April 19, 2023
Muncy Bank Financial, Inc. Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Muncy Bank Financial, Inc. (“Muncy Bank” or the “Company”) (OTC: MYBF), in connection with the proposed acquisition of the Company by CCFNB Bancorp, Inc. (OTC: CCFN) (“CCFNB Bancorp”). Under the terms of the merger agreement, the Company’s shareholders will receive 0.9259 shares of CCFNB Bancorp common stock for each share of Muncy Bank common stock owned, representing implied per-share consideration of $37.50 based upon CCFNB Bancorp’s April 18, 2023 closing price of $40.50.
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