Start here if you're new
what it is
Chemung Financial is a community bank that takes local deposits, makes loans, and sells wealth and insurance products.
how it gets paid
Last year Chemung Financial made $133M in revenue.
why it's growing
Revenue grew 4.1% last year. That is the weird part. Sales grew 191% vs. prior year in the latest quarter.
what just happened
Revenue jumped to $99M, but EPS still fell 6% vs. prior year to $1.53.
At a glance
B+ balance sheet — decent shape, but not bulletproof
65/100 earnings predictability — reasonably predictable
20.6x trailing p/e — priced about right
2.5% dividend yield — cash in your pocket every quarter
$3.15 fy2025 eps est
xvary composite: 57/100 — below average
What they do
Chemung Financial is a community bank that takes local deposits, makes loans, and sells wealth and insurance products.
This bank wins the old-fashioned way: 31 branches across 13 New York counties plus Bradford County, Pennsylvania. It had $2.3 billion in deposits and $2.2 billion in loans at December 31, 2025, which means your customers already trust it with the checking account, mortgage, and business line. Community banking moat (local relationships) → people keep multiple accounts in one place → leaving is annoying and cheap funding tends to stick.
How they make money
$133M
annual revenue · their business grew +4.1% last year
total revenue
$133M
+4.1%
The products that matter
core bank franchise
Chemung Canal Trust Company
$198.1M loan growth · +9.6%
This is the main engine. It added $198.1M of loans in 2025 and paired that with a $129.3M increase in average deposits. Bigger balance sheet, same question: why didn't more of that reach the bottom line.
main driver
wealth and fiduciary services
Fee income
$5.3M shown in non-interest income
Fee income gives a bank something other than loan spread to rely on. That's useful. It just isn't large enough here to offset a 5.3% decline in annual net income on its own.
diversifier
funding base
Deposits
$129.3M average deposit increase
Deposits are bank fuel. More of them usually means cheaper funding and more room to lend. If that funding base does not help margins next, you are left with volume without enough value.
the number to watch
Key numbers
$2.3B
total deposits
That is the raw material of a bank. Against a $258 million market cap, your funding base is almost 9x the equity value.
$113M
long-term debt
Debt equals 30% of capital, which means leverage is real before you even count the ordinary risks that come with taking deposits and making loans.
20.6x
trailing p/e
P/E → price-to-earnings → what you pay for each dollar of profit. At 20.6x, you are not buying this like a distressed bank.
$3.15
2025 EPS est.
That is the current full-year earnings estimate. Against trailing EPS of $2.60 from consensus, the market is betting on a rebound.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 85 / 100
- long-term debt $113M (30% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CHMG right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue jumped to $99M, but EPS still fell 6% vs. prior year to $1.53.
That is the weird part. Sales grew 191% vs. prior year in the latest quarter, yet profit per share still slipped, which tells you revenue quality matters more than raw revenue size for this bank.
$34M
revenue
$1.53
eps
0.0%
gross margin
the number that mattered
EPS fell 6% even with revenue up 191%. Plain English: more business did not turn into more profit.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the main risk is specific, not abstract: CHMG keeps adding loans and deposits, but the extra volume still does not lift earnings. For this bank, that is not a side issue. That is the thesis test.
high
Margin pressure stays the story
Chemung grew loans by $198.1M and average deposits by $129.3M, yet annual net income still fell 5.3% to $23.7M. In plain English: the bank got busier without getting meaningfully more profitable.
If that keeps happening, the current 20.6x trailing p/e stops looking patient and starts looking expensive.
high
Local concentration cuts both ways
You own a relationship bank in New York's Southern Tier and nearby Pennsylvania, not a diversified national lender. That is fine when local demand holds up. It hurts when local credit demand, property activity, or deposit competition cools.
A local slowdown would hit the loan book and the funding base at the same time. Small banks feel that faster.
med
Fee income is helpful, not heroic
Non-interest income is $5.3M in the revenue detail shown here. That gives you some diversification away from pure spread income. It does not look large enough to carry the earnings story if core banking margins stay soft.
If lending economics stay weak, the fee side probably supports results rather than rescues them.
med
Capital structure still matters in stress
The balance sheet carries $113M of long-term debt, equal to 30% of capital. A disclosed deep-subordination risk means some creditors sit ahead of shareholders if things ever get ugly.
This is not the base case. It is the reminder that bank balance sheets deserve respect even when the stock chart looks calm.
A bank that grows loans 9.6% while profit falls 5.3% is already telling you where the pressure sits. If CHMG cannot turn deposit growth and loan growth into higher earnings, the stock's current optimism has less to stand on.
source: institutional data · regulatory filings · risk analysis
Pay attention to
core metric
Whether profit finally follows the loan book
Loans grew by $198.1M last year. Net income fell to $23.7M. You want those lines moving in the same direction next.
next report
The next quarter's margin read
Q4 net income was $7.7M. If the next print still shows balance-sheet growth without earnings lift, the market's patience gets harder to justify.
funding risk
Deposit costs versus loan yields
This is bank math in plain English: if deposits get expensive faster than loans reprice, your earnings spread gets squeezed.
industry trend
Regional bank deal activity
Management has pointed to consolidation among larger banks as an opportunity. That can create sellers, buyers, or sharper competition. Sometimes all three.
Analyst rankings
earnings predictability
65 / 100
in human-speak, the numbers are stable enough for a small bank, but you should still expect some bumps.
risk rank
3
This is a middle-tier safety profile. Not fragile. Not a fortress.
price stability
85 / 100
The stock has been calmer than most small caps. Useful for your nerves. Not a substitute for earnings growth.
source: institutional data
Institutional activity
institutional ownership data for CHMG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$65
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive