Investor Relations

Press Releases

July 15, 2018

 The Board of Directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended June 30, 2018.  Net income for the six months ended June 30, 2018 was $1.48 million, $136 thousand more than the first half of 2017. On a per share basis, net income year-to-date was $.48 this year compared to $.44 last year.  For the three months ending June 30, 2018, net income was $735 thousand or about the same as last year.  On a per share basis, second quarter net income was $.24 for both 2018 and 2017.  The slight increase in both 2018 year-to-date and quarter-to-date results are mainly attributable to a reduction in salary and benefits, lower provisioning for loan losses, lower tax expense and an increase in gains on sales of foreclosed assets, partially offset by lower realized gains on sales of securities. 

June 6, 2018

The Board of Directors of Mauch Chunk Trust Financial Corp. authorized the repurchase of up to 150,000 shares (4.9%) of the Corporation’s outstanding common stock.  Pursuant to the authorization, the Chief Executive Officer of the Corporation may direct the repurchases at times and in amounts determined by him to be prudent, except that any transaction involving an aggregate purchase price to be paid by the Corporation more than $100,000 will be subject to the separate prior approval of the Corporation’s Board of Directors.  The Board of Directors has provided for the repurchase program to expire December 31, 2018, unless sooner terminated or extended.

Repurchases may be made from time to time on the open market or in privately negotiated transactions.  The timing and actual number of shares repurchased will depend on market conditions and other requirements.  Shares repurchased will be held by the Corporation as treasury shares available for future issuance.

The repurchase program does not obligate the Corporation to purchase any dollar amount or number of shares and the Corporation may suspend, modify, extend or terminate the program at any time.

Mauch Chunk Trust Financial Corp. is the parent company of Mauch Chunk Trust Company, a community bank with seven offices in Carbon and Schuylkill County, PA. On March 31, 2018 the corporation had total assets of $417.7 million and shareholders’ equity of $39.2 million. 

June 1, 2018

The Board of Directors of Mauch Chunk Trust Financial Corp. declared a regular dividend of $ .22 per share payable June 29, 2018 to shareholders of record as of June 1, 2018.

April 10, 2018

The Board of Directors of Mauch Chunk Trust Financial Corporation has released earnings results for the corporation for the quarter ended March 31, 2018.  

Net income for the three months ended March 31, 2018 was $741 thousand, $133 thousand higher than the same period in 2017.  On a per share basis, net income was $ .24 this year versus $ .20 last year.  Higher net income in 2018 is attributable to an increase in net interest income, higher net realized gains on the sales of securities, a reduction in salary expenses and lower provision for loan losses, offset, in part, by increased data processing costs and higher operating costs

February 7, 2018

The Board of Directors of Mauch Chunk Trust Financial Corporation has released earnings results for the corporation for the year ended December 31, 2017.

Net income for the year ended December 31, 2017 was $2.82 million, $37 thousand higher than 2016 net income of $2.79 million. On a per share basis, net income was $0.92 for 2017 versus $0.91 per share last year.

Overall earnings for 2017 were essentially unchanged versus prior year although individual income statement categories reported various changes. Positive changes in 2017 include an increase in net interest income, lower provisioning for loan losses, net realized gain on sale of loan servicing rights, and lower other expenses. Offsetting these positive variances were reduced gains on the sale of securities, lower gains on the sale of foreclosed assets, decreases in fees from mortgage banking activities, higher data processing costs and an increase in federal income tax expense resulting from changes enacted to corporate tax laws that went into effect on December 22, 2017.

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.  

 

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Mauch Chunk Trust Company

MCT was incorporated August 25, 1902 and remains today a locally owned and managed independent community bank. While many banks of our type have merged or simply disappeared, our ability to change with the times has allowed us to grow and prosper for over 115 years. Read more about our history here.

We have 7 branches & 1 Trust & Investment office located in Carbon & Schuylkill Counties, Pennsylvania in the following communities: Jim Thorpe, Albrightsville, Lehighton, Nesquehoning & Tamaqua (Hometown, West Penn).

We are the "Neighbors you know, bankers you trust."