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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Harleysville Financial Corporation (QX) | USOTC:HARL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.12 | 21.19 | 22.13 | 0.00 | 22:00:00 |
Harleysville Savings Financial Corporation (OTCQB:HARL) reported today that the Company’s Board of Directors declared a regular quarterly cash dividend of $.21 per share on the Company’s common stock. The cash dividend will be payable on November 20, 2013 to stockholders of record on November 6, 2013.
Net income for the twelve months ended September 30, 2013 amounted to $4,813,000 or $1.25 per diluted share compared to $5,053,000 or $1.33 per diluted share for the twelve months ended September 30, 2012.
Net income for the fourth quarter of fiscal year 2013 amounted to $1,147,000 or $.30 per diluted share compared to $1,156,000 or $.30 per diluted share for the fourth quarter of fiscal year 2012.
Ron Geib, President and Chief Executive Officer of the Company, stated, “Again this year, we ended our fiscal year with solid financial results in spite of continued economic uncertainty, increased regulatory burden, low demand for loans and pressure on interest margins. Our credit quality remains high, we continue to focus on controlling expenses and the liabilities on our balance sheet continue to experience a shift from certificate of deposits to an increase in core transaction accounts. Between the improved strength of the balance sheet and the work ethic of our highly engaged team members, we are looking forward to continuing to create value for our stakeholders this coming year.”
The Company’s assets totaled $810.4 million compared to $802.6 million a year ago. Stockholders’ book value increased 2.65% to $16.27 per share from $15.85 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. Harleysville is located in Montgomery County, which has the third largest population base and the second highest per capita income in the state of 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.
Harleysville Savings Financial Corporation Selected Consolidated Financial Data as of September 30, 2013 (Dollars in thousands except per share data) Year-To-Date(Unaudited)
Twelve Months Ended: Three Months Ended: Selected Consolidated Earnings DataSept 30,2013
Sept 30,2012
Sept 30,2013
Jun 30,2013
Mar 31,2013
Dec 31,2012
Sept 30,2012
Total interest income $ 30,587 $ 34,533 $ 7,471 $ 7,440 $ 7,669 $ 8,007 $ 8,194 Total interest expense 12,527 15,095 2,967 3,013 3,170 3,377 3,483 Net Interest Income 18,060 19,438 4,504 4,427 4,499 4,630 4,711 Provision for loan losses 890 930 240 210 185 255 170 Net Interest Income after Provision for Loan Losses 17,170 18,508 4,264 4,217 4,314 4,375 4,541 Gain on sale of investments 68 34 - 68 - - - Gain on sales of loans 624 34 32 77 261 254 34 Bank owned life insurance 437 486 109 104 118 106 122 Other income 1,855 1,616 486 445 475 449 382 Total other expenses 12,98213,488 3,273 3,186 3,267 3,256 3,392 Income before income taxes 7,172 7,190 1,618 1,725 1,901 1,928 1,687 Income tax expense 2,359 2,137 471 562 699 627 531 Net Income $ 4,813 $ 5,053 $ 1,147 $ 1,163 $ 1,202 $ 1,301 $ 1,156 Per Common Share Data Basic earnings $ 1.28 $ 1.35 $ 0.30 $ 0.31 $ 0.32 $ 0.35 $ 0.31 Diluted earnings $ 1.25 $ 1.33 $ 0.30 $ 0.30 $ 0.31 $ 0.34 $ 0.30 Dividends $ 0.83 $ 0.78 $ 0.21 $ 0.21 $ 0.21 $ 0.20 $ 0.20 Tangible book value $ 16.27 $ 15.85 $ 16.27 $ 16.17 $ 16.12 $ 15.99 $ 15.85 Shares outstanding 3,786,627 3,768,931 3,786,627 3,781,917 3,774,147 3,779,969 3,768,931 Average shares outstanding - basic 3,774,419 3,747,729 3,783,441 3,778,626 3,768,825 3,766,963 3,752,764 Average shares outstanding - diluted 3,863,016 3,811,447 3,884,851 3,894,556 3,842,381 3,836,023 3,834,826 Year-To-Date Twelve Months Ended: Three Months Ended: Other Selected Consolidated Data
Sept 30,2013
Sept 30,2012
Sept 30,2013
Jun 30,2013
Mar 31,2013
Dec 31,2012
Sept 30,2012
Return on average assets 0.60 % 0.61 % 0.57 % 0.58 % 0.60 % 0.65 % 0.57 % Return on average equity 7.96 % 8.69 % 7.50 % 7.66 % 7.97 % 8.71 % 7.83 % Net interest rate spread 2.14 % 2.26 % 2.12 % 2.10 % 2.14 % 2.20 % 2.23 % Net yield on interest earning assets 2.32 % 2.42 % 2.30 % 2.28 % 2.31 % 2.37 % 2.40 % Operating expenses to average assets 1.62 % 1.64 % 1.62 % 1.60 % 1.64 % 1.62 % 1.68 % Efficiency ratio 63.79 % 62.70 % 64.17 % 64.04 % 64.17 % 62.80 % 65.04 % Ratio of non-performing loans to total assets at end of period 1.58 % 1.85 % 1.58 % 1.68 % 1.96 % 1.95 % 1.85 % Loan loss reserve to total loans, net 0.70 % 0.81 % 0.70 % 0.78 % 0.90 % 0.85 % 0.81 % Stockholders' equity to assets 7.60 % 7.44 % 7.60 % 7.68 % 7.56 % 7.53 % 7.44 % Selected Consolidated Financial DataSept 30,2013
Jun 30,2013
Mar 31,2013
Dec 31,2012
Sept 30,2012
Total assets $ 810,363 $ 796,628 $ 804,421 $ 802,890 $ 802,626 Consumer Loans receivable 359,573 362,581 372,956 378,865 394,634 Commercial Loans receivable 120,091 115,945 110,525 106,029 103,765 Loan loss reserve (3,345 ) (3,732 ) (4,318 ) (4,135 ) (4,032 ) Total Loans receivable net 476,319 474,794 479,163 480,759 494,367 Total Loans held for sale 373 629 356 5,620 3,515 Cash & investment securities 81,393 74,237 92,132 114,789 99,582 Mortgage-backed securities 213,626 207,984 192,824 161,906 162,710 Total Investments 295,019 282,221 284,956 276,695 262,292 FHLB stock 9,070 8,514 8,802 8,834 10,165 Checking accounts 114,058 120,386 113,795 108,408 101,033 Savings accounts 175,910 173,004 171,443 162,887 162,719 Certificate of deposit accounts 248,225 256,899 263,849 272,292 279,171 Total Deposits 538,193 550,289 549,077 543,587 542,923 Advances 204,583 175,203 185,317 191,287 192,483 Total stockholders' equity 61,617 61,156 60,830 60,435 59,736
Harleysville Savings Financial CorporationBrendan J. McGillExecutive Vice President COO/CFO215-256-8828
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