Chemung Financial EVP Thomas Wirth to Retire in Q3

ELMIRA, NY – Chemung Financial Corporation (NASDAQ:CHMG) announced today that Thomas W. Wirth, Executive Vice President (EVP) responsible for the Wealth Management Group of Chemung Canal Trust Company, plans to retire in the third quarter of 2025. Wirth, who has been with the bank since 1987, became EVP in June 2015 after serving in various roles, including Senior Vice President responsible for Investment Services. The announcement comes as the company maintains strong financial performance, with InvestingPro data showing a healthy 12% return on equity and a notable track record of 52 consecutive years of dividend payments.

The news of Wirth’s retirement came through a recent filing with the Securities and Exchange Commission (SEC). According to the filing, Wirth’s departure is due to health reasons and not because of any disagreements with the company. Wirth’s contributions to the bank have been highlighted as significant to its growth and success over the years.

Chemung Financial expressed its gratitude for Wirth’s dedication and service, emphasizing his instrumental role in the corporation’s development. The company has initiated the process to find a successor, and Wirth is expected to maintain his current responsibilities until an appropriate replacement is appointed. He will also assist with the transition following the appointment of a new EVP.

The bank’s filing also included standard financial documents and cover page interactive data files as exhibits. This announcement comes as part of the regular reporting requirements set by the SEC, ensuring transparency for investors and the public.

Chemung Financial Corporation, headquartered in Elmira, New York, is the parent company of Chemung Canal Trust Company. As a state commercial bank, it has been serving the community since its establishment and continues to play a pivotal role in the region’s financial services industry.

This report is based on statements from a press release and provides investors with updates on the company’s executive movements. Chemung Financial Corporation has not disclosed any additional details regarding the search for Wirth’s successor or the transition plan.

In other recent news, Chemung Financial Corporation announced an increase in its quarterly cash dividend to $0.32 per share. This dividend boost, representing a 3.2% rise from the previous payout, will be distributed on April 1, 2025, to shareholders on record as of March 18, 2025. The increase is attributed to the company’s strong financial performance, as highlighted by Anders M. Tomson, President and CEO of Chemung Financial Corporation. This development indicates the company’s commitment to rewarding its shareholders and reflects its current financial health. The announcement comes from a press release by Chemung Financial Corporation, underscoring the institution’s dedication to providing value to its investors.

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