Muncy Bank Financial Inc., the holding company for The Muncy Bank and Trust Co., recently released second quarter financial results, a news release said.
Daniel C. Berninger, president and CEO, announced that net income increased $74,439, or 3.29 percent, from the same period of 2013. Actual net earnings were $2,334,688, or $1.50 per share. For comparison, 2013 earnings were $2,260,249, or $1.46 per share.
Net loans grew 8.85 percent or $21,896,136 and total $269,249,230; deposits have increased 7.65 percent or $22,821,011 and total $321,151,523; and, assets have increased 7.41 percent or $25,494,434 and total $369,730,609.
Shareholders equity increased 9.84 percent or $3,478,913 to $38,834,772. With this increase in equity, Muncy Bank Financial Inc. has increased dividends 10 percent year-to-date from $.40 per share in 2013 to $.44 per share in 2014.
It also was noted, the news release said, that Muncy Bank Financial Inc. was recognized by American Banker magazine in the May 2014 issue as being ranked No. 24 in the "Top 200 Community Bank List" in the U.S. This list includes all banks and thrifts with less than $2 billion in assets as of Dec. 31, 2013. This is the 5th consecutive year that the bank has been nationally recognized.