Chemung Financial Q2 2026: Net Income Swings to $8.8M from Year-Ago Loss; NIM Expands 62 bps
CHMG sits 54% above its 52-week low of $48.61 on elevated volume (2.0× avg).
Summary
Chemung Financial reported Q2 2026 net income of $8.8 million, a dramatic improvement from a $6.5 million loss in Q2 2025, as the benefits of its 2025 balance sheet repositioning materialized through higher net interest income and margin expansion.
Key Events · Earnings and Guidance · CHMG
-
Earnings Swing to Profit
Q2 2026 net income of $8.8 million ($1.82 per share) compared to a net loss of $6.5 million ($1.35 per share) in Q2 2025, driven by higher net interest income and lower deposit costs.
-
Net Interest Margin Expansion
Net interest margin expanded 62 basis points year-over-year to 3.67%, as average interest-earning asset yields rose 35 bps to 5.18% while the cost of interest-bearing liabilities fell 30 bps to 2.27%.
-
Strong Loan and Deposit Growth
Total loans grew $97.6 million year-to-date (8.7% annualized), led by commercial loans; total deposits increased $93.3 million, with non-interest-bearing deposits rising to 28.8% of total deposits.
-
Asset Quality Mixed
Non-performing loans increased to $9.2 million (0.39% of total loans) from $7.9 million at year-end 2025, though net charge-offs remained low at 0.01% annualized for the first half of 2026.
Analysis · CHMG · Finance
A sharp turnaround defined Chemung Financial's Q2 2026, with net income reaching $8.8 million compared to a $6.5 million loss a year ago. The improvement was fueled by an 18.8% jump in net interest income and a 62-basis-point expansion in net interest margin to 3.67%. The balance sheet repositioning executed in 2025 is delivering tangible results: loan growth is strong at an 8.7% annualized pace, deposit costs are falling, and capital ratios are improving. However, non-performing loans ticked up to 0.39% of total loans, and the bank is navigating a charter conversion to a national bank, which adds a layer of regulatory transition. The stock is trading near its 52-week high, reflecting market optimism, but the earnings beat and improved profitability metrics reinforce the positive trajectory.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1605 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CHMG was trading at $74.95 on NASDAQ in the Finance sector, with a market capitalization of approximately $361.2M. The 52-week trading range was $48.61 to $78.42. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.