Harleysville Savings Financial Corporation Announces Record Earnings for the Fiscal Year Ended September 30, 2016 and the Declaration of Regular Cash Dividend

Harleysville Savings Financial Corporation (OTCQX:HARL) reported today that the Company’s Board of Directors declared a regular quarterly cash dividend of $.21 per share on the Company’s common stock. The cash dividend will be payable on November 16, 2016 to stockholders of record on November 2, 2016.

Net income for the twelve months ended September 30, 2016 amounted to $5,481,000 or $1.45 per diluted share compared to $4,926,000 or $1.30 per diluted share for the twelve months ended September 30, 2015.

Net income for the fourth quarter of fiscal year 2016 amounted to $1,482,000 or $.39 per diluted share compared to $1,213,000 or $.32 per diluted share for the fourth quarter of fiscal year 2015.

Ron Geib, Chief Executive Officer of the Company, stated, “Given the prolonged low interest rate environment, we are pleased with the financial results of the past year and how the balance sheet has been strengthened to allow us to deliver consistent ongoing returns for our shareholders. The financial results include record year of earnings, loan growth while maintaining the level of high credit quality loans, increase in transaction accounts, improvement in efficiency ratio, increase in capital levels and improvement in the interest rate spread.

In addition we have a dedicated team of employees who are committed to our culture and to the taking care of our customers. We look forward to the year ahead and will continue to honor the safe and conservative principles that have served us well over the years."

The Company’s assets totaled $747.2 million compared to $770.5 million a year ago. Stockholders’ book value increased 3.31% to $17.81 per share from $17.24 a year ago.

Harleysville Savings Financial Corporation is traded on the OTCQX market under the symbol HARL (http://www.otcmarkets.com) and is the holding company for Harleysville Savings Bank. Established in 1915, Harleysville Savings Bank is a Pennsylvania chartered and federally insured savings bank, headquartered in Harleysville, PA. The Bank operates from six full-service offices located in Montgomery County and one full-service office located in Bucks County, Pennsylvania.

This presentation may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company's operations, pricing, products and services.

Harleysville Savings Financial Corporation
Selected Consolidated Financial Data as of September 30, 2016
(Dollars in thousands except per share data) Year-To-Date

(Unaudited)

Twelve Months Ended:Three Months Ended:
Selected Consolidated Earnings DataSept 30, 2016 Sept 30, 2015 Sept 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sept 30, 2015
Total interest income $28,704 $ 28,792 $7,106 $ 7,165 $ 7,237 $ 7,196 $ 7,123
Total interest expense 8,1478,8231,9852,0262,0712,0652,149
Net Interest Income 20,557 19,969 5,121 5,139 5,166 5,131 4,974
Provision for loan losses 730875180170180200180
Net Interest Income after Provision for Loan Losses 19,82719,0944,9414,9694,9864,9314,794
Gain on sale of investments - 221 - - - - -
Bank owned life insurance 394 404 97 96 100 101 103
Other income 2,064 1,788 596 459 492 517 461
Total other expenses 13,94214,1473,4433,4473,4983,5543,542
Income before income taxes 8,343 7,360 2,191 2,077 2,080 1,995 1,816
Income tax expense 2,8622,434709708724721603
Net Income $5,481 $ 4,926 $1,482 $ 1,369 $ 1,356 $ 1,274 $ 1,213
Per Common Share Data
Basic earnings $1.48 $ 1.33 $0.40 $ 0.37 $ 0.37 $ 0.34 $ 0.33
Diluted earnings $1.45 $ 1.30 $0.39 $ 0.36 $ 0.36 $ 0.34 $ 0.32
Dividends $0.84 $ 0.84 $0.21 $ 0.21 $ 0.21 $ 0.21 $ 0.21
Tangible book value $17.81 $ 17.24 $17.81 $ 17.62 $ 17.46 $ 17.35 $ 17.24
Shares outstanding 3,686,890 3,704,013 3,686,890 3,688,403 3,689,064

3,716,647

3,704,013
Average shares outstanding - basic 3,699,292 3,714,089 3,685,730 3,687,762 3,715,359

3,708,385

3,710,762
Average shares outstanding - diluted 3,775,173 3,793,381 3,754,474 3,758,443 3,792,483

3,799,986

3,800,438
Harleysville Savings Financial Corporation
Selected Consolidated Financial Data as of September 30, 2016
(Dollars in thousands except per share data) Year-To-Date

(Unaudited)

Twelve Months Ended:Three Months Ended:
Other Selected Consolidated DataSept 30, 2016 Sept 30, 2015 Sept 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sept 30, 2015
Return on average assets 0.72% 0.64 % 0.78% 0.72 % 0.71 % 0.66 % 0.63 %
Return on average equity 8.50% 7.82 % 9.10% 8.49 % 8.43 % 7.97 % 7.63 %
Net interest rate spread 2.61% 2.50 % 2.62% 2.61 % 2.62 % 2.59 % 2.47 %
Net yield on interest earning assets 2.77% 2.66 % 2.80% 2.79 % 2.77 % 2.73 % 2.66 %
Operating expenses to average assets 1.82% 1.83 % 1.82% 1.81 % 1.82 % 1.84 % 1.84 %
Efficiency ratio 60.58% 63.85 % 59.22% 60.54 % 60.75 % 61.82 % 63.96 %

Ratio of non-performing loans to total assets at end of period

1.36% 1.42 % 1.36% 1.42 % 1.46 % 1.51 % 1.42 %
Loan loss reserve to total loans, net 0.72% 0.71 % 0.72% 0.71 % 0.70 % 0.70 % 0.71 %
Stockholders' equity to assets 8.79% 8.29 % 8.79% 8.55 % 8.49 % 8.33 % 8.29 %
Selected Consolidated Financial DataSept 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sept 30, 2015
Total assets $747,174 $ 759,886 $ 758,813 $ 773,706 $ 770,484
Cash & investment securities44,872 43,396 50,635 61,731 62,828
Mortgage-backed securities123,839 132,129 139,809 145,520 150,852
Total Investments 168,711 175,525 190,444 207,251 213,680
Consumer Loans receivable391,384 392,494 388,901 387,599 384,258
Commercial Loans receivable155,488 159,641 146,858 144,961 138,941
Loan loss reserve(3,950) (3,891 ) (3,771 ) (3,718 ) (3,688 )
Total Loans receivable net 542,922 548,244 531,988 528,842 519,511
FHLB stock 5,513 5,859 6,098 7,262 6,910
Checking accounts153,695 153,054 145,608 144,888 140,401
Savings accounts230,659 230,571 224,810 208,338 204,546
Certificate of deposit accounts139,066 148,258 156,013 162,557 169,293
Total Deposits 523,420 531,883 526,431 515,783 514,240
Advances 151,768 153,051 159,608 185,877 185,205
Total stockholders' equity 65,675 64,992 64,428 64,485 63,868

Contacts:

Harleysville Savings Financial Corporation
Brendan J. McGill, President /COO
215-256-8828

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