Published May 16. 2015 09:00AM
The board of directors of Mauch Chunk Trust Financial Corporation has released earnings results for the corporation for the quarter ended March 31.
Net income for the three months ending March 31 was $751,000, $221,000 less than the same period in 2014. On a per-share basis, net income was $0.24 this year versus $0.32 last year.Lower net income in 2015 is attributable to a decrease in net realized gains on the sales of securities and higher other expenses, offset, in part, by an increase in net interest income and lower income tax 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 seven banking offices, five in Carbon County and two in Schuylkill County.Incorporated in 1902, Mauch Chunk Trust is the successor institution to the Second National Bank of Mauch Chunk established in 1864.Visit the website at
www.mauchchunktrust.com.