Muncy Bank Financial, Inc., (OTC:MYBF), the parent company of The Muncy Bank and Trust Company (“Bank”), recently released the financial results for the nine months ended September 30, 2019.
Financial highlights for Muncy Bank Financial, Inc. for the nine months ended September 30, 2019 compared to 2018 include:
Special 5% stock dividend in 2019
Cash dividend increased to $0.99/share compared to $0.97/share in 2018
Shareholders’ Equity increased 11% to $49,122,000
Total Deposits increased 10% to $437,248,000
Net Loans increased 6% to $383,078,000
Total Assets increased 7% to $493,236,000
Return on Average Assets was 1.08% compared to 1.06% in 2018
Return on Average Equity was 10.89% compared to 10.64% in 2018
Net income through September 30, 2019 was $3,845,000 or $2.57 per share, compared to $3,463,000 or $2.37 per share for the same period in 2018.
The Bank’s loan portfolio remained strong with an overall delinquency ratio of 0.84% of gross loans as of September 30, 2019, compared to 0.37% in 2018. The allowance for loan losses was $3,986,000 or 1.03% of gross loans at September 30, 2019, compared to $3,858,000 or 1.05% of gross loans in 2018. Total deposits increased to $437,248,000 at September 30, 2019, compared to $397,609,000 for the same period in 2018.
Muncy Bank Financial, Inc. paid cash dividends of $0.99 per share as of September 30, 2019, compared to $0.97 for the same period of 2018, an increase of 2%. The Company also paid a 5% stock dividend on May 10, 2019 to shareholders of record on April 30, 2019, which effectively increased the dividend by another 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.
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