An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Muncy Bank Financial, Inc. (OTCQB:MYBF) reported strong financial results for the year ending December 31, 2021. Key highlights include:
Net income rose to $7,635,000 ($4.75/share), up from $5,748,000 ($3.57/share) in 2020.
Total assets increased 12% to $594.3 million.
Total deposits grew 16% to $527.5 million.
Dividends per share increased by 4% to $1.46.
Overall, the financial performance reflects a positive trend in growth and profitability.
Positive
Net income increased 33% to $7,635,000 for 2021.
Total assets grew by 12% to $594,334,000.
Total deposits increased by 16% to $527,512,000.
Dividends per share increased 4% to $1.46, with a special 5% stock dividend.
Negative
None.
MUNCY, Pa.--(BUSINESS WIRE)--
Muncy Bank Financial, Inc., (OTCQB:MYBF), the parent company of The Muncy Bank and Trust Company (“Bank”), has released its unaudited consolidated financial results for the year ended December 31, 2021.
Financial Highlights
Financial highlights for Muncy Bank Financial, Inc. as of and for the year ended December 31, 2021, compared to the same period in 2020, include:
Special 5% stock dividend in 2021
Cash dividend increased to $1.46/share compared to $1.41/share in 2020
Total Assets increased 12% to $594,334,000
Shareholders’ Equity increased 9% to $59,107,000
Total Deposits increased 16% to $527,512,000
Net Loans increased 10% to $441,912,000
Return on Average Assets was 1.33% compared to 1.13% in 2020
Return on Average Equity was 13.44% compared to 11.05% in 2020
Net income for the year ended December 31, 2021 was $7,635,000 or $4.75 per share, compared to $5,748,000 or $3.57 per share for the same period in 2020. In the second and third quarters of 2021, the Bank recorded total gains of $1.1 million in connection with proceeds received on bank-owned life insurance policies as well as a pre-tax loss of $364,000 on prepayment of long-term borrowings. Net income for the year ended December 31, 2021 was also positively impacted by recognition of PPP fees and gains of sales of secondary market mortgages of $823,000 and $1,258,000, respectively, compared to $401,000 and $509,000, respectively, for the same period in 2020.
The Bank’s loan portfolio remained strong with an overall delinquency ratio of 0.46% of gross loans at December 31, 2021, compared to 1.21% at December 31, 2020. The allowance for loan losses was $4,738,000 or 1.06% of gross loans at December 31, 2021, compared to $4,268,000 or 1.05% of gross loans at December 31, 2020. Total deposits increased to $527,512,000 at December 31, 2021, compared to $454,106,000 at December 31, 2020.
Muncy Bank Financial, Inc. paid cash dividends of $1.46 per share for the year ended December 31, 2021, compared to $1.41 for the year ended December 31, 2020, an increase of 4%. Shareholders also received a special 5% stock dividend on March 15, 2021, effectively increasing the total dividend by 9% for 2021.
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. A new Muncy Bank office is scheduled to open in South Williamsport during 2022.
