Harleysville National Corporation Issues Trust Preferred Securities
August 23 2007 - 8:39AM
PR Newswire (US)
HARLEYSVILLE, Pa., Aug. 23 /PRNewswire-FirstCall/ -- Harleysville
National Corporation (HNC) (NASDAQ:HNBC), announced that HNC
Statutory Trust IV, a Delaware statutory trust subsidiary of
Harleysville National Corporation (the "Trust"), has completed an
offering of $22,500,000 of Capital Securities with a fixed rate
(6.35%) for the first five (5) years and a floating rate (three
month LIBOR plus a margin of 1.28%) for the remaining 25 years,
which represent undivided beneficial interests in the assets of the
Trust. HNC anticipates using the proceeds for general corporate
purposes including funding of the East Penn Financial Corporation
acquisition scheduled to close in the fourth quarter of 2007.
Harleysville National Corporation, with assets of $3.3 billion, is
the holding company for Harleysville National Bank (HNB).
Investment Management and Trust Services are provided through
Millennium Wealth Management, a division of HNB, with assets under
management of $3.2 billion. Harleysville National Corporation stock
is traded under the symbol "HNBC" and is commonly quoted on the
NASDAQ Global Select Market(R). For more information, visit the
Harleysville National Corporation website at
http://www.hncbank.com/ 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 Corporation'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 Corporation's
filings with the Securities and Exchange Commission. DATASOURCE:
Harleysville National Corporation CONTACT: Paul D. Geraghty,
President and CEO of Harleysville National Corporation,
+1-215-513-2391 Web site: http://www.hncbank.com/
Copyright
Harleysville Natl Corp Pa (MM) (NASDAQ:HNBC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Harleysville Natl Corp Pa (MM) (NASDAQ:HNBC)
Historical Stock Chart
From Jul 2023 to Jul 2024