Chemung Financial Corp ( (CHMG) ) has released its Q3 earnings. Here is a breakdown of the information Chemung Financial Corp presented to its investors.
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Chemung Financial Corporation, headquartered in Elmira, New York, operates as a financial services holding company through its subsidiary, Chemung Canal Trust Company, providing community banking services and financial products. In its third-quarter earnings report for 2025, Chemung Financial Corporation reported a net income of $7.8 million, or $1.62 per share, marking a significant turnaround from the previous quarter’s net loss of $6.5 million. This improvement is attributed to strategic balance sheet repositioning efforts, which have enhanced net interest income and overall financial performance.
The company reported a 9% increase in net interest income compared to the previous quarter, driven by a $1.9 million growth in net interest income. This was largely due to an increase in interest income on loans and a decrease in interest expense on deposits. The average yield on interest-earning assets rose to 5.15%, while the cost of funds decreased to 1.85%. Additionally, the company announced a dividend increase of $0.02 per share, reflecting a 6.3% rise over the prior quarter.
Chemung Financial’s strategic focus on balance sheet optimization has resulted in a 40 basis point increase in net interest margin to 3.45%. The company also reported a significant reduction in non-performing loans, which now stand at 0.35% of total loans, down from 0.43% at the end of 2024. This improvement in asset quality, coupled with a decrease in non-interest expense, underscores the company’s effective management strategies.
Looking forward, Chemung Financial Corporation remains optimistic about its strategic direction and operational resilience. The company continues to focus on relationship banking and is well-positioned to deliver long-term value to its clients, communities, and shareholders, supported by strong credit quality and robust operational performance.