Welcome to our dedicated page for Chemung Financia news (Ticker: CHMG), a resource for investors and traders seeking the latest updates and insights on Chemung Financia stock.
Chemung Financial Corp (CHMG) delivers community-focused banking and wealth management services across New York and Pennsylvania. This news hub provides investors and stakeholders with timely updates on strategic initiatives, financial performance, and market developments.
Access official press releases, earnings reports, and regulatory filings alongside analysis of leadership changes, product launches, and community reinvestment programs. Our curated collection simplifies tracking CHMG's dual focus on traditional banking operations and comprehensive wealth management solutions.
Key updates include quarterly earnings calls, merger/acquisition activity, dividend declarations, and regulatory compliance milestones. Discover how CHMG's locally-driven decision-making impacts regional economic growth through small business lending and personalized financial services.
Bookmark this page for continuous access to verified information about one of America's oldest community banking institutions. Monitor CHMG's commitment to balancing historical banking values with modern wealth management strategies through our maintained news archive.
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.
Chemung Financial (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.31 per share. This dividend will be payable on July 1, 2024, to shareholders of record by June 17, 2024. Chemung Financial , headquartered in Elmira, New York, is a $2.8 billion financial services holding company. It operates 31 offices through its main subsidiary, Chemung Canal Trust Company, which is the oldest community bank in New York State. The also owns CFS Group, offering various financial services such as mutual funds, annuities, and tax preparation.
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