Chemung Financial Corp. (OQ:CHMG)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | One Chemung Canal Plz, P O Box 1522 ELMIRA NY 14902 |
| Tel: | 1-607-7373746 |
| Website: | https://chemungfinancial.q4ir.com/corporate-information/corporate-profile/default.aspx |
| IR: | See website |
| Key People | ||
| Anders M. Tomson President, Chief Executive Officer, Director | Dale M. Mckim Chief Financial Officer, Executive Vice President, Treasurer | Daniel D. Fariello President of Capital Bank, a division of Chemung Canal Trust Company |
| Loren D. Cole Executive Vice President, Chief Information Officer | Peter K. Cosgrove Executive Vice President, Chief Risk Officer, Chief Credit Officer | Kimberly A. Hazelton Executive Vice President of Retail Client Services of the Bank |
| Thomas W. Wirth Executive Vice President - Wealth Management Group of the Bank | Jeffrey P. Kenefick Regional President of the Bank | |
| Business Overview |
| Chemung Financial Corporation is a financial services holding company. The Company operates about 31 offices through its principal subsidiary, Chemung Canal Trust Company (the Bank), a full-service community bank. The Company is also the parent company of CFS Group, Inc., a financial services subsidiary offering non-traditional services, including mutual funds, annuities, brokerage services, tax preparation services and insurance. The Company, through the Bank and CFS, provides a range of financial services, including demand, savings and time deposits, commercial, residential and consumer loans, interest rate swaps, letters of credit, wealth management services, employee benefit plans, insurance products, mutual funds and brokerage services. Its core banking segment attracts deposits from the general public and uses such funds to originate consumer, commercial, commercial real estate, and other loans. Its WMG services segment offers trust and investment advisory services to clients. |
| Financial Overview |
| For the three months ended 31 March 2024, Chemung Financial Corp. interest income increased 19% to $31.2M. Net interest income after loan loss provision increased 2% to $20.1M. Net income decreased 3% to $7.1M. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities. Net income was offset by Deposits increase from $5.4M to $12.1M (expense). |
| Employees: | 339 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $238.07M as of Mar 31, 2024 |
| Annual revenue (TTM): | $118.06M as of Mar 31, 2024 |
| EBITDA (TTM): | $25.51M as of Mar 31, 2024 |
| Net annual income (TTM): | $24.78M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $30.00M as of Mar 31, 2024 |
| Shares outstanding: | 4,768,000 as of Mar 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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