New Directors Appointed to Chemung Financial Board

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ELMIRA, N.Y., March 31, 2014 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq:CHMG) today announced that G. Thomas Tranter, Jr., of Horseheads, NY, and Thomas R. Tyrrell, of Loudonville, NY, have been appointed to the Board of Directors of Chemung Financial Corporation and Chemung Canal Trust Company.

Mr. Tranter is the President of Corning Enterprises, the collaborative arm of Corning, Inc. that aims to positively impact the economic, cultural, educational and social health of our region. Tranter joined Corning, Inc. in 2000 after serving ten years as Chemung County Executive, having been elected three times to that position. He previously served as Chemung County Deputy Executive, Horseheads Village Manager, and Executive Director of the Chemung/Schuyler Chapter of the American Red Cross.

Mr. Tranter currently serves as co-chairman of the Southern Tier Regional Economic Council for New York State, is vice-chair of the New York State Business Council and vice-chair of Corning Hospital. He serves on the Board of Corning's Gaffer District, the Chemung County Industrial Development Agency and the Southern Tier Central Regional Planning & Development Board. He graduated with a Bachelor of Science from Elmira College, a Masters in professional studies from Alfred University and is a graduate of Cornell University's executive development program.

Mr. Tyrrell, a native of Albany, is the Albany area Chairman of Arthur J. Gallagher & Co., an international service provider of property/casualty insurance and risk management programs. Tyrrell has been in the insurance industry his entire career. He joined Fuller & O'Brien in 1974 and served as President and CEO until 2008, when the company was sold to Arthur J. Gallagher & Co. Throughout his insurance career he has specialized within the construction industry, with particular emphasis on the heavy highway, bridge and general building construction disciplines.

Mr. Tyrrell currently serves as Chairman of the St. Peter's Hospital Foundation Board and is a member of the Board of the Eastern Contractors' Association of New York State, the Empire Broadcasting Company, Maria College of Albany, the Albany Police and Fire Foundation and Saint Gregory's School for Boys. He has also served on the Advisory Board of Capital Bank, the Albany division of Chemung Canal Trust Company. He graduated with a Bachelor of Arts from the College of Holy Cross.

Chemung Financial Corporation is the parent of Chemung Canal Trust Company, headquartered in Elmira, NY, a full-service community bank with full trust powers. Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State. Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance. CFS Group, Inc. was founded in 2001.

This press release may include forward-looking statements with respect to revenue sources, growth, market risk, corporate objectives and possible losses due to asset quality. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Chemung Financial Corporation assumes no duty, and specifically disclaims any obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, and cautions that these statements are subject to risks and uncertainties that could cause the Corporation's actual operating results to differ materially.

CONTACT: Michael J. Wayne Senior Vice President (607) 737-3762

Source:Chemung Financial Corporation