Chemung Financial Posts $2.63 EPS, $31.98M in Combined Net Interest and Noninterest Income

Chemung Financial Corporation posted third-quarter net income of $12.707 million, compared with $7.792 million a year earlier, as interest income grew and a litigation-related recovery reduced credit-loss provisions.

For the quarter ended Sept. 30, 2026, GAAP and non-GAAP basic and diluted earnings per share were each $2.63. Net income also rose from $8.810 million in the second quarter.

Net interest income increased 13.2% year over year to $25.674 million. Noninterest income climbed 3.6%, from $6.088 million to $6.307 million. The two separately listed items sum to $31.981 million; Chemung did not label that combined amount as revenue.

A $2.9 million partial recovery on a commercial and industrial loan participation followed settlement of related litigation. Chemung recorded a $2.602 million credit in its provision for credit losses, primarily because of the $2.9 million settlement recovery; the same line showed $1.064 million in expense in Q3 2025.

Nonperforming loans totaled $13.8 million, or 0.57% of total loans, as of Sept. 30, 2026. As of Dec. 31, 2025, they were $7.9 million, or 0.35% of total loans.

“Steady commercial loan growth and disciplined management of funding costs continue to support earnings as we navigate a dynamic interest rate environment,” said Anders M. Tomson, Chemung Financial’s president and CEO.