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Chemung Canal Trust Company, Financial Information

AboutChemung Canal Trust Company

 Address:
One Chemung Canal Plaza
Elmira,NY
Chemung County,New York
 Established:
Oct 1833
 Number of domestic offices:
32
Total assets$2,274M
Net income$18M
Net income,quarterly$5M
Total deposits$2,041M
Domestic deposits$2,041M
Equity capital$192M
ROA0.9%
ROAQ,quarterly0.88%
ROA,pretax0.88%
ROAQ,quarterly,pretax1.12%
ROE9.77%
ROEQ,quarterly10.21%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Chemung Canal Trust Company is an independent community bank which has served the financial needs of businesses and individuals for over 175 years. Since October 22, 1833, Chemung Canal Trust Company has provided continuous, progressive financial and credit services to this area. The first bank statement dated November 2, 1833, 10 days after opening for business, showed assets of $318,525, with deposits of $10,390.

Chemung Canal Trust Company has a unique history of having been both a public corporation and a private family bank. When originally chartered, the bank issued stock and was publicly owned. In 1857, John Arnot's family gained control of the bank and operated a private family bank for 46 years. In 1903, the bank returned to public ownership and added trust powers to its general banking activities.

Historical Data