Chemung Financial: Pay

Chemung Financial paid its 5 named executives $3.7M in total in FY2025 (Dec). CEO Anders M. Tomson was paid $1.4M of that.

Pay$100 in the stock at the end of FY20 → $160
CEO pay is from each proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Pay of each named executive

Anders M. TomsonPresident and CEO
FY2025 (Dec)
FY2024 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
4 years
Dale M. McKim IIIExecutive Vice President, CFO and Treasurer
FY2025 (Dec)
FY2024 (Dec)
2 years
Jeffrey P. KenefickRegional President (1) The amounts shown for salary represent the base salary paid to the NEO during 2025, 2024 and 2023, respectively, and the amounts shown for bonus represent amounts earned in 2025, 2024, and 2023, respectively. (2) The amounts shown for Mr. Tomson reflect the grant date fair value as reported in Note 14 of the Corporation's audited consolidated financial statements contained in the Corporation's 2025 Annual Report on Form 10-K. The awards granted during 2025 are restricted and fully vest at the end of the month following the first anniversary of the grant date. (3) The amounts shown reflect the grant date fair value as reported in Note 14 of the Corporation's audited consolidated financial statements contained in the Corporation's 2025 Annual Report on Form 10-K. Awards vest in five equal installments over a five-year period at the end of the month following the first anniversary of the grant date. (4) The amounts shown reflect the grant date fair value as reported in Note 14 of the Corporation's audited consolidated financial statements contained in the Corporation's 2025 Annual Report on Form 10-K. Awards vest in five equal installments over a five-year period from the date of grant. (5) The amounts shown include non-discretionary and matching contributions made by the Bank to the 401(k) Plan, dividends paid on unvested restricted stock, Defined Contribution SERP contributions and perquisites such as car allowance, personal portion of Bank-owned vehicles and club memberships. The specific amounts are set forth in the "All Other Compensation Table for 2025" below. (6) Mr. Kenefick became an NEO for the first time in 2025, and pursuant to SEC rules, compensation for prior years is not required to be reported.
FY2025 (Dec)
1 year
Peter K. CosgroveExecutive Vice President and CCO
FY2025 (Dec)
FY2024 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
4 years
Daniel D. FarielloPresident, Capital Bank Division
FY2025 (Dec)
FY2024 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
4 years

CEO pay against the pay peers

In FY2025 (Dec), the median CEO pay of the 11 peers with pay on file was $1.8M. The CEO of Chemung Financial was paid $1.4M, 22% below the median.

  1. 1Orrstown Financial Services
  2. 2Civista Bancshares
  3. 3Mid Penn Bancorp
  4. 4Greene County Bancorp
  5. 5Bar Harbor Bankshares
  6. 6Acnb
  7. 7Arrow Financial
  8. 8Chemung Financial
  9. 9Fidelity D & D Bancorp
  10. 10Citizens Financial Services
  11. 11Peoples Financial Services
  12. 12Lcnb
  13. 13Citizens & NorthernNot disclosed
  14. 14ENB Financial Corp.Not disclosed
  15. 15Farmers National Banc Corp.Not disclosed
  16. 16Financial Institutions, Inc.Not disclosed
  17. 17Franklin Financial Services Corp.Not disclosed
  18. 18Orange County Bancorp, Inc.Not disclosed
  19. 19Pioneer Bancorp, Inc.Not disclosed
  20. 20Rhinebeck Bancorp, Inc.Not disclosed
  21. 21SB Financial Group, Inc.Not disclosed
  22. 22The First Bancorp, Inc.Not disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.