Harleysville Financial Corporation (OTCQX:HARL) reported today that the Company’s board of directors declared a regular quarterly cash dividend of $.29 per share on the Company’s common stock. The cash dividend will be payable on August 17, 2022 to stockholders of record on August 3, 2022.

Net income for the third quarter was $2,216,000 or $.59 per diluted share compared to $1,582,000 or $.42 per diluted share for the same quarter last year. Net income for the quarter ended June 30, 2021 included SBA Paycheck Protection Program (PPP) fee income totaling $239,000 or $.06 per diluted share.

Net income for the nine months ended June 30, 2022 amounted to $5,898,000 or $1.57 per diluted share compared to $5,738,000 or $1.52 per diluted share for the same nine-month period a year ago. Net income for the nine months ended June 30, 2022 and 2021 included SBA Paycheck Protection Program (PPP) fee income totaling $313,000 and $1,009,000 or $.08 and $.27 per diluted share for the six months ended, respectively.

Brendan J. McGill, President, and Chief Executive Officer of the Company, stated, “We were able to benefit from the rising rate environment and are pleased with our financial results for the quarter and nine months ended. Asset quality, liquidity and capital levels remain strong, and we feel our balance sheet is positioned to continue to take advantage of the rising rate environment. The Bank continues to grow loan originations, which we believe will help expand the net interest margin as interest rates continue to increase, while maintaining our asset quality and expense management.”

The Company’s assets totaled $928.7 million compared to $904.7 million a year ago. Stockholders’ tangible book value increased 3.3% to $22.33 per share from $21.61 a year ago.

Harleysville Financial Corporation is traded on the OTCQX market under the symbol HARL ( http://www.otcmarkets.com ) and is the holding company for Harleysville Bank. Established in 1915, Harleysville Bank is a Pennsylvania chartered and federally insured 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220720005726/en/