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Mauch Chunk Trust releases earnings

The Board of Directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended June 30.

Net income for the six months ended June 30, was $1.4 million, essentially the same as last year. On a per share basis, net income was 46 cents this year, the same as last year. For the three months ending June 30, net income was $849,000, $190,000 higher than the same period in 2015. On a per share basis, second quarter net income was 28 cents this year versus 21 cents last year.Year-to-date results were driven by higher net interest income, net realized gains on sales of securities and lower provision for loan losses.They were offset by increases in salaries and benefits, other operating expenses and an increase in income tax expenses due to lower balances of tax-free municipal bonds during the period.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, and Carbon County. Mauch Chunk Trust operates seven banking offices, including five in Carbon County and two in Schuylkill County.