HATBORO FEDERAL NEWS
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[FOR IMMEDIATE RELEASE
January 30, 2009
For more information, contact:
Joe Tryon, President
215.675.4000
Email: tryon@hatborofed.com
www.hatborofed.com
Hatboro Federal Reports Record 2008 Earnings
Hatboro Federal Savings, a leading community bank headquartered in Hatboro, PA, today reported record earnings for the year 2008.
"In a year when many banks across the nation struggled with profitability and stability, Hatboro Federal Savings achieved record earnings," said Joseph J. Tryon, president. "We accomplished our financial goals and, most importantly, continue to rank as one of the strongest financial institutions in the nation."
Financial highlights for the calendar year 2008 include:
Assets increased 5.98% from $474,996,867 to $503,412,428; savings deposits increased 6.78%; mortgage loans increased 11.48%; and home equity lines of credit increased 56.09%.
"We are also happy to report that we have $60,699,800 in excess capital, which is almost three times the regulatory capital requirement," said Joe Tryon.
Hatboro Federal Savings was chartered by the Federal Home Loan Bank Board on February 3, 1941. Hatboro Federal Savings has offices in Hatboro, Warrington and Warminster. A new office is scheduled to open in Jamison, Warwick Township, within the next nine months.
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