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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% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 94.61 | 97.96 | 96.11 | 93.95 |
| Operating Revenue | - | 94.61 | 97.96 | 96.11 | 93.95 |
| Selling General And Administration | - | 33.37 | 36.58 | 38.93 | 41.77 |
| Interest Income | - | 81.47 | 113.07 | 127.56 | 132.84 |
| Interest Expense | - | 7.30 | 38.62 | 53.50 | 45.68 |
| Net Interest Income | - | 74.18 | 74.46 | 74.06 | 87.16 |
| Pretax Income | - | 36.89 | 31.50 | 30.08 | 19.94 |
| Tax Provision | - | 8.11 | 6.50 | 6.41 | 4.83 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.01 | 0.01 | 0 | 0 |
| Net Income Continuous Operations | - | 28.78 | 25 | 23.67 | 15.10 |
| Net Income From Continuing And Discontinued Operation | - | 28.78 | 25 | 23.67 | 15.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 28.78 | 25 | 23.67 | 15.10 |
| Net Income | - | 28.78 | 25 | 23.67 | 15.10 |
| Net Income Common Stockholders | - | 28.78 | 25 | 23.67 | 15.10 |
| Net Income Including Noncontrolling Interests | - | 28.78 | 25 | 23.67 | 15.10 |
| Normalized Income | - | 28.74 | 24.97 | 23.69 | 15.10 |
| Diluted NI Availto Com Stockholders | - | 28.78 | 25 | 23.67 | 15.10 |
| Basic Average Shares | - | 4.69 | 4.73 | 4.77 | 4.80 |
| Diluted Average Shares | - | 4.69 | 4.73 | 4.77 | 4.80 |
| Reconciled Depreciation | - | 3.03 | 2.80 | 2.02 | 2.67 |
| Total Unusual Items | - | 0.06 | 0.04 | -0.02 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0.06 | 0.04 | -0.02 | 0 |
| Gain On Sale Of Security | - | -0.35 | 0.06 | 0.18 | -17.29 |
| Depreciation Amortization Depletion Income Statement | 0.24 | 0.02 | 0 | - | - |
| Depreciation And Amortization In Income Statement | 0.24 | 0.02 | 0 | - | - |
| General And Administrative Expense | - | 32.43 | 35.65 | 37.75 | 40.52 |
| Other Gand A | 8.52 | - | - | - | - |
| Salaries And Wages | - | 31.07 | 33.52 | 35.63 | 39 |
| Insurance And Claims | - | 1.36 | 2.13 | 2.12 | 1.52 |
| Selling And Marketing Expense | - | 0.94 | 0.92 | 1.18 | 1.25 |
| Amortization | 0.24 | 0.02 | 0 | - | - |
| Amortization Of Intangibles Income Statement | 0.24 | 0.02 | 0 | - | - |
| Occupancy And Equipment | - | 7.44 | 7.36 | 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 | $336M | 22.26↑ premium | 1.32 | 5.9% | - |
| BayCom Corp | BCML | $342M | 14.31 | 1.01 | 7.1% | - |
| Northeast Community Bancorp, Inc. | NECB | $340M | 7.65 | 0.97 | 12.6% | - |
| USCB Financial Holdings, Inc. | USCB | $340M | 13.01 | 1.56 | 12.0% | - |
| Avidbank Holdings, Inc. | AVBH |
| - |
| - |
| - |
| - |
| - |
| - |
| $338M |
| -17.30 |
| 1.20 |
| -7.0% |
| - |
| Waterstone Financial, Inc. | WSBF | $336M | 12.72 | 0.96 | 7.6% | - |
| Regional Management Corp. | RM | $331M | 7.45 | 0.89 | 11.9% | - |
| The First Bancorp, Inc. | FNLC | $331M | 9.62 | 1.17 | 12.1% | - |
| Norwood Financial Corp. | NWFL | $329M | 11.86 | 1.36 | 11.5% | - |
| Peer Median | - | 10.74 | 1.09 | 11.7% | - | |