Harleysville National Corporation Holds Annual Meeting
22 April 2004 - 1:24AM
PR Newswire (US)
Harleysville National Corporation Holds Annual Meeting
HARLEYSVILLE, Pa., April 21 /PRNewswire-FirstCall/ -- Two directors
were re-elected and shareholders approved the 2004 Omnibus Stock
Incentive Plan at Harleysville National Corporation's (HNC) annual
meeting, held at Presidential Caterers, Norristown, on April 13.
Re-elected to the HNC Board of Directors were Walter R. Bateman,
II, former Chairman, President and CEO, Harleysville Group, Inc.,
and LeeAnn B. Bergey, President of Bergey's Leasing Associates.
Both Bateman and Bergey are Class B Directors and will serve 4-year
terms. Walter E. Daller, Jr., Chairman, President and CEO of HNC,
spoke to shareholders about the solid year HNC enjoyed in 2003,
including consistent earnings and dividends, a strong balance
sheet, quality assets in the loan and investment portfolios and a
growing Investment Management and Trust Division. "HNC has come out
of this past recession and recent slow recovery in extremely good
condition," he said. Daller also discussed HNC's acquisition of
Millennium Bank and its subsidiary, Cumberland Advisors, Inc.,
which will be final April 30, adding four more banking offices and
doubling the size of trust assets under management to $1.3 billion.
Harleysville's Trust Division will be renamed Millennium Wealth
Management and Private Banking Group and will be headed by David E.
Sparks, as President and CEO. Sparks is currently President and CEO
of Millennium Bank. David R. Kotok, CEO and CIO of Cumberland
Advisors, a $700 million fixed income investment advisory firm, was
a special guest speaker and provided shareholders an overview of
the economy. Kotok, and his Cumberland Advisory subsidiary, will
join HNC at the end of this month as part of the Millennium Wealth
Management and Private Banking Group. Gregg J. Wagner, Executive
Vice President and Chief Operating Officer gave an overview of
HNC's financial performance last year. "During 2003, our record
earnings, strong balance sheet and improved asset quality continued
to build on the strong financial foundation of HNC," he said. HNC
has 28 consecutive years of record earnings and 29 straight years
of increased dividends. Deb Takes, President and CEO of
Harleysville National Bank and Trust Company (HNB), HNC's
subsidiary bank, informed shareholders of the anticipated June
opening of the new main branch location in Harleysville. HNC
recently completed a consolidation of their subsidiary banks,
Security National Bank and Citizens National Bank into HNB. All
banks now operate under the HNB name and customers can enjoy the
convenience of banking at 41 locations, in ten counties, throughout
eastern Pennsylvania. Harleysville National Corporation, with
assets of $2.5 billion, is the holding company for its major
subsidiary, Harleysville National Bank and Trust Company (HNB).
Providing Real Life Financial Solutions, HNB operates 41 offices in
10 counties throughout eastern Pennsylvania. Individuals, families
and businesses can apply for banking, trust and investment services
at any HNB office, by calling 1-888-HNB-2100 or online at
http://www.harleysvillebank.com/. Harleysville National Corporation
stock is traded under the symbol "HNBC" and is commonly quoted
under Nasdaq National Market Issues. For more information, visit
the HNC Web site 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 company'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 Company's filings
with the Securities and Exchange Commission. DATASOURCE:
Harleysville National Corporation CONTACT: Walter E. Daller, Jr.,
Chairman, President and CEO, Harleysville National Corporation,
+1-215-256-8851 Web site: http://www.harleysvillebank.com/
http://www.hncbank.com/
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