Muncy Bank Financial, Inc., (OTC:MYBF), the parent company of The Muncy Bank and Trust Company ("Bank"), has released its unaudited consolidated financial results for the six months ended June 30, 2020.
Financial highlights for Muncy Bank Financial, Inc. as of and for the six months ended June 30, 2020, compared to the same period in 2019, include:
- Cash dividend increased to $0.70/share compared to $0.66/share in 2019
- Total Assets increased 7% to $512,922,000
- Shareholders’ Equity increased 8% to $51,841,000
- Total Deposits increased 5% to $440,102,000
- Net Loans increased 7% to $399,710,000
- Return on Average Assets was 0.96% compared to 1.02% in 2019
- Return on Average Equity was 9.50% compared to 10.28% in 2019
Net income through June 30, 2020 was $2,386,000 or $1.56 per share, compared to $2,375,000 or $1.61 per share for the same period in 2019.
The Bank’s loan portfolio remained strong with an overall delinquency ratio of 0.64% of gross loans as of June 30, 2020, compared to 0.50% in 2019. The allowance for loan losses was $4,246,000 or 1.05% of gross loans at June 30, 2020, compared to $3,986,000 or 1.06% of gross loans in 2019. Total deposits increased to $440,102,000 at June 30, 2020, compared to $419,188,000 for the same period in 2019.
Muncy Bank Financial, Inc. paid cash dividends of $0.70 per share year to date June 30, 2020, compared to $0.66 for the same period in 2019, an increase of 6%.
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, Linden, and Montgomery.