Harleysville National Corporation Receives Approval from the Office of the Comptroller of the Currency to Acquire Willow Financi
October 03 2008 - 4:15PM
PR Newswire (US)
HARLEYSVILLE, Pa., Oct. 3 /PRNewswire-FirstCall/ -- Harleysville
National Corporation (the "Corporation") (NASDAQ:HNBC) announced
that on September 25, 2008, its wholly-owned subsidiary, The
Harleysville National Bank and Trust Company (the "Bank"), received
approval from the Office of the Comptroller of the Currency to
acquire Willow Financial Bank (NASDAQ:WFBC), the wholly-owned
subsidiary of Willow Financial Bancorp, Inc. through the merger of
Willow Financial Bank with and into the Bank. The Office of Thrift
Supervision has also not objected to the transaction. The
Corporation expects to receive the approvals from the Federal
Reserve Board and the Pennsylvania Department of Banking by the end
of October to acquire Willow Financial Bancorp, Inc. in a
previously announced transaction. The Corporation expects to close
the transaction by early December 2008. Harleysville National
Corporation, with assets of $3.9 billion, is the holding company
for Harleysville National Bank (HNB) and its division, East Penn
Bank. Investment Management and Trust Services are provided through
Millennium Wealth Management and Cornerstone, divisions of HNB,
with assets under management of $2.8 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/. The following disclosure is made in
accordance with Rule 165 of the Securities and Exchange Commission.
Harleysville National Corporation has filed a registration
statement on Form S-4 in connection with the transaction, and
Harleysville National Corporation and Willow Financial Bancorp
mailed a joint proxy statement/prospectus to their respective
shareholders in connection with the transaction. Shareholders and
investors are urged to read the joint proxy statement/prospectus,
because it contains important information about Harleysville
National Corporation, Willow Financial Bancorp and the transaction.
You may obtain a free copy of the proxy statement/prospectus as
well as other filings containing information about Harleysville
National Corporation, at the SEC's web site at http://www.sec.gov/.
A free copy of the proxy statement/prospectus, and the filings with
the SEC that are incorporated by reference in the proxy
statement/prospectus, may also be obtained from Harleysville
National Corporation by directing the request to: 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, +1-215-513-2391, or George Rapp,
Executive Vice President and CFO, +1-215-513-2307, both of
Harleysville National Corporation Web site:
http://www.harleysvillebank.com/ http://www.hncbank.com/
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