MCT authorizes stock repurchase

The board of directors of Mauch Chunk Trust Financial Corp. authorized the repurchase of up to 150,000 shares (4.9 percent) of the corporation’s outstanding common stock through Dec. 31.

Repurchases may be made from time to time on the open market or in privately negotiated transactions. The timing and actual number of shares repurchased will depend on market conditions and other requirements. Mauch Chunk Trust Financial Corp. is the parent company of Mauch Chunk Trust Company, a community bank with seven offices in Carbon and Schuylkill County.

On March 31, the corporation had total assets of $417.7 million and shareholders’ equity of $39.2 million.