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Chemung Financial Corporation operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market deposits. It also offers commercial and agricultural loans comprising loans to small to mid-sized businesses; commercial and residential mortgage loans; and consumer loans, including home equity lines of credit and home equity term loans, as well as automobile loans. In addition, the company provides interest rate swaps, letters of credit, employee benefit plans, insurance products, mutual fund, brokerage, and tax preparation services. Further, it offers guardian, custodian, trustee, investment, pension, estate planning, and employee benefit administrative services, as well as acts as an agent for pension, profit-sharing, and other employee benefit trusts. The company was founded in 1833 and is based in Elmira, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $94M | - | $15M | $44M | 5.9% | -2.2% | -36.2% |
| 2024 | $96M | - | $24M | $26M | 11.0% | -1.9% | -5.3% |
| 2023 | $98M | - | $25M | $30M | 12.8% | 3.5% | -13.1% |
| 2022 | $95M | - | $29M | $35M | 17.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 94.61 | 97.96 | 96.11 | 93.95 |
| Pretax Income | 36.89 | 31.50 | 30.09 | 19.94 |
| Tax Provision | 8.11 | 6.50 | 6.41 | 4.83 |
| Net Income | 28.78 | 25 | 23.67 | 15.10 |
| Net Income Common Stockholders | 28.78 | 25 | 23.67 | 15.10 |
| Interest Expense | 7.30 | 38.62 | 53.51 | 45.68 |
| Interest Income | 81.47 | 113.07 | 127.56 | 132.84 |
| Selling General And Administration | 33.37 | 36.58 | 38.93 | 41.77 |
| Normalized Income | 28.74 | 24.97 | 23.69 | 15.10 |
| Basic EPS | 6.13 | 5.28 | 4.96 | 0 |
| Diluted EPS | 6.13 | 5.28 | 4.96 | 0 |
| Tax Effect Of Unusual Items | 0.01 | 0.01 | 0 | 0 |
| Tax Rate For Calcs | 0.22 | 0.21 | 0.21 | 0.24 |
| Total Unusual Items | 0.06 | 0.04 | -0.02 | 0 |
| Total Unusual Items Excluding Goodwill | 0.06 | 0.04 | -0.02 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 28.78 | 25 | 23.67 | 15.10 |
| Reconciled Depreciation | 3.03 | 2.80 | 2.02 | 2.67 |
| Net Interest Income | 74.18 | 74.46 | 74.06 | 87.16 |
| Net Income From Continuing And Discontinued Operation | 28.78 | 25 | 23.67 | 15.10 |
| Diluted Average Shares | 4.69 | 4.73 | 4.77 | 0 |
| Basic Average Shares | 4.69 | 4.73 | 4.77 | 0 |
| Diluted NI Availto Com Stockholders | 28.78 | 25 | 23.67 | 15.10 |
| Net Income Including Noncontrolling Interests | 28.78 | 25 | 23.67 | 15.10 |
| Net Income Continuous Operations | 28.78 | 25 | 23.67 | 15.10 |
| Gain On Sale Of Security | -0.35 | 0.06 | 0.18 | -17.29 |
| Depreciation Amortization Depletion Income Statement | 0.01 | 0 | 0 | 0 |
| Depreciation And Amortization In Income Statement | 0.01 | 0 | 0 | 0 |
| Amortization | 0.01 | 0 | 0 | 0 |
| Amortization Of Intangibles Income Statement | 0.01 | 0 | 0 | 0 |
| Selling And Marketing Expense | 0.94 | 0.92 | 1.18 | 1.25 |
| General And Administrative Expense | 32.43 | 35.65 | 37.75 | 40.52 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.36 | 2.13 | 2.12 | 1.52 |
| Salaries And Wages | 31.07 | 33.52 | 35.63 | 39 |
| Operating Revenue | 94.61 | 97.96 | 96.11 | 93.95 |
| Occupancy And Equipment | 7.45 | 7.37 | 7.49 | 7.51 |
| Professional Expense And Contract Services Expense | 2.17 | 2.29 | 2.35 | 2.71 |
| Other Non Interest Expense | 15.28 | 16.96 | 17.29 | 17.59 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Chemung Financial Corporationthis co. | CHMG | $322M | 17.63↑ premium | 1.23 | 5.9% | - |
| Waterstone Financial, Inc. | WSBF | $325M | 10.86 | 0.90 | 7.6% | - |
| Value Line, Inc. | VALU | $324M | 14.76 | 3.01 | 20.8% | 40.33 |
| Avidbank Holdings, Inc. | AVBH | $323M | - | 1.12 | -7.0% | - |
| LINKBANCORP, Inc. | LNKB | $322M |
| 9.54 |
| 1.05 |
| 10.9% |
| - |
| The First Bancorp, Inc. | FNLC | $320M | 8.77 | 1.13 | 12.1% | - |
| BayCom Corp | BCML | $320M | 12.13 | 0.92 | 7.1% | - |
| Timberland Bancorp, Inc. | TSBK | $320M | 10.54 | 1.19 | 11.1% | - |
| Norwood Financial Corp. | NWFL | $317M | 10.68 | 1.11 | 11.5% | - |
| Peer Median | - | 10.68 | 1.12 | 11.0% | 40.33 | |