Chemung Canal Trust Co.
Chemung Canal Trust Company is a community-focused commercial bank headquartered in Elmira, New York, and was founded in 1833. It is the oldest locally owned and managed community bank in New York, operating as a wholly-owned subsidiary of Chemung Financial Corporation. The bank offers a broad range of banking, lending, wealth management, fiduciary, and insurance services primarily for individuals, families, and small to medium-sized businesses in the Southern Tier, Finger Lakes, Western, and Capital regions of New York, as well as northern Pennsylvania. As of 2023, the bank operates 28 branches in New York and two in Pennsylvania, serving its regions with a staff of 343 employees.
Investment Strategy
Chemung Canal Trust Company applies a community banking model, focusing on providing personalized banking, lending, and wealth management solutions tailored to individuals, businesses, and institutions in its service regions. Its investment and fiduciary services are client-specific, with financial planning and asset management strategies designed according to each client's risk tolerance, goals, and financial situation. The bank actively engages in community development lending and investments, aligning with its role as a regional economic partner, and has a track record of supporting local initiatives through both lending and grants.
Top Holdings
Equity Positions (118)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
X XLK | SECTOR SPDR | 8.11% | $40.7M | 144,439 | $117.69 | $281.86 | +$4.5M |
I IVV | ISHARES | 6.96% | $34.9M | 52,209 | $543.70 | $669.30 | +$65.7K |
M MSFT | MICROSOFT | 5.05% | $25.3M | 48,941 | $55.99 | $517.95 | +$710.3K |
A AGG | ISHARES | 4.46% | $22.4M | 223,189 | $98.13 | $100.25 | +$898.4K |
C CHMG | CHEMUNG | 3.20% | $16.1M | 305,643 | $27.10 | $52.52 | +$941.3K |