In 1902, Arnot as president oversaw the consolidation of the Chemung Canal Bank with the Elmira Trust Company, creating the Chemung Canal Trust Company.

[1] The bank moved to 129 East Water Street in 1920, and then to One Chemung Canal Plaza in 1971.

[1] In 1951, the bank began expanding and opened branches throughout the Twin Tiers.

[4] In 2011, Ronald Bentley was president and CEO of Chemung Financial, and it had 23 full branches and assets of $1 billion.

Chemung Financial Corporation, with a market capitalization of $226mm, employs 339 individuals, earns yearly net income of $25mm on revenues of $113mm and equity of $195mm with more than $2.4bn in deposits.