UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.D. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
CHEMUNG FINANCIAL CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
164024 10 1
(CUSIP Number)
Check the following if a fee is being paid with this statement X (A fee is not
required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five perccent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class).
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6 Pages<PAGE>
13G
CUSIP No. 164024 10 1 Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chemung Canal Trust Company Profit Sharing
Savings and Investment Plan E.I. NO. 16-6061469
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) X
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Employee Benefit Plan - Not Applicable
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 205,430
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
PERSON 8. SHARED DISPOSITIVE POWER
WITH 205,430
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
205,430
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9%
12. TYPE OF REPORTING PERSON*
EP
SCHEDULE 13G
Item 1(a) Name of Issuer:
Chemung Financial Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
One Chemung Canal Plaza
Elmira, New York 14901
Item 2(a) Name of Person Filing:
Chemung Canal Trust Company Profit Sharing,
Savings and Investment Plan
Item 2(b) Address or Principal Business Office or, if none,
residence:
One Chemung Canal Plaza
Elmira, New York 14901
Item 2(c) Citizenship:
Employee Benefit Plan - Not Applicable
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
164024 10 1
Item 3 If this statement is filed pursuant to Rules 13d-1(b),
or 13d-2(b), check whether the person filing is a:
(a) ( ) Broker or Dealer registered under Section 15 of the Act
(b) ( ) Bank as defined in Section 3(a)(6) of the Act
(c) ( ) Insurance Company as defined in Section 3(a)(19) of the Act
(d) ( ) Investment Company registered under Section 8 of the
Investment Company Act
(e) ( ) Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) (X) Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund
(g) ( ) Parent Holding Company, in accordance with Section
240.13d-(b)(ii)(G)
(h) ( ) Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
Item 4 Ownership:
If the percent of the class owned, as of December 31 of the year
covered by the statement, or as of the last day of any month described
in Rule 13d-1(b)(2), if applicable, exceeds five percent, provide the
following information as of that date and identify those shares which
there is a right to acquire.
(a) Amount Beneficially Owned:
205,430
(b) Percent of Class:
9.9% based on 2,081,849 shares outstanding on December 31, 1995,
as reported by the issuer.
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct
the vote: 0
(ii) shared power to vote or to
direct the vote: 205,430
(iii) sole power to dispose or to
direct the disposition of: 0
(iv) shared power to dispose or to
direct the disposition of: 205,430
Item 5 Ownership of Five Percent or Less of a Class:
NOT APPLICABLE
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
If any other person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale
of, such securities, a statement to that effect should be included in
response to this item and, if such interest relates to more than five
percent of the class, such person should be identified. A listing of
the shareholders of an investment company registered under the
Investment Company Act of 1940 or the beneficiaries of employee
benefit plan, pension fund or endowment fund is not required.
205,430 shares of Common Stock of Chemung Financial Corporation are
held in trust by the Trust Department of Chemung Canal Trust Company
as trustee under a trust agreement pursuant to the Chemung Canal Trust
Company Profit Sharing, Savings and Investment Plan. The employees of
Chemung Canal Trust Company who participate under said Plan have the
right to direct the voting of, to receive the dividends from and to
receive the proceeds from the sale of said 205,430 shares of Chemung
Financial Corporation Common Stock.
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security being Reported on By the Parent Holding Company:
If a parent holding company has filed this schedule, pursuant to Rule
13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit
stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company has filed this schedule
pursuant to Rule 13d-1(c), attach an exhibit stating the
identification of the relevant subsidiary.
NOT APPLICABLE
Item 8 Identification and Classification of Members of the Group:
If a group has filed this schedule pursuant to Rule
13d-1(b)(ii)(H), so indicate under Item 3(h) and attach an exhibit
stating the identity and Item 3 classification of each member of the
group. If a group has filed this schedule pursuant to Rule 13d-1(c),
attach an exhibit stating the identity of each member of the group.
NOT APPLICABLE
Item 9 Notice of Dissolution of Group:
Notice of dissolution of a group may be furnished as an exhibit
stating the date of the dissolution and that all further filings with
respect to transactions in the securities reported on will be filed,
if required by members of the group in their individual capacity.
NOT APPLICABLE
Item 10 Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.
Dated: February 7, 1996
Signature: CHEMUNG CANAL TRUST COMPANY,
as Trustee
By: /s/ Robert J. Hodgson
Name/Title: Senior Vice President - Trust Services Division
