<SEC-DOCUMENT>0001171843-18-004687.txt : 20180615
<SEC-HEADER>0001171843-18-004687.hdr.sgml : 20180615
<ACCEPTANCE-DATETIME>20180615155421
ACCESSION NUMBER:		0001171843-18-004687
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180615
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20180615
DATE AS OF CHANGE:		20180615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHEMUNG FINANCIAL CORP
		CENTRAL INDEX KEY:			0000763563
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				161237038
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35741
		FILM NUMBER:		18902135

	BUSINESS ADDRESS:	
		STREET 1:		ONE CHEMUNG CANAL PLZ
		STREET 2:		P O BOX 1522
		CITY:			ELMIRA
		STATE:			NY
		ZIP:			14902
		BUSINESS PHONE:		6077373711

	MAIL ADDRESS:	
		STREET 1:		ONE CHEMUNG CANAL PLZ
		STREET 2:		P O BOX 1522
		CITY:			ELMIRA
		STATE:			NY
		ZIP:			14902
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_061518.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="margin: 0"></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-indent: 6.5in; border-bottom: Black 0.5pt solid">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">UNITED STATES OF AMERICA</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">Washington, D.C. 20549</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">FORM 8-K</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">CURRENT REPORT</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">Date of Report (Date of earliest
event reported): June 15, 2018 (June 15, 2018)</font></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">CHEMUNG FINANCIAL CORPORATION</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">(Exact name of registrant as specified
in its charter)</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="width: 33%; font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt"><b>New York</b></font></td><td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td>
    <td style="width: 33%; font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt"><b>0-13888</b></font></td><td style="width: 1%; font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td>
    <td style="width: 32%; font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt"><b>16-1237038</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">(State or other jurisdiction</font></td><td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">(Commission File Number)</font></td><td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">(IRS Employer</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">of incorporation)</font></td><td style="font-size: 10pt; font-weight: normal; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="font-size: 10pt; font-weight: normal; text-align: center">&nbsp;</td><td style="text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="text-align: center"><FONT STYLE="font-size: 10pt">Identification No.)</font></td></tr>
</table>


<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">One Chemung Canal Plaza, Elmira, NY 14901</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">(Address of principal executive
offices) (Zip Code)</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">(607) 737-3711</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">(Registrant&rsquo;s telephone number,
including area code)</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><font style="font-weight: normal">[ ] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><font style="font-weight: normal">[ ] Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><font style="font-weight: normal">[ ] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><font style="font-weight: normal">[ ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.16e-4(c))</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR &sect;240.12b-2). Emerging growth company [ ]</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. [ ]</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

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<td style="width: 0"></td><td style="width: 1in">ITEM 8.01</td><td>Other Events</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">On June 15, 2018, Chemung Financial Corporation&rsquo;s
(the &ldquo;Corporation&rdquo;) wholly owned subsidiary, Chemung Canal Trust Company (the &ldquo;Bank&rdquo;), through mediation,
reached a resolution by way of a settlement agreement in the matter of <i>Fane v. Chemung Canal Trust Company</i> (the &ldquo;Action&rdquo;).
The parties have agreed to release each other from any and all liabilities, claims, counterclaims, demands, charges, complaints
and causes of action, to dismiss the Action with prejudice, and the Bank has agreed to pay Fane $3.3 million in connection with
the settlement of the Action. As of March 31, 2018, the Corporation had a legal reserve of $2.3 million for the Action and therefore
will recognize an additional $1.0 million of legal expense during the second quarter of 2018.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">For further discussion of the <i>Fane v. Chemung
Canal Trust Company</i> matter, please refer to Note 8 of the Corporation&rsquo;s March 31, 2018 Form 10-Q filed on May 2, 2018.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

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<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"></p>

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<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">SIGNATURES</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized.</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify"><font style="font-weight: normal">&nbsp;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-indent: 2in">&nbsp;</td><td style="font-size: 10pt; font-weight: normal">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: normal; text-align: left"><b>CHEMUNG FINANCIAL CORPORATION</b></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 50%; font-size: 10pt; font-weight: normal; padding-bottom: 1pt">June 15, 2018</td><td style="width: 1%; font-size: 10pt; font-weight: normal; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 49%; font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1pt">By: <u>/s/ Karl F. Krebs&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-indent: 3.5in">&nbsp;</td><td style="font-size: 10pt; font-weight: normal">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: normal; text-align: left">Karl F. Krebs</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: normal; text-indent: 3.5in">&nbsp;</td><td style="font-size: 10pt; font-weight: normal">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: normal; text-align: left">Chief Financial Officer and Treasurer</td></tr>
</table>


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