CHEMUNG FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Shareholders’ Equity
| (in thousands, except share and per share data) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Total |
|---|---|---|---|---|---|---|
| Balances at June 30, 2023 | $53 | $47,740 | $221,412 | $(17,033) | $(74,746) | $177,426 |
| Net income | — | — | 7,648 | — | — | 7,648 |
| Other comprehensive loss | — | — | — | — | (13,933) | (13,933) |
| Restricted stock awards | — | 289 | — | — | — | 289 |
| Restricted stock units for directors' deferred compensation plan | — | 5 | — | — | — | 5 |
| Distribution of 2,981 shares of treasury stock grants for employee restricted stock awards | — | (86) | — | 86 | — | — |
| Cash dividends declared ($0.31 per share) | — | — | (1,464) | — | — | (1,464) |
| Sale of 2,359 shares of treasury stock (a) | — | 26 | — | 67 | — | 93 |
| Balances at September 30, 2023 | $53 | $47,974 | $227,596 | $(16,880) | $(88,679) | $170,064 |
| Balances at June 30, 2024 | $53 | $48,102 | $239,021 | $(16,043) | $(69,911) | $201,222 |
| Net income | — | — | 5,720 | — | — | 5,720 |
| Other comprehensive income | — | — | — | — | 14,776 | 14,776 |
| Restricted stock awards | — | 309 | — | — | — | 309 |
| Restricted stock units for directors' deferred compensation plan | — | 5 | — | — | — | 5 |
| Cash dividends declared ($0.31 per share) | — | — | (1,475) | — | — | (1,475) |
| Repurchase of 215 shares of common stock | — | — | — | (10) | — | (10) |
| Sale of 2,274 shares of treasury stock (a) | — | 41 | — | 66 | — | 107 |
| Balances at September 30, 2024 | $53 | $48,457 | $243,266 | $(15,987) | $(55,135) | $220,654 |
(a)All treasury stock sales were completed at the prevailing market price with the Chemung Canal Trust Company Profit Sharing, Savings, and Investment Plan which is a defined contribution plan sponsored by the Bank.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
| (in thousands, except share and per share data) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Total |
|---|---|---|---|---|---|---|
| Balances at January 1, 2023 | $53 | $47,331 | $211,859 | $(17,598) | $(75,257) | $166,388 |
| Cumulative effect of accounting change (b) | — | — | (1,076) | — | — | (1,076) |
| Balances at January 1, 2023, as adjusted | 53 | 47,331 | 210,783 | (17,598) | (75,257) | 165,312 |
| Net income | — | — | 21,198 | — | — | 21,198 |
| Other comprehensive loss | — | — | — | — | (13,422) | (13,422) |
| Restricted stock awards | — | 837 | — | — | — | 837 |
| Restricted stock units for directors' deferred compensation plan | — | 15 | — | — | — | 15 |
| Distribution of 7,558 shares of treasury stock grants for employee restricted stock awards | — | (217) | — | 217 | — | — |
| Cash dividends declared ($0.93 per share) | — | — | (4,385) | — | — | (4,385) |
| Distribution of 8,492 shares of treasury stock for directors' compensation | — | (147) | — | 243 | — | 96 |
| Repurchase of 2,148 shares of common stock | — | — | — | (98) | — | (98) |
| Sale of 12,868 shares of treasury stock (a) | — | 144 | — | 368 | — | 512 |
| Forfeiture of 326 shares of restricted stock awards | — | 11 | — | (12) | — | (1) |
| Balances at September 30, 2023 | $53 | $47,974 | $227,596 | $(16,880) | $(88,679) | $170,064 |
| Balances at January 1, 2024 | $53 | $47,773 | $229,930 | $(16,502) | $(66,013) | $195,241 |
| Net income | — | — | 17,757 | — | — | 17,757 |
| Other comprehensive income | — | — | — | — | 10,878 | 10,878 |
| Restricted stock awards | — | 922 | — | — | — | 922 |
| Restricted stock units for directors' deferred compensation plan | — | 15 | — | — | — | 15 |
| Distribution of 5,942 shares of treasury stock grants for employee restricted stock awards | — | (171) | — | 171 | — | — |
| Cash dividends declared ($0.93 per share) | — | — | (4,421) | — | — | (4,421) |
| Distribution of 7,515 shares of treasury stock for directors' compensation | — | (217) | — | 217 | — | — |
| Repurchase of 1,922 shares of common stock | — | — | — | (92) | — | (92) |
| Sale of 7,744 shares of treasury stock (a) | — | 130 | — | 224 | — | 354 |
| Forfeiture of 115 shares of restricted stock awards | — | 5 | — | (5) | — | — |
| Balances at September 30, 2024 | $53 | $48,457 | $243,266 | $(15,987) | $(55,135) | $220,654 |
(a)All treasury stock sales were completed at the prevailing market price with the Chemung Canal Trust Company Profit Sharing, Savings, and Investment Plan which is a defined contribution plan sponsored by the Bank.
(b)Due to implementation of ASC 326.
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