News Release: Mauch Chunk Trust Company Announces First Quarter 2024 Earnings

Contact:               Patrick H. Reilly, President/CEO
Mauch Chunk Trust Company
1111 North Street, Jim Thorpe, PA 18229
Phone:                 (570) 325-0444
Email:                   preilly@mct.bank
 
MAUCH CHUNK TRUST COMPANY ANNOUNCES FIRST QUARTER 2024 EARNINGS
 
Jim Thorpe, Pennsylvania, April 17, 2024– The Board of Directors of Mauch Chunk Trust Financial Corporation (MCTFC) have released earnings results for the corporation for the period ended March 31, 2024.
 
Net income for the three months ended March 31, 2024, was $1.3 million, $119 thousand higher than the same period in 2023. On a per share basis, net income was $ .38 this year versus $ .34 last year.
 
Higher net income in 2024 is attributable to an increase in other income offset by decreases in net interest income, an increase in other expenses and increases in the provision for loan losses and taxes.
 
MCT, the wholly owned subsidiary of MCTFC, is a locally owned and managed independent community bank with its main office in Jim Thorpe, Carbon County, PA. The bank operates seven full-service community offices in Carbon and Schuylkill Counties as well as a Wealth Management office in Jim Thorpe. MCT was incorporated on August 25, 1902, as the successor institution to the Second National Bank of Mauch Chunk established in 1864.
 
For more information about MCT, please visit www.mct.bank.
 
 
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