Investor Relations

Press Releases

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 have 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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