Date Retirement 2065 R6

American Funds Service Co.

182,081.3578 Units

2,234,138

Target Date Retirement 2010 R6

JP Morgan Investment Mgmt Inc.

203,598.0958 Units

2,125,564

Core Bond R6 Fund

BlackRock Advisors, LLC

147,914.3743 Units

1,924,366

iShares MSCI Tot Intl Idx K Fund

Morgan Stanley Investment Mgmt

62,975.8186 Units

1,750,098

Inst Int Adv I

John Hancock Advisors, LLC

52,145.7986 Units

1,431,924

Disc Value Mid-Cap R6 Fund

BlackRock Advisors, LLC

153,249.9695 Units

1,406,835

iShares US Agg Bond Index K Fund

Harbor Capital Advisors

22,795.7975 Units

973,609

Small Cap Value Ret Fund

Baillie Gifford

34,557.0626 Units

916,799

Baillie Gifford Emg Mkt Eq K

Great Gray Trust Company

29,221.7251 Units

468,541

Mid Cap Growth R1 Fund

American Funds Service Co.

34,112.9667 Units

440,398

Target Date Retirement 2070 R6

Tompkins Financial Corp.

113,850.4531 Units

Corporation Common Stock

8,256,435

231,205,141

Participant loans

3.25% - 9.50% maturing 2026 through 2042

2,364,044

233,569,185

Note: Certain cost information in column (d) is not required to be disclosed as investments are participant directed under an individual account plan.

* Denotes party in interest

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

TOMPKINS RETIREMENT SAVINGS PLAN

Administrator: TOMPKINS COMMUNITY BANK

Date: June 23, 2026 By: /s/ Matthew D. Tomazin

Matthew D. Tomazin

Executive Vice President

and Chief Financial Officer

Exhibit Number

Description

Page

23.1

Consent of Mengel, Metzger, Barr & Co. LLP

SEC Form 11-K filed by Tompkins Financial Corporation