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Zhejiang Qingshanhu Science & Technology City Administration Committee Hosts China-Kazakhstan Sci-Tech Cooperation Symposium

Zhejiang Qingshanhu Science & Technology City Administration Committee Hosts China-Kazakhstan Sci-Tech Cooperation Symposium

Business Wire4 days ago
BUSINESS WIRE)--Recently, the International Seminar on Industry-Education Integration and Sustainable Development of the National Academy of Sciences directly under the President of Kazakhstan, hosted by the Zhejiang Qingshanhu Science & Technology City Administration Committee, was held at the Qingshanhu Park of Zhejiang Zhonghe Technology in Qingshanhu Science & Technology City, Hangzhou, China. Guided by the cooperation blueprint outlined at the first China–Central Asia Summit in 2023, China and Kazakhstan are accelerating practical cooperation across multiple fields, including science and technology.
At the symposium, representatives from both China and Kazakhstan held in-depth discussions on topics such as policy orientation, industrial demand, educational resource integration, and intelligent transportation. Akylbek Kurishbayev, President of the National Academy of Sciences directly under the President of Kazakhstan, introduced in detail the Spatial-Temporal Intelligence Laboratory, which was jointly established in February 2025 with Zhejiang University of Technology, Zhonghe Technology, and other institutions.
The laboratory adopts an integrated industry–academia–research–application model, focusing on the research and development of key technologies including intelligent early warning, smart agriculture, intelligent logistics, and new energy. It also aims to jointly cultivate digital professionals in collaboration with several universities in Kazakhstan. As part of this initiative, an unveiling ceremony for the Strategic Partner of the International College of Low-Altitude Economy under the Ministry of Industry and Information Technology was held, marking a commitment to building a strong talent pipeline for the lab's future development.
As the birthplace of the Hangzhou West Sci-Tech Innovation Corridor and the main platform of Lin'an District's 'industry-strengthening' strategy, Qingshanhu Science & Technology City has been actively advancing the integrated development of strategic emerging industries focused on new equipment, new materials, and big health. It is seizing new opportunities in the intelligent robotics sector while continuously optimizing its innovation and entrepreneurship policies and financial service infrastructure. The city has already attracted 31 research institutes, 6 national key laboratories, 511 enterprises above designated size, and 522 nationally recognized high-tech enterprises.
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BLOOMSBURG, Pa.--(BUSINESS WIRE)--Muncy Columbia Financial Corporation ('Corporation') (OTCQX: CCFN), parent company of Journey Bank ('Bank'), has released its unaudited consolidated financial results for the second quarter of 2025. Net income, as reported under accounting principles generally accepted in the United States of America ('GAAP'), for the second quarter 2025 was $5,768,000, or $1.63 per share, compared to $4,707,000, or $1.32 per share, for the second quarter 2024. Net income, as reported under GAAP, for the six months ended June 30, 2025 was $10,113,000, or $2.86 per share compared to $8,743,000, or $2.45 per share for the same period in 2024. Return on average assets and return on average equity were 1.44% and 13.33%, respectively, for the second quarter 2025 as compared to 1.20% and 12.28%, respectively, for the second quarter 2024. 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For the second quarter 2025 total cash dividends of $0.95 per share were paid to stockholders, which includes the impact of a special one-time cash dividend of $0.50 per share, as compared to $0.44 for the same period of 2024. The Corporation remains well capitalized, with an equity to assets ratio of 10.91% at June 30, 2025 as compared to 10.43% at December 31, 2024. 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, 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. Muncy Columbia Financial Corporation Consolidated Statements of Income For the Three Months Ended For the Six Months Ended June 30, June 30, (In Thousands, Except Share and Per Share Data) (Unaudited) 2025 2024 2025 2024 INTEREST AND DIVIDEND INCOME Interest and fees on loans: Taxable $ 18,805 $ 17,741 $ 37,089 $ 34,997 Tax-exempt 420 332 818 685 Interest and dividends on investment securities: Taxable 1,311 1,020 2,408 2,181 Tax-exempt 860 836 1,720 1,666 Dividend and other interest income 165 204 333 427 Deposits in other banks 101 62 135 128 TOTAL INTEREST AND DIVIDEND INCOME 21,662 20,195 42,503 40,084 INTEREST EXPENSE Deposits 6,037 5,610 11,838 10,220 Short-term borrowings 252 1,427 795 3,924 Long-term borrowings 565 798 1,194 1,645 TOTAL INTEREST EXPENSE 6,854 7,835 13,827 15,789 NET INTEREST INCOME 14,808 12,360 28,676 24,295 PROVISION FOR CREDIT LOSSES 254 29 364 119 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 14,554 12,331 28,312 24,176 NON-INTEREST INCOME Service charges and fees 709 667 1,431 1,282 Interchange fees 673 687 1,296 1,306 Gain on sale of loans 71 93 154 169 Earnings on bank-owned life insurance 233 229 464 456 Brokerage 252 192 485 416 Trust 280 204 518 410 Gains (losses) on marketable equity securities 14 (38 ) (20 ) (155 ) Realized losses on available-for-sale debt securities, net (426 ) - (426 ) (8 ) Other non-interest income 431 385 780 1,075 TOTAL NON-INTEREST INCOME 2,237 2,419 4,682 4,951 NON-INTEREST EXPENSE Salaries and employee benefits 4,984 4,640 11,304 9,442 Occupancy 640 581 1,360 1,199 Furniture and equipment 460 384 886 790 Pennsylvania shares tax 301 230 602 440 Professional fees 414 319 862 776 Director's fees 165 105 318 239 Federal deposit insurance 217 188 435 408 Data processing and telecommunications 1,078 904 1,917 1,824 Automated teller machine and interchange 101 106 365 368 Merger-related expenses - 201 - 297 Amortization of intangibles 516 549 1,026 1,098 Other non-interest expense 980 987 1,872 1,959 TOTAL NON-INTEREST EXPENSE 9,856 9,194 20,947 18,840 INCOME BEFORE INCOME TAX PROVISION 6,935 5,556 12,047 10,287 INCOME TAX PROVISION 1,167 849 1,934 1,544 NET INCOME $ 5,768 $ 4,707 $ 10,113 $ 8,743 EARNINGS PER SHARE - BASIC AND DILUTED $ 1.63 $ 1.32 $ 2.86 $ 2.45 WEIGHTED AVERAGE SHARES OUTSTANDING 3,533,977 3,572,345 3,533,356 3,571,344 Expand At or 3 Months Ended (Unaudited) (Dollars in Thousands, Except Per Share Data) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Operating Highlights Net income $ 5,768 $ 4,345 $ 5,224 $ 5,056 $ 4,707 Net interest income 14,808 13,868 13,396 12,774 12,360 Provision for credit losses 254 110 567 151 29 Non-interest income 2,237 2,445 2,709 2,715 2,419 Non-interest expense 9,856 11,091 9,455 9,367 9,194 Balance Sheet Highlights Total assets $ 1,616,215 $ 1,602,336 $ 1,595,958 $ 1,607,322 $ 1,592,300 Loans, net and loans held for sale 1,149,624 1,135,981 1,117,770 1,105,421 1,092,057 Goodwill and other intangibles, net 34,653 35,164 35,656 36,202 36,760 Total deposits Noninterest-bearing $ 272,680 $ 273,783 $ 259,700 $ 269,515 $ 263,419 Savings 194,816 195,748 194,958 192,644 199,626 NOW 422,415 406,330 380,801 364,459 346,000 Money Market 104,677 103,759 108,263 112,319 117,770 Time Deposits 366,475 359,015 348,707 351,532 338,812 Total interest-bearing deposits 1,088,383 1,064,852 1,032,729 1,020,954 1,002,208 Core deposits* 994,588 979,620 943,722 938,937 926,815 Selected Ratios Fully tax-equivalent net interest margin 4.04 % 3.83 % 3.63 % 3.48 % 3.43 % Annualized return on average assets 1.44 % 1.10 % 1.30 % 1.26 % 1.20 % Annualized return on average equity 13.33 % 10.33 % 12.30 % 12.34 % 12.28 % Capital Ratios - Journey Bank** Common equity tier I capital ratio 15.35 % 15.13 % 15.06 % 14.59 % 14.06 % Tier 1 capital ratio 15.35 % 15.13 % 15.06 % 14.59 % 14.06 % Total risk-based capital ratio 16.34 % 16.13 % 16.03 % 15.54 % 14.99 % Leverage ratio 9.43 % 9.30 % 9.10 % 8.82 % 8.68 % Asset Quality Ratios Non-performing assets $ 13,844 $ 12,300 $ 10,117 $ 8,575 $ 7,736 Allowance for credit losses - loans 10,167 9,985 9,858 9,415 9,362 Allowance for credit losses to total loans 0.88 % 0.87 % 0.88 % 0.85 % 0.85 % Non-performing assets to total assets 0.86 % 0.77 % 0.63 % 0.53 % 0.49 % Per Share Data Earnings per share $ 1.63 $ 1.23 $ 1.47 $ 1.42 $ 1.32 Dividend declared per share*** 0.95 0.45 0.44 0.44 0.44 Book value 49.87 48.50 47.11 47.35 44.11 Common stock price: Bid $ 47.25 $ 40.25 $ 41.88 $ 33.35 $ 32.10 Ask 49.05 42.00 42.88 34.25 34.75 Weighted average common shares 3,533,977 3,532,727 3,555,920 3,574,043 3,572,345 * Core deposits are defined as total deposits less time deposits ** Capital ratios for the most recent period are estimated *** Includes special one-time cash dividend of $0.50 per share for the three months ended 6/30/2025 Expand

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