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Harleysville Savings Financial Corporation Announces Declaration Of Regular Cash Dividend And Second Quarter Earnings For Fiscal Year 2010

In table, in the Other Selected Consolidated Data section, percentages have changed under Six Months Ended: Mar 31, 2010 for the following rows:

Return on average assetsReturn on average equityInterest rate spreadNet yield on interest earning assetsOperating expenses to average assetsEfficiency ratio

The corrected release reads:


Harleysville Savings Financial Corporation (NASDAQ:HARL) reported today that the Company’s board of directors declared a regular quarterly cash dividend of $.19 per share on the Company’s common stock which represents a 5.56% increase from the prior year. This is the 91st consecutive quarter that the Company has paid a cash dividend to its stockholders. The cash dividend will be payable on May 26, 2010 to stockholders of record on May 12, 2010.

Net income for the second quarter was $1,160,000 or $.32 per diluted share compared to $1,203,000 or $.33 per diluted share for the same quarter last year.

Net income for the six months ended March 31, 2010 amounted to $2,374,000 or $.65 per diluted share compared to $2,579,000 or $.72 per diluted share for the same six-month period a year ago.

Commenting on the quarter-end operating results, President and Chief Executive Officer Ron Geib said, “We are very pleased with the continued growth we are experiencing in our loans, deposits, and the tangible book value of the Company. With the recent opening of our seventh branch in the Souderton area, we are well positioned to provide a convenient community banking relationship for those customers wanting to deal with a locally operated, well-capitalized financial institution. Our team members have been working very hard to create value for all our stakeholders. These results reflect our discipline to preserve our fundamental operating principles of maintaining prudent underwriting standards, investing in high credit quality assets, controlling our operating expenses, and practicing sound capital management.”

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