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 nine months ended September 30, 2023.

Financial Highlights

Financial highlights for Muncy Bank Financial, Inc. as of and for the nine months ended September 30, 2023, compared to the same period in 2022, include:

• Cash dividend increased to $1.18/share compared to $1.15/share in 2022
• Total Assets increased 8% to $660,465,000
• Net Loans increased 10% to $510,235,000
• Retained Earnings increased 3% to $56,611,000
• Return on Average Assets was 0.76%
• Return on Average Equity was 10.03%

Net income for the nine months ended September 30, 2023 was $3,674,000 or $2.28 per share, compared to $4,830,000 or $3.00 per share for the same period in 2022. Net income was impacted primarily by changes in the Bank’s net interest margin due to the rising interest rate environment. Net interest income for the nine months ended September 30, 2023 decreased to $13,339,000, from $14,968,000 for the same period in 2022. Nonrecurring merger-related expenses of $355,000 were recorded for the nine months ended September 30, 2023.

The Bank’s loan portfolio remained strong with an overall delinquency ratio of 0.56% of gross loans at September 30, 2023, compared to 0.44% at September 30, 2022. The allowance for credit losses was $5,153,000 or 1.00% of gross loans at September 30, 2023, compared to $4,960,000 or 1.05% of gross loans at September 30, 2022. The Bank adopted the current expected credit loss (“CECL”) model effective January 1, 2023.

Muncy Bank Financial, Inc. paid cash dividends of $1.18 per share for the nine months ended September 30, 2023, compared to $1.15 for the same period in 2022, an increase of 3%. The third quarter 2023 dividend represented the 352nd consecutive dividend payout dating back to 1935. Muncy Bank Financial Inc. has increased its annual dividend payout since 1990.

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, Montgomery and South Williamsport.

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