Chemung Financial Corp 2025年度报告

CHEMUNG SCHUYLER One Chemung Canal Plaza, Elmira628 W. Church St., Elmira100 W. McCanns Blvd., Elmira Heights29 Arnot Rd., Horseheads ALBANY 303 W. Main St., Montour Falls318 N. Franklin St., Watkins Glen 132 State St., Albany65 Wolf Rd., Albany581 Loudon Rd., Latham SENECA54 Fall St., Seneca Falls BRADFORD5 W. Main St., Canton159 Canton St., Troy STEUBEN CORTLAND1094 Highway 222, Cortland ERIE5529 Main St., Williamsville BROOME 127 Court St., Binghamton100 Rano Blvd., Vestal 203 Main St., Owego405 Chemung St., WaverlyTOMPKINS 4th Quarter3rd Quarter SARATOGA25 Park Ave., Clifton Park3057 Route 50, Saratoga Springs CAYUGA110 Genesee St., Auburn185 Grant Ave., Auburn 909 Hanshaw Rd., Ithaca304 Elmira Rd., Ithaca December 31, 2024 SCHENECTADY2 Rush St., Schenectady 4th Quarter3rd Quarter Technological change continues to shape our landscape, influencing how customers engage with their financial institutionsand how those institutions manage risk, efficiency, and growth. Advances in artificial intelligence, data analytics, andautomation are creating new opportunities to enhance decision making, personalize service, and streamline operations. 2025 Annual Letter to ShareholdersDear Shareholders, Chemung Financial Corporation delivered positive results in 2025, demonstrating the ongoing strength of our strategyand the effectiveness of our operating model. By remaining true to our community banking roots, we continue to serve our Our commitment to secure, user centered innovation extends across our digital services. Collectively, these services reflectour ongoing emphasis to deliver a strong and reliable digital experience that meets the evolving needs of consumers andbusinesses alike. In 2025, we launched a comprehensive redesign of our websites to better reflect the evolving expectations Net income and earnings per share were $15.1 million and $3.14, which included the impact of balance sheet repositioningefforts and the sale of a former branch property, each occurring in the second quarter. Excluding the impact of one-time The Corporation’s stock performed well, moving positively with the market and outperforming peers in both share price andtotal shareholder return. We increased our dividend by $0.03, or 9.7 percent, and total shareholder return was 17.3 percent. Our Cash Management Department adopted several new solutions to simplify interactions and enhance security. Together,these tools reduce friction, eliminate manual steps, and give businesses more confidence and control in their financialworkflows. Looking ahead, we will be overhauling our consumer and business digital banking services to provide improved Loan growth was robust across the franchise, with total loans rising nearly 10 percent and commercial loansgrowing 14 percent. We increased our allowance for credit losses to align with this robust loan growth,while our percentage of non performing loans and non performing assets remained low. Non- Colleagues & Community A significant leadership transition occurred during the year with the retirement of Thomas W. Wirth,Executive Vice President and Wealth Management Group Manager. Tom spent his entire careerwith the Company, starting in 1987, and his impact on our clients and communities has been The Canal Bank Division delivered strong results as we continued to execute our strategicgrowth plan in Western New York. The Williamsville banking center led all branches in newconsumer loan production and landed atop the franchise’s performance scorecard. Bothdeposit and loan growth have exceeded expectations, and commercial lending in the Support of our communities is central to our mission. Every day, our employeesvolunteer with not-for-profit organizations that make an important difference in thelives of our clients, families, friends and neighbors. It is inspiring to see so many withleadership roles that strengthen the quality of life for so many.In 2025, 72 percent of To support the momentum at Canal Bank, we added seasoned leaders to our WealthManagement and Business Banking teams during the year, strengthening ourpresence in this important market. Due to this expanded staffing, we leased spacefor a new representative office located in the heart of Downtown Buffalo at 500 Pearl With tremendous respect and admiration, we acknowledge the passing of retired CEOand former Chairman of the Board John “Jack” Bennett, and retired board memberWilliam “Bill” Eggers. We will remember their many years of service and their enduring The Chemung Canal and Capital Bank regions also had strong performances. In theChemung Canal region, commercial loan balances grew nearly 12 percent, supported bycontinued credit discipline. Capital Bank’s commercial loan portfolio surpassed $1.2 billion Conclusion Overall, 2025 was a strong year for our shareholders, clients, colleagues, and communities.We improved operating leverage, strengthened our balance sheet, expanded services, and The Company’s