Chemung Financial in Elmira, N.Y., has lined up its next chief executive.
The $1.6 billion-asset company said in a press release Thursday that Anders Tomson will succeed Ronald Bentley as its CEO at the end of the year. Tomson is the president and chief operating officer of Chemung's bank.
Bentley, who will remain a director, joined the company in 2006. He became CEO the following year.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
