HARLEYSVILLE, PA – () – A table has been added at the end of the press release published on January 27, 2021.

The updated version reads as follows:

HARLEYSVILLE FINANCIAL CORPORATION ANNOUNCES 3.7% INCREASE IN REGULAR CASH DIVIDEND AND EARNINGS FOR FIRST FINANCIAL QUARTER 2021

Harleysville Financial Corporation (OTCQX: HARL) announced today that the company’s board of directors has declared a regular quarterly cash dividend of $ 0.28 per share on the company’s common stock. This represents an increase of 3.7% or $ 0.01 per share from the previous dividend. The cash dividend will be payable on February 24, 2021 to shareholders of record on February 10, 2021.

Net earnings for the quarter ended December 31, 2020 were $ 2,102,000 or $ 0.56 per diluted share, compared to $ 1,906,000 or $ 0.50 per diluted share for the same quarter last year.

President and CEO Brendan J. McGill said: “Based on the strong financial results for the quarter and our belief that we are positioned for the future, we are pleased to be able to create additional value for our shareholders by increasing the cash dividend to $ 0.28 per share.

As we continue to navigate the COVID-19 pandemic and the resulting economic conditions, the well-being of our customers, team members, shareholders and the communities we serve remains at the forefront. We have and will continue to meet the needs of our customers and support our communities by operating our branches in a safe and socially responsible manner. ”

The company’s assets totaled $ 873.4 million from $ 784.5 million a year ago, and the tangible book value of shareholders increased to $ 21.23 per share from $ 20.51 a year ago. a year.

Harleysville Financial Corporation is listed on the OTCQX market under the symbol HARL (http://www.otcmarkets.com) and is the holding company of Harleysville Bank. Founded in 1915, Harleysville Bank is a federally insured, Pennsylvania chartered bank, headquartered in Harleysville, Pennsylvania. 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 may cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, demand for loans, real estate values ​​and competition; changes in accounting principles, policies or guidelines; changes in laws or regulations; and other economic; competitive, governmental, regulatory and technological factors affecting the Company’s operations, prices, products and services.

Harleysville Financial Corporation
Selected consolidated financial data as of December 31, 2020
(Dollars in thousands except per share data)
(Unaudited) Three months ended:
Selected consolidated revenue data Dec 31 2020 September 30, 2020 June 30, 2020 March 31, 2020 Dec 31 2019
Total interest income

$ 7,160

$ 7,156

$ 7,216

$ 7,536

$ 7,712

Total interest charges

1340

1,510

1,561

1,749

1,864

Net interest income

5 820

5 646

5 655

5 787

5,848

Allowance for loan losses

95

154

353

114

190

Net interest income after allowance for loan losses

5,725

5 492

5,302

5 673

5 658

Gain on loan sales

66

Bank-owned life insurance

100

100

98

99

101

Other income

637

567

455

534

578

Total other expenses

3,594

3,847

3,700

3 910

3,831

Income before taxes

2 934

2 312

2 155

2396

2 506

Income tax expense

832

518

544

596

600

Net revenue

$ 2,102

$ 1,794

$ 1,611

$ 1,800

$ 1,906

Data per common share
Basic earnings

$ 0.56

$ 0.48

$ 0.43

$ 0.48

$ 0.51

Diluted profit

$ 0.56

$ 0.48

$ 0.43

$ 0.47

$ 0.50

Dividends

$ 0.27

$ 0.27

$ 0.27

$ 0.27

$ 0.25

Tangible book value

$ 21.23

$ 20.96

$ 20.76

$ 20.57

$ 20.51

Outstanding shares

3,745,058

3 752 221

3,747,052

3,742,933

3,769,479

Average Shares Outstanding – Basic

3 752 787

3,749,350

3,744,957

3,778,093

3,767,081

Average shares outstanding – diluted

3,776,067

3,775,775

3,775,593

3 827 541

3,822,069

Three months ended:
Other selected consolidated data Dec 31 2020 September 30, 2020 June 30, 2020 March 31, 2020 Dec 31 2019
Return on average assets

0.98%

0.83%

0.78%

0.91%

0.97%

Return on average equity

10.65%

9.21%

8.35%

9.33%

9.96%

Net interest rate spread

2.61%

2.52%

2.63%

2.82%

2.85%

Net return on interest-bearing assets

2.76%

2.69%

2.80%

3.01%

3.05%

Operating expenses at average assets

1.67%

1.79%

1.79%

1.98%

1.95%

Efficiency ratio

54.82%

60.94%

59.60%

60.91%

58.69%

Ratio of total non-performing loans
assets at the end of the period

0.89%

0.88%

0.85%

0.89%

0.96%

Reserve for loan losses of total loans, net

0.87%

0.87%

0.83%

0.81%

0.79%

Equity / assets

9.11%

9.20%

9.13%

9.74%

9.86%

Selected consolidated financial data Dec 31 2020 September 30, 2020 June 30, 2020 March 31, 2020 Dec 31 2019
Total assets

$ 873,410

$ 854,876

$ 851,821

$ 790,447

$ 784,497

Cash and securities

170 640

127,951

104,934

56,088

41,590

Securities backed by mortgages

70 895

81,851

93 970

105,016

109,591

Total investments

241,535

209,802

198,904

161 104

151,181

Consumer loans receivable

339,951

358,472

379,205

391 542

396,270

Commercial loans receivable

258,898

253,698

240,485

204,489

203,433

Reserve for loan losses

(5,235)

(5,308)

(5,167)

(4 820)

(4,711)

Total net loans receivable

593 614

606,862

614,523

591 211

594,992

Total loans held for sale

720

FHLB share

4.310

4,463

4,692

4,699

4 840

Check accounts

257,227

231,068

226,921

193,383

187,490

Savings accounts

256,721

252,117

242,820

220 734

212,986

Certificate of deposit accounts

168,577

174,545

181,489

183,674

188 636

Total deposits

682,525

657,730

651,230

597,791

589,112

Advances

100 173

109,684

109,781

104,804

106,191

Total equity for shareholders

79,524

78 631

77,780

77,007

77,329


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