UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Lance O. Diehl, President and Chief Executive Officer, announced the consolidated financial results for Muncy Columbia Financial Corporation for the first quarter 2026. On April 20, 2026, Muncy Columbia Financial Corporation issued a press release titled “Muncy Columbia Financial Corporation Announces First Quarter 2026 Earnings” attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits
| Exhibit Number | Description |
| 99.1 | Press Release issued by Muncy Columbia Financial Corporation on April 20, 2026 titled “Muncy Columbia Financial Corporation Announces First Quarter 2026 Earnings” |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Date: April 20, 2026 | Muncy Columbia Financial Corporation | |
| By: | /s/ Joseph K. O’Neill, Jr. | |
| Name: | Joseph K. O’Neill, Jr. | |
| Title: | Executive Vice President and Chief Financial Officer | |
Exhibit 99.1
Press Release – For Immediate Release
April 20, 2026
Muncy Columbia Financial Corporation Announces First Quarter 2026 Earnings
Bloomsburg, PA – Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (“Bank”), has released its unaudited consolidated financial results for the first quarter of 2026.
Unaudited Financial Information
Net income, as reported under accounting principles generally accepted in the United States of America (“GAAP”), for the first quarter 2026 was $7,156,000, or $2.02 per share, compared to $4,345,000, or $1.23 per share, for the first quarter 2025. Return on average assets and return on average equity were 1.72% and 14.83%, respectively, for the first quarter 2026 as compared to 1.10% and 10.33%, respectively, for the first quarter 2025.
Net interest income of $16,443,000 for the first quarter 2026 increased $2,575,000 from the first quarter 2025 reflecting an increase in total interest and dividend income of $2,060,000 and a decrease of $515,000 in total interest expense. The fully-tax equivalent net interest margin was 4.33% for the first quarter 2026 as compared to 3.83% for the first quarter 2025.
For the first quarter 2026, a $69,000 provision for credit losses was recorded compared to a $110,000 provision for the first quarter 2025. As of March 31, 2026, the allowance for credit losses to total loans was 0.84% compared to 0.85% as of December 31, 2025.
Total non-interest income increased $45,000 to $2,490,000 for the first quarter 2026, compared to the first quarter 2025 amount of $2,445,000. For the first quarter 2026, a $637,000 loss on sale of loans was recorded, compared to a gain on sale of loans of $83,000 for the first quarter 2025. On January 28, 2026, the Bank entered into an Asset Purchase and Interim Servicing Agreement pursuant to which the Bank agreed to sell a portfolio of 82 individual delinquent, nonperforming or reperforming 1-4 family residential mortgage loans. The purchase price was approximately $9.1 million and was paid in cash. The outstanding principal balance of the loans was approximately $9.8 million. The resulting pretax loss of $714,000 was recognized during the first quarter 2026. This loss was partially offset by ongoing gains on sale of loans of $77,000 recognized during the first quarter 2026. Other significant variances in total non-interest income included an increase in gains (losses) on marketable equity securities of $113,000 due to market value changes comparing the first quarter 2026 to the first quarter 2025 and an increase in other non-interest income of $580,000 due primarily to a sales tax refund received from the Commonwealth of Pennsylvania of $454,000 during the first quarter 2026 resulting from a state sales and use tax review engagement.
Total non-interest expense decreased $894,000 from $11,091,000 for the first quarter 2025, to $10,197,000 for the first quarter 2026. Salaries and employee benefits expense of $5,333,000 for the first quarter 2026 decreased $987,000 from $6,320,000 for the first quarter 2025. The Corporation recorded one-time pretax expenses totaling $1,295,000 in conjunction with the retirement of its Executive Chairman during the first quarter 2025. This decrease was partially offset by health insurance expenses associated with the Corporation’s partially self-funded health insurance plan which were $165,000 higher in the first quarter 2026 than the first quarter 2025 along with ongoing salary and wage increases for employees. Other significant variances in total non-interest expense included an increase in professional fees of $196,000 due primarily to fees paid in conjunction with the sales and use tax review engagement noted above and a decrease in automated teller machine and interchange expenses of $102,000 due primarily to lower automated teller machine processing expenses comparing the first quarter 2026 to the first quarter 2025.
Total assets amounted to $1,717,328,000 at March 31, 2026, as compared to $1,673,199,000 at December 31, 2025. For the quarter ended March 31, 2026, cash and cash equivalents increased $11,897,000, available-for-sale debt securities increased $27,948,000 and loans receivable held for investment increased by $3,938,000. Total liabilities amounted to $1,525,270,000 at March 31, 2026, as compared to $1,480,658,000 at December 31, 2025. Total deposits increased $40,816,000 during the quarter ended March 31, 2026, representing strong organic deposit growth. Dividends payable at March 31, 2026, reflect the Corporation’s special one-time cash dividend of $1.00 per share which was declared on February 18, 2026, and is payable on April 23, 2026, to shareholders of record as of April 8, 2026.
Total non-performing assets amounted to $9,360,000 or 0.55% of total assets at March 31, 2026, as compared to $11,978,000 or 0.72% of total assets at December 31, 2025. The decrease in non-performing assets was primarily attributable to a decrease in non-accrual loans from $11,523,000 at December 31, 2025, to $9,095,000 at March 31, 2026. The decrease in non-accrual loans during the first quarter 2026 was largely driven by the loan sale noted above.
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Total stockholders’ equity equated to a book value per share of $54.29 at March 31, 2026, as compared with $54.44 at December 31, 2025. For the first quarter 2026 total cash dividends of $1.46 per share were declared, which includes the impact of a special one-time cash dividend of $1.00 per share, as compared to $0.45 for the same period of 2025. The Corporation remains well capitalized, with an equity to assets ratio of 11.18% at March 31, 2026, as compared to 11.51% at December 31, 2025.
About Muncy Columbia Financial Corporation
Muncy Columbia Financial Corporation (“MCFC”) is a registered financial holding company headquartered in Bloomsburg, Pennsylvania. MCFC has one subsidiary bank, Journey Bank, serving individuals, families, nonprofits and business clients throughout Clinton, Columbia, Luzerne, Lycoming, Montour, Northumberland and Sullivan Counties through 22 banking offices.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and any other risks described in the “Risk Factors” sections of reports filed by the Corporation with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.
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Muncy Columbia Financial Corporation
Consolidated Balance Sheets
| (In Thousands, Except Share and Per Share Data) (Unaudited) | March 31, 2026 | December 31, 2025 | ||||||
| ASSETS | ||||||||
| Cash and due from banks | $ | 13,529 | $ | 12,828 | ||||
| Interest-bearing deposits in other banks | 46,908 | 35,712 | ||||||
| Total cash and cash equivalents | 60,437 | 48,540 | ||||||
| Available-for-sale debt securities, at fair value | 355,193 | 327,245 | ||||||
| Marketable equity securities, at fair value | 1,490 | 1,411 | ||||||
| Restricted investment in bank stocks, at cost | 5,319 | 5,412 | ||||||
| Loans held for sale | 966 | 847 | ||||||
| Loans receivable | 1,181,519 | 1,177,581 | ||||||
| Allowance for credit losses | (9,968 | ) | (9,959 | ) | ||||
| Loans, net | 1,171,551 | 1,167,622 | ||||||
| Premises and equipment, net | 25,991 | 26,263 | ||||||
| Foreclosed assets held for sale | 265 | 320 | ||||||
| Accrued interest receivable | 5,331 | 5,063 | ||||||
| Bank-owned life insurance | 41,992 | 41,740 | ||||||
| Investment in limited partnerships | 4,159 | 4,346 | ||||||
| Deferred tax asset, net | 6,328 | 5,992 | ||||||
| Goodwill | 25,609 | 25,609 | ||||||
| Other intangible assets, net | 7,588 | 8,042 | ||||||
| Other assets | 5,109 | 4,747 | ||||||
| TOTAL ASSETS | $ | 1,717,328 | $ | 1,673,199 | ||||
| LIABILITIES | ||||||||
| Interest-bearing deposits | $ | 1,170,358 | $ | 1,135,740 | ||||
| Noninterest-bearing deposits | 283,210 | 277,012 | ||||||
| Total deposits | 1,453,568 | 1,412,752 | ||||||
| Short-term borrowings | 10,654 | 12,455 | ||||||
| Long-term borrowings | 40,649 | 40,584 | ||||||
| Dividends payable | 3,537 | — | ||||||
| Accrued interest payable | 1,719 | 1,644 | ||||||
| Other liabilities | 15,143 | 13,223 | ||||||
| TOTAL LIABILITIES | 1,525,270 | 1,480,658 | ||||||
| STOCKHOLDERS' EQUITY | ||||||||
| Common stock, par value $1.25 per share; 15,000,000 shares authorized; | ||||||||
| issued 3,846,134 and outstanding 3,537,409 at March 31, 2026; | ||||||||
| issued 3,845,479 and outstanding 3,536,754 at December 31, 2025 | 4,808 | 4,807 | ||||||
| Additional paid-in capital | 83,756 | 83,720 | ||||||
| Retained earnings | 121,355 | 119,364 | ||||||
| Accumulated other comprehensive loss | (6,554 | ) | (4,043 | ) | ||||
| Treasury stock, at cost; 308,725 shares at March 31, 2026 and December 31, 2025 | (11,307 | ) | (11,307 | ) | ||||
| TOTAL STOCKHOLDERS' EQUITY | 192,058 | 192,541 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,717,328 | $ | 1,673,199 | ||||
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Muncy Columbia Financial Corporation
Consolidated Statements of Income
| For the Three Months Ended | ||||||||
| March 31, | ||||||||
| (In Thousands, Except Share and Per Share Data) (Unaudited) | 2026 | 2025 | ||||||
| INTEREST AND DIVIDEND INCOME | ||||||||
| Interest and fees on loans: | ||||||||
| Taxable | $ | 19,345 | $ | 18,284 | ||||
| Tax-exempt | 413 | 398 | ||||||
| Interest and dividends on investment securities: | ||||||||
| Taxable | 1,833 | 1,097 | ||||||
| Tax-exempt | 870 | 860 | ||||||
| Dividend and other interest income | 136 | 168 | ||||||
| Deposits in other banks | 304 | 34 | ||||||
| TOTAL INTEREST AND DIVIDEND INCOME | 22,901 | 20,841 | ||||||
| INTEREST EXPENSE | ||||||||
| Deposits | 5,893 | 5,801 | ||||||
| Short-term borrowings | 95 | 543 | ||||||
| Long-term borrowings | 470 | 629 | ||||||
| TOTAL INTEREST EXPENSE | 6,458 | 6,973 | ||||||
| NET INTEREST INCOME | 16,443 | 13,868 | ||||||
| PROVISION FOR CREDIT LOSSES | 69 | 110 | ||||||
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 16,374 | 13,758 | ||||||
| NON-INTEREST INCOME | ||||||||
| Service charges and fees | 753 | 722 | ||||||
| Interchange fees | 617 | 623 | ||||||
| (Loss) gain on sale of loans | (637 | ) | 83 | |||||
| Earnings on bank-owned life insurance | 232 | 231 | ||||||
| Brokerage | 238 | 233 | ||||||
| Trust | 279 | 238 | ||||||
| Gains (losses) on marketable equity securities | 79 | (34 | ) | |||||
| Other non-interest income | 929 | 349 | ||||||
| TOTAL NON-INTEREST INCOME | 2,490 | 2,445 | ||||||
| NON-INTEREST EXPENSE | ||||||||
| Salaries and employee benefits | 5,333 | 6,320 | ||||||
| Occupancy | 734 | 720 | ||||||
| Furniture and equipment | 379 | 426 | ||||||
| Pennsylvania shares tax | 375 | 301 | ||||||
| Professional fees | 644 | 448 | ||||||
| Director's fees | 167 | 153 | ||||||
| Federal deposit insurance | 195 | 218 | ||||||
| Data processing and telecommunications | 879 | 839 | ||||||
| Automated teller machine and interchange | 162 | 264 | ||||||
| Amortization of intangibles | 454 | 510 | ||||||
| Other non-interest expense | 875 | 892 | ||||||
| TOTAL NON-INTEREST EXPENSE | 10,197 | 11,091 | ||||||
| INCOME BEFORE INCOME TAX PROVISION | 8,667 | 5,112 | ||||||
| INCOME TAX PROVISION | 1,511 | 767 | ||||||
| NET INCOME | $ | 7,156 | $ | 4,345 | ||||
| EARNINGS PER SHARE - BASIC AND DILUTED | $ | 2.02 | $ | 1.23 | ||||
| WEIGHTED AVERAGE SHARES OUTSTANDING | 3,536,761 | 3,532,727 | ||||||
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| At or Three Months Ended (Unaudited) | ||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | 3/31/2026 | 12/31/2025 | 9/30/2025 | 6/30/2025 | 3/31/2025 | |||||||||||||||
| Operating Highlights | ||||||||||||||||||||
| Net income | $ | 7,156 | $ | 7,393 | $ | 6,719 | $ | 5,768 | $ | 4,345 | ||||||||||
| Net interest income | 16,443 | 16,272 | 15,651 | 14,808 | 13,868 | |||||||||||||||
| Provision (credit) for credit losses | 69 | (4 | ) | 479 | 254 | 110 | ||||||||||||||
| Non-interest income | 2,490 | 2,789 | 2,892 | 2,237 | 2,445 | |||||||||||||||
| Non-interest expense | 10,197 | 10,095 | 9,978 | 9,856 | 11,091 | |||||||||||||||
| Balance Sheet Highlights | ||||||||||||||||||||
| Total assets | $ | 1,717,328 | $ | 1,673,199 | $ | 1,654,950 | $ | 1,616,215 | $ | 1,602,336 | ||||||||||
| Loans, net and loans held for sale | 1,172,517 | 1,168,469 | 1,160,829 | 1,149,624 | 1,135,981 | |||||||||||||||
| Goodwill and other intangibles, net | 33,197 | 33,651 | 34,142 | 34,653 | 35,164 | |||||||||||||||
| Total deposits | ||||||||||||||||||||
| Noninterest-bearing | $ | 283,210 | $ | 277,012 | $ | 272,376 | $ | 272,680 | $ | 273,783 | ||||||||||
| Savings | 196,828 | 192,311 | 192,903 | 194,816 | 195,748 | |||||||||||||||
| NOW | 451,699 | 461,367 | 456,661 | 422,415 | 406,330 | |||||||||||||||
| Money Market | 127,633 | 104,726 | 107,853 | 104,677 | 103,759 | |||||||||||||||
| Time Deposits | 394,198 | 377,336 | 367,097 | 366,475 | 359,015 | |||||||||||||||
| Total interest-bearing deposits | 1,170,358 | 1,135,740 | 1,124,514 | 1,088,383 | 1,064,852 | |||||||||||||||
| Core deposits* | 1,059,370 | 1,035,416 | 1,029,793 | 994,588 | 979,620 | |||||||||||||||
| Selected Ratios | ||||||||||||||||||||
| Fully tax-equivalent net interest margin | 4.33% | 4.27% | 4.15% | 4.04% | 3.83% | |||||||||||||||
| Annualized return on average assets | 1.72% | 1.77% | 1.63% | 1.44% | 1.10% | |||||||||||||||
| Annualized return on average equity | 14.83% | 15.49% | 14.81% | 13.33% | 10.33% | |||||||||||||||
| Capital Ratios - Journey Bank** | ||||||||||||||||||||
| Common equity tier I capital ratio | 15.87% | 15.92% | 15.69% | 15.33% | 15.13% | |||||||||||||||
| Tier 1 capital ratio | 15.87% | 15.92% | 15.69% | 15.33% | 15.13% | |||||||||||||||
| Total risk-based capital ratio | 16.81% | 16.87% | 16.70% | 16.33% | 16.13% | |||||||||||||||
| Leverage ratio | 9.89% | 9.93% | 9.62% | 9.43% | 9.30% | |||||||||||||||
| Asset Quality Ratios | ||||||||||||||||||||
| Non-performing assets | $ | 9,360 | $ | 11,978 | $ | 15,536 | $ | 13,844 | $ | 12,300 | ||||||||||
| Allowance for credit losses - loans | 9,968 | 9,959 | 10,548 | 10,167 | 9,985 | |||||||||||||||
| Allowance for credit losses to total loans | 0.84% | 0.85% | 0.90% | 0.88% | 0.87% | |||||||||||||||
| Non-performing assets to total assets | 0.55% | 0.72% | 0.94% | 0.86% | 0.77% | |||||||||||||||
| Per Share Data | ||||||||||||||||||||
| Earnings per share | $ | 2.02 | $ | 2.09 | $ | 1.90 | $ | 1.63 | $ | 1.23 | ||||||||||
| Dividends declared per share*** | 1.46 | 0.45 | 0.45 | 0.95 | 0.45 | |||||||||||||||
| Book value | 54.29 | 54.44 | 52.17 | 49.87 | 48.50 | |||||||||||||||
| Common stock price: | ||||||||||||||||||||
| Bid | $ | 65.90 | $ | 47.81 | $ | 49.36 | $ | 47.25 | $ | 40.25 | ||||||||||
| Ask | 70.72 | 59.54 | 50.00 | 49.05 | 42.00 | |||||||||||||||
| Weighted average common shares | 3,536,761 | 3,535,985 | 3,535,009 | 3,533,977 | 3,532,727 | |||||||||||||||
* Core deposits are defined as total deposits less time deposits
** Capital ratios for the most recent period are estimated
*** Includes special one-time cash dividends of $1.00 per share for the three months ended 3/31/2026 and $0.50 per share for the three months ended 6/30/2025
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