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Chemung Financial: 4Q Earnings Snapshot

ELMIRA, N.Y. (AP) _ Chemung Financial Corp. (CHMG) on Wednesday reported fourth-quarter net income of $5.7 million, after reporting a loss in the same period a year earlier.

The bank, based in Elmira, New York, said it had earnings of $1.18 per share. Earnings, adjusted for pretax gains, came to $1.09 per share.

The financial holding company posted revenue of $21.8 million in the period. Its revenue net of interest expense was $20.4 million, falling short of Street forecasts.

For the year, the company reported profit of $19.6 million, or $4.06 per share. Revenue was reported as $83.6 million.

Chemung Financial shares have risen almost 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.97, a decrease of 14 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHMG at https://www.zacks.com/ap/CHMG