Chemung Financial issues $45M in 7.75% subordinated notes due 2035

CHEMUNG FINANCIAL CORP

Issued $45M aggregate principal of 7.75% Fixed-to-Floating Rate Subordinated Notes due 2035.
Notes mature June 15, 2035; fixed rate 7.75% until June 15, 2030, then float at 3-month SOFR + 415 bps.
Proceeds to support regulatory capital ratios, growth initiatives, and possible balance sheet restructuring.
Notes qualify as Tier 2 capital at holding company level under Federal Reserve Board capital guidelines.
Private placement under Section 4(a)(2) and Rule 506; not registered under Securities Act.

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