X0202 4 2006-12-08 0001163428 WILLOW FINANCIAL BANCORP, INC. WFBC 0001235877 TODD EMORY S C/O WILLOW FINANCIAL BANK 170 SOUTH WARNER ROAD WAYNE PA 19087 1 0 0 0 Common Stock 2006-12-08 4 P 0 399 15.00 A 7683 I By IRA Common Stock 32746 D Stock Option (Right to Buy) 9.25 2012-06-19 Common Stock 8580 8580 D Stock Option (Right to Buy) 12.84 2013-06-30 Common Stock 4086 4086 D Also reflects reinvestment of dividends in 49 shares of the Issuer's common stock since the last filed Form 4. Includes 1,935 shares granted pursuant to the 2005 Recognition and Retention Plan ("RRP") on January 6, 2006 that vest over three years at 33.33% per year commencing on the first anniversary of the date of grant. The option, which originally represented an option to acquire shares of CVAL common stock, became fully exercisable as a result of the merger and converted into an option to acquire shares of the Issuer's common stock with the number of shares subject to the option and the exercise price adjusted based on the exchange ratio of 1.4823. /s/ Emory Todd by Neil Kalani as P.O.A. 2007-01-22