Muncy Columbia Financial Q2 net income rises 24.14% to $7.2 million
CCFN•Q2 profit and revenue trends
Muncy Columbia Financial posted Q2 net income of $7.2 million, or $0.67 per share, up 24.14% from a year earlier.
Net interest income climbed 13.2% to $16.8 million, lifting tax-equivalent net interest margin 33 basis points to 4.37%.
Balance sheet and asset quality
The balance sheet ended June 30 with assets of $1.67 billion. Non-performing assets fell to $8.88 million from $11.98 million at Dec. 31.
Non-interest income and expenses
Non-interest income rose 14.4% to $2.56 million despite realized losses on available-for-sale debt securities of $1.45 million.
Non-interest expense increased 5.7% to $10.42 million; provision for credit losses rose to $394,000.
