The Board of Directors of Mauch Chunk Trust Financial Corporation has released the earnings results for the corporation for the quarter ended March 31, 2012.
Net income for the three months ended March 31, 2012 was $1 million, $364,000 higher than the same period in 2011. On a per share basis net income was $ .33 this year versus $ .21 last year.
Higher net income in 2012 is mainly attributable to a reduction in the provision for loan losses and a decrease in other real estate expense.