Chemung Financial Corp

Unity Bancorp, Stock Yards Bancorp, and Chemung Financial announced dividend increases last week, reflecting confidence in their earnings and capital strength. Unity Bancorp raised its quarterly dividend by 6.3% to 17 cents per share, Stock Yards Bancorp increased its payout by 3.1% to 33 cents, and Chemung Financial boosted its dividend by 5.9% to 36 cents. The announcements come as the KBW Nasdaq Bank Index has gained nearly 16% so far in 2026, supported by healthy loan demand and strong fee income. Each company has a history of consistent dividend growth, with Unity Bancorp raising its dividend seven times in the past five years at an annualized rate of 11.2%.

Chemung Financial Corporation reported net income of $8.8 million, or $1.82 per share, for the second quarter of 2026. This compares to net income of $9.2 million, or $1.91 per share, in the first quarter of 2026, and a net loss of $6.5 million, or $1.35 per share, in the second quarter of 2025. Net interest income rose 18.8% year-over-year to $24.7 million, while the fully taxable equivalent net interest margin expanded 62 basis points to 3.67%. Total assets reached $2.820 billion as of June 30, 2026, and the company declared a quarterly dividend of $0.34 per share.