CHEMUNG FINANCIAL CORP CHMG
The Corporation was incorporated on January 2, 1985 under the laws of the State of New York and is headquartered in Elmira, New York. The Corporation was organized for the purpose of acquiring the Bank. The Bank was established in 1833 under the name Chemung Canal Bank, and was subsequently granted a New York State bank charter in 1895. In 1902, the Bank was reorganized as a New York State trust company under the name Elmira Trust Company, and its name was changed to Chemung Canal Trust Company in 1903.
The Corporation became a financial holding company in June 2000. Financial holding company status provided the Corporation with the flexibility to offer an array of financial services, such as insurance products, mutual funds, and brokerage services, which provide additional sources of fee-based income and allows the Corporation to better serve its customers. The Corporation established a financial services subsidiary, CFS, in September 2001 which offers non-banking financial services such as mutual funds, annuities, brokerage services, insurance, and tax preparation services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $132.8M | $127.6M | $113.1M | $81.5M | $69.0M | $66.9M | $66.9M | $64.6M | $60.1M | $56.2M |
| Interest expense | $87.2M | $74.1M | $74.5M | $7.3M | $3.4M | $4.0M | $6.3M | $4.1M | $3.1M | $3.8M |
| Pre-tax income | $19.9M | $30.1M | $31.5M | $36.9M | $33.8M | $23.9M | $19.0M | $23.6M | $14.7M | $14.4M |
| Income tax | $4.8M | $6.4M | $6.5M | $8.1M | $7.3M | $4.6M | $3.4M | $4.0M | $7.3M | $4.4M |
| Net income | $15.1M | $23.7M | $25.0M | $28.8M | $26.4M | $19.3M | $15.6M | $19.6M | $7.4M | $10.0M |
| EPS, basic | 3.14 | 4.96 | 5.28 | 6.13 | 5.64 | 4.01 | — | — | — | — |
| EPS, diluted | 3.14 | 4.96 | 5.28 | 6.13 | 5.64 | 4.01 | 3.21 | 4.06 | 1.55 | 2.11 |
| Shares, diluted (wtd. avg.) | 4.8M | 4.8M | 4.7M | 4.7M | 4.7M | 4.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $50.1M | $47.0M | $36.8M | $55.9M | $27.0M | $108.5M | $121.9M | $130.0M | $30.7M | $74.2M |
| Property, plant and equipment | $15.4M | $16.4M | $14.6M | $16.1M | $18.0M | $20.1M | $22.4M | $25.0M | $26.7M | $28.9M |
| Goodwill | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M |
| Other intangibles | — | — | — | $0 | $15.0K | $258.0K | $742.0K | $1.4M | $2.1M | $2.9M |
| Total assets | $2.71B | $2.78B | $2.71B | $2.65B | $2.42B | $2.28B | $1.79B | $1.76B | $1.71B | $1.66B |
| Total liabilities | $2.46B | $2.56B | $2.52B | $2.48B | $2.21B | $2.08B | $1.61B | $1.59B | $1.56B | $1.51B |
| Retained earnings | $256.5M | $247.7M | $229.9M | $211.9M | $188.9M | $168.0M | $153.7M | $143.1M | $128.5M | $124.1M |
| Total equity | $254.7M | $215.3M | $195.2M | $166.4M | $211.5M | $199.7M | $182.6M | $165.0M | $149.8M | $143.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $45.5M | $29.8M | $30.9M | $35.0M | $35.5M | $28.7M | $26.4M | $27.8M | $23.6M | $22.1M |
| Depreciation and amortisation | $1.9M | $1.8M | $2.0M | $2.2M | $2.5M | $2.9M | $3.1M | $3.4M | $3.7M | $4.2M |
| Capital expenditure | $1.7M | $3.6M | $462.0K | $426.0K | $367.0K | $867.0K | $883.0K | $1.8M | $1.5M | $1.7M |
| Investing cash flow | $68.3M | -$57.7M | -$82.4M | -$252.6M | -$242.5M | -$495.8M | -$32.7M | $43.9M | -$106.6M | -$729.0K |
| Financing cash flow | -$110.8M | $38.1M | $32.5M | $246.5M | $125.5M | $453.8M | -$1.8M | $27.6M | $39.6M | $26.6M |
| Dividends paid | $6.3M | $7.4M | $5.8M | $5.8M | $5.3M | $5.0M | $5.0M | $5.0M | $4.9M | $4.9M |
| Buybacks | $396.0K | $344.0K | $316.0K | $933.0K | $1.6M | $7.6M | $0 | $0 | $61.0K | $22.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000763563-26-000009.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $56.2M | $60.1M | $64.6M | $66.9M | $66.9M | $69.0M | $81.5M | $113.1M | $127.6M | $132.8M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $10.0M | $7.4M | $19.6M | $15.6M | $19.3M | $26.4M | $28.8M | $25.0M | $23.7M | $15.1M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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