Quarterly ResultJul 22, 2026, 04:14 PM
Chemung Financial Q2 Net Income $8.8M, EPS $1.82; NIM Expands
AI Summary
Chemung Financial Corporation reported net income of $8.8 million, or $1.82 per share, for the second quarter of 2026. This represents a significant improvement from a net loss of $6.5 million in the prior year's second quarter, though slightly down from $9.2 million in the first quarter of 2026. The company highlighted strong operating results driven by an 18.8% increase in net interest income and a 62 basis point expansion in net interest margin year-over-year, benefiting from its 2025 balance sheet repositioning. Loan and deposit growth remained robust, and the company received conditional approval for its national bank charter conversion.
Key Highlights
- Chemung Financial reported Q2 2026 net income of $8.8 million, or $1.82 per share.
- This compares to net income of $9.2 million ($1.91/share) in Q1 2026 and a net loss of $6.5 million ($1.35/share) in Q2 2025.
- Net interest income increased $3.9 million (18.8%) year-over-year to $24.7 million.
- Net interest margin expanded 62 basis points year-over-year to 3.67% in Q2 2026.
- Year-to-date annualized loan growth was 8.7%, with commercial loan growth at 13.0%.
- Year-to-date annualized customer deposit growth was 8.3%, with non interest-bearing deposits at 28.8% of total.
- Total assets increased $110.0 million (4.1%) to $2.820 billion as of June 30, 2026.
- Wealth Management Group assets under management increased $155.1 million (6.6%) to $2.494 billion.
Price Impact
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