The board of directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended Sept 30.

Net income for the nine months ended Sept. 30, 2023, was $2.8 million, $1.2 million lower than the first nine months of 2022.

On a per share basis, net income year-to-date was 84 cents this year compared to $1.20 last year.

For the three months ending Sept. 30, 2023, net income was $733,000, $633,000 lower than last year. On a per share basis, third quarter net income was 22 cents and 41 cents, respectively, for 2023 and 2022.

Lower year-to-date net income in 2023 is attributable to a decrease in net interest income, and increases in other expenses and the provision for loan losses, partially offset by higher other income and a decrease in taxes.

MCT, the wholly owned subsidiary of MCTFC, is a locally owned and managed independent community bank with its main office in Jim Thorpe. 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 Aug. 25, 1902, as the successor institution to the Second National Bank of Mauch Chunk established in 1864.

For more information about MCT, visit www.mct.bank.