Chemung Financial Corporation (NASDAQ: CHMG; “the company”) is a ~$3 billion-asset bank holding company headquartered in Elmira, New York, operating through principal subsidiary, Chemung Canal Trust Company (“the bank”). The franchise spans 30 branches across the Southern Tier and Finger Lakes regions, the Capital District (operating under the “Capital Bank” name), Western New York (“Canal Bank”), and two branches in northern Pennsylvania. CHMG holds dominant market share in its legacy footprint, while Albany and Buffalo remain smaller but expanding through measured organic growth. Although the company has completed select whole-bank, branch, and wealth management acquisitions over time, growth since the mid-2010s has been primarily organic.
CHMG operates core commercial and retail banking services with a commercially centric loan portfolio with investor CRE (including multifamily and C&D; 54%) and C&I (21%) complemented by a sizable residential…
Log in or Sign up for free access to this report.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.