XML 49 R37.htm IDEA: XBRL DOCUMENT v3.24.2.u1

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Summarized Financial Information Showing Reconciliation of Segment Net Income Loss and Assets to Consolidated Results

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

						Three months ended June 30, 2024
						Core Banking						WMG						Holding Company and CFS						Consolidated Totals
Interest and dividend income						$	31,377					$	—					$	9					$	31,386
Interest expense						13,625						—						—						13,625
Net interest income						17,752						—						9						17,761
Provision for credit losses						879						—						—						879
Net interest income after provision for credit losses						16,873						—						9						16,882
Other non-interest income						2,494						2,860						244						5,598
Other non-interest expense						14,110						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 Banking						WMG						Holding Company, CFS, and CRM(1)						Consolidated Totals
Interest and dividend income						$	27,757					$	—					$	39					$	27,796
Interest expense						9,201						—												9,201
Net interest income						18,556						—						39						18,595
Provision for credit losses						236						—												236
Net interest income after provision for credit losses						18,320						—						39						18,359
Other non-interest income						2,701						2,603						143						5,447
Other non-interest expense						13,894						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 Banking						WMG						Holding Company, and CFS						Consolidated Totals
Interest and dividend income						$	62,588					$	—					$	17					$	62,605
Interest expense						26,755						—						—						26,755
Net interest income						35,833						—						17						35,850
Provision for credit losses						(1,161)						—						—						(1,161)
Net interest income after provision for credit losses						36,994						—						17						37,011
Other non-interest income						5,236						5,563						456						11,255
Other non-interest expense						28,649						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 Banking						WMG						Holding Company, CFS, and CRM(1)						Consolidated Totals
Interest and dividend income						$	53,960					$	—					$	66					$	54,026
Interest expense						15,484						—						—						15,484
Net interest income						38,476						—						66						38,542
Provision for credit losses						513						—						—						513
Net interest income after provision for credit losses						37,963						—						66						38,029
Other non-interest income						5,352						5,183						335						10,870
Other non-interest expense						27,590						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.

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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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