Quarterly ResultJul 22, 2026, 04:08 PM
Chemung Financial Q2 Net Income $8.8M, EPS $1.82; Reverses Q2 2025 Loss
AI Summary
Chemung Financial Corporation reported net income of $8.8 million, or $1.82 per share, for the second quarter of 2026, a significant turnaround from a net loss of $6.5 million, or $1.35 per share, in the same period last year. The company saw net interest income increase by 18.8% year-over-year and net interest margin expand by 62 basis points to 3.67%. The CEO attributed the positive results to effective balance sheet repositioning, strong commercial loan growth, and increased customer deposits. Additionally, the Bank received conditional approval to convert its state charter to a national bank charter.
Key Highlights
- Q2 2026 Net Income: $8.8 million ($1.82 per share) compared to Q2 2025 Net Loss: $6.5 million ($1.35 per share).
- 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%.
- Annualized Commercial Loan Growth (YTD): 13.0%.
- Annualized Customer Deposit Growth (YTD): 8.3%.
- Total Assets: Increased $110.0 million (4.1%) to $2.820 billion as of June 30, 2026.
- Wealth Management Group AUM: Increased $155.1 million (6.6%) to $2.494 billion.
- Bank received conditional approval to convert to a national bank charter.
Price Impact
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