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, 2022, was $4.02 million, $282 thousand higher than the first nine months of 2021.

On a per share basis, net income year-to-date was $1.20 this year compared to $1.12 last year.

For the three months ending Sept. 30, 2022, net income was $1.37 million, $116 thousand higher than last year. On a per share basis, second quarter net income was $. 41 and $. 37, respectively, for 2022 and 2021.

Higher year-to-date net income in 2022 is attributable to an increase in net interest income and a decrease in the provision for loan losses, partially offset by a reduction in other income, mainly lower gains on the sales of securities, as well as increases in other expenses and taxes.

For the three-months ended Sept. 30, 2022, higher net income is attributable to an increase in net interest income and a decrease in the provision for loan losses, partially offset by a reduction in other income, as well as increases in other expenses and taxes.

Mauch Chunk Trust Financial Corporation is the parent organization of the Mauch Chunk Trust Company. MCT 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 and celebrated its 120th anniversary during August 2022.

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