ELMIRA, N.Y. — Chemung Financial Corp. (NASDAQ: CHMG), parent company of Chemung Canal Trust Company, reported net income of $2.45 million, or 52 cents a share, in the third quarter, That’s an improvement from a net loss of $319,000, or 7 cents a share, in the year-ago period.
The Elmira–based banking company increased its net income by 2.1 percent, as deposits grew by more than 10 percent and commercial loans rose by over 7 percent.
Chemung Financial, with total assets of $1.63 billion, is a financial-services holding company operating 34 branch offices through its Chemung Canal Trust unit. Established in 1833, Chemung Canal Trust says it is the oldest locally owned and managed community bank in New York state.
(Sponsored)
Time to Prepare for OSHA’s new “Walkaround Rule”
In a development consistent with President Biden‘s growing reputation as leading the most pro-union administration in history, the Occupational Safety and Health Administration (OSHA) has published a rule allowing employees
Can a Generative AI Use Policy for the Workplace Help Protect Sensitive Data?
Artificial intelligence is a buzzword for many industries. It has good and bad effects on the future of creating content, finding information, and other uses. So, what does this mean
Contact The Business Journal News Network at news@cnybj.com
