Muncy Bank Financial, Inc. Announces Earnings

Rhea-AI Summary

Muncy Bank Financial, Inc. (OTC:MYBF) reported its unaudited financial results for 2020, showing strong growth compared to 2019. Key highlights include:

• Net income rose to $5,748,000 ($3.75/share) versus $5,242,000 ($3.48/share) in 2019.
• Total assets increased by 9% to $531,574,000.
• Shareholders' equity also rose by 9% to $54,450,000.
• Cash dividends per share grew by 5% to $1.41.
• The loan delinquency ratio improved to 1.21% from 1.72% in 2019.

Positive

• Net income increased by 9.65% to $5,748,000.
• Total assets increased by 9% to $531,574,000.
• Shareholders' equity rose by 9% to $54,450,000.
• Cash dividend per share increased to $1.41, a 5% rise.
• Loan delinquency ratio improved to 1.21% from 1.72%.

Negative

• None.

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 year ended December 31, 2020.

Financial Highlights

Financial highlights for Muncy Bank Financial, Inc. as of and for the year ended December 31, 2020, compared to the same period in 2019, include:

• Cash dividend increased to $1.41/share compared to $1.34/share in 2019
• Total Assets increased 9% to $531,574,000
• Shareholders’ Equity increased 9% to $54,450,000
• Total Deposits increased 8% to $454,106,000
• Net Loans increased 5% to $402,243,000
• Return on Average Assets was 1.13% compared to 1.09% in 2019
• Return on Average Equity was 11.05% compared to 10.99% in 2019

Net income for the year ended December 31, 2020 was $5,748,000 or $3.75 per share, compared to $5,242,000 or $3.48 per share for the year ended December 31, 2019.

The Bank’s loan portfolio remained strong with an overall delinquency ratio of 1.21% of gross loans as of December 31, 2020, compared to 1.72% in 2019. The allowance for loan losses was $4,268,000 or 1.05% of gross loans at December 31, 2020, compared to $4,024,000 or 1.04% of gross loans in 2019. Total deposits increased to $454,106,000 as of December 31, 2020, compared to $421,131,000 in 2019.

Muncy Bank Financial, Inc. paid cash dividends of $1.41 per share for the year ended December 31, 2020, compared to $1.34 for the year ended December 31, 2019, an increase of 5%.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210114005741/en/

FAQ

What was Muncy Bank Financial's net income for 2020?

Muncy Bank Financial reported a net income of $5,748,000 for the year ended December 31, 2020.

How much did the cash dividend increase for MYBF?

The cash dividend increased by 5% to $1.41 per share for the year ended December 31, 2020.

What is the total assets figure for MYBF as of December 31, 2020?

Total assets for Muncy Bank Financial, Inc. increased to $531,574,000 as of December 31, 2020.

What was the loan delinquency ratio for Muncy Bank Financial in 2020?

The loan delinquency ratio for Muncy Bank Financial was 1.21% of gross loans as of December 31, 2020.

What was the shareholders' equity for MYBF at the end of 2020?

Shareholders' equity for Muncy Bank Financial, Inc. increased to $54,450,000 at the end of 2020.