MUNCY, Pa.--(BUSINESS WIRE)--Muncy Bank Financial, Inc., (OTC:MYBF), the parent company of The Muncy Bank and Trust Company, recently released the financial results for the six months ending June 30, 2018.
Financial highlights for Muncy Bank Financial, Inc. for the six months ending June 30, 2018 compared to 2017 include:
- Dividend paid increased to $0.64/share compared to $0.60/share in 2017
- Total Deposits increased 13.3% to $378,904,000
- Net Loans increased 10.5% to $358,293,000
- Total Assets increased 8.5% to $451,024,000
- Return on Average Assets was 1.02% compared to 0.94% in 2017
- Return on Average Equity was 10.19% compared to 8.68% in 2017
Net income through June 30, 2018 was $2,204,000 or $1.51 per share, compared to $1,866,000 or $1.26 per share for the same period in 2017.
With the bank’s loan growth of 10.5%, the bank’s overall delinquency ratio was .41% of gross loans outstanding, with loan loss allowance totals of $3,892,000 or 1.07% of loans outstanding. Total deposits increased to $378,904,000 compared to $334,435,000 for the same period in 2017.
Muncy Bank Financial, Inc. increased dividends 6.7% year-to-date to $0.64 per share compared to $0.60 per share at June 30, 2017.
About Muncy Bank Financial, Inc.
Muncy Bank Financial, Inc. is the bank holding company for The Muncy Bank & Trust Company. The Muncy Bank & Trust Company serves customers through their retail banking, commercial banking, and financial services divisions. Muncy Bank offices are located in the communities of Muncy, Clarkstown, Hughesville, Montoursville, Dewart, Avis and Linden.