The strong EPS beat and NIM expansion signal continued earnings momentum, but the sharp rise in non-performing loans warrants monitoring in coming quarters for credit quality deterioration. The charter conversion and rebranding may support long-term deposit franchise value.
Price Chart
Executive Summary
Chemung Financial reported Q3 2026 EPS of $2.63, well above the $1.96 consensus estimate, driven by strong net interest income growth of 13.2% YoY and a $2.9 million credit recovery from litigation settlement. Net interest margin expanded to 3.74% from 3.45% a year ago, and the bank completed its national bank charter conversion. However, non-performing loans nearly doubled to $13.8 million (0.57% of total loans) from $7.9 million at year-end 2025, a credit quality concern.
Key Financial Metrics
Key Facts
- Q3 2026 EPS of $2.63 vs consensus $1.96, a 34.2% beat
- Net interest income rose 13.2% YoY to $25.7 million
- Net interest margin expanded to 3.74% from 3.45% a year ago
- Provision for credit losses was a credit of $2.6 million, including a $2.9 million litigation recovery
- Non-performing loans increased to $13.8 million (0.57% of loans) from $7.9 million (0.35%) at Dec 2025
- Dividend increased 5.9% to $0.36 per share
- Completed national bank charter conversion; announced rebranding to Canal Bank & Trust
Financial Impact
EPS beat consensus by $0.67 (34.2%); net interest income up $3.0M YoY; NIM +29bp YoY
Risk Factors
- Non-performing loans nearly doubled from year-end 2025, concentrated in commercial real estate
- Interest rate sensitivity: 25bp Fed rate hike in Q3 may pressure funding costs if deposit competition intensifies
- Consumer loan runoff continues as indirect auto portfolio shrinks
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3386905 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $83.88 | awaiting T+60 | — | $83.88 (−0.00%) |
Oct 22, 2026 4d ago | Press Release | $83.88 | awaiting T+60 | — | $83.88 (−0.00%) |
Oct 1, 2026 25d ago | 8-K | $80.61 | awaiting T+60 | — | $83.88 (+4.06%) |
Aug 19, 2026 9w ago | 8-K | $81.64 | awaiting T+60 | — | $83.88 (+2.74%) |
Aug 19, 2026 9w ago | Press Release | $81.64 | awaiting T+60 | — | $83.88 (+2.74%) |
Jul 22, 2026 13w ago | Press Release | $74.57 $79.60 | ▲ +6.75% | ▲ +2.19% | $83.88 (+12.48%) |
May 8, 2026 24w ago | 8-K | $68.00 $82.37 | ▲ +21.13% | ▲ +16.29% | $83.88 (+23.35%) |
Apr 23, 2026 26w ago | DEFA14A | $66.30 $77.04 | ▲ +16.19% | ▲ +11.17% | $83.88 (+26.52%) |
Apr 17, 2026 27w ago | 8-K | $62.82 $74.76 | ▲ +19.01% | ▲ +12.86% | $83.88 (+33.52%) |
Apr 17, 2026 27w ago | Press Release | $62.82 $74.76 | ▲ +19.01% | ▲ +12.86% | $83.88 (+33.52%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers