Mauch Chunk Trust issues earnings
The Board of Directors of Mauch Chunk Trust Financial Corporation has released the earnings results for the corporation for the quarter ended March 31, 2012.
Net income for the three months ended March 31, 2012 was $1 million, $364,000 higher than the same period in 2011. On a per share basis net income was $ .33 this year versus $ .21 last year.
Higher net income in 2012 is mainly attributable to a reduction in the provision for loan losses and a decrease in other real estate expense.
Mauch Chunk Trust Financial Corp. is the parent company of the Mauch Chunk Trust Company, an independent community bank with its main office located at 1111 North St., Jim Thorpe. Mauch Chunk Trust operates six banking offices, including five in Carbon County and 226 Claremont Ave., Hometown, Schuylkill County, PA.
Incorporated in 1902, Mauch Chunk Trust is the successor institution to the Second National Bank of Mauch Chunk established in 1864. For more information on Mauch Chunk Trust visit their Web-Site at www.mauchchunktrust.com