Chemung Financial Corporation (CHMG) 10-Year Financial Performance & Capital Metrics

CHMG • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutChemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, and time deposits; non-interest and interest-bearing checking accounts; and insured money market accounts. It also offers commercial and agricultural loans comprising loans to small to mid-sized businesses; commercial mortgage loans; residential mortgage loans; consumer loans, including home equity lines of credit and home equity term loans; and interest rate swaps, letters of credit, wealth management, employee benefit plans, mutual fund, insurance products, and brokerage services. Further, it provides securities, insurance, and tax preparation services. Additionally, it offers guardian, custodian, and trustee services, as well as acts as an agent for pension, profit-sharing, and other employee benefit trusts; and various investment, pension, estate planning, and employee benefit administrative services. The company operates 31 branch offices located in 13 counties in New York and Bradford County in Pennsylvania. Chemung Financial Corporation was founded in 1833 and is headquartered in Elmira, New York.Show more

Net Interest Income $74M -0.5%
Total Revenue $150M +9.5%
Net Income $24M -5.3%
Return on Equity 11.53% -16.6%
Net Interest Margin 2.67% -2.9%
Efficiency Ratio 44.16% -4.6%
ROA 0.86% -7.6%
Equity / Assets 7.76% +7.7%
Book Value per Share 45.14 +9.4%
Tangible BV/Share 40.56 +10.7%
Debt/Equity 0.55 +163.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 44.2% efficiency ratio
✓Healthy dividend yield of 2.7%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.57%

5Y11.65%

3Y17.66%

TTM-

Profit (Net Income) CAGR

10Y11.24%

5Y8.68%

3Y-3.6%

TTM-38.42%

EPS CAGR

10Y10.48%

5Y9.09%

3Y-4.19%

TTM-38.63%

ROCE

10Y Avg11.35%

5Y Avg13.21%

3Y Avg13.76%

Latest11.62%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	50.64M	52.33M	56.99M	60.48M	60.61M	62.92M	65.59M	74.18M	74.46M	74.06M
NII Growth %	0.02%	0.03%	0.09%	0.06%	0%	0.04%	0.04%	0.13%	0%	-0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	54.24M	56.17M	60.05M	64.55M	66.93M	66.91M	69.01M	81.47M	113.07M	127.56M
Interest Expense	3.6M	3.84M	3.07M	4.07M	6.32M	3.99M	3.42M	7.3M	38.62M	53.51M
Loan Loss Provision	1.57M	2.44M	9.02M	3.15M	5.95M	4.24M	17K	-554K	3.26M	-46K
Non-Interest Income+	19.75M	20.48M	19.8M	22.21M	19.29M	19.95M	22.83M	20.43M	23.5M	22.05M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	74M	76.65M	79.85M	86.76M	86.22M	86.86M	91.84M	101.91M	136.58M	149.61M
Revenue Growth %	-0.07%	0.04%	0.04%	0.09%	-0.01%	0.01%	0.06%	0.11%	0.34%	0.1%
Non-Interest Expense	54.73M	55.94M	53.07M	55.9M	54.91M	54.76M	54.65M	58.28M	63.2M	66.07M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	14.09M	14.43M	14.69M	23.64M	19.04M	23.87M	33.76M	36.89M	31.5M	30.09M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.19%	0.02%	0.02%	0.61%	-0.19%	0.25%	0.41%	0.09%	-0.15%	-0.04%
Pretax Income+	14.09M	14.43M	14.69M	23.64M	19.04M	23.87M	33.76M	36.89M	31.5M	30.09M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.66M	4.4M	7.26M	4.01M	3.43M	4.61M	7.33M	8.11M	6.5M	6.41M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	9.43M	10.03M	7.43M	19.63M	15.61M	19.26M	26.43M	28.78M	25M	23.67M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.16%	0.06%	-0.26%	1.64%	-0.2%	0.23%	0.37%	0.09%	-0.13%	-0.05%
Net Income (Continuing)	9.43M	10.03M	7.43M	19.63M	15.61M	19.26M	26.43M	28.78M	25M	23.67M
EPS (Diluted)+	2.00	2.11	2.16	4.06	3.21	4.01	5.64	6.13	5.28	4.96
EPS Growth %	0.09%	0.06%	0.02%	0.88%	-0.21%	0.25%	0.41%	0.09%	-0.14%	-0.06%
EPS (Basic)	2.00	2.11	2.16	4.06	3.21	4.01	5.64	6.13	5.28	4.96
Diluted Shares Outstanding	4.72M	4.76M	4.8M	4.83M	4.87M	4.8M	4.68M	4.69M	4.73M	4.77M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	26.18M	74.16M	30.73M	129.97M	121.9M	108.54M	26.98M	55.87M	36.85M	47.03M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.5B	1.49B	1.59B	1.54B	1.58B	2.08B	2.31B	2.47B	2.56B	2.61B
Investments Growth %	0.08%	-0.01%	0.06%	-0.03%	0.02%	0.32%	0.11%	0.07%	0.04%	0.02%
Long-Term Investments	1.16B	1.19B	1.3B	1.3B	1.29B	1.52B	1.51B	1.84B	1.98B	2.19B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	21.82M	21.82M	21.82M	21.82M	21.82M	21.82M	21.82M	21.82M	21.82M	21.82M
Intangible Assets	3.93M	2.94M	2.08M	1.35M	742K	258K	15K	0	0	0
PP&E (Net)	29.4M	28.92M	26.66M	24.98M	30.42M	27.26M	25.2M	22.56M	20.22M	21.82M
Other Assets	8.34M	7.73M	9.75M	6.19M	6.21M	6.21M	7.04M	11.5M	69.73M	76.12M
Total Current Assets	396.46M	404.61M	350.96M	403.8M	436.42M	706.24M	850.75M	747.91M	620.84M	468.77M
Total Non-Current Assets	1.22B	1.25B	1.36B	1.35B	1.35B	1.58B	1.57B	1.9B	2.09B	2.31B
Total Assets+	1.62B	1.66B	1.71B	1.76B	1.79B	2.28B	2.42B	2.65B	2.71B	2.78B
Asset Growth %	0.07%	0.02%	0.03%	0.03%	0.02%	0.27%	0.06%	0.09%	0.02%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	16.78M	14.44M	14.91M	15.52M	19.63M	29.65M	15.1M	17.96M	19.61M	0
Total Debt+	64.43M	41.42M	74.22M	4.3M	12.17M	11.11M	25.54M	105.76M	40.8M	118.52M
Net Debt	38.24M	-32.74M	43.49M	-125.67M	-109.73M	-97.42M	-1.44M	49.89M	3.95M	71.48M
Long-Term Debt	19.2M	9.09M	2M	0	0	0	0	0	0	0
Short-Term Debt	42.35M	27.61M	67.7M	0	0	0	14.57M	95.81M	31.92M	109.11M
Other Liabilities	16.78M	14.44M	14.91M	15.52M	19.63M	29.65M	10.95M	44.73M	43.59M	45.44M
Total Current Liabilities	1.44B	1.49B	1.54B	1.57B	1.57B	2.04B	2.19B	2.42B	2.46B	2.51B
Total Non-Current Liabilities	38.86M	28.26M	21.43M	19.82M	31.8M	40.76M	21.92M	54.67M	52.47M	54.84M
Total Liabilities	1.48B	1.51B	1.56B	1.59B	1.61B	2.08B	2.21B	2.48B	2.52B	2.56B
Total Equity+	137.24M	143.75M	149.81M	165.03M	182.63M	199.7M	211.46M	166.39M	195.24M	215.31M
Equity Growth %	0.02%	0.05%	0.04%	0.1%	0.11%	0.09%	0.06%	-0.21%	0.17%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.07%	0.05%	0.12%	0.09%	0.1%	0.13%	0.15%	0.14%	0.12%
Book Value per Share	29.08	30.19	31.21	34.15	37.51	41.59	45.15	35.45	41.26	45.14
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	53K	53K	53K	53K	53K	53K	53K	53K	53K	53K
Additional Paid-in Capital	45.54M	45.6M	45.97M	45.82M	46.38M	46.76M	46.9M	47.33M	47.77M	48.78M
Retained Earnings	118.97M	124.11M	128.45M	143.13M	153.7M	168.01M	188.88M	211.86M	229.93M	247.71M
Accumulated OCI	-10.94M	-10.75M	-10.34M	-11.41M	-5.8M	2.4M	-6.53M	-75.26M	-66.01M	-65.06M
Treasury Stock	-16.38M	-15.27M	-14.32M	-12.56M	-11.71M	-17.52M	-17.85M	-17.6M	-16.5M	-16.17M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	14.12M	22.14M	23.64M	27.77M	26.41M	28.66M	35.46M	35.05M	30.88M	29.82M
Operating CF Growth %	-0.23%	0.57%	0.07%	0.17%	-0.05%	0.09%	0.24%	-0.01%	-0.12%	-0.03%
Net Income	9.43M	10.03M	7.43M	19.63M	15.61M	19.26M	26.43M	28.78M	25M	23.67M
Depreciation & Amortization	5.18M	5.19M	4.56M	4.17M	4.43M	4.26M	3.5M	3.03M	2.8M	2.02M
Deferred Taxes	774K	-2.56M	4.25M	2.15M	-1.56M	-86K	570K	1.72M	-1.61M	1.12M
Other Non-Cash Items	2.85M	3.85M	10.14M	4.55M	5.87M	6.11M	-3.97M	-25.46M	2.71M	-837K
Working Capital Changes	-4.52M	5.23M	-3.15M	-3.22M	1.46M	-1.66M	8.27M	26.18M	844K	2.61M
Cash from Investing+	-114.65M	-729K	-106.64M	43.92M	-32.71M	-495.85M	-242.48M	-252.62M	-82.38M	-57.72M
Purchase of Investments	-193.14M	-99M	-43.27M	-18.44M	-119.29M	-331.2M	-403.87M	-24.72M	-3.21M	-5.16M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-46.07M	-32.19M	-116.93M	-1.36M	1.21M	-233.68M	17.62M	-316.01M	-141.18M	-103.64M
Cash from Financing+	97.55M	26.57M	39.56M	27.55M	-1.76M	453.82M	125.47M	246.46M	32.48M	38.1M
Dividends Paid	-4.83M	-4.88M	-4.92M	-4.97M	-5.03M	-5.01M	-5.32M	-5.8M	-5.84M	-7.37M
Share Repurchases	0	0	0	0	0	-7.59M	-1.62M	-933K	-316K	-344K
Stock Issued	438K	438K	582K	643K	585K	1.02M	426K	424K	601K	430K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	1000K	-1000K	-219K	-236K	1000K	1000K	-1000K	1000K
Other Financing	119.08M	55.2M	-6.5M	91.79M	2.9M	465.64M	118.08M	172.22M	102.2M	-32.54M
Net Change in Cash+	-2.98M	47.98M	-43.43M	99.24M	-8.07M	-13.37M	-81.56M	28.89M	-19.02M	10.19M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	29.16M	26.18M	74.16M	30.73M	129.97M	121.9M	108.54M	26.98M	55.87M	36.85M
Cash at End	26.18M	74.16M	30.73M	129.97M	121.9M	108.54M	26.98M	55.87M	36.85M	47.03M
Interest Paid	3.63M	3.84M	3.13M	3.99M	6.25M	4.03M	3.47M	6.64M	36.5M	53.02M
Income Taxes Paid	7.05M	4.36M	4.05M	1.73M	4.46M	6M	5.67M	5.63M	7.86M	6.08M
Free Cash Flow+	12.97M	20.45M	22.16M	26M	25.52M	27.79M	35.09M	34.62M	30.42M	26.19M
FCF Growth %	-0.18%	0.58%	0.08%	0.17%	-0.02%	0.09%	0.26%	-0.01%	-0.12%	-0.14%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.95%	7.14%	5.06%	12.47%	8.98%	10.08%	12.85%	15.24%	13.83%	11.53%
Return on Assets (ROA)	0.6%	0.61%	0.44%	1.13%	0.88%	0.95%	1.13%	1.14%	0.93%	0.86%
Net Interest Margin	3.13%	3.16%	3.33%	3.45%	3.39%	2.76%	2.71%	2.8%	2.75%	2.67%
Efficiency Ratio	73.97%	72.98%	66.46%	64.43%	63.69%	63.05%	59.5%	57.19%	46.27%	44.16%
Equity / Assets	8.47%	8.67%	8.76%	9.4%	10.22%	8.76%	8.74%	6.29%	7.2%	7.76%
Book Value / Share	29.08	30.19	31.21	34.15	37.51	41.59	45.15	35.45	41.26	45.14
NII Growth	2.17%	3.33%	8.9%	6.13%	0.22%	3.81%	4.24%	13.1%	0.37%	-0.53%
Dividend Payout	51.23%	48.65%	66.18%	25.32%	32.22%	25.99%	20.12%	20.14%	23.36%	31.11%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
W M G Fee Income	-	-	-	11.07M	10.28M	10.46M	11.57M
W M G Fee Income Growth	-	-	-	-	-7.15%	1.75%	10.64%
Interchange Revenue	4.04M	-	-	4.84M	4.6M	4.61M	4.43M
Interchange Revenue Growth	-	-	-	-	-4.98%	0.07%	-3.91%
Overdraft Fees	-	-	-	2.27M	3.08M	3.1M	3M
Overdraft Fees Growth	-	-	-	-	36.10%	0.39%	-3.20%
Product and Service, Other	-	-	-	2.19M	1.67M	4.14M	1.58M
Product and Service, Other Growth	-	-	-	-	-23.93%	147.87%	-61.86%
Investment Brokerage	-	-	-	1.04M	1.08M	995K	1.05M
Investment Brokerage Growth	-	-	-	-	3.45%	-7.78%	5.93%
Service Charge on Deposits, Other	-	-	-	948K	704K	823K	1.04M
Service Charge on Deposits, Other Growth	-	-	-	-	-25.74%	16.90%	26.97%
Sale of Loans	-	-	-	1.07M	107K	144K	214K
Sale of Loans Growth	-	-	-	-	-90.03%	34.58%	48.61%
Loan Servicing Fees	-	-	-	148K	153K	144K	144K
Loan Servicing Fees Growth	-	-	-	-	3.38%	-5.88%	0.00%
Service Charge on Deposits	-	4.46M	3.13M	-	-	-	-
Service Charge on Deposits Growth	-	-	-29.73%	-	-	-	-
Wealth Management Group Services	9.32M	-	-	-	-	-	-
Wealth Management Group Services Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Chemung Financial Corporation (CHMG) has a price-to-earnings (P/E) ratio of 11.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Chemung Financial Corporation (CHMG) grew revenue by 9.5% over the past year. This is steady growth.

Yes, Chemung Financial Corporation (CHMG) is profitable, generating $13.3M in net income for fiscal year 2024 (15.8% net margin).

Dividend & Returns

Yes, Chemung Financial Corporation (CHMG) pays a dividend with a yield of 2.72%. This makes it attractive for income-focused investors.

Chemung Financial Corporation (CHMG) has a return on equity (ROE) of 11.5%. This is reasonable for most industries.

Industry Metrics

Chemung Financial Corporation (CHMG) has a net interest margin (NIM) of 2.7%. NIM has been under pressure due to interest rate environment.

Chemung Financial Corporation (CHMG) has an efficiency ratio of 44.2%. This is excellent, indicating strong cost control.

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