World News: 15:29 GMT Tuesday 14th January 2020. [Muncy Bank Financial, Inc. via Businesswire via SPi World News]
Muncy Bank Financial, Inc., (OTC:MYBF), the parent company of The Muncy Bank and Trust Company (“Bank”), recently released the financial results for the twelve months ended December 31, 2019.
Financial highlights for Muncy Bank Financial, Inc. for the twelve months ended December 31, 2019 compared to 2018 include:
Net income through December 31, 2019 was $5,242,000 or $3.48 per share, compared to $4,658,000 or $3.19 per share for the same period in 2018.
The Bank’s loan portfolio remained strong with an overall delinquency ratio of 1.72% of gross loans as of December 31, 2019, compared to 1.95% in 2018. The allowance for loan losses was $4,024,000 or 1.04% of gross loans at December 31, 2019, compared to $3,995,000 or 1.07% of gross loans in 2018. Total deposits increased to $421,131,000 at December 31, 2019, compared to $408,957,000 for the same period in 2018.
Muncy Bank Financial, Inc. paid cash dividends of $1.34 per share in 2019, compared to $1.30 in 2018, an increase of 3%. 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.
Business Wire: 15:29 GMT Tuesday 14th January 2020
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