News Release: Mauch Chunk Trust Company Announces Second 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 Second Quarter 2024 Earnings
 
Jim Thorpe, Pennsylvania, July 22, 2024– The Board of Directors of Mauch Chunk Trust Financial Corporation (MCTFC) have released earnings results for the corporation for the period ended June 30, 2024.
 
Net income for the three months ended June 30, 2024, was $253 thousand, $670 thousand lower than the same period in 2023. On a per share basis, net income was $ .08 this year versus $ .28 last year.
 
Lower net income in 2024 is attributable to higher other expenses and an increase in the provision for loan losses, partially offset by increases in net interest income and other income and lower tax expense.
 
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