The board of directors of Mauch Chunk Trust Financial Corporation have released earnings results for the corporation for the period ended March 31.

Net income for the three months ended March 31, 2024, was $1.3 million, $119 thousand higher than the same period in 2023. On a per share basis, net income was 38 cents this year versus 34 cents last year.

Higher net income in 2024 is attributable to an increase in other income offset by decreases in net interest income, an increase in other expenses and increases in the provision for loan losses and taxes.

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.

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.