Tompkins Trustco Acquires Banfield Assoc.

Tompkins Insurance, a subsidiary of Tompkins Trustco Inc., based in Ithaca, N.Y., said Banfield is a full-service insurance agency, owned and operated by W. David Banfield, a 39-year veteran of the insurance industry. He will serve as senior vice president and manager of Tompkins Insurance Agencies in Ithaca.

In a statement, Mr. Banfield said the six-member agency would continue to serve clients from its offices in Ithaca.

David S. Boyce, president and chief executive officer of Tompkins Insurance Agency, said this is the fourth acquisition for the agency, the first in the region of New York's Tompkins County, and the fourth agency location. Tompkins Insurance offers primarily property-casualty insurance equally split between commercial and personal lines customers.

He said Banfield would operate under the Tompkins name from its current location.

Tompkins Insurance is a subsidiary of Tompkins Trustco Inc., the parent company of Tompkins Trust Company, The Bank of Castile and Mahopac National Bank. The bank operates 34 banking offices in New York State. For the year ending 2003, the bank reported $24.2 million in net income on total interest and dividend income of $92 million. The bank showed total assets of $1.86 billion in 2003.