Chemung Financial Corp · NASDAQ:CHMG
Chemung Financial — Shareholder Meeting (May 2018)
52 slides from Chemung Financial's shareholder meeting presentation, May 11, 2018
Slide 1: Annual Shareholders Meeting Thursday, May 10, 2018
Annual Shareholders Meeting Thursday, May 10, 2018
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: Board of Directors: Our Newest Members
Board of Directors: Our Newest Members David M. Buicko Jeffrey B. Streeter Denise V. Gonick
Slide 8: In Memoriam
In Memoriam Nelson Mooers van den Blink Charlie Streeter
Slide 9: Executive Management
Executive Management Anders Tomson , President & CEO
Slide 10: Executive Management
Executive Management Pam Burns Senior Vice President Human Resources Dale Cole Senior Vice President Chief Information Officer Lou DiFabio Executive Vice President Business Client Services
Slide 11: Executive Management
Executive Management Karl Krebs Executive Vice President Chief Financial Officer Kim Hazelton Executive Vice President Retail Client Services Dan Fariello President Capital Bank
Slide 12: Executive Management
Executive Management Duane Mittan Vice President Chief Auditor Kathy McKillip Assistant Treasurer Corporate Secretary Karen Makowski Executive Vice President Chief Risk Officer
Slide 13: Executive Management
Executive Management Tom Wirth Executive Vice President Wealth Management Group Mike Wayne Senior Vice President Director of Marketing
Slide 14: Chemung Financial
‘Chemung Financial
Slide 15: 2017: A Meaningful Year
2017: A Meaningful Year
Slide 16: December 31, 2017 Balance Sheet Totals
December 31, 2017 Total Assets $1.7 billion Total Loans $1.3 billion Total Deposits $1.5 billion Total Shareholders ’ Equity $149.8 million
Slide 17: Wealth Management Group Assets Under Management
Wealth Management Group $2.0 billion Assets Under Management & Administration As of December 31, 2017
Slide 18: Slide 18
Slide 19: 2017 Financial Results
2017 Financial Results NET INCOME: $7.4 million EPS: $1.55 As of December 31, 2017
Slide 20: Interest Rates
Interest Rates
Slide 21: Short-Term vs. Long-Term Rates
0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% Short - Term vs. Long - Term Rates 1 Month Libor 10 Year
Slide 22: Cost of Funds
Cost of Funds CCTC 0.16% Peer Group 0.51% CCTC 0.21% Peer Group 0.40% As of December 31, 2016 As of December 31, 2017
Slide 23: Net Interest Margin
Net Interest Margin 3.91% 3.59% 3.46% 3.37% 3.56% 3.10% 3.20% 3.30% 3.40% 3.50% 3.60% 3.70% 3.80% 3.90% 4.00% 2013 2014 2015 2016 2017 As of December 31, 2017 Fully Taxable Equivalent
Slide 24: Return on Average Assets and Equity
Return on Average Assets Return on Average Equity 0.43% 4.91% As of December 31, 2017
Slide 25: Tangible Book Value
Tangible Book Value 5.0% $26.14 As of December 31, 2017
Slide 26: Year-end Stock Price
Year - end Stock Price 32.3% 12/31/2017 $48.10 12/31/2016 $36.35
Slide 27: Dividends Declared
Dividends Declared $4.9 million $1.04 per share As of December 31, 2017
Slide 28: Loan Balances
Loan Balances 13.2% $98.1 million Commercial 2.9% $13.4 million Consumer/Mortgage As of December 31, 2017
Slide 29: Commercial Loan Balances
680,000,000 700,000,000 720,000,000 740,000,000 760,000,000 780,000,000 800,000,000 820,000,000 840,000,000 860,000,000 31-Dec-16 31-Dec-17 Commercial Loan Balances
Slide 30: Operating Expenses
Operating Expenses 5.0% 2017 $53.8 million 2016 $56.6 million
Slide 31: Full-Time Employees
Full - Time Employees 355 360 365 370 375 380 385 390 395 2014 2015 2016 2017 As of December 31st
Slide 32: Deposit Growth
Total Deposits: $11.1 million Deposit Growth As of December 31, 2017
Slide 33: Expanding Our Digital Services
Expanding Our Digital Services
Slide 34: Contactless Mobile Payment Users
Number of Apply Pay, Samsung Pay & Google Pay contactless users 2017 (in mi ‘APPLE PAY ‘SAMSUNG PAY GOOGLE PAY Source: Juniper Research | 2015 _2016_2017
Slide 35: eBanking Users
eBanking Users • Web Banking: 33,491 • Mobile App: 16,069 • Bill Pay: 7,736 As of December 31, 2017
Slide 36: 2017 Website Users
2017 Website Users • Users: 483,381 • Pageviews : 7,698,177 • Sessions: 2,083,111 January 1 - December 31, 2017
Slide 37: 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 38: Distribution Strategy
Distribution Strategy SCHENECTADY BRANCH WILTON BRANCH INSIDE GENESEE STREET
Slide 39: Small Business Is Big Business
Small Business Is Big Business 2.1 million small businesses in New York State , which makes up 99.8% of all businesses! sba.gov/advocacy/2017 - small - business - profiles - states - and - territories .
Slide 40: Upstate Revitalization Initiative Update
Upstate Revitalization Initiative Update 4 Regions in our Footprint were Awarded: ▪ Capital Region: $98.1 million for 114 projects ▪ Central New York: $122.4 million for 93 projects ▪ Finger Lakes: $120.1 million for 134 projects ▪ Southern Tier: $117 million for 100 projects
Slide 41: Market Teams' Impact
Market Teams’ Impact Increase market share and visibility in targeted areas • Drive revenue, reduce risk & create more sales opportunities to all lines of business Empower local decisions • Communicate community opportunities & challenges Provide an additional venue of colleague development • Enhanc
Slide 42: Slide 42
Slide 43: ‘Gute | HadRatforHumanty | Historical Society | theca Sconce Canter | JORF | Junior
‘Gute | HadRatforHumanty | Historical Society | theca Sconce Canter | JORF | Junior Achievement | Kina Aebieve | ty | Amen | ARCs | Amo rt Museum | Amat Heath | Aubum Pubic Theater | oy Scouts | Broome County Counc of Churches | Bude Walk {ons | Lourdes Foundation | Meas on Wheels | Muitipe Sclerosi
Slide 44: Market Challenges & Uncertainties
Market Challenges & Uncertainties • Balance Sheet/Asset Growth • Interest Rates • Margin Compression • Liquidity
Slide 45: Chemung Canal Trust Company
CHEMUNG CANAL TRUST COMPANY
Slide 46: Happy Retirement, John Potter!
Happy Retirement, John Potter!
Slide 47: Happy Retirement, Mike Crimmins!
Happy Retirement, Mike Crimmins!
Slide 48: Congratulations Retirees!
Congratulations Retirees! Judy Barton Vice President 23 years of service Joe Cascio Vice President 9 years of service Karen Dimmick Assistant Treasurer 18 years of service
Slide 49: Congratulations Retirees!
Congratulations Retirees! Gary Earley Vice President 11 years of service Connie English Assistant Vice President 32 years of service Bonnie Duart Relationship Banker 8 years of service
Slide 50: Congratulations Retirees!
Congratulations Retirees! John Mazzga Mailroom 23 years of service John Wagner Financial Services 6 years of service Bob Roemmelt Vice President 38 years of service
Slide 51: Thank you
Slide 52: Questions?
Questions?