Mauch Chunk Trust issues annual report
The Board of Directors of Mauch Chunk Trust Financial Corporation has released the earnings results for the corporation for the year ended December 31, 2013.
Net income for the year ended December 31, 2013 was $3.3 million in 2013, an increase of 4.94% over 2012 net income of $3.2 million. On a per share basis, net income was $1.10 in 2013 versus 1.04 in 2012.
Higher net income in 2013 is attributable to reductions in the provision for loan losses, other expenses and federal income taxes, offset by decreases in net interest income and net realized gains on securities sales.
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, Carbon County, PA. Mauch Chunk Trust operates seven (7) banking offices, including five in Carbon County and two in Schuylkill County, PA.
Incorporated in 1902, Mauch Chunk Trust is the successor institution to the Second National Bank of Mauch Chunk established in 1864. In 2013 the company was named one of the top 200 community banks in the United States under $2 billion in assets by the American Banker newspaper. For more information on Mauch Chunk Trust visit their Web-Site at www.mauchchunktrust.com