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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Corporation manages its operations through two primary business segments: core banking and WMG. The core banking segment provides revenues by attracting deposits from the general public and using such funds to originate consumer, commercial, commercial real estate, and residential mortgage loans, primarily in the Corporation’s local markets, and to invest in securities. The WMG services segment provides revenues by providing trust and investment advisory services to clients.

Accounting policies for the segments are the same as those described in Note 1 of the Corporation’s 2023 Annual Report on Form 10-K, which was filed with the SEC on March 13, 2024. Summarized financial information concerning the Corporation’s reportable segments and the reconciliation to the Corporation’s consolidated results are shown in the following table. Income taxes are allocated based on the separate taxable income of each entity and indirect overhead expenses are allocated based on reasonable and equitable allocations applicable to the reportable segment.

The Holding Company and CFS columns below include amounts to eliminate transactions between segments (in thousands).


 Three months ended June 30, 2024
 Core BankingWMGHolding Company and CFSConsolidated Totals
Interest and dividend income$31,377 $— $9 $31,386 
Interest expense13,625 — — 13,625 
Net interest income17,752 — 9 17,761 
Provision for credit losses879 — — 879 
Net interest income after provision for credit losses16,873 — 9 16,882 
Other non-interest income2,494 2,860 244 5,598 
Other non-interest expense14,110 1,737 372 16,219 
Income (loss) before income tax expense (benefit)5,257 1,123 (119)6,261 
Income tax expense (benefit)1,077 238 (41)1,274 
Segment net income (loss)$4,180 $885 $(78)$4,987 


 Three months ended June 30, 2023
 Core BankingWMG
Holding Company, CFS, and CRM(1)
Consolidated Totals
Interest and dividend income$27,757 $— $39 $27,796 
Interest expense9,201 — 9,201 
Net interest income18,556 — 39 18,595 
Provision for credit losses236 — 236 
Net interest income after provision for credit losses18,320 — 39 18,359 
Other non-interest income2,701 2,603 143 5,447 
Other non-interest expense13,894 1,699 320 15,913 
Income (loss) before income tax expense (benefit)7,127 904 (138)7,893 
Income tax expense (benefit)1,476 198 (61)1,613 
Segment net income (loss)$5,651 $706 $(77)$6,280 
(1)Chemung Risk Management, Inc. (CRM) was dissolved December 6, 2023.
 Six months ended June 30, 2024
 Core BankingWMGHolding Company, and CFSConsolidated Totals
Interest and dividend income$62,588 $— $17 $62,605 
Interest expense26,755 — — 26,755 
Net interest income35,833 — 17 35,850 
Provision for credit losses(1,161)— — (1,161)
Net interest income after provision for credit losses36,994 — 17 37,011 
Other non-interest income5,236 5,563 456 11,255 
Other non-interest expense28,649 3,632 636 32,917 
Income (loss) before income tax expense (benefit)13,581 1,931 (163)15,349 
Income tax expense (benefit)2,947 420 (55)3,312 
Segment net income (loss)$10,634 $1,511 $(108)$12,037 
Segment assets$2,751,272 $2,873 $1,668 $2,755,813 


 Six months ended June 30, 2023
 Core BankingWMG
Holding Company, CFS, and CRM(1)
Consolidated Totals
Interest and dividend income$53,960 $— $66 $54,026 
Interest expense15,484 — — 15,484 
Net interest income38,476 — 66 38,542 
Provision for credit losses513 — — 513 
Net interest income after provision for credit losses37,963 — 66 38,029 
Other non-interest income5,352 5,183 335 10,870 
Other non-interest expense27,590 3,497 662 31,749 
Income (loss) before income tax expense (benefit)15,725 1,686 (261)17,150 
Income tax expense (benefit)3,307 375 (82)3,600 
Segment net income (loss)$12,418 $1,311 $(179)$13,550 
Segment assets$2,667,404 $2,584 $4,685 $2,674,673 
(1)Chemung Risk Management, Inc. (CRM) was dissolved December 6, 2023.