Bank releases figures
Muncy Bank Financial Inc., the parent company of The Muncy Bank and Trust Co., recently released the financial results for the nine months ending Sept. 30.
According to a news release, financial highlights for Muncy Bank Financial Inc. for the nine months ending Sept. 30 compared to 2015 include: Dividend paid increased to $0.84/share compared to $0.75/share in 2015, shareholders’ equity increased 6.91 percent to $43,476,271, total deposits increased 6.12 percent to $340,910,706, net loans increased 1.28 percent to $303,109,935, total assets increased 5.37 percent to $394,294,851 and return on average assets was 1.02 percent, return on average equity was 9.22 percent
Net income through Sept. 30 was $2,915,262 or $1.95 per share compared to $3,457,945 or $2.30 per share for the same period in 2015. The decrease in net income was impacted by additional salary, health care, technology and company expansion expenses.
With the bank’s loan growth of 1.28 percent, the bank’s overall delinquency ratio was 0.82 percent of gross loans outstanding, with loan loss allowance totals of $3,294,385 or 1.08 percent of loans outstanding. Total deposits increased to $340,910,706 compared to $321,262,721 for the same period in 2015.
Muncy Bank Financial Inc. increased dividends 12 percent year-to-date to $.84 per share compared to $.75 per share at Sept. 30, 2015.
The Muncy Bank and Trust Co. recently held a ground-breaking ceremony for a new community office in Linden, according to the news release. Plans also are in place to open a full service office in Avis in 2017.
Muncy Bank Financial Inc. is the bank holding company for The Muncy Bank and Trust Co. The Muncy Bank and Trust Co. serves customers through its retail banking, commercial banking, and financial services divisions. Muncy Bank offices are located in the communities of Muncy, Clarkstown, Hughesville, Montoursville and Dewart. Plans are in place to open offices in Linden and Avis in 2017.