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 income of $7.3 million, or $1.54 per share, for Q1 2023, marking an increase from $6.9 million or $1.46 per share in Q1 2022. Key highlights include:
- Net interest income rose by 19.6% to $19.9 million.
- Loans grew by 2.4% to $44.3 million.
- Non-performing loans decreased from 0.45% to 0.41% of total loans.
- Tangible book value per share increased by 7.2% to $32.91.
Despite increasing challenges in the banking sector, the company maintains strong capital ratios and liquidity, affirming a solid market position.
Chemung Financial Corporation (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.31 per share, set to be paid on April 3, 2023. Shareholders on record as of March 20, 2023 will receive this dividend. The company, based in Elmira, New York, is valued at $2.6 billion and operates through its principal subsidiary, Chemung Canal Trust Company, the oldest locally-owned community bank in New York. With a history dating back to 1833, it also has subsidiaries like CFS Group, Inc. and Chemung Risk Management, Inc..
Chemung Financial Corporation (Nasdaq: CHMG) reported record net income of $28.8 million, or $6.13 per share, for 2022, marking a 9.1% increase from 2021. The fourth quarter net income was $7.4 million, or $1.58 per share, compared to $6.5 million in Q4 2021. Loans grew by $353.6 million (23.97%), with a net interest margin of 3.05% for the year. Non-performing loans decreased to 0.45% of total loans. Non-interest income fell 10.2% year-over-year, and expenses increased by 6.5%. Total assets rose to $2.646 billion, while total equity decreased to $166.4 million.
Chemung Financial Corporation (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.31 per share, scheduled for payment on January 3, 2023. This dividend will be issued to shareholders on record as of the close of business on December 20, 2022. The company, with total assets of approximately $2.6 billion, operates through 31 offices and is recognized as the oldest locally-managed community bank in New York State, established in 1833. It also includes subsidiaries like CFS Group, Inc. and Chemung Risk Management, Inc.
Chemung Financial Corporation (CHMG) reported net income of $6.5 million ($1.37/share) for Q3 2022, slightly down from $6.6 million ($1.42/share) in Q3 2021. Interest-earning assets contributed to a net interest income growth of 12.8% year-over-year, totaling $19.0 million. The net interest margin increased to 3.08%. Non-interest income decreased by 15.6% to $5.0 million. Non-interest expenses rose 3.4% to $14.6 million, influenced mainly by employee benefits. Total assets grew to $2.551 billion, with loan growth at 18.05%. Shareholders' equity declined by 26.5% to $155.5 million due to a decrease in accumulated other income.
Chemung Financial Corporation (Nasdaq: CHMG) has announced a quarterly cash dividend of $0.31 per share, scheduled for payment on October 3, 2022. Shareholders of record as of September 19, 2022 will receive this dividend. The company, headquartered in Elmira, New York, manages assets totaling $2.5 billion and operates 31 offices through its subsidiary, Chemung Canal Trust Company. This bank, established in 1833, is the oldest locally-owned community bank in New York State.
Chemung Financial Corporation (CHMG) reported a net income of $8.0 million, or $1.72 per share, for Q2 2022, up from $6.8 million, or $1.45 per share, in Q2 2021. The increase was attributed to stronger net interest income, which rose by 9.7% to $17.6 million. Loans grew by 9.46%, totaling $136.5 million. Non-interest income fell by 18.1% to $5.3 million. Non-performing loans decreased to $7.4 million, or 0.46% of total loans. Total assets increased by 1.3% to $2.450 billion. Shareholders’ equity decreased by 17.4% to $174.7 million, influenced by a drop in accumulated other comprehensive income.
Chemung Financial Corporation (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.31 per share, to be paid on July 1, 2022. Shareholders of record as of June 17, 2022 will benefit from this dividend. As a $2.5 billion financial services holding company, Chemung operates 31 offices through its subsidiary, Chemung Canal Trust Company, recognized as New York State's oldest locally-owned community bank. The company also manages CFS Group, Inc. and Chemung Risk Management, Inc., offering varied financial services.
Chemung Financial Corporation (Nasdaq: CHMG) reported a net income of $6.9 million ($1.46 per share) for Q1 2022, marking its highest quarterly earnings in history. This is an increase from $6.5 million ($1.39 per share) in Q1 2021. Key highlights include a 4.98% growth in loans (up $73.5 million) and a 4.4% rise in deposits (up $94.2 million). Non-performing loans also decreased from $8.1 million to $7.7 million. Net interest income rose 5.6% to $16.7 million. Despite a 9.8% rise in non-interest expenses to $14.7 million, the overall financial outlook remains strong with a healthy liquidity position and effective loan management.
Chemung Financial Corporation (NASDAQ: CHMG) has declared a quarterly cash dividend of $0.31 per share, scheduled for payment on April 1, 2022. Shareholders recorded as of the close on March 18, 2022, will be eligible for this dividend. The company, which operates as a financial services holding entity with a valuation of $2.4 billion, is headquartered in Elmira, New York, and runs 31 offices through its main subsidiary, Chemung Canal Trust Company, established in 1833.