Chemung Financial CHMG Bank Owned Life Insurance
Bank Owned Life Insurance at other companies
Other financials
Where this comes from
Reported directly by Chemung Financial in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
The official record: Chemung Financial’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →
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Questions, answered.
- What is Chemung Financial's bank owned life insurance?
- Chemung Financial (CHMG) reported bank owned life insurance of $2.71M in Q1 2026.
- How has Chemung Financial's bank owned life insurance changed year-over-year?
- Chemung Financial's bank owned life insurance decreased by 8.4% year-over-year, from $2.96M to $2.71M.
- What is the long-term trend for Chemung Financial's bank owned life insurance?
- Over 5 years (2020 to 2025), Chemung Financial's bank owned life insurance has grown at a -0.5% compound annual growth rate (CAGR), from $3.06M to $2.98M.
- What does bank owned life insurance mean?
- This represents the cash surrender value of life insurance policies purchased by the bank on the lives of key employees or officers. The bank acts as both the policy owner and the beneficiary, using these assets to offset the costs of employee benefit plans. It functions as a tax-advantaged investment vehicle that supports long-term capital management.