| Over a quarter ago | ||||
Brendan J. McGill,… Brendan J. McGill, President and CEO, stated, "Our third quarter and our nine months ended were impacted by a lower interest rate environment and the COVID-19 pandemic. In response to the COVID-19 pandemic, we took unprecedented steps to protect our team members, our customers and the communities we serve. Our Pandemic Plan was activated and upon the passage of the Coronavirus Aid, Relief, and Economic Security Act, the Company implemented the Paycheck Protection Program through the Small Business Administration. Other actions were taken to assist customers including offering loan deferral programs, enhancing mobile banking and instituting mortgage forbearance." The company's assets totaled $851.8M compared to $795M a year ago. Stockholders' tangible book value increased 3.9% to $20.76 per share from $19.98 a year ago. | ||||
Harleysville Financial… Harleysville Financial announced that the board of directors has approved the commencement of a new stock repurchase program of up to 188,000 shares or approximately 5% of the company's outstanding shares of common stock. The repurchase program will commence immediately following the completion of the company's current repurchase program, which has approximately 63,560 shares remaining for repurchase. Repurchases are authorized to be made by the company from time to time in open-market transactions as, in the opinion of management, market conditions warrant. The repurchased shares will be held as treasury stock and will be available for general corporate purposes. | ||||