secwatch.observer — SEC 8-K summary
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Issuer:     CHEMUNG FINANCIAL CORP (CHMG)
CIK:        0000763563
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001171843-24-002089
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chemung Financial Q1 2024 net income $7.1M ($1.48/sh); loans exceed $2B
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- Net income of $7.1M ($1.48/sh) vs. $3.8M ($0.80) in Q4 2023 and $7.3M ($1.54) in Q1 2023.
- Total loans exceeded $2.0B for first time, growing $30.9M during Q1; NIM expanded 4 bps to 2.73%.
- Non-performing loans fell to 0.39% of loans from 0.53% in Q4; allowance for credit losses declined to 1.02% from 1.14%.
- Net interest income $18.1M, +1.1% sequentially but -8.8% YoY; provision for credit losses decreased $4.3M from Q4.
- Dividends declared $0.31 per share; book value per share $41.35.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763563/000117184324002089/0001171843-24-002089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763563/000117184324002089/f8k_041824.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002089

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