Middletown Valley Bank, Inc. Reports Results for the Third Quarter 2018
October 23, 2018
Middletown Valley Bank, Inc. (the “Bank”) (OTCPink: MNVB) reported record total assets for the third quarter of 2018 of $428.8 million, an increase of $104.1 million (32%) versus third quarter ended September 30, 2017. Net income for the quarter ended September 30, 2018 was $474.2 thousand and earnings per share of $0.21 (share count is 750.8 thousand higher in 3Q18 vs. 3Q17,) as compared to net income of $513.5 thousand and earnings per share of $0.35 recorded for the third quarter 2017. The Bank earned $1.7 million with earnings per share of $0.75 for the nine months ended on September 30, 2018, as compared to $1.4 million in earnings and earnings per share of $0.96 for the same period in 2017.