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One Chemung Canal Plaza
Elmira, NY 14902

Chemung Canal Trust is headquartered in Elmira and is the 39th largest bank in the state of New York. It is also the 458th largest bank in the nation. It was established in 1833 and as of March of 2014, it had grown to 386 employees at 34 locations. Chemung Canal Trust has a B+ health rating.

Reviews (2)

I Love This Bank!!!

I switched to using Chemung Canal as my bank after a bad experience with my last bank. The day I went to the bank, the workers were all very friendly and efficient. They helped me open a new checking account quickly and even gave me some starter checks until the box that I ordered came in. At Chemung Canal, they also offered me over draft protection, which I took, and it makes me feel a lot better about my account. Anytime I have noticed something on my statement that I don't understand, they take the time to explain it to me. I have also had a lot of luck in filing disputes with them and getting my money back. They're a great bank to deal with.

Great Bank!

I used other banks before I used Chemung Canal, but I have never been happier. Every time I need to know my account balance, I just call, and the girls are very helpful. A few months back, I noticed some charges on my account that I didn't recognize. All I had to do was go fill out a simple form, and they took care of the rest, getting me my money back in my account. I also like how friendly and easy going through the drive-up is. The bank offers web banking which makes things more convenient. Also, they're all really nice when I take my dog through by giving him treats.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Chemung Canal Trust had $17.44 million in non-current loans and owned real-estate with $148.26 million in equity and loan loss allowances on hand to cover it. This gives Chemung Canal Trust a Texas Ratio of 11.77% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Chemung Canal Trust experienced no significant changes from 8.80% as of March 31, 2013 to 11.77% as of March 31, 2014, resulting in a negative change of 33.67%. This indicates that the balance sheet and financial strength for Chemung Canal Trust has had no significant changes in recent periods.

Deposit Growth


In the past year, Chemung Canal Trust has increased its total deposits by $212.78 million, resulting in 19.65% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Chemung Canal Trust has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Chemung Canal Trust has $1.5 billion in assets with $148.26 million in equity, resulting in a capitalization level of 9.91%, which is above average.

Institution Statistics

FDIC Certificate #597
Year Established1833
Primary RegulatorFED
Assets and Liabilities
Assets$1.50 billion
Loans$1.01 billion
Deposits$1.30 billion
Equity Capital$135.10 million
Loan Loss Allowance$13.16 million
Unbacked Noncurrent Loans$17.20 million
Real Estate Owned$241,000
Historic Data - March 2013
Assets$1.28 billion
Equity Capital$128.07 million
Loan Loss Allowance$10.83 million
Unbacked Noncurrent Loans$17.20 million
Real Estate Owned$565,000
Profit Margin - Quarterly
Net Interest Margin3.52%
Return on Assets0.55%
Return on Equity6.12%
Interest Income$12.95 million

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Chemung Canal Trust Savings Account Rates

0.05%$25-Statement Savings

Chemung Canal Trust Money Market Rates

0.20%$25k-Prestige IMMA
0.10%$2,500-Money Market

Chemung Canal Trust Checking Account Rates

0.05%$1k-NOW Checking

Chemung Canal Trust CD Rates

0.90%$1k-60 Month CD
0.90%$1k-84 Month CD
0.55%$1k-48 Month CD
0.50%$25k-25 Month Special CD
0.50%$1k-36 Month CD
0.40%$1k-15 Month CD
0.35%$1k-10 Month Special CD
0.35%$1k-24 Month CD
0.35%$1k-30 Month CD
0.20%$1k-5 Month Special CD
0.20%$1k-12 Month CD
0.20%$1k-18 Month CD
0.10%$1k-6 Month CD
0.05%$2,500-7 - 89 Day CD
0.05%$1k-3 Month CD

Chemung Canal Trust IRA Rates

0.90%$1k-60 Month IRA
0.90%$1k-84 Month IRA
0.55%$1k-48 Month IRA
0.50%$25k-25 Month Special IRA
0.50%$1k-36 Month IRA
0.40%$1k-15 Month IRA
0.35%$1k-10 Month Special IRA
0.35%$1k-24 Month IRA
0.35%$1k-30 Month IRA
0.20%$100-18 Month Variable IRA
0.20%$1k-5 Month Special IRA
0.20%$1k-12 Month IRA
0.20%$1k-18 Month IRA
0.10%$1k-6 Month IRA
0.05%$1k-3 Month IRA

Chemung Canal Trust has 28 locations. Click to view all Chemung Canal Trust locations.