Harleysville Savings Financial Corporation Announces Declaration Of Regular Cash Dividend And Earnings For The First Fiscal Quarter 2011

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. 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 “We 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.”

The Company’s assets totaled $856.7 million compared to $839.9 million a year ago and stockholders’ 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.

Harleysville Savings Financial Corporation
Selected Consolidated Financial Data as of December 31, 2010
(Dollars in thousands except per share data)
(Unaudited)			Three Months Ended
Selected Consolidated Earnings Data			Dec 31, 2010			Sept 30, 2010			June 30, 2010			Mar 31, 2010			Dec 31, 2009
Total interest income			$	9,430		$	9,867		$	9,951		$	9,944		$	10,256
Total interest expense				4,975			5,163			5,290			5,425			5,869
Net Interest Income				4,455			4,704			4,661			4,519			4,387
Provision for loan losses				150			150			150			150			150
Net Interest Income after Provision for Loan Losses				4,305			4,554			4,511			4,369			4,237
Other income				501			519			508			458			502
FDIC insurance premiums				226			224			229			226			227
Total other expenses				2,935			2,973			2,976			3,004			2,843
Income before Income Taxes				1,645			1,876			1,814			1,597			1,669
Income tax expense				429			556			500			437			455
Net Income			$	1,216		$	1,320		$	1,314		$	1,160		$	1,214
Per Common Share Data
Basic earnings			$	0.33		$	0.36		$	0.36		$	0.32		$	0.33
Diluted earnings			$	0.33		$	0.35		$	0.36		$	0.32		$	0.33
Dividends			$	0.19		$	0.19		$	0.19		$	0.19		$	0.19
Tangible book value			$	14.63		$	14.47		$	14.30		$	14.12		$	13.96
Shares outstanding				3,704,940			3,687,409			3,670,083			3,660,892			3,645,288
Average shares outstanding - basic				3,693,373			3,678,492			3,665,786			3,654,047			3,633,347
Average shares outstanding - diluted				3,731,203			3,722,324			3,698,977			3,670,280			3,646,284
			Three Months Ended
Other Selected Consolidated Data			Dec 31, 2010			Sept 30, 2010			June 30, 2010			Mar 31, 2010			Dec 31, 2009
Return on average assets				0.57%			0.61%			0.61%			0.55%			0.58%
Return on average equity				9.08%			10.01%			10.12%			9.08%			9.65%
Net interest income rate spread				1.98%			2.07%			2.07%			2.05%			1.97%
Net yield on interest earning assets				2.14%			2.24%			2.24%			2.22%			2.15%
Operating expenses to average assets				1.48%			1.48%			1.50%			1.54%			1.47%
Efficiency ratio				63.78%			61.22%			62.00%			64.89%			62.79%
Ratio of non-performing assets to total assets at end of period				0.39%			0.30%			0.28%			0.23%			0.27%
Loan loss reserve to total loans, net				0.51%			0.48%			0.47%			0.45%			0.43%
Stockholders' equity to assets				6.33%			6.22%			6.05%			6.13%			6.06%
Selected Consolidated Financial Data			Dec 31, 2010			Sept 30, 2010			June 30, 2010			Mar 31, 2010			Dec 31, 2009
Total assets			$	856,681		$	857,140		$	867,109		$	843,074		$	839,894
Consumer Loans receivable - net				419,567			430,303			440,266			437,122			440,287
Commercial Loans				85,220			79,791			75,543			74,373			63,433
Loan loss reserve				2,639			2,504			2,437			2,330			2,194
Cash & investment securities				176,274			166,063			157,904			134,884			132,212
Mortgage-backed securities				127,188			131,628			144,211			145,358			154,293
FHLB stock				15,291			16,096			16,096			16,096			16,096
Checking accounts				80,426			70,912			74,029			68,181			65,413
Savings account				134,671			139,818			136,114			114,875			95,213
Certificate of deposit accounts				316,550			317,370			312,627			308,519			325,715
Total Deposits				531,647			528,100			522,770			491,575			486,341
Advances				265,347			272,047			283,730			290,398			297,141
Total stockholders' equity				54,205			53,351			52,488			51,680			50,904

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