-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GlBJ2cAXpnqb1Irx37wL6kNfBLVigk9YGWaj1zJWyyNp/RqIyJHMg+Yp8YbmKdQw 3f3hYuuqgPgaxAdXy2y2Rg== 0000702902-01-500015.txt : 20010716 0000702902-01-500015.hdr.sgml : 20010716 ACCESSION NUMBER: 0000702902-01-500015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20010630 ITEM INFORMATION: FILED AS OF DATE: 20010713 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARLEYSVILLE NATIONAL CORP CENTRAL INDEX KEY: 0000702902 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 232210237 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-15237 FILM NUMBER: 1680664 BUSINESS ADDRESS: STREET 1: 483 MAIN ST STREET 2: P O BOX 195 CITY: HARLEYSVILLE STATE: PA ZIP: 19438 BUSINESS PHONE: 2152568851 MAIL ADDRESS: STREET 1: 483 MAIN STREET CITY: HARLEYSVILLE STATE: PA ZIP: 19438 GRAPHIC 1 image3.gif begin 644 image3.gif M1TE&.#EA@`*!`/<```````@("!`0$!@8&"$A(2DI*3$Q,3DY.4)"0DI*2E)2 M4EI:6F-C8VMK:W-SX2$A(R,C)24E)RWN?GY^_O[_?W]_______________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M_____________________R'Y!`$``!\`+`````"``H$```C^`#\('$BPH,&# M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRIO8,.*'4NVK-FS:-.J7//JW/'D"-+GMRQ@(#+F#-KWLRYLV?-&20J^$RZM&G, M%"BK7HU4`(#7L&/+GDV[MFW9&"0BN,V[MV_8$U@+'_[3]>_CR&/GCK@[N7/? 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FOR IMMEDIATE RELEASE

CONTACT: Walter E. Daller Jr., President and CEO

PHONE: 215-256-8851 ext. 1201

EARNINGS UP 12.9%

AT HARLEYSVILLE NATIONAL CORPORATION

HARLEYSVILLE, PA (July 12, 2001)- Harleysville National Corporation (HNC) (NASDAQ:HNBC), today announced record second quarter 2001 earnings of $7,121,000, a 12.9% increase over second quarter 2000 earnings of $6,307,000. Net income for the first six months of 2001 was $13,652,000, a 10.5% increase over the $12,352,000 for the comparable period in 2000. The company's consolidated total assets were $2,055,225,000 at June 30, 2001, 10.9% above the June 30, 2000, level of $1,853,030,000.

For the quarter ending June 30, 2001, basic earnings per share of $.78 were 14.7% higher than the $.68 earned during the second quarter of 2000, and diluted earnings per share at $.76 were up 11.8% from $.68 in the second quarter of 2000. For the first six months of 2001, basic earnings per share of $1.49 were up 12.0% from the $1.33 in the comparable period last year. Diluted earnings per share of $1.46 for the first six months of 2001 were higher than the $1.33 year to date June 30, 2000.

"It is extremely gratifying to once again post such strong earnings for our company," said Walter E. Daller Jr., President and CEO of HNC, "especially considering the slow down in our national economy and the weaker earnings announced in other market sectors. The management teams and staff at our three banking subsidiaries are to be commended for an excellent job, sticking to the basics and keeping costs down." Daller added, "Of particular significance this quarter was total assets passing the $2 billion mark for the first time in our company's history. We closed June 30 at $2,055,225,000. It was only 1996 when HNC passed the $1 billion mark for the first time."

Total loans at June 30, 2001, of $1,277,990,000 were 8.7% higher than the June 30, 2000, balance of $1,175,347,000. Non-performing assets, including nonaccrual loans, restructured loans and other real estate owned was .3% of total assets at both June 30, 2001, and June 30, 2000. Loans 90 days past due at June 30, 2001, of $475,000 improved significantly from the June 30, 2000, level of $1,172,000.

Providing real life financial solutions, Harleysville National Corporation (HNC) has assets in excess of $2 billion and operates 38 banking offices in 9 counties throughout Eastern Pennsylvania through its three subsidiary banks - Harleysville National Bank and Trust Company, Citizens National Bank and Security National Bank. Investment Management and Trust Services are provided throughout the company by Harleysville National Bank and Trust Company. Harleysville National Corporation's stock is traded in the over-the-counter market under the symbol "HNBC" and commonly quoted under NASDAQ National Market Issues.

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission.

 

 

 2nd qtr 2001
HARLEYSVILLE NATIONAL CORPORATION    
     
  Six months ended June 30
(Dollars in thousands,    
except per share data) 2001 2000
INCOME:    
Net interest income $69,046 $63,766
Net interest income after    
provision for loan losses 33,600 32,004
Other operating income 9,313 5,511
Other operating expenses 25,705 22,576
Net income 13,652 12,352
     
     
Weighted average number    
of common shares:    
Basic 9,172,619 9,275,758
Diluted 9,354,638 9,286,350
     
PER SHARE:    
Net income:    
Basic 1.49 1.33
Diluted 1.46 1.33
     
Cash dividends paid 0.60 0.53
     
Book value 19.71 17.20
     
     
PERIOD-END BALANCES:    
Total assets $2,055,225 $1,853,030
Loans 1,277,990 1,175,347
Allowance for loan losses 14,708 15,248
Deposits 1,602,851 1,443,134
Shareholders' equity 179,952 152,045
     
     
SELECTED RATIOS:    
Return on average assets 1.38% 1.37%
Return on average shareholders' equity 15.45% 16.65%
Primary capital ratio 9.34% 8.87%
     
HARLEYSVILLE NATIONAL CORPORATION    
     
  Three months ended June 30
(Dollars in thousands,    
except per share data) 2001 2000
INCOME:    
Net interest income $34,537 $32,343
Net interest income after    
provision for loan losses 17,096 16,167
Other operating income 5,121 2,857
Other operating expenses 13,240 11,647
Net income 7,121 6,307
     
     
Weighted average number    
of common shares:    
Basic 9,139,800 9,276,153
Diluted 9,321,820 9,286,745
     
PER SHARE:    
Net income:    
Basic 0.78 0.68
Diluted 0.76 0.68
     
Cash dividends paid 0.30 0.27
     
     
SELECTED RATIOS:    
Return on average assets 1.42% 1.39%
Return on average shareholders' equity 16.00% 16.93%
8-K 3 c8k201.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report - June 30, 2001 Harleysville National Corporation (Exact name of registrant as specified in its charter)
Pennsylvania 0-15237 23-2210237 - ----------------------------- ----------------- ---------------------- (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification Number)
483 Main Street Harleysville, Pennsylvania 19438 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (215) 256-8851 -------------- N/A ----------------------------------------------------------------------- (Former name or former address, if changed since last report) Page 1
Item 1 Changes in Control of Registrant Item 1 Not Applicable Item 2 Acquisition or Disposition of Assets Item 2 Not Applicable Item 3 Bankruptcy or Receivership Item 3 Not Applicable Item 4 Changes in Registrant's Certifying Accountant Item 4 Not Applicable Item 5 Other Events Item 5 Not Applicable Item 6 Resignations of Registrant's Directors Item 6 Not Applicable Item 7 Financial Statements and Exhibits Item 7 (c) Exhibits: Item 7 Exhibit 99 Press Release of Registrant, dated July 12, 2001 Item 8 Change in Fiscal Year Item 8 Not Applicable Item 9 Sales of Equity Securities Pursuant to Regulation S Item 9 Not Applicable
Page 2 Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HARLEYSVILLE NATIONAL CORPORATION (Registrant) /s/ Walter E. Daller, Jr. - ---------------------------------------- Walter E. Daller, Jr. President and Chief Executive Officer Dated: July 12, 2001 Page 3
EXHIBIT INDEX Page Exhibit 99 Press Release of Registrant, dated July 12, 2001 4
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