Chemung Financial reports record annual EPS of $6.13; Q4 net income $1.58/share

CHEMUNG FINANCIAL CORP

2022-FY EPS reported $6.13

Full-year net income $28.8M ($6.13 EPS) vs $26.4M ($5.64 EPS) YoY; Q4 net income $7.4M ($1.58 EPS) vs $6.5M ($1.38 EPS).
Net interest margin expanded to 3.05% for 2022 (from 2.84%) and 3.26% for Q4 (from 2.85% prior year).
Loans excl. PPP grew $353.6M or 23.97% YoY; non-performing loans improved to 0.45% of total loans from 0.54%.
Allowance for loan losses decreased to $19.7M after releasing $2.4M pandemic-related portion; no pandemic reserve remains.
Book value per share fell to $35.32 from $45.09 due to $68.7M decline in accumulated OCI from securities fair value drop.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHEMUNG FINANCIAL CORP reported three and twelve month periods ended December 31, 2022 results: net income $28.8 million, EPS $6.13 per share.

Period: three and twelve month periods ended December 31, 2022
Net income: $28.8 million
EPS: $6.13 per share
Result: reported results

Exact text from the filing

On January 26, 2023, Chemung Financial Corporation (Nasdaq: CHMG) issued a press release describing its results of operations for the three and twelve month periods ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHEMUNG FINANCIAL CORP reported fourth quarter of 2022 results: net income $7.4 million, EPS $1.58 per share.

Period: fourth quarter of 2022
Net income: $7.4 million
EPS: $1.58 per share
Result: reported results

Exact text from the filing

Net income was $7.4 million, or $1.58 per share, for the fourth quarter of 2022

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Source: SEC EDGAR

accession 0001171843-23-000494

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