MUNCY COLUMBIA FINANCIAL Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>MUNCY COLUMBIA FINANCIAL Corp filed its quarterly 10-Q report for the period ending March 31, 2024.</b>

AI Summary

MUNCY COLUMBIA FINANCIAL Corp (CCFN) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. MUNCY COLUMBIA FINANCIAL Corp filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's Central Index Key is 0000731122. The Standard Industrial Classification is 'STATE COMMERCIAL BANKS [6022]'. The company's business and mailing address is 232 EAST ST, BLOOMSBURG, PA 17815.

Why It Matters

For investors and stakeholders tracking MUNCY COLUMBIA FINANCIAL Corp, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position as of the end of the first quarter of 2024. The detailed financial information within the report is crucial for understanding the company's operational health, asset management, and potential risks.

Risk Assessment

Risk Level: low — MUNCY COLUMBIA FINANCIAL Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative disclosures.

Analyst Insight

Monitor future filings for trends in asset composition and potential changes in nonperforming assets.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-13 — Filing Date (Date the report was filed)
• 0000731122 — Central Index Key (Company identifier)
• 6022 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• MUNCY COLUMBIA FINANCIAL Corp (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-13 (date) — Filed as of date
• 0000731122 (company) — Central Index Key
• 6022 (industry) — Standard Industrial Classification
• PA (location) — State of incorporation
• 232 EAST ST, BLOOMSBURG, PA 17815 (address) — Business address
• CCFNB BANCORP INC (company) — Former company name

FAQ

Industry Context

MUNCY COLUMBIA FINANCIAL Corp operates within the commercial banking sector, providing financial services to individuals and businesses.

Regulatory Implications

As a commercial bank, the company is subject to regulations from various financial authorities, including the SEC, Federal Reserve, and state banking departments.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Analyze trends in the company's balance sheet and income statement compared to previous periods.
3. Assess any disclosures related to risk factors or legal proceedings mentioned in the filing.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-13: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024. No prior period comparison data is available from this specific document.

Key Financial Figures

• $1.25 — latest practical date: Common stock, $1.25 par value, 3,572,288 shares outstanding
• $418,000 — s ended March 31, 2024 as compared to a $418,000 credit for the quarter ended March 31,
• $48,000 — 2024, as compared to net recoveries of $48,000 for the three months ended March 31, 20

Filing Documents

• ccfn-10q_033124.htm (10-Q) — 1894KB
• ex4-1.htm (EX-4.1) — 4KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• ex41001.jpg (GRAPHIC) — 636KB
• ex41002.jpg (GRAPHIC) — 196KB
• 0001999371-24-005970.txt (&nbsp;) — 10294KB
• muncy-20240331.xsd (EX-101.SCH) — 37KB
• muncy-20240331_cal.xml (EX-101.CAL) — 99KB
• muncy-20240331_def.xml (EX-101.DEF) — 206KB
• muncy-20240331_lab.xml (EX-101.LAB) — 406KB
• muncy-20240331_pre.xml (EX-101.PRE) — 346KB
• ccfn-10q_033124_htm.xml (XML) — 2162KB

Financial Information

Part I. Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Consolidated Balance Sheets 3 Consolidated Statements of Income 4 Consolidated Statements of Comprehensive Income 5 Consolidated Statements of Changes in Stockholders' Equity 6 Consolidated Statements of Cash Flows 7 Notes to Unaudited Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3. Quantitative and Qualitative Disclosure About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 39

Signatures

Signatures 40 2 PART I Financial Information Item 1. Financial Statements Muncy Columbia Financial Corporation Consolidated Balance Sheets (In Thousands, Except Share and Per Share Data) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Cash and due from banks $ 11,994 $ 14,614 Interest-bearing deposits in other banks 4,237 3,763 Total cash and cash equivalents 16,231 18,377 Interest-bearing time deposits 736 979 Available-for-sale debt securities, at fair value 339,594 413,302 Marketable equity securities, at fair value 1,178 1,295 Restricted investment in bank stocks, at cost 8,013 10,394 Loans held for sale 614 366 Loans receivable 1,080,747 1,068,429 Allowance for credit losses ( 9,351 ) ( 9,302 ) Loans, net 1,071,396 1,059,127 Premises and equipment, net 27,322 27,569 Foreclosed assets held for sale 335 170 Accrued interest receivable 4,849 5,362 Bank-owned life insurance 40,456 40,209 Investment in limited partnerships 5,641 5,828 Deferred tax asset, net 11,745 12,634 Goodwill 25,609 25,609 Core deposit intangible, net 11,346 11,895 Other assets 8,206 6,663 TOTAL ASSETS $ 1,573,271 $ 1,639,779 LIABILITIES Interest-bearing deposits $ 949,546 $ 884,654 Noninterest-bearing deposits 263,954 266,015 Total deposits 1,213,500 1,150,669 Short-term borrowings 125,913 252,532 Long-term borrowings 65,524 70,448 Accrued interest payable 2,281 2,358 Other liabilities 11,190 9,947 TOTAL LIABILITIES 1,418,408 1,485,954 STOCKHOLDERS' EQUITY Common stock, par value $ 1.25 per share; 15,000,000 shares authorized; issued 3,836,988 and outstanding 3,572,288 at March 31, 2024; issued 3,834,976 and outstanding 3,570,276 at December 31, 2023; 4,796 4,794 Additional paid-in capital 83,403 83,343 Retained earnings 92,980 90,514 Accumulated other comprehensive loss ( 16,526 ) ( 15,036 ) Treasury stock, at cost; 264,700 shar

View Full Filing

View this 10-Q filing on SEC EDGAR