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PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Parent Company Statement of Financial Position | Condensed parent company only financial statement information of Chemung Financial Corporation is as follows (investment in subsidiaries is recorded using the equity method of accounting) (in thousands):
BALANCE SHEETS - DECEMBER 31 |  | 2020 |  | 2019
Assets: |  |  |  |
Cash on deposit with subsidiary bank |  | $ | 2,243 |  |  | $ | 3,938 |
Investment in subsidiary - Chemung Canal Trust Company |  | 192,364 |  |  | 175,470 |
Investment in subsidiary - CFS Group, Inc. |  | 876 |  |  | 868 |
Investment in subsidiary - Chemung Risk Management, Inc. |  | 2,563 |  |  | 1,954 |
Dividends receivable from subsidiary bank |  | 1,214 |  |  | — |
Securities available for sale, at estimated fair value |  | 377 |  |  | 492 |
Other assets |  | 1,420 |  |  | 1,266 |
Total assets |  | $ | 201,057 |  |  | $ | 183,988 |
Liabilities and shareholders' equity: |  |  |  |
Dividends payable |  | $ | 1,214 |  |  | $ | 1,263 |
Other liabilities |  | 144 |  |  | 98 |
Total liabilities |  | 1,358 |  |  | 1,361 |
Shareholders' equity: |  |  |  |
Total shareholders' equity |  | 199,699 |  |  | 182,627 |
Total liabilities and shareholders' equity |  | $ | 201,057 |  |  | $ | 183,988 |
Parent Company Statement of Income |
STATEMENTS OF INCOME - YEARS ENDED DECEMBER 31 |  | 2020 |  | 2019 |  | 2018
Dividends from subsidiary bank and non-bank |  | $ | 10,806 |  |  | $ | 4,516 |  |  | $ | 3,187 |
Interest and dividend income |  | 5 |  |  | 9 |  |  | 10 |
Non-interest income |  | (50) |  |  | (62) |  |  | (20) |
Non-interest expenses |  | 503 |  |  | 439 |  |  | 477 |
Income before impact of subsidiaries' undistributed earnings |  | 10,258 |  |  | 4,024 |  |  | 2,700 |
Equity in undistributed earnings of Chemung Canal Trust Company |  | 8,204 |  |  | 11,220 |  |  | 16,670 |
Equity in undistributed earnings of CFS Group, Inc. |  | 8 |  |  | (4) |  |  | (32) |
Equity in undistributed earnings of Chemung Risk Management, Inc. |  | 610 |  |  | 205 |  |  | 124 |
Income before income tax |  | 19,080 |  |  | 15,445 |  |  | 19,462 |
Income tax benefit |  | (182) |  |  | (164) |  |  | (164) |
Net income |  | $ | 19,262 |  |  | $ | 15,609 |  |  | $ | 19,626 |
Parent Company Statement of Cash Flows |
STATEMENTS OF CASH FLOWS - YEARS ENDED DECEMBER 31 |  | 2020 |  | 2019 |  | 2018
Cash flows from operating activities: |  |  |  |  |  |
Net Income |  | $ | 19,262 |  |  | $ | 15,609 |  |  | $ | 19,626 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed earnings of Chemung Canal Trust Company |  | (8,204) |  |  | (11,220) |  |  | (16,670) |
Equity in undistributed earnings of CFS Group, Inc. |  | (8) |  |  | 4 |  |  | 32 |
Equity in undistributed earnings of Chemung Risk Management, Inc. |  | (610) |  |  | (205) |  |  | (124) |
Change in dividend receivable |  | (1,214) |  |  | — |  |  | 1,233 |
Change in other assets |  | (154) |  |  | (196) |  |  | (32) |
Change in other liabilities |  | 6 |  |  | (48) |  |  | 773 |
Expense related to employee stock compensation |  | 101 |  |  | 100 |  |  | 89 |
Expense related to restricted stock units for directors' deferred compensation plan |  | 29 |  |  | 42 |  |  | 67 |
Expense to employee restricted stock awards |  | 672 |  |  | 503 |  |  | 405 |
Net cash provided by operating activities |  | 9,880 |  |  | 4,589 |  |  | 5,399 |
Cash flow from financing activities: |  |  |  |  |  |
Cash dividends paid |  | (5,006) |  |  | (5,029) |  |  | (4,969) |
Purchase of treasury stock |  | (7,589) |  |  | (185) |  |  | (112) |
Sale of treasury stock |  | 1,018 |  |  | 585 |  |  | 643 |
Net cash used in financing activities |  | (11,577) |  |  | (4,629) |  |  | (4,438) |
Increase (decrease) in cash and cash equivalents |  | (1,697) |  |  | (40) |  |  | 961 |
Cash and cash equivalents at beginning of year |  | 3,938 |  |  | 3,978 |  |  | 3,017 |
Cash and cash equivalents at end of year |  | $ | 2,241 |  |  | $ | 3,938 |  |  | $ | 3,978 |

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