secwatch.observer — SEC 8-K summary
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Issuer:     CHEMUNG FINANCIAL CORP (CHMG)
CIK:        0000763563
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001171843-23-000494
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763563/000117184323000494/0001171843-23-000494-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763563/000117184323000494/f8k_012623.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-000494

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