Chemung Financial (CHMG) - 2022 Q4 - Annual Report

Deposits The growth in deposits was attributable to an increase of $206.0 million in time deposits, $73.5 million of which were one-way brokered deposits, offset by decreases of $13.7 million in insured money market accounts, $13.1 million in interest-bearing demand deposits, $6.3 million in non-interest bearing demand deposits, and $1.2 million in savings deposits. Capital Lease Obligations and FHLBNY Advances The increase in capital lease obligations and FHLBNY advances can be mostly attributed to $81.2 m ...