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SEGMENT REPORTING
 9 Months Ended
Sep. 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 September 30, 2024
 Core BankingWMGHolding Company and CFSConsolidated Totals
Interest and dividend income$32,353 $— $9 $32,362 
Interest expense13,974 — — 13,974 
Net interest income18,379 — 9 18,388 
Provision for credit losses564 — — 564 
Net interest income after provision for credit losses17,815 — 9 17,824 
Other non-interest income2,623 2,991 305 5,919 
Other non-interest expense14,304 1,897 309 16,510 
Income (loss) before income tax expense (benefit)6,134 1,094 5 7,233 
Income tax expense (benefit)1,277 227 9 1,513 
Segment net income (loss)$4,857 $867 $(4)$5,720 


 Three months ended September 30, 2023
 Core BankingWMG
Holding Company, CFS, and CRM(1)
Consolidated Totals
Interest and dividend income$28,979 $— $36 $29,015 
Interest expense10,998 — — 10,998 
Net interest income17,981 — 36 18,017 
Provision for credit losses449 — — 449 
Net interest income after provision for credit losses17,532 — 36 17,568 
Other non-interest income5,002 2,533 273 7,808 
Other non-interest expense13,597 1,796 275 15,668 
Income (loss) before income tax expense (benefit)8,937 737 34 9,708 
Income tax expense (benefit)1,908 161 (9)2,060 
Segment net income (loss)$7,029 $576 $43 $7,648 
(1)Chemung Risk Management, Inc. (CRM) was dissolved December 6, 2023.
 Nine months ended September 30, 2024
 Core BankingWMGHolding Company, and CFSConsolidated Totals
Interest and dividend income$94,941 $— $26 $94,967 
Interest expense40,729 — — 40,729 
Net interest income54,212 — 26 54,238 
Provision for credit losses(597)— — (597)
Net interest income after provision for credit losses54,809 — 26 54,835 
Other non-interest income7,859 8,554 761 17,174 
Other non-interest expense42,953 5,529 945 49,427 
Income (loss) before income tax expense (benefit)19,715 3,025 (158)22,582 
Income tax expense (benefit)4,224 647 (46)4,825 
Segment net income (loss)$15,491 $2,378 $(112)$17,757 
Segment assets$2,769,437 $2,961 $1,817 $2,774,215 


 Nine months ended September 30, 2023
 Core BankingWMG
Holding Company, CFS, and CRM(1)
Consolidated Totals
Interest and dividend income$82,939 $— $102 $83,041 
Interest expense26,482 — — 26,482 
Net interest income56,457 — 102 56,559 
Provision for credit losses962 — — 962 
Net interest income after provision for credit losses55,495 — 102 55,597 
Other non-interest income10,354 7,716 608 18,678 
Other non-interest expense41,187 5,293 937 47,417 
Income (loss) before income tax expense (benefit)24,662 2,423 (227)26,858 
Income tax expense (benefit)5,215 536 (91)5,660 
Segment net income (loss)$19,447 $1,887 $(136)$21,198 
Segment assets$2,701,959 $2,596 $3,279 $2,707,834 
(1)Chemung Risk Management, Inc. (CRM) was dissolved December 6, 2023.