trending Market Intelligence /marketintelligence/en/news-insights/trending/iq1v9r5sx4cf1se9dnrhzg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Chemung Financial unit settles case for $3.3M

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


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.