Net income of $2.1 million for the quarter ended December 31, 2012, represents a decrease of $0.7 million, or 24.8%, from net income of $2.8 million for the preceding quarter ended September 30, 2012. The decline was primarily due to an increase of $1.2 million in non-interest expense, partially offset by a reduction of $0.4 million in income taxes. Earnings per share for the current quarter totaled $0.46 compared with $0.61 for the preceding quarter. Return on average assets and return on average equity for the current quarter were 0.67% and 6.33%, respectively, compared with 0.89% and 8.53%, respectively, for the preceding quarter.Net Interest Income:
Chemung Financial Reports Record Earnings
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