Muncy Columbia Financial Corporation Reports Fourth Quarter 2024 Earnings

On January 22, 2025, Muncy Columbia Financial Corporation (OTCMKTS:CCFN) released its unaudited financial statements for the fourth quarter of 2024 in a press release titled “Muncy Columbia Financial Corporation Reports Fourth Quarter 2024 Earnings.” The financial results were presented by Lance O. Diehl, President and Chief Executive Officer, revealing significant insights into the corporation’s performance.

According to the report, the net income for the quarter ended December 31, 2024 was $5,224,000, equivalent to $1.47 per share. This marks a notable improvement compared to a net loss of $1,186,000, or ($0.41) per share, for the same period in 2023. Furthermore, the net income for the full year ended December 31, 2024, amounted to $19,023,000, translating to $5.33 per share, showcasing a substantial increase from $3,387,000, or $1.49 per share, for the corresponding period in 2023.

On the operational front, the return on average assets and return on average equity stood at 1.30% and 12.30%, respectively, for the fourth quarter of 2024. These figures represent a positive shift from the figures of (0.35%) and (3.95%) reported for the same period in 2023. The fully-tax equivalent net interest margin also indicated growth, reaching 3.46% for the year ended December 31, 2024, compared to 2.34% for the previous year.

The consolidated balance sheet of Muncy Columbia Financial Corporation depicted total consolidated assets of $1,595,958,000 at December 31, 2024. With a strategic initiative aimed at repositioning customer repurchase agreements into core deposit accounts, total deposits increased by $1,960,000 during the fourth quarter of 2024. Additionally, there was an increase in non-performing assets to $10,117,000, or 0.63% of total assets, from $8,575,000, or 0.53% of total assets, at September 30, 2024.

Muncy Columbia Financial Corporation highlighted its investment strategy, focusing on agency debt securities such as mortgage-backed securities and callable agency debt. Notably, the corporation addressed the fluctuation in the fair value of these securities due to market interest rates, prepayment speeds, and credit premiums, affecting its stockholders’ equity.

The Corporation disclosed key financial ratios, showcasing its solid financial footing. As of December 31, 2024, the Corporation’s book value per share was reported at $47.11, illustrating an increase from $43.08 at the end of 2023. Cash dividends of $1.76 per share were paid to stockholders for the full year 2024.

Muncy Columbia Financial Corporation remains well-capitalized, with an equity to assets ratio of 10.43% at December 31, 2024, a rise from 9.38% at December 31, 2023. The corporation’s consistent performance and strategic initiatives position it favorably moving forward

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Muncy Columbia Financial’s 8K filing here.

About Muncy Columbia Financial

Muncy Columbia Financial Corporation operates as the holding company for Journey Bank that provides banking and related financial services to individual, business, and government customers in Pennsylvania. It offers checking, savings, money market, interest checking, individual retirement, and repurchase sweep accounts, as well as certificates of deposit; and demand and time deposits.