Chemung Canal Trust Company

Chemung Financial Corporation Announces Quarterly Dividend

Retrieved on: 
Mardi, mai 21, 2024
Chemung Canal Trust Company, Insurance, CFS, CHMG

ELMIRA, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on July 1, 2024, to common stock shareholders of record as of the close of business on June 17, 2024.

Key Points: 
  • ELMIRA, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on July 1, 2024, to common stock shareholders of record as of the close of business on June 17, 2024.
  • Chemung Financial Corporation is a $2.8 billion financial services holding company headquartered in Elmira, New York and operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.
  • Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State.
  • Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance.

Chemung Financial Corporation Reports First Quarter 2024 Net Income of $7.1 million, or $1.48 per share

Retrieved on: 
Jeudi, avril 18, 2024
Sale, Mastercard, Total, Federal Reserve, Investment, Corporation, CHMG, FHLB, Projection, Federal Home Loan Banks, 190th, Interest, Software, Federal, SBA, NSF, Environment, Unemployment, Chemung Canal Trust Company, CECL, Bank, GDP, Share repurchase, Marketing, Advertising, FOMC, GAAP, Growth, Overalls

Fully taxable equivalent net interest margin was 2.73% in the current quarter, compared to 2.69% in the prior quarter.

Key Points: 
  • Fully taxable equivalent net interest margin was 2.73% in the current quarter, compared to 2.69% in the prior quarter.
  • Non-interest income for the first quarter of 2024 was $5.7 million, compared to $5.9 million for the prior quarter, a decrease of $0.2 million, or 3.4%.
  • Income tax expense for the first quarter of 2024 was $2.0 million, compared to $0.8 million for the prior quarter, an increase of $1.2 million.
  • Income tax expense of $2.0 million for the first quarter of 2024 was comparable with the first quarter of 2023.

Chemung Financial Corporation Announces Quarterly Dividend

Retrieved on: 
Mercredi, février 21, 2024
Chemung Canal Trust Company, CHMG, CFS, Insurance

ELMIRA, N.Y., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on April 1, 2024, to common stock shareholders of record as of the close of business on March 18, 2024.

Key Points: 
  • ELMIRA, N.Y., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on April 1, 2024, to common stock shareholders of record as of the close of business on March 18, 2024.
  • Chemung Financial Corporation is a $2.7 billion financial services holding company headquartered in Elmira, New York and operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.
  • Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State.
  • Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance.

Chemung Financial Corporation Reports Annual Net Income of $25.0 million, or $5.28 per share, and Fourth Quarter 2023 Net Income of $3.8 million, or $0.80 per share

Retrieved on: 
Jeudi, janvier 25, 2024
FDIC, CHMG, CECL, Total, ASU, CFO, Bank, Acceleration, Corporation, Insurance, Federal, FHLB, Interest, Share repurchase, Federal Reserve, Federal funds, Environment, Sale, GAAP, Investment, Federal Home Loan Banks, Discount window, Chemung Canal Trust Company, SBA, Projection, FOMC, GDP, Unemployment, Growth

Net income was $3.8 million, or $0.80 per share, for the fourth quarter of 2023, compared to $7.6 million, or $1.61 per share, for the third quarter of 2023, and $7.4 million, or $1.58 per share, for the fourth quarter of 2022.

Key Points: 
  • Net income was $3.8 million, or $0.80 per share, for the fourth quarter of 2023, compared to $7.6 million, or $1.61 per share, for the third quarter of 2023, and $7.4 million, or $1.58 per share, for the fourth quarter of 2022.
  • Fully taxable equivalent net interest margin was 2.85% for the year ended December 31, 2023, compared to 3.05% for the prior year.
  • Fully taxable equivalent net interest margin was 2.69% in the current quarter compared to 2.73% in the prior quarter.
  • Income tax expense for the fourth quarter of 2023 decreased to $0.8 million compared to $2.1 million in the fourth quarter of 2022.

Chemung Financial Corporation Announces Quarterly Dividend

Retrieved on: 
Mercredi, novembre 15, 2023
CFS, Insurance, Chemung Canal Trust Company, CHMG, Holding company, Security (finance)

ELMIRA, N.Y., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on January 2, 2024 to common stock shareholders of record as of the close of business on December 19, 2023.

Key Points: 
  • ELMIRA, N.Y., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on January 2, 2024 to common stock shareholders of record as of the close of business on December 19, 2023.
  • Chemung Financial Corporation is a $2.7 billion financial services holding company headquartered in Elmira, New York and operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.
  • Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State.
  • Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance, and Chemung Risk Management, Inc., a captive insurance company based in the State of Nevada.

FEDERAL HOME LOAN BANK OF NEW YORK ANNOUNCES RESULTS OF 2023 BOARD OF DIRECTOR ELECTIONS

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Lundi, novembre 27, 2023
Human resources, Federal Home Loan Banks, Bank, Housing, Projection, Foreign policy, Member, Representative, Risk, Sustainability Accounting Standards Board, Louisiana House of Representatives, Chemung Canal Trust Company, Compensation, Nature, House, Congressional Award, Uncertainty, Corporate governance, Suzanne Weyn, Insurance, Public interest, Independent director, Commissioner, Commonwealth, Drug, Management

NEW YORK, Nov. 27, 2023 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today the results of the 2023 election for four positions on the FHLBNY's Board of Directors ("Board") whose terms will each commence on January 1, 2024.

Key Points: 
  • NEW YORK, Nov. 27, 2023 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today the results of the 2023 election for four positions on the FHLBNY's Board of Directors ("Board") whose terms will each commence on January 1, 2024.
  • Ms. Weyne will continue to serve as an Independent Director and Ms. Maloney will serve as a Public Interest Independent Director.
  • The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank.
  • It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks.

Chemung Financial Corporation Reports Third Quarter 2023 Net Income of $7.6 million, or $1.61 per Share

Retrieved on: 
Mardi, octobre 24, 2023
DDA, Federal Reserve responses to the subprime crisis, Sale, FRB, ATM, Bank, Federal Home Loan Banks, Pressure, CHMG, Federal government of the United States, Federal Reserve, Share repurchase, Federal Open Market Committee, ASU, Maintenance, Acceleration, FOMC, Federal, Chemung Canal Trust Company, Environment, Growth, Small business, Small Business Administration, FHLB, Corporation, CECL, Borrowing base, Discount window, Unemployment, Investment, Pharmaceutical industry, Real estate, Cryptocurrency, Life insurance, Insurance, Video game, Security (finance)

“The Company again demonstrated solid financial performance in the third quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation."

Key Points: 
  • “The Company again demonstrated solid financial performance in the third quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation."
  • Fully taxable equivalent net interest margin was 2.73% for the third quarter 2023, compared to 3.08% for the same period in the prior year.
  • The provision for credit losses decreased $0.8 million for the third quarter of 2023, when compared to the third quarter of 2022.
  • Income tax expense for the third quarter of 2023 increased to $2.1 million compared to $1.7 million in the third quarter of 2022.

Chemung Financial Corporation Announces Quarterly Dividend

Retrieved on: 
Mercredi, août 16, 2023
Insurance, CHMG, CFS, Secretary of State of Nevada, Chemung Canal Trust Company, Holding company, Security (finance)

ELMIRA, N.Y., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on October 2, 2023 to common stock shareholders of record as of the close of business on September 18, 2023.

Key Points: 
  • ELMIRA, N.Y., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.31 per share, payable on October 2, 2023 to common stock shareholders of record as of the close of business on September 18, 2023.
  • Chemung Financial Corporation is a $2.7 billion financial services holding company headquartered in Elmira, New York and operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.
  • Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State.
  • Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance, and Chemung Risk Management, Inc., a captive insurance company based in the State of Nevada.

Chemung Financial Corporation Reports Second Quarter 2023 Net Income of $6.3 million, or $1.33 per Share

Retrieved on: 
Jeudi, juillet 20, 2023
Borrowing base, Insurance, Advertising, Discount window, CHMG, FHLB, Small Business Administration, Federal, Marketing, COVID-19, FDIC, GAAP, DDA, Sale, Federal Home Loan Banks, Federal government of the United States, Corporation, Federal Reserve, Investment, Nature, FRB, CECL, Chemung Canal Trust Company, Small business, ASU, Bank, Federal Open Market Committee, FOMC, Pharmaceutical industry, Video game, Real estate, Cryptocurrency, Life insurance, Security (finance)

“I’m pleased with the financial results for the second quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation.

Key Points: 
  • “I’m pleased with the financial results for the second quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation.
  • Net interest income grew $1.0 million, or 5.4% in the quarter, when compared to the second quarter of 2022.
  • Provision for credit losses increased $2.0 million for the second quarter of 2023, when compared to the second quarter of 2022.
  • Income tax expense for the second quarter of 2023 was $1.6 million compared to $2.3 million in the second quarter of 2022.

Chemung Canal Trust Company Appoints New Executive Vice President, Chief Financial Officer & Treasurer

Retrieved on: 
Vendredi, juin 2, 2023
Insurance, University, CHMG, State university system, McKim, D. L. Evans Bank, Secretary of State of Nevada, Certified Public Accountant, Audit committee, Retirement, Trustee, KPMG LLP, Chemung Canal Trust Company, Bank, Treasurer, KPMG, CFS, Family, Management, Buffalo, Accounting

ELMIRA, N.Y., June 02, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (NASDAQ: CHMG), parent company of Chemung Canal Trust Company, today announced that Dale M. McKim III will join the Bank's management team as Executive Vice President, Chief Financial Officer and Treasurer.

Key Points: 
  • ELMIRA, N.Y., June 02, 2023 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (NASDAQ: CHMG), parent company of Chemung Canal Trust Company, today announced that Dale M. McKim III will join the Bank's management team as Executive Vice President, Chief Financial Officer and Treasurer.
  • Mr. McKim will also serve as Chief Financial Officer and Treasurer of Chemung Financial Corporation.
  • "I am pleased to have Dale join our Executive Management Team," said Anders M. Tomson, President & Chief Executive Officer.
  • Chemung Financial Corporation is a $2.65 billion financial-services holding company headquartered in Elmira, New York, which operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.