Chemung Financial Corp · NASDAQ:CHMG
Chemung Financial — Shareholder Meeting (May 2017)
52 slides from Chemung Financial's shareholder meeting presentation, May 12, 2017
Slide 1: Annual Shareholders Meeting Thursday, May 11, 2017
Annual Shareholders Meeting Thursday, May 11, 2017
Slide 2: Forward-looking Statements
Forward - looking Statements This discussion contains forward - looking statements within the meaning of Section 27 A of the Securities Act, Section 21 E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995 . The Corporation intends its forward - looking statements to be cov
Slide 3: Board of Directors
Board of Directors David J. Dalrymple Anders M. Tomson Larry H. Becker
Slide 4: Board of Directors
Board of Directors Bruce W. Boyea Robert H. Dalrymple Ronald M. Bentley
Slide 5: Board of Directors
Board of Directors Stephen M. Lounsberry III John F. Potter Clover M. Drinkwater
Slide 6: Board of Directors
Board of Directors Richard W. Swan G. Thomas Tranter Jr. Thomas R. Tyrrell Kevin B. Tully
Slide 7: Executive Management
Executive Management Anders Tomson , President & CEO
Slide 8: Executive Management
Executive Management Pam Burns Senior Vice President Human Resources Mike Crimmins Senior Vice President Support Services Lou DiFabio Executive Vice President Business Client Services
Slide 9: Executive Management
Executive Management Karl Krebs Executive Vice President Chief Financial Officer Karen Makowski Executive Vice President Chief Risk Officer Kim Hazelton Executive Vice President Retail Client Services
Slide 10: Executive Management
Executive Management Mike Wayne Senior Vice President Director of Marketing Kathy McKillip Assistant Treasurer Corporate Secretary Tom Wirth Executive Vice President Wealth Management Group
Slide 11: Annual Shareholders Meeting Thursday, May 11, 2017
Annual Shareholders Meeting Thursday, May 11, 2017
Slide 12: Anders Tomson, President & CEO
Anders Tomson , President & CEO
Slide 13: Market Challenges & Uncertainties
Market Challenges & Uncertainties
Slide 14: Chemung Canal Trust Company
nt HEMUNG CANAL TRUST COMPANY
Slide 15: 2016 Financial Results
2016 Financial Results NET INCOME: $10.0 million EPS: $2.11 For the year ended December 31, 2016.
Slide 16: Tangible Book Value
Tangible Book Value $24.89 5.8% As of December 31, 2016
Slide 17: Return on Average Assets and Equity
Return on Average Assets Return on Average Equity 0.60% 7.02% For the year ended December 31, 2016.
Slide 18: Year-end Stock Price
Year - end Stock Price 32.2% 12/31/2016 $36.35 12/31/2015 $27.50
Slide 19: Dividends Declared
Dividends Declared $4.9 million $1.04 per share For the year ended December 31, 2016.
Slide 20: Net Income
Net Income 6.3% 2016 $10.0 million 2015 $9.4 million For the years ending December 31, 2015 and 2016.
Slide 21: Interest Rates
Interest Rates
Slide 22: Net Interest Margin
Net Interest Margin 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 2012 2013 2014 2015 2016 4.14% 3.91% 3.59% 3.46% 3.37% For the years ended December 31.
Slide 23: Peer Group Net Interest Margin
For the year ended December 31, 2016. 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 Peer Group Net Interest Margin
Slide 24: Non-Interest Expense, Non-GAAP
Non - Interest Expense, Non - GAAP 55,000 55,200 55,400 55,600 55,800 56,000 56,200 2014 2015 2016 *Non - Interest expense (Non - GAAP) is non - interest expense (GAAP) less legal accruals and settlements less M&A expenses. For the years ended December 31.
Slide 25: Our Market Footprint
Our Market Footprint
Slide 26: Information Technology Strategic Plan
3 - Year Information Technology Strategic Plan ▪ Clarify technology expectations ▪ Focus on IT/Business alignment ▪ Drive system improvements ▪ Maintain infrastructure stability ▪ Update key risk management programs
Slide 27: Digital Channels
Digital Channels
Slide 28: Retail Transformation
Retail Transformation 1,900,000 1,950,000 2,000,000 2,050,000 2,100,000 2,150,000 2,200,000 2,250,000 2,300,000 2,350,000 2,400,000 2014 2015 2016 Branch Teller Transactions For the years ended December 31.
Slide 29: Facility Efficiencies
Facility Efficiencies Genesee Street, Auburn The Commons, Ithaca
Slide 30: Compensation
Compensation
Slide 31: Full-Time Employees
Full - Time Employees 355 360 365 370 375 380 385 390 395 2014 2015 2016 For the years ended December 31.
Slide 32: Corporate Tax Rate
Corporate Tax Rate 2016 30.5% 2015 33.1% For the years ended December 31, 2015 and 2016.
Slide 33: Organic Asset Growth
Organic Asset Growth
Slide 34: Wealth Management Group
Wealth Management Group $1.7 billion Assets Under Management & Administration As of December 31, 2016
Slide 35: Schenectady
Schenectady
Slide 36: Loan Balances
Loan Balances 6.5% $45.5 million Commercial (3.0%) ($13.8 million) Consumer/Mortgage For the year ended December 31, 2016.
Slide 37: Deposit Growth
Deposit Growth 4.1% $21.8 million Demand Deposits 3.7% $39.3 million Core Deposits, Non - GAAP Core deposits (non - GAAP) equals total deposits less brokered and time deposits. For the year ended December 31, 2016.
Slide 38: Municipal Deposits
Municipal Deposits 0 50 100 150 200 250 300 350 2015 2016 Total Municipal Deposits (millions) # of Municipalities For the year ended December 31.
Slide 39: Commercial Loan Balances
Commercial Loan Balances 64.1% 12/31/2016 $745 million 12/31/2012 $454 million
Slide 40: Capital Region Loan Growth
Capital Region Loan Growth 127% 12/31/2016 $563 million 12/31/2012 $248 million
Slide 41: Deposits
Deposits Excludes deposits from Capital Region 41% 12/31/2016 $1.25 b illion 12/31/2012 $888 million
Slide 42: Non-Performing Assets to Total Assets
Non - Performing Assets to Total Assets 0.75% Credit quality remains strong. As of December 31, 2016
Slide 43: Deposit Costs
Deposit Costs CCTC 0.15% Peer Group 0.25 % For the year ended December 31, 2016.
Slide 44: December 31, 2016 Balance Sheet Summary
December 31, 2016 Total Assets $1.7 billion Total Loans $1.2 billion Total Deposits $1.5 billion Total Shareholders ’ Equity $143.7 million
Slide 45: Upstate Revitalization Initiative
Upstate Revitalization Initiative Focuses on 4 regions in our footprint: ▪ Capital Region ▪ Central New York ▪ Finger Lakes ▪ Southern Tier
Slide 46: Making A Difference
Making A Difference Achieve | Albany Medical Center | American Cancer Society | American Heart Association | ARCs Arnot Art Museum | Arnot Health | Auburn Public Theater | Boy Scouts | Broome County Council of Churches | Buddy Walk | Capital City Rescue Mission | Capital Region Sponsor - A - Scholar
Slide 47: Congratulations Retirees!
Congratulations Retirees! Carol Bastion Teller 8 years of service Lucimar Foo Siam - Escudero Vice President 25 years of service Craig Heffner Vice President 17 years of service
Slide 48: Congratulations Retirees!
Congratulations Retirees! Sandra Jessup Resource Recovery 20 years of service Roger Laughlin Computer Operations 20 years of service Chris Loughridge Vice President 9 years of service
Slide 49: Congratulations Retirees!
Congratulations Retirees! Gail Seccia Relationship Banker 5 years of service Robin Welch Mortgage Originator 11 years of service Kenneth Wilson Vice President 6 years of service
Slide 50: Best Wishes Ron!
Best Wishes Ron! Ron Bentley Retired President & CEO
Slide 51: Thank you
Slide 52: Questions?
Questions?