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Harleysville Savings Bank (HARL) filed Annual Report for the period ended 2011-09-30.
Harleysville Savings Bank has a market cap of $54.9 million; its shares were traded at around $14.33 with a P/E ratio of 10.1 and P/S ratio of 1.4. The dividend yield of Harleysville Savings Bank stocks is 5.2%. Harleysville Savings Bank had an annual average earning growth of 4% over the past 10 years. GuruFocus rated Harleysville Savings Bank the business predictability rank of 3-star.
This is the annual revenues and earnings per share of HARL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of HARL.
Highlight of Business Operations:
Analysis and Determination of the Allowance for Loan Losses — The allowance for loan losses is a valuation allowance for probable losses inherent in the loan portfolio. The Company evaluates the need to establish allowances against losses on loans on a monthly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings.During fiscal 2011, net interest income increased $268,000 or 1.47% from the prior fiscal year. This increase was the result of a .41% decrease in the average interest-earning assets which was offset by a .36% decrease in average interest-bearing liabilities, and an increase in the interest rate spread to 2.07% in fiscal year 2011 from 2.04% in fiscal year 2010. Net income for fiscal 2011 was $5.4 million compared to $5.0 million for the fiscal year ended 2010. The Company’s return on average assets (net income divided by average total assets) was 0.63% during fiscal 2011 compared to 0.59% during fiscal 2010. Return on average equity (net income divided by average equity) was 9.79% during fiscal 2011 compared to 9.73% during fiscal year 2010.
The following table sets forth as of the periods indicated, information regarding: (i) the total dollar amounts of interest income from interest-earning assets and the resulting average yields; (ii) the total dollar amount of interest expense on interest-bearing liabilities and the resulting average costs; (iii) net interest income; (iv) interest rate spread; (v) net interest-earning assets; (vi) the net yield earned on interest-earning assets; and (vii) the ratio of total interest-earning assets to total interest-bearing liabilities. Average balances are calculated on a monthly basis. Yields on tax-exempt assets have not been calculated on a fully tax-exempt basis.
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