Detail akcie Chemung Financial Corp, Ordinary, Consolidated Issue listed on NASDAQ Global Market online

Business Summary: Chemung Financial Corporation is a financial holding company, which operates through its subsidiaries, CFS Group, Inc. (the Bank) and Chemung Risk Management, Inc. (CRM). The Bank provides a range of financial services, including demand, savings and time deposits, commercial, residential and consumer loans, interest rate swaps, letters of credit, wealth management services, employee benefit plans, insurance products, and mutual funds and brokerage services. CRM is a captive insurance company, which insures against certain risks to the operations of the Company and its subsidiaries. The Company has two segments: core banking and WMG. The core banking segment provides attracts deposits from the general public and uses such funds to originate consumer, commercial, commercial real estate, and residential mortgage loans, primarily in the Company’s local markets, and to invest in securities. The WMG services segment provides trust and investment advisory services to clients.
Financial Summary: BRIEF: For the nine months ended 30 September 2023, Chemung Financial Corp. interest income increased 46% to $83M. Net interest income after loan loss provision increased 1% to $55.6M. Net income decreased 1% to $21.2M. Net interest income after loan loss provision reflects Core Banking segment increase of 1% to $55.5M, Holding Company and Other segment increase from $23K to $102K. Net income was offset by Core Banking segment income decrease of 1% to $19.4M.