HVBC - HVBC STOCK NEWS

HV Bancorp reported Q3 2021 net income of $1.1 million ($0.56/share), down from $2.1 million ($1.02/share) in Q3 2020. Year-to-date net income remains stable at $3.7 million ($1.86/share) for both 2021 and 2020. Total assets decreased to $536.3 million, primarily due to cash outflows, while total deposits dropped 39.8% to $439.9 million. Book value per share rose from $16.75 to $19.52. Notably, the company reduced its provision for loan losses, but non-performing assets increased to $4.0 million (0.78% of total assets).

HV Bancorp, Inc. (Nasdaq: HVBC) has been named to the 2021 Piper Sandler Bank & Thrift Sm-All Stars, recognizing it as one of the top 35 small-cap banks in the U.S. This honor is awarded based on profitability, credit quality, capital strength, and growth metrics, with HVB being the smallest institution by market cap to achieve this status. The selection underscores HV Bancorp’s commitment to excellence in banking and its strategic focus on customer service.

HV Bancorp, Inc. has appointed Robert J. Marino as President, enhancing its executive team to drive growth. Marino, with over 30 years of banking experience, previously held key positions at Spring Garden Lending and Valley Green Bank. His focus will be on fostering relationships and expanding the bank's presence as a community leader in Philadelphia. Chairman Travis J. Thompson expressed confidence in Marino's ability to leverage local knowledge for the bank's development. HV Bancorp serves various counties in Pennsylvania, Delaware, and New Jersey.

HVB reported Q2 2021 net income of $1.3 million ($0.65/share), a decrease from $1.5 million in Q2 2020. For H1 2021, net income rose to $2.6 million from $1.6 million in H1 2020. Total assets at June 30, 2021, were $548.6 million, a 29.2% increase YoY, with total deposits up 45.5% to $437.4 million. Book value per share increased from $15.75 to $19.04 YoY. The company also completed a $10 million subordinated debt offering. Non-performing assets rose to 0.51% of total assets. Overall, HVB continues to navigate pandemic challenges effectively.

HV Bancorp, Inc. (Nasdaq: HVBC) announced the successful completion of a private placement of $10 million in a 4.50% Fixed to Floating Rate Subordinated Note. The Note matures on May 28, 2031, with a fixed interest rate of 4.50% until May 28, 2026, after which it will reset quarterly based on SOFR plus 325 basis points. Proceeds will support general corporate purposes and the Bank’s growth initiatives. The transaction is seen as pivotal for expanding business relationships in the Greater Philadelphia Market.

HV Bancorp, Inc. (HVBC) reported strong financial growth for Q1 2021, with net earnings rising to $1.3 million, or $0.66 per share, compared to $149,000 in Q1 2020. Total assets reached $595.7 million, a 67.5% year-over-year increase, alongside total deposits of $477.2 million, up 71.5%. Notably, non-interest income surged by 95.2%, totaling $4.1 million, while net interest income also grew by 57.1% to $3.3 million. Despite increased non-interest expenses, the company remains well-capitalized with robust liquidity and a growing lending pipeline.

HV Bancorp has announced a new stock repurchase plan for up to 100,000 shares of its common stock. This initiative aims to enhance long-term shareholder value by potentially increasing return on equity and net income per share. The buybacks will utilize liquidity exceeding regulatory requirements and will not significantly impact capital levels. This plan complements a nearly completed previous repurchase initiative.

HV Bancorp (HVBC) reported significant growth in its Q4 and full-year 2020 results, with net earnings surging by 895% to $2.1 million for the quarter and 471% to $5.8 million for the year, driven by a key increase in both interest and non-interest income. Total assets rose to $861.6 million, a 143% increase year-over-year, largely from a substantial rise in deposits, which totaled $730.8 million. Book value per share also improved from $14.81 to $17.78. However, the company continues to monitor loan loss provisions due to COVID-19 uncertainties.

HV Bancorp, Inc. (NASDAQ: HVBC) has appointed Robert J. Marino as the new Vice-Chairman of the Board of Directors, succeeding Scott W. Froggatt, who remains a Director. CEO Travis J. Thompson expressed confidence in Marino's extensive banking experience, which is expected to enhance the bank's operations in the Philadelphia area. Additionally, the board has appointed John D. Behm as chair of the Corporate Governance & Nominating Committee and Audit Committee, while Marino will chair the Compensation Committee.