Muncy Columbia Financial Corporation Reports Strong Fourth Quarter 2024 Earnings

Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (”Bank”), has released its unaudited consolidated financial statements for the fourth quarter of 2024, showcasing a robust performance driven by strategic initiatives and a resilient balance sheet.



Key Financial Highlights

* Net income, as reported under GAAP, for the quarter ended December 31, 2024 was $5,224,000, or $1.47 per share, compared to a net loss of $1,186,000, or ($0.41) per share for the same period in 2023.
* Return on average assets and return on average equity were 1.30% and 12.30% for the quarter ended December 31, 2024, as compared to (0.35%) and (3.95%) for the same period of 2023.
* Total consolidated assets amounted to $1,595,958,000 at December 31, 2024, as compared to $1,607,322,000 at September 30, 2024 and $1,639,779,000 at December 31, 2023.
* Total non-performing assets amounted to $10,117,000 or 0.63% of total assets at December 31, 2024, as compared to $8,575,000 or 0.53% of total assets at September 30, 2024.
* Total stockholders’ equity equated to a book value per share of $47.11 at December 31, 2024 as compared with $43.08 at December 31, 2023.

Strategic Initiatives Drive Growth

The Corporation's strategic initiatives, such as repositioning customer repurchase agreements into core deposit accounts, have significantly contributed to its strong financial performance. This initiative has led to an increase in total deposits and a decrease in short-term borrowings, optimizing the Bank's long-term liquidity needs and balance sheet management strategies.



Resilient Balance Sheet and Capitalization

Muncy Columbia Financial Corporation remains well capitalized, with an equity to assets ratio of 10.43% at December 31, 2024 as compared to 9.38% at December 31, 2023. This strong capitalization, coupled with a robust balance sheet, positions the Corporation to weather potential economic headwinds and capitalize on growth opportunities.

Investment in Agency Debt and Stockholders' Equity

The Corporation's investments in various forms of agency debt, such as mortgage-backed securities and callable agency debt, have influenced its stockholders' equity and overall financial performance. While the temporary impact of unrealized losses on stockholders' equity amounted to a reduction of $13,896,000, the Corporation does not consider its debt securities to be credit impaired. The Corporation's long-term strategy of holding these securities until maturity helps mitigate the impact of temporary fluctuations in fair value.

Looking Ahead

Muncy Columbia Financial Corporation's strong fourth quarter 2024 earnings, driven by strategic initiatives and a resilient balance sheet, position the Corporation for continued growth and success. As the Corporation continues to execute its strategic plans, investors can expect a positive outlook for the future.