Muncy Bank Financial, Inc. Announces Earnings

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.

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Friday, January 14, 2022
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Banking, Professional Services, Finance, Muncy Bank Ballpark at Historic Bowman Field, Non-bank financial institution, OTCQB, Bank, PPP, Holding company
Geotags: 
PENNSYLVANIA, MUNCY, MONTOURSVILLE, CLARKSTOWN, NEW YORK, MONTGOMERY, SOUTH WILLIAMSPORT, LINDEN, HUGHESVILLE, DEWART
Summary
Key Points: 
  • 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.
  • 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.


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.

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