CHEMUNG FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
CHMG$84.75-0.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (in thousands, except share and per share data) | September 30,2024 | December 31,2023 |
|---|---|---|
| ASSETS | ||
| Cash and due from financial institutions | $36,247 | $22,247 |
| Interest-earning deposits in other financial institutions | 44,193 | 14,600 |
| Total cash and cash equivalents | 80,440 | 36,847 |
| Equity investments, at estimated fair value | 3,244 | 3,046 |
| Securities available for sale, at estimated fair value (amortized cost of $624,955, at September 30, 2024 and $669,092 at December 31, 2023, net of allowance for credit losses of $0 at September 30, 2024 and December 31, 2023, respectively) | 554,575 | 583,993 |
| Securities held to maturity, (estimated fair value of $657 at September 30, 2024 and $785 at December 31, 2023, net of allowance for credit losses of $0 at September 30, 2024 and December 31, 2023, respectively) | 657 | 785 |
| FHLBNY and FRBNY stock, at cost | 4,189 | 5,498 |
| Loans, net of deferred loan fees | 2,028,954 | 1,972,664 |
| Allowance for credit losses | (21,441) | (22,517) |
| Loans, net | 2,007,513 | 1,950,147 |
| Premises and equipment, net | 14,915 | 14,571 |
| Operating lease right-of-use assets | 5,637 | 5,648 |
| Goodwill | 21,824 | 21,824 |
| Bank-owned life insurance | 2,943 | 2,914 |
| Interest rate swap assets | 19,715 | 23,942 |
| Accrued interest receivable and other assets | 58,563 | 61,314 |
| Total assets | $2,774,215 | $2,710,529 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Deposits: | ||
| Non interest-bearing | $616,126 | $653,166 |
| Interest-bearing | 1,834,995 | 1,776,261 |
| Total deposits | 2,451,121 | 2,429,427 |
| Overnight and short-term advances | 50,000 | 31,920 |
| Long term finance lease obligation | 3,757 | 3,050 |
| Operating lease liabilities | 5,820 | 5,827 |
| Dividends payable | — | 1,469 |
| Interest rate swap liabilities | 19,742 | 23,981 |
| Accrued interest payable and other liabilities | 23,121 | 19,614 |
| Total liabilities | 2,553,561 | 2,515,288 |
| Shareholders' equity: | ||
| Common stock, $0.01 par value per share, 10,000,000 shares authorized;5,310,076 issued at September 30, 2024 and December 31, 2023 | 53 | 53 |
| Additional paid-in capital | 48,457 | 47,773 |
| Retained earnings | 243,266 | 229,930 |
| Treasury stock, at cost; 553,499 shares at September 30, 2024 and 572,663 shares at December 31, 2023 | (15,987) | (16,502) |
| Accumulated other comprehensive loss | (55,135) | (66,013) |
| Total shareholders' equity | 220,654 | 195,241 |
| Total liabilities and shareholders' equity | $2,774,215 | $2,710,529 |
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