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+1.82%
Close of 9 Nov 2026, in USD
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About Chemung Financial
From its filings with the US Securities and Exchange Commission
Chemung Financial is based in Elmira, New York and is incorporated in New York. Its shares trade on Nasdaq under the ticker CHMG. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported net income of $15.1m. At that date it held total assets of $2.71bn and shareholders' equity of $254.7m.
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.
The Corporation’s Board of Directors has concluded that expansion of the franchise’s geographic footprint, an increase in the Bank’s interest-earning assets and deposits, as well as the generation of new sources of non-interest income are important components of its strategic plan. Over the past two decades, the Corporation has completed two whole bank acquisitions, including of Canton, Pennsylvania based Canton Bancorp, Inc.
Quoted from its 10-K, filed 13 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 21 Mar 1994
- Employees
- 348
- Head office
- ONE CHEMUNG CANAL PLZ, ELMIRA, NY, 14902
- Incorporated in
- NY
- Classification
- State Commercial Banks
- Filer status
- Accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. David DalrympleIndependent Chairman of the Board$90,959
- Mr. Anders TomsonPresident, Chief Executive Officer, Director, since 2011$1.4m
- Mr. Dale MckimChief Financial Officer, Executive Vice President, Treasurer$553,466
- Mr. Vincent CutronaExecutive Vice President of the Bank and President - Canal Bank Division of Chemung Canal Trust Company
- Mr. Daniel FarielloExecutive Vice President of the Bank and President - Capital Bank Division of Chemung Canal Trust Company$440,675
- Mr. Jeffrey KenefickExecutive Vice President of the Bank and Regional President of the Bank, Interim Head - Wealth Management Group
- Mrs. Mary MeisnerExecutive Vice President, Chief Risk Officer
- Mr. Peter CosgroveExecutive Vice President and Chief Credit Officer$452,842
- Mr. Loren ColeExecutive Vice President and Chief Information Officer of the Bank$438,854
- Mrs. Kimberly HazeltonExecutive Vice President of the Bank - Retail Client Services, Marketing and Business Services
- Mr. Thomas WirthExecutive Vice President of the Bank - Wealth Management Group$315,339
- Mr. Raimundo ArchiboldIndependent Director$55,813
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 31
- Environment
- 2
- Social
- 38
- Governance
- 53
- Women in the workforce
- 72%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Established Reputation: Chemung Financial Corp has built a strong reputation in the financial industry over the years, gaining the trust of its customers and stakeholders.
- Diverse Product Portfolio: The company offers a wide range of financial products and services, including banking, lending, wealth management, and insurance solutions, catering to various customer needs.
- Strong Financial Position: Chemung Financial Corp maintains a robust financial position, with healthy profitability and solid financial ratios, providing stability and confidence to its investors.
Weaknesses
- Limited Geographical Presence: The company primarily operates in a specific region, which may restrict its growth opportunities compared to national or global competitors.
- Overreliance on Traditional Banking: Chemung Financial Corp's heavy reliance on traditional banking services leaves it susceptible to technological disruptions and changing customer preferences.
- Increasing Regulatory Compliance: Like all financial institutions, Chemung Financial Corp faces the challenge of complying with evolving regulatory requirements, which can increase operational costs and complexity.
Opportunities
- Market Expansion: Chemung Financial Corp can explore opportunities to expand its presence into new geographical areas and tap into untapped markets for further growth.
- Digital Transformation: By embracing technology and digital innovation, the company can enhance its customer experience, streamline operations, and reach a wider customer base.
- Strategic Partnerships: Collaborating with fintech companies or forming alliances with other financial institutions can provide Chemung Financial Corp with access to new technologies, expertise, and potential cross-selling opportunities.
Threats
- Intense Competition: The financial industry is highly competitive, with both traditional banks and disruptive fintech startups vying for market share, posing a threat to Chemung Financial Corp's customer retention and acquisition.
- Economic Volatility: Fluctuations in the economy, interest rates, and market conditions can impact Chemung Financial Corp's profitability, loan default rates, and investment portfolios.
- Cybersecurity Risks: The increasing reliance on technology exposes the company to potential cyber threats, such as data breaches, hacking, and identity theft, which can harm its reputation and customer trust.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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