Image file names do next to nothing for SEO except for, of course, image search. Same with the alt text. There was a point where SEO bloggers decided that the file name and alt text boosted search performance, however, this was not actually true. Content is used for text search. And please do not get me started on the scores of idiot SEO bloggers!
The image file name should describe the image and not the page.
I advise using as many semantic clues as possible. Your first example is more descriptive, however, I do warn you, please do not be so steccato in trying to insert keywords. What is important is semantics.
For example, for an image of St. Michael's Cathedral Basilica in Toronto the file name should be st-michaels-cathedral-basilica-in-toronto.jpg. You will notice I inserted the word in. It creates a complete subject, predicate, and object semantic link where St. Michael's Cathedral Basilica is the subject, in is the predicate, and Toronto is the object. Since the basilica is in old Toronto, you can add st-michaels-cathedral-basilica-in-old-toronto.jpg. Think in terms of a sentence. Be natural. Pretend people are actually going to read the file name.
As for alt text, think in the same terms except that you will indeed create a complete sentence.
Now if it so happens that a good page title would be St. Michael's Cathedral Basilica in Toronto, then so be it. But do not use the title for images as a rule.