CHEMUNG FINANCIAL CORP CHMG Income Statement

Chemung financial corp (CHMG)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest and dividend income:
Loans, including fees
58,245	57,840	52,840	49,677	48,271	47,139	45,136	45,298	43,180	35,064	36,094
Taxable securities
5,265	4,804	5,503	5,239	4,958	5,043	4,391	5,357	5,874	6,327	7,136
Tax exempt securities
1,152	1,153	1,149	945	939	967	1,100	1,268	1,378	1,188	1,131
Federal funds sold
-	-	-	-	-	-	-	-	-	-	1
Interest-earning deposits
2,270	756	563	307	76	64	36	153	214	166	126
Interest and Dividend Income, Operating
66,932	64,553	60,055	56,168	54,244	53,213	50,663	52,076	50,647	42,745	44,490
Interest expense:
Deposits
6,173	3,323	2,168	2,170	2,003	2,043	2,350	3,181	4,284	5,624	8,428
Securities sold under agreements to repurchase
0	137	478	849	848	848	858	994	1,375	1,640	1,954
Borrowed funds
148	613	422	-	-	-	-	-	-	-	-
Borrowed funds
-	-	-	820	751	754	824	1,059	1,073	950	951
Interest Expense
6,321	4,073	3,068	3,839	3,602	3,645	4,032	5,234	6,732	8,215	11,334
Net interest income
60,611	60,480	56,987	52,329	50,642	49,568	46,631	46,842	43,915	34,530	33,155
Provision for loan losses
5,945	3,153	9,022	2,437	1,571	3,981	2,755	828	958	1,125	2,450
Net interest income after provision for loan losses
54,666	57,327	47,965	49,892	49,071	45,587	43,876	46,014	42,956	33,405	30,705
Non-interest income:
Net gains on securities transactions
19	0	109	-	-	-	-	-	-	-	-
Net gains on security transactions
-	-	-	987	-	-	-	-	-	-	-
Equity Securities, FV-NI, Gain (Loss)
81	2,004	80	43	-	-	-	-	-	-	-
Changes in fair value of equity investments
81	2,004	80	43	-	-	-	-	-	-	-
WMG fee income
-	-	-	-	8,522	7,747	7,344	6,827	6,709	10,496	8,088
Service charges on deposit accounts
-	-	-	-	4,886	5,281	4,706	4,241	4,281	4,552	5,263
Interchange revenue from debit card transactions
-	-	-	-	3,307	3,360	2,562	-	-	-	-
Net gains on securities transactions
-	-	-	-	372	6,869	16	301	1,108	450	784
Net impairment loss on investment securities
-	-	-	-	-	-	29	0	-	-	-
Total impairment losses
-	-	-	-	-	-	-	-	67	393	-2,242
Loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	0	0	0
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-67	-393	-2,242
Net gains on sales of loans held for sale
248	351	260	326	294	301	503	484	179	241	258
Casualty gains
-	-	-	-	-	-	-	790	0	0	-
Gains (Losses) on Sales of Other Real Estate
-99	90	38	21	84	-64	28	-45	91	-	-
Gain from bargain purchase
-	-	-	-	-	-	470	0	0	-	-
Credit card merchant earnings
-	-	-	-	-	-	-	-	-	-	178
Gains on sales of other real estate owned
-	-	-	-	-	-	-	-	-	42	24
Income from bank-owned life insurance
63	66	70	73	75	78	84	87	88	87	51
Other
1,694	2,479	2,408	2,267	2,907	3,184	2,393	4,503	5,071	4,166	3,303
Total non-interest income
20,073	23,074	20,491	21,149	20,447	26,756	18,077	17,188	17,462	19,644	15,709
Non-interest expenses:
Salaries and wages
23,420	22,322	21,476	20,954	21,223	21,315	19,365	18,918	17,136	15,343	-15,055
Pension and other employee benefits
5,902	5,524	5,510	4,850	5,908	5,733	5,939	5,624	-	-	-
Other components of net periodic pension and postretirement benefits
-541	-770	-1,234	1,282	-	-	-	-	-	-	-
Pension and other employee benefits
-	-	-	-	-	-	-	-	4,796	3,866	5,096
Net occupancy
5,969	6,550	6,263	6,837	7,006	7,098	5,501	5,164	5,015	4,334	4,283
Furniture and equipment
2,497	2,550	2,828	2,967	2,979	2,972	2,326	2,205	2,118	1,948	1,996
Data processing
7,386	6,997	6,539	6,593	6,586	6,393	4,750	4,421	3,915	3,364	4,078
Professional services
1,885	2,169	1,774	2,175	1,293	1,597	928	1,443	949	698	-
Legal accruals and settlements
0	989	850	1,200	0	4,250	0	0	-	-	-
Amortization of intangible assets
609	700	860	1,000	1,136	1,310	921	1,047	1,041	730	933
Marketing and advertising
932	1,181	794	877	899	1,079	1,033	1,068	1,037	929	-
Losses on sales of other real estate owned
-	-	-	-	-	-	-	-	-	17	29
Other real estate owned
115	422	110	180	812	247	194	328	104	348	163
FDIC insurance
537	1,142	1,236	1,193	1,075	1,116	866	807	967	1,196	1,512
Loan expense
787	863	694	669	693	811	779	788	607	519	-
Merger and acquisition related expenses
-	-	-	-	-	115	1,387	30	2,255	482	0
Other
6,198	6,093	6,064	5,847	5,817	6,441	5,411	4,952	4,901	4,060	6,172
Total non-interest expenses
55,696	56,766	53,764	56,610	55,427	60,477	49,400	46,795	44,848	37,842	39,321
Income before income tax expense
19,043	23,635	14,692	14,431	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
-	-	-	-	14,091	11,866	12,553	16,407	15,570	15,207	7,093
Income Tax Expense (Benefit)
3,434	4,009	7,262	4,404	4,658	3,709	3,822	5,385	5,033	5,105	1,860
Net income
15,609	19,626	7,430	10,027	9,433	8,157	8,731	11,022	10,537	10,101	5,232
Weighted average shares outstanding (in shares)
4,869	4,832	4,800	4,762	4,719	4,683	4,660	4,641	4,382	-	-
Basic and diluted earnings per share (in dollars per share)
3.21	4.06	1.55	2.11	2.00	1.74	1.87	2.38	2.40	-	-
Weighted average shares outstanding (in shares)
-	-	-	-	-	-	-	-	-	3,606	3,603
Basic and diluted earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	2.80	1.45
WMG fee income
Revenue from contract with customer, excluding assessed tax
9,503	9,317	8,804	-	-	-	-	-	-	-	-
Revenue from contract with customer, excluding assessed tax
-	-	-	8,316	-	-	-	-	-	-	-
Service charges on deposit accounts
Revenue from contract with customer, excluding assessed tax
4,460	4,727	4,961	5,089	-	-	-	-	-	-	-
Interchange revenue from debit card transactions
Revenue from contract with customer, excluding assessed tax
4,104	4,040	3,761	4,027	-	-	-	-	-	-	-