Investor Relations

Press Releases

December 1, 2017

Jim Thorpe, Pennsylvania - The Board of Directors of Mauch Chunk Trust Financial Corp. declared a regular dividend of $ .22 per share payable December 29, 2017 to shareholders of record as of December 1, 2017. This action brings the annual dividend rate to $.44 per share.  This represents approximately a 4.76% increase over last year’s total dividend. 

October 1, 2017

The Board of Directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended September 30, 2017.  

Net income for the nine months ended September 30, 2017 was $2.2 million, $269 thousand less than the same period in 2016. On a per share basis, net income year-to-date was $ .70 this year compared to $.79 last year.  For the three months ending September 30, 2017, net income was $814 thousand, $199 thousand less than the same period in 2016.  On a per share basis, third quarter net income was $.27 this year versus $.33 last year.  

The decrease in year-to-date and quarter-to-date income is primarily attributable to higher other income in 2016 versus 2017, specifically a gain on the sale of an ORE property, mortgage banking fees and net realized gains on sales of securities. Partially offsetting lower revenue in these areas this year is an increase in net interest income and a reduction in costs: loan loss provision, other expense, and taxes

July 12, 2017

Jim Thorpe, Pennsylvania --The Board of Directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended June 30, 2017.

Net income for the six months ended June 30, 2017 was $1.34 million, $70 thousand less than the first half of 2016. On a per share basis, net income year to date was $.44 this year compared to $.46 last year. For the three months ending June 30, 2017, net income was $732 thousand, $117 thousand less than the same period in 2016. On a per share basis, second quarter net income was $.28 this year versus $.46 last year.

The decrease in both 2017 year-to-date and quarter-to-date results are mainly attributable to a reduction in realized gains on the sale of securities and lower mortgage banking income, partially offset by an increase in net interest income, higher wealth management fees and a reduction in the provision for loan losses.

June 1, 2017

The Board of Directors of Mauch Chunk Trust Financial Corp. declared a regular dividend of $ .22 per share payable June 30, 2017 to shareholders of record as of June 1, 2017. This represents an increase of just under 5.0% over the 2016 regular dividend rate of $.21 per share.  

February 7, 2017

Jim Thorpe, Pennsylvania --The Board of Directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the year ended December 31, 2016.

Net income for the year ended December 31, 2016 was $2.78 million, $181 thousand higher than 2015 net income of $2.60 million. On a per share basis, net income was $0.91 for 2016 versus $0.85 per share last year.

Higher income in 2016 is attributable to gains on the sale of foreclosed assets, gains on the sale of securities, lower provisioning for loan losses and higher service fees. These positive variances were partially offset by increases in expenses including salary and benefit, occupancy, data processing, other expenses and Federal taxes.

 

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