Muncy Bank Financial, Inc., the holding company for The Muncy Bank and Trust Co. has released the financial results for the three months ending March 31.
Daniel C. Berninger, president and CEO, announced that net income increased 4.23 percent or $49,073 from the same period of 2013. Actual net earnings were $1,208,086 or $.78 per share. For comparison, 2013 earnings for the same period were $1,159,013 or $.75 per share.
Return on average assets and return on Average Equity (ROAE) were 1.48 percent and 15.31 percent for the three months ended March 31.
Deposits increased $28,981,670 or 10.04 percent and total $317,683,883; loans have increased $23,213,409 or 9.62 percent, and total $264,444,320; assets have increased $27,848,551 or 8.25 percent, and total $365,215,244 as of March 31.
Shareholders equity increased 11.27 percent or $3,848,124 and total $38,001,467 as of March 31. With this increase in equity, Muncy Bank Financial, Inc increased dividends 10 percent from $.20 per share in March of 2103 to $.22 per share in March 2014.
Established in 1893, The Muncy Bank and Trust Co. operates six offices located in Muncy, Clarkstown, Hughesville, Montoursville and Dewart and can be found at www.muncybank.com.