secwatch.observer — SEC 8-K summary
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Issuer:     CHEMUNG FINANCIAL CORP (CHMG)
CIK:        0000763563
Form:       8-K
Filed at:   2025-06-12T23:59:59+00:00
Accession:  0001171843-25-003862
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Chemung Financial sells $242M securities at $17M pre-tax loss; issues $45M sub notes
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- Sold $242M available-for-sale securities (2.1% avg yield, ~3 yr avg life), realizing $17M pre-tax loss in Q2 2025.
- Issued $45.0M of 7.75% Fixed-to-Floating Rate Subordinated Notes due 2035 on June 10, 2025; qualifies as Tier 2 capital.
- Expects a net loss for Q2 2025, but no impact on book value per share as unrealized losses already in equity.
- Proceeds to reduce higher-cost non-core funding and support organic loan growth in expansion markets.
- Favorable impact on net income, NIM, ROAA, and ROAE expected beginning Q3 2025; Bank remains well capitalized.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763563/000117184325003862/0001171843-25-003862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763563/000117184325003862/f8k_061225.htm
  HTML page:      https://secwatch.observer/filing/0001171843-25-003862

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