secwatch.observer — SEC 8-K summary
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Issuer:     CHEMUNG FINANCIAL CORP (CHMG)
CIK:        0000763563
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0001171843-23-004584
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chemung Financial Q2 net income $6.3M ($1.33/sh) down from $8.0M YoY; NIM 2.87%
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- Net income $6.3M ($1.33 diluted EPS) vs $8.0M ($1.72) Q2 2022 and $7.3M ($1.54) Q1 2023.
- Net interest income $18.6M (+5.4% YoY); provision for credit losses increased $2.0M YoY.
- Non-interest expense $15.9M (+11% YoY) driven by higher salaries, FDIC insurance, and pension costs.
- Non-performing loans fell to 0.39% of total loans from 0.45% at Dec 2022; total assets $2.675B.
- Tangible common equity ratio improved to 5.87% from 5.51%; book value per share $37.49; dividend $0.31.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763563/000117184323004584/0001171843-23-004584-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763563/000117184323004584/f8k_072023.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-004584

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