Harleysville Financial : Announces Earnings and a 3.6% Increase of the Regular Cash Dividend for First Fiscal Quarter 2022 financials

Harleysville Financial Corporation

Selected Consolidated Financial Data as of December 31, 2021

(Dollars in thousands except per share data)
( Unaudited)								Three Months Ended:
				Dec 31,		Sept 30,		Jun 30,		Mar 31,		Dec 31,
Selected Consolidated Earnings Data				2021					2021					2021					2021					2020
Total interest income	$	6,466				$	6,555				$	6,628				$	6,980				$	7,160
Total interest expense		957					1,067					1,187					1,239					1,340
Net Interest Income		5,509					5,488					5,441					5,741					5,820
Provision for loan losses		60					90					105					95					95
Net Interest Income after Provision for Loan
Losses		5,449					5,398					5,336					5,646					5,725
Gain on sales of loans		17					61					29					96					66
Bank owned life insurance		98					99					95					99					100
Other income		656					679					603					612					637
Total other expenses		3,676					4,203					3,928					3,706					3,594
Income before income taxes		2,544					2,034					2,135					2,747					2,934
Income tax expense		689					488					553					693					832
Net Income		$	1,855				$	1,546				$	1,582				$	2,054				$	2,102
Per Common Share Data
Basic earnings	$	0.50				$	0.41				$	0.42				$	0.55				$	0.56
Diluted earnings	$	0.49				$	0.41				$	0.42				$	0.54				$	0.56
Dividends	$	0.28				$	0.28				$	0.28				$	0.28				$	0.27
Tangible book value	$	21.90				$	21.69				$	21.61				$	21.50				$	21.23
Shares outstanding	3,710,135				3,721,038				3,741,307					3,743,203				3,745,058
Average shares outstanding - basic	3,717,096				3,732,812				3,744,305					3,748,385				3,752,787
Average shares outstanding - diluted	3,759,512				3,776,160				3,788,028					3,780,590				3,776,067
Harleysville Financial Corporation
Selected Consolidated Financial Data as of December 31, 2021
(Dollars in thousands except per share data)
(Unaudited)								Three Months Ended:
				Dec 31,		Sept 30,		Jun 30,		Mar 31,		Dec 31,
Other Selected Consolidated Data				2021					2021					2021					2021					2020
Return on average assets		0.82%				0.68%				0.69%				0.93%				0.98%
Return on average equity		9.19%				7.66%				7.87%				10.29%				10.65%
Net interest rate spread		2.37%				2.34%				2.29%				2.49%				2.61%
Net yield on interest earning assets		2.49%				2.48%				2.44%				2.64%				2.76%
Operating expenses to average assets		1.63%				1.86%				1.72%				1.67%				1.67%
Efficiency ratio		58.69%				67.08%				63.98%				57.44%				54.82%
Ratio of non-performing loans to total
assets at end of period		0.79%				0.84%				0.84%				0.82%				0.89%
Loan loss reserve to total loans, net		0.97%				1.00%				0.95%				0.92%				0.87%
Stockholders' equity to assets		8.94%				9.04%				8.94%				8.90%				9.11%
				Dec 31,		Sept 30,		Jun 30,		Mar 31,		Dec 31,
Selected Consolidated Financial Data				2021					2021					2021					2021					2020
Total assets	$	908,922				$	892,639				$	904,670				$	904,515				$	873,410
Cash & investment securities		248,696					227,857					225,490					220,822					170,640
Mortgage-backed securities		93,985					83,412					76,177					71,683					70,895
Total Investments		342,681					311,269					301,667					292,505					241,535
Consumer Loans receivable		279,807					291,817					303,367					316,840					339,951
Commercial Loans receivable		254,490					250,627					254,856					244,148					237,908
SBA Paycheck Protection Program (PPP)		694					7,782					13,069					18,029					20,990
Loan loss reserve		(5,199)				(5,520)				(5,422)				(5,320)				(5,235)
Total Loans receivable net		529,792					544,706					565,870					573,697					593,614
Total Loans held for sale		464					466					192					939					720
FHLB stock		3,477					3,583					3,955					4,281					4,310
Checking accounts		292,631					273,274					269,246					270,878					257,227
Savings accounts		308,028					299,306					293,948					281,350					256,721
Certificate of deposit accounts		151,085					153,356					159,271					165,310					168,577
Total Deposits		751,744					725,936					722,465					717,538					682,525
Advances		66,682					77,558					89,357					95,043					100,173
Total stockholders' equity		81,254					80,702					80,845					80,467					79,524