8-K

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):		May 3, 2007
Commission file number: 0-13888
CHEMUNG FINANCIAL CORPORATION (Exact name of Registrant as specified in its charter)
New York (State or other jurisdiction of incorporation or organization)		16-123703-8 (I.R.S. Employer Identification No.)
One Chemung Canal Plaza, Elmira, NY 14901 (Address of principal executive offices) (Zip Code) (607) 737-3711 (Registrant's telephone number including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(B) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.01.	COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On May 3, 2007, Chemung Canal Trust Company, subsidiary bank of Chemung Financial Corporation, completed its acquisition of trust assets from Partners Trust Bank, a subsidiary of Partners Trust Financial Group, Inc., at a purchase price of approximately $5.2 million. A press release announcing the purchase is filed as Exhibit 99.1 to this report.
ITEM 9.01	FINANCIAL STATEMENTS AND EXHIBITS
(a)	Not Applicable
(b)	Not Applicable
(c)	Exhibits

Exhibit No.
99.1	Press Release dated May 3, 2007

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
	CHEMUNG FINANCIAL CORPORATION
May 3, 2007	By: Ronald M. Bentley
	Ronald M. Bentley
	President & Chief Executive Officer

EX-99.1

	Chemung Financial Corporation One Chemung Canal Plaza P.O. Box 1522 Elmira, New York 14902 (607) 737-3711
For Immediate Release: May 3, 2007
Chemung Canal Trust Company Completes Acquisition of Partners Trust Department

Chemung Canal Trust Company, the subsidiary bank of Chemung Financial Corporation (OTCBB: CHMG), today announced that it had finalized the acquisition of the trust department assets of Partners Trust Financial Group, Inc. (Nasdaq: PRTR). The purchase agreement was originally announced in October 2006.

"We are excited to welcome the clients from Partners' Trust Department to Chemung Canal. With nearly $2 billion in assets under management or administration, a team of highly qualified trust and investment professionals and our commitment to providing exemplary client service, we are confident we can bring added value to these relationships," according to Ronald M. Bentley, President and Chief Executive Officer of Chemung Canal Trust Company.

"We are pleased to complete this transaction and believe that the trust customers will continue to be well served by Chemung, and will enjoy the benefits of a larger trust operation," said John A. Zawadzki, President and Chief Executive Officer of Partners Trust.

As a result of the acquisition of these trust accounts, Chemung Canal has filed an application with the New York State Banking Department and the Federal Reserve Bank to open a full service branch at 127 Court Street in Downtown Binghamton. The Court Street property is currently being renovated and the bank expects to be operating from that location in July 2007. While they await the completion of renovations, Chemung Canal will service all Broome County Trust clients from their Vestal, NY office.

Additionally, Chemung Canal will open a Representative Office in Herkimer, NY at 219 North Prospect St.

Chemung Canal Trust Company, founded in 1833 and headquartered in Elmira, New York, is a full service community bank with full trust powers. The Bank is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services and insurance. As a result of this acquisition, Chemung Canal Trust maintains 18 offices in 7 counties.

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.

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Contact Information
	Chemung Canal Trust Company:
	Melinda A. Sartori, Executive Vice President, (607) 737-3889
	Partners Trust Financial Group, Inc.:
	Steve Mahler, Vice President, (315) 738-4739