Chemung Financial Corp (CHMG) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE CHEMUNG CANAL PLZ
ELMIRA, NY 14902
State of Incorp. NY
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments55,86926,981111,080124,078131,88131,717
Cash and cash equivalents55,86926,981108,538121,904129,97230,729
Short-term investments   2,5422,1741,909988
Total current assets:55,86926,981111,080124,078131,88131,717
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    
Operating lease, right-of-use asset6,4497,2347,145 
Property, plant and equipment 16,11317,96920,11922,41724,98026,657
Long-term investments and receivables      3,000
Long-term investments      3,000
Intangible assets, net (including goodwill)10,21621,83922,08222,56623,17523,909
Goodwill21,82421,82421,82421,82421,82421,824
Intangible assets, net (excluding goodwill) (11,608)152587421,3512,085
Total noncurrent assets:32,77847,04249,34644,98348,15553,566
Other undisclosed assets2,556,9062,344,4522,119,0251,618,7661,575,3071,622,337
TOTAL ASSETS:2,645,5532,418,4752,279,4511,787,8271,755,3431,707,620
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      67,700
Total current liabilities:      67,700
Noncurrent Liabilities
Long-term debt and lease obligation      2,000
Long-term debt, excluding current maturities      2,000
Total noncurrent liabilities:      2,000
Other undisclosed liabilities2,479,1652,207,0202,079,7521,605,2001,590,3141,488,107
Total liabilities:2,479,1652,207,0202,079,7521,605,2001,590,3141,557,807
Equity
Equity, attributable to parent166,388211,455199,699182,627165,029149,813
Common stock535353535353
Treasury stock, value(17,598)(17,846)(17,525)(11,710)(12,562)(14,320)
Additional paid in capital47,33146,90146,76446,38245,82045,967
Accumulated other comprehensive income (loss)(75,257)(6,530)2,401(5,799)(11,411)(10,340)
Retained earnings211,859188,877168,006153,701143,129128,453
Total equity:166,388211,455199,699182,627165,029149,813
TOTAL LIABILITIES AND EQUITY:2,645,5532,418,4752,279,4511,787,8271,755,3431,707,620

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues81,58270,08168,63767,19964,90477,950
Net investment income81,47569,00866,90766,93264,55360,055
Financial services revenue17,895
Cost of revenue (17)(4,239)(5,945)(14)(43)
Provision for loan, lease, and other losses (17)(4,239)(5,945)(14)
Financial services costs(43)
Gross profit:81,58270,06464,39861,25464,89077,907
Operating expenses(18,586)(18,396)(17,474)(17,568)(19,483)(17,774)
Other operating expense, net(56,379)(52,297)(53,406)(54,002)(54,287)(51,276)
Other expenses (59,280)(55,682)(55,935)(55,696)(56,766)(53,764)
Operating income (loss):6,617(629)(6,482)(10,316)(8,880)8,857
Nonoperating income1,7541,6191,099505926108
Gains (losses) on sales of other real estate60(16)(79)(99)9038
Bank owned life insurance income4652161636670
Net periodic defined benefits expense (reversal of expense), excluding service cost component1,6481,5831,017541770
Interest and debt expense(7,296)(3,419)(3,988)(6,321)(4,073)(3,068)
Other undisclosed income from continuing operations before equity method investments, income taxes      8,795
Income (loss) from continuing operations before equity method investments, income taxes:1,075(2,429)(9,371)(16,132)(12,027)14,692
Other undisclosed income from continuing operations before income taxes35,81436,18933,24035,17535,662 
Income from continuing operations before income taxes:36,88933,76023,86919,04323,63514,692
Income tax expense(8,106)(7,335)(4,607)(3,434)(4,009)(7,262)
Income from continuing operations:28,78326,42519,26215,60919,6267,430
Income before gain (loss) on sale of properties:26,42519,26215,60919,6267,430
Net income available to common stockholders, diluted:28,78326,42519,26215,60919,6267,430

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:28,78326,42519,26215,60919,6267,430
Other comprehensive income (loss)(93,150)(12,941)10,8567,670(1,222)3,155
Comprehensive income (loss):(64,367)13,48430,11823,27918,40410,585
Other undisclosed comprehensive income (loss), net of tax, attributable to parent24,4234,010(2,656)(2,058)353(904)
Comprehensive income (loss), net of tax, attributable to parent:(39,944)17,49427,46221,22118,7579,681

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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