Muncy Columbia Financial Corporation reported net income of $5,224,000, or $1.47 per share, for the fourth quarter of 2024. This marks a significant improvement from a net loss of $1,186,000, or ($0.41) per share, in the same period of 2023, which was impacted by merger-related expenses. For the full year 2024, net income reached $19,023,000, or $5.33 per share, compared to $3,387,000, or $1.49 per share, in 2023.
The company's return on average assets for Q4 2024 was 1.30%, up from (0.35%) in Q4 2023, and return on average equity was 12.30%, compared to (3.95%) in the prior year. The fully-tax equivalent net interest margin for the year ended December 31, 2024, expanded to 3.46% from 2.34% in 2023. Loans receivable increased by $13,293,000 during the quarter, and total deposits grew by $1,960,000, supported by the strategic repositioning of customer repurchase agreements.
Total non-performing assets increased to $10,117,000, or 0.63% of total assets, at December 31, 2024, from $8,575,000, or 0.53% of total assets, at September 30, 2024. This increase was primarily due to a rise in non-accrual loans, including a $1,285,000 increase in residential real estate non-accrual loans. Despite this, the company maintained a well-capitalized status with an equity to assets ratio of 10.43%.
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