Chemung Financial Corporation reports news centered on community banking, trust services, wealth management and related financial services through Chemung Canal Trust Company and CFS Group, Inc. The company’s updates commonly cover quarterly earnings, net interest income and margin trends, loan and deposit activity, commercial lending, credit quality, and market activity across its New York footprint.
Recurring announcements also include common-stock dividends, balance sheet and securities-portfolio actions, subordinated debt and capital-management developments, investor presentations, and third-party credit ratings. Company news frequently ties operating results to Core Banking, Wealth Management, and CFS-related activities.
Chemung Financial Corporation (Nasdaq: CHMG) reported a net loss of $6.5 million, or $1.35 per share, for Q2 2025, compared to net income of $6.0 million in Q1 2025 and $5.0 million in Q2 2024. The loss was primarily due to a strategic balance sheet repositioning that included:
The company executed two major initiatives: issuing $45.0 million in subordinated notes and selling $245.5 million of available-for-sale securities, resulting in a $17.5 million pre-tax loss. Excluding one-time items, non-GAAP net income was $6.3 million ($1.31 per share).
Net interest margin improved to 3.05% from 2.96% in Q1 2025. The company maintained its quarterly dividend at $0.32 per share.
Chemung Financial Corporation (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.32 per share, payable on July 1, 2025, to shareholders of record as of June 17, 2025. The company, with a market capitalization of $2.8 billion, operates through its main subsidiary, Chemung Canal Trust Company, which manages 30 offices and holds the distinction of being New York State's oldest locally-owned and managed community bank, established in 1833. The corporation also owns CFS Group, Inc., which provides additional financial services including mutual funds, annuities, brokerage services, tax preparation, and insurance.
Chemung Financial (NASDAQ: CHMG) reported Q1 2025 net income of $6.0 million, or $1.26 per share, compared to $5.9 million in Q4 2024 and $7.1 million in Q1 2024.
Key highlights include:
- Quarterly dividend increased by 3.2% to $0.32 per share
- Net interest margin expanded to 2.96% from 2.92% in Q4 2024
- Interest rate spread increased to 2.17% from 2.06% in Q4 2024
- Annualized loan growth of 5.1%, with commercial loan growth of 10.5%
- Western New York Canal Bank division showed strong performance with 14.9% loan growth and 82.0% deposit growth year-over-year
Net interest income remained stable at $19.8 million, with decreased interest expense on deposits offset by lower interest income on loans and securities. Non-interest income decreased 3.3% to $5.9 million, while non-interest expense decreased 5.1% to $16.9 million compared to Q4 2024.
Chemung Financial (Nasdaq: CHMG) has announced a dividend increase of $0.01 per share, bringing the quarterly cash dividend to $0.32 per share. The dividend represents a 3.2% increase and will be payable on April 1, 2025, to shareholders of record as of March 18, 2025.
The increase comes as a result of the 's strong financial performance, according to President and CEO Anders M. Tomson. Chemung Financial is a $2.8 billion financial services holding company headquartered in Elmira, New York, operating 30 offices through its principal subsidiary, Chemung Canal Trust Company, which was established in 1833 and is New York State's oldest locally-owned and managed community bank.
Chemung Financial (CHMG) reported annual net income of $23.7 million ($4.96 per share) for 2024, down from $25.0 million ($5.28 per share) in 2023. Fourth quarter 2024 net income was $5.9 million ($1.24 per share), up from $5.7 million in Q3 2024 and $3.8 million in Q4 2023.
Key highlights include net interest margin expansion to 2.92% in Q4 2024 from 2.72% in Q3 2024, and annual loan growth of 5.0% with commercial and industrial growth of 13.3% and commercial real estate growth of 8.4%. Net interest income for 2024 was $74.1 million, slightly down from $74.5 million in 2023.
The bank saw improvements in asset quality with decreased non-performing loans ratios and maintained a dividend of $0.31 per share in Q4 2024.
Chemung Financial (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.31 per share, payable on January 2, 2025, to shareholders of record as of December 19, 2024. The company, with $2.8 billion in assets, operates through its main subsidiary Chemung Canal Trust Company, managing 31 offices. Founded in 1833, it is New York State's oldest locally-owned community bank. The also owns CFS Group, providing additional services including mutual funds, annuities, brokerage, tax preparation, and insurance.
Chemung Financial (CHMG) reported net income of $5.7 million, or $1.19 per share, for the third quarter of 2024. This compares to $5.0 million ($1.05 per share) in Q2 2024 and $7.6 million ($1.61 per share) in Q3 2023. Key highlights include:
- Opening of a new branch in Williamsville, New York
- Improvement in tangible equity to tangible assets ratio by 66 basis points to 7.22%
- Increase in net interest income to $18.4 million, up 3.4% from Q2 2024
- Non-interest income rose to $5.9 million, a 5.4% increase from Q2 2024
- Non-interest expense increased to $16.5 million, up 1.9% from Q2 2024
The company saw improvements in interest income on loans and deposits, partially offset by higher interest expenses. Asset quality remained stable with non-performing loans at 0.52% of total loans.
Chemung Financial (Nasdaq: CHMG) has announced a quarterly cash dividend of $0.31 per share, payable on October 1, 2024, to common stock shareholders of record as of September 19, 2024. The company, a $2.8 billion financial services holding company, operates through its principal subsidiary, Chemung Canal Trust Company, the oldest locally-owned and managed community bank in New York State.
Established in 1833, Chemung Canal Trust Company is a full-service community bank with full trust powers. The also owns CFS Group, Inc., which offers non-traditional financial services including mutual funds, annuities, brokerage services, tax preparation, and insurance.
Chemung Financial (Nasdaq: CHMG) reported a net income of $5.0 million, or $1.05 per share, for Q2 2024, down from $7.1 million, or $1.48 per share, in Q1 2024, and $6.3 million, or $1.33 per share, in Q2 2023. The net interest income decreased to $17.8 million from $18.1 million in Q1 2024 and $18.6 million in Q2 2023. Provision for credit losses increased by $2.9 million from Q1 2024 and $0.6 million from Q2 2023. Non-performing assets fell to $8.9 million from $10.7 million as of December 31, 2023. The efficiency ratio improved by 88 basis points to 69.19%. The Board declared a quarterly dividend of $0.31 per share. Despite challenges in funding costs, the focused on expense management and commercial loan growth.