Chemung Financial (CMHG) investor relations material

Executive summary

• Q3 2026 net income was $12.7 million, or $2.63 per diluted share, up from $7.8 million and $1.62 per share YoY; earnings benefited from higher net interest income and a credit recovery.

• Commercial lending growth and lower deposit costs supported earnings amid changing interest rates; the national bank charter conversion was completed in October.

Financial highlights

• Net interest income rose 13.2% YoY to $25.7 million; adjusted pre-provision net revenue increased 24.9% YoY.

• Q3 provision for credit losses was a $2.6 million credit, including a $2.9 million partial recovery from litigation settlement; non-interest expense was $18.1 million, up 2.4% YoY.

• Total assets reached $2.851 billion at Sept. 30, up 5.2% from year-end; loans, net of deferred origination costs, increased $131.5 million.

• Deposits increased $114.6 million from year-end to $2.385 billion; growth came from municipal and commercial inflows, while consumer interest-bearing deposits declined.

Segment performance

• Excluding assets administered for internal purposes, Wealth Management assets under management or administration increased $111.0 million, or 5.5%, from year-end; nine-month fees rose 8.0% YoY to $9.5 million.

• CFS Group client assets totaled $303.4 million; nine-month fee and commission income increased 62.5% YoY to $1.3 million, supported by contractual changes, markets and client growth.

• Commercial loan growth was strongest in Canal Bank and Capital Bank divisions, contributing $90.2 million and $70.8 million, respectively, to the increase since year-end.