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Harleysville Savings Financial Corporation Announces Declaration of Regular Cash Dividend and Earnings for the First Fiscal Qua

^{Published on 2011-01-26 10:00:42 - Market Wire}
 

HARLEYSVILLE, Pa.--([ BUSINESS WIRE ])--Harleysville Savings Financial Corporation (NASDAQ:HARL) reported today that the Companya™s Board of Directors declared a regular quarterly cash dividend of $.19 per share on the Companya™s common stock. This is the 94th consecutive quarter that the Company has paid a cash dividend to its stockholders. The cash dividend will be payable on February 23, 2011 to stockholders of record on February 9, 2011.

Net income for the quarter ended December 31, 2010 was $1,216,000 or $.33 per diluted share compared to $1,214,000 or $.33 per diluted share for the same quarter last year.

Ron Geib, President and Chief Executive Officer of the Company, commented aWe continue to be pleased with our financial results despite the current economic conditions our country is continuing to encounter. We are also pleased with the growth that we have seen in our transactional deposit accounts and our commercial loan balances. We believe the current level of our allowance for credit losses is adequate and we continue to maintain a strong capital position in excess of the well-capitalized regulatory guidelines.a

The Companya™s assets totaled $856.7 million compared to $839.9 million a year ago and stockholdersa™ tangible book value increased to $14.63 per share from $13.96 a year ago.

Harleysville Savings Financial Corporation is the holding company for Harleysville Savings Bank. Established in 1915, Harleysville Savings Bank is a Pennsylvania chartered and federally insured savings bank. Headquartered in Harleysville, PA. The Bank operates from six full-service offices located in Montgomery County and one office located in Bucks County, Pennsylvania.

This presentation may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company's operations, pricing, products and services.