Company Description
Chemung Financial Corporation is a $1.7 billion financial services holding company headquartered in Elmira, New York and operates 33 retail 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 active independent 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 founded in 2001 and Chemung Risk Management, Inc., a captive insurance subsidiary founded in 2016.

Annual Report

Corporate Data

Contact Information

Chemung Financial Corporation,
One Chemung Canal Plaza
P O BOX 1522
Elmira, NY 14901
(607) 737-3711

Investor Relations Contact
Ms. Kathy McKillip
(607) 737-3746
Kmckillip@chemungcanal.com*

*This email link is not secure; please do not send any confidential information to us via this link
Transfer Agent
American Stock Transfer & Trust Company, LLC
3rd Floor, 6201 15th Avenue
Brooklyn
New York, NY 11219
(718) 921-8124
Officers and Directors
Top Executives
   Louis C. DiFabio
Executive Vice President, Business Client Services
   Kim Hazelton
Executive Vice President, Retail Client Division
   Karl F. Krebs
Executive Vice President, CFO and Treasurer
   Karen R. Makowski
Executive Vice President, Chief Administrative & Risk Officer
   Anders M. Tomson
President & CEO
   Thomas W. Wirth
Executive Vice President, Wealth Management Group
 
Board of Directors
   Larry H. Becker
Owner and COO, Windsor Development Group, inc.
   Ronald M. Bentley
Retired President & CEO
   Bruce Walter Boyea
Chairman, President and CEO, Security Mutual Life Insurance Company of New York
   David J. Dalrymple
Chairman of the Board, Chemung Financial Corporation & Chemung Canal Trust Company
   Robert H. Dalrymple
Vice President and Secretary, Dalrymple Holding Corporation
   Clover M. Drinkwater
Partner, Sayles & Evans
   Stephen M. Lounsberry III
President, Applied Technology Manufacturing
   John F. Potter
President, Seneca Beverage Corporation
   Richard W. Swan
Chairman of the Board, Swan and Sons-Morss Co., Inc.
   Anders M. Tomson
PRESIDENT & CEO
   G. Thomas Tranter Jr.
President, Corning Enterprises, the Collaborative Arm of Corning, Inc.
   Kevin B. Tully
   Thomas R. Tyrrell
Vice President, Rose & Kiernan, Inc.
 
 
Market Data

Current QuoteData as of October 23, 2017 9:29 AM
Last Sale $ 44.48
Last Close $ 44.50
Today's High $ 44.48
Today's Low $ 44.48
Net Change $ (0.02)  Down  .04%
Today's Volume842
Minimum 20 minute delay
Current Chart

Dividends (NASDAQ - CHMG)
Description:
Common stock, $0.01 par value
LTM Dividend Payout Ratio (%): 39.69
Current Dividend Yield (%): 2.34
Ex-Dividend Date Record Date Announce Date Pay Date Amount Frequency
9/15/20179/18/20178/17/201710/2/20170.2600Quarterly
6/15/20176/19/20175/18/20177/3/20170.2600Quarterly
3/16/20173/20/20172/15/20174/3/20170.2600Quarterly
12/16/201612/20/201611/16/20161/3/20170.2600Quarterly
9/15/20169/19/20168/18/201610/3/20160.2600Quarterly
6/15/20166/17/20165/19/20167/1/20160.2600Quarterly
3/16/20163/18/20162/18/20164/1/20160.2600Quarterly
Dividends Graph

Most recent year is YTD

Stock Price History
High ($)Low ($)
One Day45.00  44.50  
One Month48.06  40.85  
Three Months48.06  38.79  
Year-to-Date48.06  31.72  
One Year48.06  28.06  
Three Year48.06  25.26  
Three Year Date10/2/2017 5/7/2015 
Recent Documents

Filing DescriptionFiling TypeFiling DateEvent Date
8-K8-K10/19/201710/19/2017
8-K8-K8/17/20178/16/2017
10-Q10-Q8/2/20176/30/2017
8-K8-K7/21/20177/20/2017
8-K8-K7/6/20177/6/2017
Peer Analysis

Data for trailing four quarters

Performance Ratios (%)CHMG Peer
Median
Peer
Average
ROAA0.74 0.91 0.90 
ROAE8.45 9.54 9.27 
Net Interest Margin3.48 3.26 3.36 
Efficiency Ratio68.81 61.28 60.56 
Loans / Deposits83.85 91.30 90.43 
Asset Quality Ratios (%)   
NPAs / AssetsNA 0.59 0.85 
NCOs / Avg Loans0.23 0.08 0.10 
Reserves / Loans1.22 1.13 1.09 
Reserves / NPAsNA 132.39 152.78 
Capital Ratios (%)   
Tier 1 CapitalNA 12.63 12.87 
Tangible Equity / Tangible Assets7.62 8.33 8.97 
Total Equity / Total Assets8.91 9.78 9.96 
Market Ratios   
Price / Earnings (x)16.98 17.86 18.31 
Price / Book (%)138.51 164.94 166.03 
Dividend Yield (%)2.34 2.53 2.34 
Chemung Financial Corporation's peer group consists of the following: ACNB Corporation (ACNB) , Arrow Financial Corporation (AROW) , Bar Harbor Bankshares (BHB) , Bridge Bancorp, Inc. (BDGE) , Bryn Mawr Bank Corporation (BMTC) , Cambridge Bancorp (CATC) , Camden National Corporation (CAC) , Canandaigua National Corporation (CNND) , Citizens & Northern Corporation (CZNC) , CNB Financial Corporation (CCNE) , Codorus Valley Bancorp, Inc. (CVLY) , Customers Bancorp, Inc. (CUBI) , Enterprise Bancorp, Inc. (EBTC) , Financial Institutions, Inc. (FISI) , First Bancorp, Inc. (FNLC) , First of Long Island Corporation (FLIC) , Franklin Financial Services Corporation (FRAF) , Hudson Valley Holding Corp. (HVB) , Intervest Bancshares Corporation (IBCA) , Merchants Bancshares, Inc. (MBVT) , Metro Bancorp, Inc. (METR) , Orrstown Financial Services, Inc. (ORRF) , Suffolk Bancorp (SCNB) , Univest Corporation of Pennsylvania (UVSP)

Chemung Financial Corporation's financial data is as of 9/30/2017.

Peer financial data is as of 6/30/2017  except for these companies:

Bar Harbor Bankshares's financial data is as of 9/30/2017.
Bryn Mawr Bank Corporation's financial data is as of 9/30/2017.
Cambridge Bancorp's financial data is as of 9/30/2017.
Citizens & Northern Corporation's financial data is as of 9/30/2017.
CNB Financial Corporation's financial data is as of 9/30/2017.
Codorus Valley Bancorp, Inc.'s financial data is as of 9/30/2017.
Enterprise Bancorp, Inc.'s financial data is as of 9/30/2017.
First Bancorp, Inc.'s financial data is as of 9/30/2017.
Hudson Valley Holding Corp.'s financial data is as of 3/31/2015.
Intervest Bancshares Corporation's financial data is as of 12/31/2014.
Merchants Bancshares, Inc.'s financial data is as of 3/31/2017.
Metro Bancorp, Inc.'s financial data is as of 12/31/2015.
Suffolk Bancorp's financial data is as of 12/31/2016.
 U.S. Branches: Current Ownership (33)




Mergers and Acquisitions
Acquisitions
Bank & Thrift Company Deals

Target
Seller
State Industry
Type
Announce
Date
Status Deal Value
($M)
Target Total
Assets ($000)
Fort Orange Financial Corp.NYBank10/14/2010Completed on 4/8/201128.81271,121
 
Bank & Thrift Branch Deals

Target
Seller
Industry
Type
Announce
Date
Status Number of
Branches
All
Branch
States
Total Deposits
Transferred
($000)
6 BranchesBank of America CorporationBank7/10/2013Completed on 11/22/20136NY177,700
 
Institutional Ownership
Ownership Information
Shares Outstanding4,804,000
Short Interest Shares32,352
Float (%)77.39
Institutional Ownership (%)41.47
Mutual Fund Ownership (%)8.69
Insider Ownership (%)22.61
Top 10 Instn Holders (%)34.08
Ownership Activity
DescriptionHoldersShares
Total Positions751,964,594
New Positions86,768
Increased Positions24102,498
Decreased Positions21(69,159)
Soldout Positions5(5,142)
Net Change 34,965
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.
Insider Ownership
Insider Transaction Activity (Last 6 Months)
Aggregates Shares Price ($) Value ($)
Open Market Buys4,30038.00163,400
Open Market Sells (11,817) 38.27 (452,273)
Options Ex. & Sold0----
Net Shares (7,517) 38.20 (288,873)

High Volume Traders (Last 6 Months)
Name # Buys # Sells # Options Ex. & Sold Total # Trans. Net Shares
Ronald M. Bentley0101 (6,978)
Thomas W. Wirth0101 (539)
David J. Dalrymple11020
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.
Deposit Market Share
Deposit Market Share for Selected Markets
Pending Ownership, including Bank, Savings Bank, Thrift Branches
Ownership as of 10/20/2017, Branches and Deposits as of 6/30/2017

COUNTY: Broome, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11M&T Bank Corp. (NY)Bank151,452.853.981,469.955.75
22NBT Bancorp Inc. (NY)Bank7370.213.75345.213.09
33KeyCorp (OH)Bank5303.511.27313.011.87
44Citizens Financial Group Inc. (RI)Bank4260.29.67231.08.76
55TSB Services Inc. (NY)Bank4129.24.80113.04.29
66Chemung Financial Corp. (NY)Bank390.23.3587.13.30
77Peoples Financial Services (PA)Bank251.01.9045.41.72
88Community Bank System Inc. (NY)Bank134.41.2832.11.22
   Total for institutions in market

 412,691.5 2,636.6 
COUNTY: Tompkins, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11Tompkins Financial Corporation (NY)Bank101,252.062.251,179.561.11
22M&T Bank Corp. (NY)Bank3219.510.91183.59.51
35First National Bank of Groton (NY)Bank1101.95.0797.25.04
44Chemung Financial Corp. (NY)Bank3101.35.04106.15.50
53Elmira Savings Bank (NY)Savings Bank294.74.71122.06.32
67First National Bank of Dryden (NY)Bank288.04.3785.44.43
76KeyCorp (OH)Bank282.14.0894.14.87
88TSB Services Inc. (NY)Bank142.62.1237.81.96
99Citizens Financial Group Inc. (RI)Bank124.11.2020.31.05
1010Community Bank System Inc. (NY)Bank15.00.254.20.22
   Total for institutions in market

 262,011.3 1,930.1 
COUNTY: Saratoga, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11Adirondack Trust Company (NY)Bank11944.721.07901.521.14
22KeyCorp (OH)Bank7636.014.19670.915.73
33Bank of America Corp. (NC)Bank3590.013.16517.912.14
44TrustCo Bank Corp NY (NY)Thrift14500.111.15476.711.18
55Arrow Financial Corp. (NY)Bank9464.010.35427.910.03
66Ballston Spa Bancorp Inc. (NY)Bank10370.98.27361.08.46
77Citizens Financial Group Inc. (RI)Bank4268.45.99261.66.13
88NBT Bancorp Inc. (NY)Bank4153.43.42151.23.55
99Toronto-Dominion BankBank2142.83.19129.73.04
1010Pioneer SB (NY)Savings Bank4141.73.16128.73.02
1214Chemung Financial Corp. (NY)Bank161.61.3733.80.79
   Total for institutions in market

 774,483.4 4,265.2 
COUNTY: Albany, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11KeyCorp (OH)Bank2011,414.357.439,018.857.56
22Citizens Financial Group Inc. (RI)Bank122,810.414.141,908.212.18
33M&T Bank Corp. (NY)Bank51,466.67.381,411.69.01
45Bank of America Corp. (NC)Bank101,096.85.52788.15.03
54TrustCo Bank Corp NY (NY)Thrift18958.44.82948.56.05
67Pioneer SB (NY)Savings Bank10517.42.60336.32.15
76Berkshire Hills Bancorp Inc. (MA)Bank10373.41.88342.72.19
88Toronto-Dominion BankBank4370.61.86248.51.59
99NBT Bancorp Inc. (NY)Bank4226.61.14219.91.40
1010Chemung Financial Corp. (NY)Bank4193.90.98187.61.20
   Total for institutions in market

 11319,875.8 15,668.2 
COUNTY: Bradford, PA
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
12Citizens Financial Services (PA)Bank9360.232.12359.232.09
21Citizens & Northern Corp. (PA)Bank7359.132.02366.532.74
33Peoples Ltd. (PA)Bank4201.117.93188.016.79
44M&T Bank Corp. (NY)Bank296.28.5896.18.58
55Chemung Financial Corp. (NY)Bank359.25.2862.75.60
66Community Bank System Inc. (NY)Bank245.64.0646.94.19
   Total for institutions in market

 271,121.3 1,119.4 
COUNTY: Tioga, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11TSB Services Inc. (NY)Bank5202.645.01198.545.25
22Chemung Financial Corp. (NY)Bank3120.126.69112.225.56
33M&T Bank Corp. (NY)Bank138.68.5738.98.86
44Community Bank System Inc. (NY)Bank237.98.4137.88.62
55NBT Bancorp Inc. (NY)Bank134.97.7535.07.98
66KeyCorp (OH)Bank116.03.5616.33.72
   Total for institutions in market

 13450.1 438.8 
STATE: New York
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11JPMorgan Chase & Co. (NY)Bank734581,531.138.54536,752.836.94
24Citigroup Inc. (NY)Bank232112,885.07.48111,778.07.69
32Bank of New York Mellon Corp. (NY)Bank4112,826.17.48126,725.48.72
43HSBC HoldingsBank146106,910.67.09114,703.07.89
55Bank of America Corp. (NC)Bank29886,514.75.7384,586.95.82
67M&T Bank Corp. (NY)Bank27147,278.83.1345,048.93.10
76Capital One Financial Corp. (VA)Bank22045,009.12.9845,649.53.14
89Toronto-Dominion BankBank27036,178.92.4033,704.12.32
98KeyCorp (OH)Bank31033,698.62.2336,130.82.49
1010Signature Bank (NY)Bank3032,785.32.1729,538.62.03
5454Chemung Financial Corp. (NY)Bank301,469.80.101,408.40.10
   Total for institutions in market

 4,9931,508,934.9 1,453,221.1 
COUNTY: Chemung, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11Chemung Financial Corp. (NY)Bank7509.448.97512.650.10
22Elmira Savings Bank (NY)Savings Bank6277.726.69268.426.23
33Financial Institutions Inc. (NY)Bank3150.514.47140.713.75
44Community Bank System Inc. (NY)Bank274.87.1974.67.29
55M&T Bank Corp. (NY)Bank120.71.9918.11.77
66TSB Services Inc. (NY)Bank15.80.557.10.69
77Woodforest Financial Grp Inc. (TX)Bank11.40.141.80.17
   Total for institutions in market

 211,040.4 1,023.2 
COUNTY: Steuben, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11Financial Institutions Inc. (NY)Bank7349.231.78298.729.14
22Steuben Trust Corporation (NY)Bank4198.718.08203.219.83
33Community Bank System Inc. (NY)Bank8187.417.06187.718.31
44Chemung Financial Corp. (NY)Bank3135.412.32123.012.00
55M&T Bank Corp. (NY)Bank371.66.5170.56.88
66Maple City Savings MHC (NY)Thrift164.65.8857.55.61
77Elmira Savings Bank (NY)Savings Bank250.54.5944.54.34
88Citizens & Northern Corp. (PA)Bank241.53.7839.93.89
   Total for institutions in market

 301,099.0 1,025.0 
COUNTY: Schuyler, NY
2017 Rank 2016 Rank Institution
(Headquarters)
Type2017
Number of Branches
2017
Total Deposits
in Market ($M)
2017 Total Market Share (%) 2016
Total Deposits
in Market ($M)
2016 Total Market Share (%)
11Chemung Financial Corp. (NY)Bank2110.454.33105.353.20
22Community Bank System Inc. (NY)Bank151.225.1948.424.43
33Tompkins Financial Corporation (NY)Bank123.311.4625.312.77
44Elmira Savings Bank (NY)Savings Bank118.39.0319.09.61
   Total for institutions in market

 5203.2 198.0 
FAQ
Q: Where is Chemung Financial Corporation's common stock listed?
A: Our common stock is listed on NASDAQ under the symbol CHMG.
For more detailed stock information, please visit our Stock Quote page.

Q: Does Chemung Financial Corporation pay a Dividend?
A: To see a list of our historical dividends, please visit our Dividends page.

Q: How do I change a mailing address?
A: An address can be changed by accessing our Transfer Agent, American Stock Transfer & Trust Company (AST) online, or at (718) 921-8200 or (800) 937-5449. To protect your privacy, address changes are also accepted in writing and can be sent to AST or Chemung Canal Shareholder Services.

Q: How do I change a name on a stock certificate?
A: Stock Certificates must be turned in to our Transfer Agent, American Stock Transfer & Trust Company for transfer to the new name. Please click here for more information.

Q: How do I replace a stale-dated or lost dividend check?
A: A shareholder can have a stale-dated dividend check (six months or older) or a lost dividend check replaced online. Stale-dated or lost dividend check may also be replaced by contacting our Transfer Agent, American Stock Transfer & Trust Company, or Chemung Canal Shareholder Services at the numbers below.

Q: How do I replace a lost certificate?
A: Reissuing a lost stock certificate requires that a bond be issued before its replacement. The cost of the bond to the shareholder is 2% of the current market value of the lost shares. You may begin the replacement process online, or by contacting our Transfer Agent, American Stock Transfer & Trust Company, or Chemung Canal Shareholder Services at the numbers below.

Q: What is the procedure for transferring stock?
A: Our Transfer Agent, American Stock Transfer & Trust Company, or Chemung Canal Shareholder Our Transfer Agent, American Stock Transfer & Trust Company, or Chemung Canal Shareholder Services will assist you with questions regarding transfers of stock. These would include gifts, private party sales, transfers due to death, etc. Click here for online information from our Transfer Agent.

Q: How can I access my account online?
A: Click here to view your account information online.

Q: How do I contact Chemung Canal Shareholder Services, or their Transfer Agent, American Stock Transfer & Trust Company ?
A: American Stock Transfer & Trust Company
6201 15th Avenue, 3rd Floor
Brooklyn, NY 11219
(800) 937-5449 (718) 921-8200

Chemung Canal Shareholder Services
Email: kmckillip@chemungcanal.com
Chemung Financial Corporation
Kathleen S. McKillip, Corporate Secretary
One Chemung Canal Plaza
Elmira, NY 14901
(607) 737-3746
(800) 836-3711
Fax: (607) 735-2050

Q: How can I receive Email alerts from Chemung Financial Corporation?
A: To sign up for Email alerts on our Events, Documents, Press Releases and closing stock price information click here to visit our Email Notification page.

Q: How can I request additional information from Chemung Financial Corporation?
A: You can contact us via our Information Request page.