Printer Friendly

HARLEYSVILLE NATIONAL POSTS PROFITS FOR FIRST QUARTER

 HARLEYSVILLE NATIONAL POSTS PROFITS FOR FIRST QUARTER
 HARLEYSVILLE, Pa., April 8 /PRNewswire/ -- Walter E. Daller Jr.,


president and chief executive officer, Harleysville National Corporation (NASDAQ-NMS: HNBC), reported today that the company's consolidated net income for the first quarter of 1992 was $1,713,181 or $.75 per share.
 This represents an 11.5 percent increase over the $1,536,770 or $.67 per share reported for the first quarter of 1991. The company's consolidated total assets were $498,991,581 at March 31, 1992. This was 7.5 percent above the March 31, 1991, level of $464,059,176.
 "We are extremely pleased with our first quarter performance," Daller said. "Net interest income is up significantly due to strong loan demand at both our subsidiaries. Also, we continue to monitor closely our non-interest expenses. We look forward, with optimism, to serving many new customers with the consummation of our pending Provident branch acquisition at mid-year," Daller continued.
 On Feb. 27, 1992, the board of directors of Harleysville National declared a quarterly cash dividend of $.23 per share, a 9.5 percent increase over the same period last year and a 1 cent increase over the previous quarter.
 Harleysville National Corporation and PNC Financial Corp (NYSE: PNC) announced recently that their respective subsidiaries have reached an agreement whereby Harleysville National Bank and Trust Company will acquire four branches of Provident National Bank of Philadelphia. The branches are located in Collegeville at 364 Main St.; Sellersville, at 209 N. Main St.; and two sites in Quakertown, 224-228 W. Broad St., and Trainer's Corner Shopping Center, Routes 663 and 309. Pending review and approval by various regulatory agencies, the transaction is expected to be completed by mid-1992.
 Harleysville National Corporation's acquisition of Summit Hill Trust Company, in Carbon County, Pa., is, likewise, to be completed by mid- year, the company said.
 Harleysville National Corporation is a bank holding company headquartered in Harleysville, Montgomery County. Harleysville National's wholly owned subsidiaries are Harleysville National Bank and Trust Company which operates 11 branch offices in Montgomery County and has assets in excess of $450 million; and The Citizens National Bank of Lansford, Carbon County, Pa., with assets in excess of $35 million. Harleysville National Corporation stock is traded over-the-counter on the NASDAQ National Market System under the symbol "HNBC."
 /delval/
 -0- 4/8/92
 /CONTACT: Walter E. Daller Jr., president and CEO of Harleysville National Corporation, 215-256-8851, ext. 201/ CO: Harleysville National Corporation ST: Pennsylvania IN: FIN SU: ERN TNM


MP-MK -- PH025 -- 6356 04/08/92 15:01 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 8, 1992
Words:423
Previous Article:TELMEX DESCRIBES STATUS OF NEGOTIATIONS WITH UNION
Next Article:INFINITI REINVENTS THE WHEEL ON ITS FLAGSHIP SEDAN


Related Articles
HARLEYSVILLE NATIONAL DECLARES CASH DIVIDEND
HARLEYSVILLE NATIONAL CORPORATION POSTS PROFITS FOR SECOND QUARTER
HARLEYSVILLE NATIONAL CORPORATION POSTS PROFITS FOR THIRD QUARTER
HARLEYSVILLE GROUP REPORTS FIRST QUARTER EARNINGS
HARLEYSVILLE NATIONAL CORPORATION POSTS PROFITS FOR THIRD QUARTER
EARNINGS UP AT HARLEYSVILLE NATIONAL
HARLEYSVILLE NATIONAL CORPORATION REPORTS RECORD FIRST QUARTER
Record First Quarter Earnings Reported by Harleysville National Corporation (Nasdaq: HNBC)
Harleysville National Corporation Announces Sale of Honesdale, PA Branch to First National Community Bancorp.
Harleysville National Corporation Completes Sale of Honesdale, PA Branch to First National Community Bancorp.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters