Harleysville Savings Financial Corporation Announces Regular Cash Dividend And Third Quarter Earnings For Fiscal Year 2010
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. The cash dividend will be payable on August 25, 2010 to stockholders of record on August 11, 2010.
Net income for the third quarter was $1,314,000 or $.36 per diluted share, compared to $856,000 or $.24 per diluted share after the $287,000 or $.08 per diluted share after tax adjustment due to the FDIC special assessment for the same quarter last year.
Net income for the nine months ended June 30, 2010 amounted to $3,688,000 or $1.01 per diluted share compared to $3,435,000 or $.95 per diluted share, after the $287,000 or $.08 per diluted share after tax adjustment due to the FDIC special assessment, for the same nine-month period a year ago.
Ron Geib, President and Chief Executive Officer of the Company, stated, “We continue to be very pleased with our growth in loans, deposits and tangible book value. Our team works hard providing financial products and services with hometown, community banking relationships and we are delighted that the bank was recently listed in the top ten of the “best of the best” of the top 100 largest public thrift institutions by SNL Financial for the 2nd consecutive year. We continue to experience positive results through the preservation of our fundamental operating principles of maintaining prudent underwriting standards, investing in high credit quality assets, controlling our operating expenses, and practicing sound capital management.”The Company’s assets totaled $867.1 million compared to $825.2 million a year ago. Stockholders’ book value increased 4.70% to $14.30 per share from $13.66 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 central Montgomery County, which has the third largest population base and the second highest per capita income in the state of Pennsylvania.
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