trending Market Intelligence /marketintelligence/en/news-insights/trending/iq1v9r5sx4cf1se9dnrhzg2 content esgSubNav
In This List

Chemung Financial unit settles case for $3.3M

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Chemung Financial unit settles case for $3.3M

Chemung Financial Corp. unit Chemung Canal Trust Co. settled the matter of Fane v. Chemung Canal Trust Co. The bank agreed to pay Fane $3.3 million, according to a company filing.

The parties agreed to dismiss the action with prejudice and to release each other from any and all liabilities, claims, counterclaims, demands, charges, complaints and causes of action.

As of March 31, Elmira, N.Y.-based Chemung Financial had a legal reserve of $2.3 million for the action; it will now recognize an additional $1.0 million of legal expense during the second quarter.