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Chemung Financial (CHMG) in Elmira, N.Y., has named Karl Krebs as its new chief financial officer.
October 17 -
Chemung Financial in Elmira, N.Y., has agreed to buy six branches in upstate New York from Bank of America.
July 11 -
Cordia Bancorp (BVA) in Midlothian, Va., has hired Mark Severson as chief financial officer.
September 20
The subsidiary of Chemung Financial in Elmira, N.Y., has sold its equity securities portfolio.
The $1.5 billion-asset company said in a Tuesday
This transaction will increase Chemung's fourth-quarter net income by about $3.9 million, or 83 cents per share, the company said. Furthermore, Chemung's Tier 1 capital will increase to approximately $110 million, according to figures from the Federal Deposit Insurance Corporation.
The company completed this sale to "optimize the benefits it obtains from its long-term holding positions of the assets sold, including capital treatment by bank regulators," the regulatory filing said.
