secwatch.observer — SEC 8-K summary
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Issuer:     CHEMUNG FINANCIAL CORP (CHMG)
CIK:        0000763563
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001171843-23-002439
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chemung Financial Q1 net income $7.3M ($1.54/sh), up from $6.9M; loans grow 2.4%
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- Net income $7.3M ($1.54/sh) vs $6.9M ($1.46/sh) in Q1 2022; third-highest quarterly earnings ever.
- Net interest income $19.9M, up 19.6% YoY, driven by loan growth and rising rates.
- Non-performing loans declined to 0.41% of loans; tangible book value per share rose $2.22 to $32.91.
- Loans grew $44.3M (2.4%) from Dec 31, 2022; total assets $2.654B.
- Uninsured deposits 21.2% of total; unused FHLBNY borrowing capacity $111M; no BTFP utilization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763563/000117184323002439/0001171843-23-002439-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763563/000117184323002439/f8k_042023.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002439

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