XML 69 R52.htm IDEA: XBRL DOCUMENT
v3.24.0.1

SEGMENT REPORTING (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Summarized Financial Information Concerning Reportable Segments And Reconciliation To Consolidated Results | The Holding Company, CFS, and CRM column below includes amounts to eliminate transactions between segments as well as income and expenses related to insurance products, mutual funds, brokerage services, and captive insurance (in thousands).
Year ended December 31, 2023 |  | Core Banking |  | WMG |  | Holding Company, CFS and CRM 1 |  | Consolidated Totals
Interest and dividend income |  | $ | 112,947 |  |  | $ | — |  |  | $ | 127 |  |  | $ | 113,074 |
Interest expense |  | 38,617 |  |  | — |  |  | — |  |  | 38,617 |
Net interest income |  | 74,330 |  |  | — |  |  | 127 |  |  | 74,457 |
Provision for credit losses |  | 3,262 |  |  | — |  |  | — |  |  | 3,262 |
Net interest income after provision for credit losses |  | 71,068 |  |  | — |  |  | 127 |  |  | 71,195 |
Non-interest income |  | 13,150 |  |  | 10,460 |  |  | 939 |  |  | 24,549 |
Legal settlements |  | — |  |  | — |  |  | — |  |  | — |
Non-interest expenses |  | 55,982 |  |  | 7,061 |  |  | 1,200 |  |  | 64,243 |
Income (loss) before income tax expense |  | 28,236 |  |  | 3,399 |  |  | (134) |  |  | 31,501 |
Income tax expense (benefit) |  | 5,869 |  |  | 730 |  |  | (98) |  |  | 6,501 |
Segment net income (loss) |  | $ | 22,367 |  |  | $ | 2,669 |  |  | $ | (36) |  |  | $ | 25,000 |
Segment assets |  | $ | 2,706,373 |  |  | $ | 2,627 |  |  | $ | 1,529 |  |  | $ | 2,710,529 |
1 Chemung Risk Management, Inc. (CRM) was dissolved December 6, 2023.
Year ended December 31, 2022 |  | Core Banking |  | WMG |  | Holding Company, CFS and CRM |  | Consolidated Totals
Interest and dividend income |  | $ | 81,425 |  |  | $ | — |  |  | $ | 50 |  |  | $ | 81,475 |
Interest expense |  | 7,296 |  |  | — |  |  | — |  |  | 7,296 |
Net interest income |  | 74,129 |  |  | — |  |  | 50 |  |  | 74,179 |
Provision for loan losses |  | (554) |  |  | — |  |  | — |  |  | (554) |
Net interest income after provision for loan losses |  | 74,683 |  |  | — |  |  | 50 |  |  | 74,733 |
Non-interest income |  | 10,225 |  |  | 10,280 |  |  | 931 |  |  | 21,436 |
Legal settlements |  | — |  |  | — |  |  | — |  | 0 | — |
Non-interest expenses |  | 51,301 |  |  | 6,582 |  |  | 1,397 |  |  | 59,280 |
Income (loss) before income tax expense |  | 33,607 |  |  | 3,698 |  |  | (416) |  |  | 36,889 |
Income tax expense (benefit) |  | 7,361 |  |  | 851 |  |  | (106) |  |  | 8,106 |
Segment net income (loss) |  | $ | 26,246 |  |  | $ | 2,847 |  |  | $ | (310) |  |  | $ | 28,783 |
Segment assets |  | $ | 2,635,043 |  |  | $ | 2,559 |  |  | $ | 7,951 |  |  | $ | 2,645,553 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration