Chemung Financial Corporation, is a financial holding company. The Company was organized for the purpose of acquiring Chemung Canal Trust Company (the Bank). The Company provides a range of financial services, such as insurance products, mutual funds, and brokerage services. The subsidiaries of the Company include Chemung Canal trust Company and CFS Group, Inc. CFS Group, Inc. offers a range of financial services including mutual funds, full and discount brokerage services, annuity and other insurance products and tax preparation services. The Company manages its operations through two primary business segments: core banking and wealth management group services. The core banking segment provides revenues by attracting deposits from the general public. The wealth management group services segment provides revenues by providing trust and investment advisory services to clients. On April 8, 2011, the Company acquired Fort Orange Financial Corp.(FOFC).