Sandler O'Neill Upgrades Chemung Financial (CHMG) to Buy
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Chemung Financial Reports Second Quarter 2015 Net Income of $2.6 Million, or $0.55 Per Share, on Net Interest Income of $12.6 Million
July 23, 2015 4:15 PM EDTELMIRA, N.Y., July 23, 2015 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG), the parent company of Chemung Canal Trust Company ("the Bank"), today reported net income of $2.6 million, or $0.55 per share, for the second quarter of 2015 compared to $1.9 million, or $0.41 per share, for the second quarter of 2014.
Ronald M. Bentley, Chemung Financial Corporation CEO stated:
"The continued growth in our commercial loan portfolio drove a $29 million increase in loans outstanding during the year and a 4.7% increase in net interest income in the second quarter over the same period in the prior year.... More
