NEW YORK—The Federal Reserve Bank of New York Monday approved the application by Tompkins Financial Corporation, Ithaca, New York to acquire Sleepy Hollow, Bancorp, Inc., and thereby acquire Sleepy Hollow Bank, both of Sleepy Hollow, New York, pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956, as amended.

According to standard procedure, the proposal cannot be completed for 15 days. The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.