MUNCY, Pa.--(BUSINESS WIRE)--Muncy Bank Financial, Inc., (OTC:MYBF), the parent company of The Muncy Bank and Trust Company (“Bank”), recently released the financial results for the six months ended June 30, 2019.
Financial highlights for Muncy Bank Financial, Inc. for the six months ended June 30, 2019 compared to 2018 include:
- Special 5% stock dividend in 2019
- Cash dividend increased to $0.66/share compared to $0.64/share in 2018
- Shareholders’ Equity increased 10% to $47,903,000
- Total Deposits increased 11% to $419,188,000
- Net Loans increased 4% to $372,088,000
- Total Assets increased 6% to $478,975,000
- Return on Average Assets was 1.02% compared to 1.03% in 2018
- Return on Average Equity was 10.28% compared to 10.27% in 2018
Net income through June 30, 2019 was $2,375,000 or $1.61 per share, compared to $2,204,000 or $1.51 per share for the same period in 2018.
The Bank’s loan portfolio remained strong with an overall delinquency ratio of 0.50% of gross loans as of June 30, 2019, compared to 0.27% in 2018. The allowance for loan losses was $3,986,000 or 1.06% of gross loans at June 30, 2019, compared to $3,892,000 or 1.07% of gross loans in 2018. Total deposits increased to $419,188,000 at June 30, 2019, compared to $378,904,000 for the same period in 2018.
Muncy Bank Financial, Inc. paid a 5% stock dividend on May 10, 2019 to shareholders of record on April 30, 2019. The Company also paid a cash dividend of $0.33 per share on June 14, 2019 to shareholders of record on June 5, 2019. Since the cash dividend remained unchanged from the previous quarter, this effectively increased the cash dividend by 5%.
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.