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General InformationFinancial InformationWe're proud of our service to the community and our community bank status. If you would like in-depth financial information on The Honesdale National Bank, including balance sheet, income statement, performance and condition ratios, or demographic information,
click here to access the FDIC's Institutional Directory database. Then close the browser window to return. News ReleasesAugust 6, 2010
PA FARM BUREAU’S MOBILE AG ED SCIENCE LAB
MADE APPEARANCE AT
ROUTE 6 PLAZA
Pictured Cutting the Ribbon are:
Karl Eisenhauer, Robert Ferraro – Rt.6 Branch Manager/Loan Officer,
Tonya D. Wible & Marlyn Shaffer
Honesdale, PA – Rt 6 Plaza - The PA Farm Bureau’s Mobile Ag Ed Science Lab made an appearance at HNB’s Route 6 Office on Friday August 6, 2010. This 32 foot mobile agricultural education science lab, came complete with all supplies, a certified teacher, and yes...even air conditioning!
This mobile lab contains 12 work stations. Each station provides space for 2-3 students to complete a hands-on experiment. During the school year this lab accommodates up to 900 students per week! The Mobile Ag Ed Lab is owned and operated by the PA Friends of Agriculture Foundation. For more information on this trailer visit their website at www.pfb.com
July 31, 2010
HNB AWARDED 1ST PLACE FOR FLOAT
IN FOREST CITY OLD HOME WEEK PARADE
Pictured with the 1st Place Trophy for the 2010 Old Home Week Parade are
Virginia Connor, Mary Ann Risboskin, Chris Cook and Melissa Burkhardt
Forest City, PA - The Old Home Week Parade Committee awarded The Honesdale National Bank's "Dragon" as the #1 Float in the 2010 parade on Saturday, July 31st. The fire (or at least steam) breathing Dragon measured about 20' long with 5 employees underneath to give it life. The head was designed and constructed by Deborah Paczkowski at the Corporate Center with the design and painting of the canvas body and finishing touches done by the Forest City staff. People from Montdale and Honesdale helped by participating in both the Thursday Night and Saturday afternoon parades.
Congratulations Forest City on a real TEAM Effort!
The HNB Dragon
June 1, 2010
HONAT BANCORP, INC. ANNOUNCES INITIATION OF
ODD LOT REPURCHASE PROGRAM FOR SHAREHOLDERS
Honesdale, PA - Honat Bancorp, Inc. (the “Corporation”) announced the initiation of a program to allow shareholders owning fewer than 100 shares of the Corporation’s common stock the opportunity to sell all of their shares. Unless extended, the offer will expire on July 16, 2010.
William Schweighofer, President and CEO of the Corporation stated that, “fewer than 2% of the Corporation’s 257,836 issued and outstanding shares are held in odd lots by shareholders, and those shareholders represent approximately 42% of our shareholders of record. The program is designed to reduce administrative costs associated with the maintenance of shareholder records, while also providing an opportunity for interested odd lot shareholders to liquidate their holdings.”
Purchases and sales will be made at a price per share of $350.00. The program, which is voluntary, is offered as an opportunity to provide small shareholders with a convenient and cost effective means to liquidate their holdings. The offer will be open to all shareholders owning less than 100 shares. A letter to eligible shareholders outlining the details of the offer will be mailed this week.
Honat Bancorp, Inc. is the parent holding company of The Honesdale National Bank. The Corporation makes no recommendation regarding selling or buying its stock. Questions or assistance in participating in the program should be directed to William Schweighofer, President and CEO, at (570) 253-3355.
May 13, 2010
Honesdale National Supports 7 Wayne County Libraries
Funds Targeted for Online Resources
Pictured are (L to R): William Bower, Pleasant Mount Library; Thomas Sheridan, HNB EVP & CFO; Debra Robinson, Bethany Library; Maura Rottmund, Hawley Public Library; Molly Rodgers, Wayne County Library Director; Marian Curtis, Northern Wayne Community Library; Amy Alpaugh, Community Library of Lake & Salem Townships; William Schweighofer, HNB President & CEO and Kate Bryant, HNB Bank Secrecy Officer & Wayne County Library Board Member. Carol Shaheen of the Newfoundland Library was absent when the photo was taken.
Honesdale, PA – Representatives of the Wayne County Libraries and The Honesdale National Bank gathered to see a demonstration of some of the online resources available to students and educators that will be available due to HNB’s generous donation. Honesdale National was once again authorized to make approved contributions under the Commonwealth’s Educational Improvement Tax Credit (EITC) Program. They designated a portion of their approved allotment to be donated to the Wayne County Public Library System to support of their “Online Resources for Academic Success” programs.
The Wayne County Public Library System develops and implements educational programs, that when authorized by the Commonwealth, qualifies them as an approved provider. According to Library Director, Molly Rogers, “this funding from Honesdale National provides significant financial support for the efforts of all the libraries in Wayne County in providing online resources for students from Kindergarten through 12th grade, helping to improve their basic math, science and writing skills.”
Bank President & CEO William Schweighofer stated; “we are thankful for all of the dedicated people of the libraries throughout the county. HNB is fortunate to have qualified through the PA Department of Community and Economic Development (DCED) for approved contributions each year since we began applying in 2003. We’re grateful for our customers and shareholders because it is only through their business and support that Honesdale National can make these type investments in the communities we serve. The efforts of these libraries in supporting our area educators and students continues to produce measurable results. This year’s support brings our total EITC investment in local educational programs through the Wayne Public Library to $180,000.”
In 2001, Act 4 established the Educational Improvement Tax Credit (EITC) program, administered by the PA Department of Community and Economic Development (DCED). The act authorizes businesses to make contributions to approved Educational Improvement Organizations and then awards tax credits to these businesses for their participation.
Founded in 1836, The Honesdale National Bank is the oldest locally owned community bank headquartered in Northeastern PA, serving the region with offices in Wayne, Pike, Lackawanna, Susquehanna and Luzerne Counties.
April 22, 2010
Lisa Bonham and Helen Piorkowski Recognized for 40 Years in Banking at HNB
The Pennsylvania Bankers Association’s (PBA) Spring Summit was held on Thursday, April 22nd at The Westmoreland Club in Wilkes-Barre. Helen Piorkowski, Loan Officer, (left in photo) and Lisa Bonham , Assistant Trust Officer (right) were recognized for their 40 years in banking at HNB. Congratulations to Helen & Lisa!
April 10, 2010
Lake Ariel United Methodist Church Collects “Pennies from Heaven”
Pictured are Lisa Dowse & Kathy Enslin of HNB with the children and Leaders of the Lake Ariel United Methodist Church after counting their "Pennies" for Haiti.
Hamlin, PA – During the 40 days of Lent, the children of the Lake Ariel United Methodist Church were challenged to collect pennies for the children of Haiti. For six Sundays the children deposited their coins into a large plastic pretzel jug. The final deposit of coins was made on Easter Sunday, filling the jug to the rim!
Kathy Enslin, Vice President at The Honesdale National Bank, arranged for the children to visit HNB’s Hamlin Office on Saturday, April 10th to count the “pennies” they had collected. Moving the jug from the church to the bank was made easier thanks to the strong arms of Kim Butler & Pastor Ted we were able to get it to the bank in one piece.
The children took turns placing the coins in the automatic coin separator and counter (thankful they didn’t have to count & wrap them by hand). The coins totaled $465.76 and after adding in the bills mixed in with the coins, the grand collected total was $612.76.
Many thanks to Lisa Dowse, Manager of The Honesdale National Bank’s Hamlin Office, her staff, the LAUMC congregation and especially the children for making this project such a big success! This project proved that if we all put what little we may have together, great things can happen. No gift – or giver - is too small.
March 25, 2010
Greg Gula Joins HNB
Honesdale, PA – William Schweighofer, President and CEO of
The Honesdale National Bank has announced that Greg Gula has joined the bank as HNB’s Credit Administration Manager.
These responsibilities will include overseeing of loan operations, collections, credit analysis and loan review functions of the institution.
In making the announcement, Schweighofer stated, “We are extremely pleased to have Greg join our HNB family. For this position, it is imperative we have a professional with his knowledge, experience, attention to detail and genuine concern for the customer. As our bank continues to grow and the loan offerings expand to meet the demands of the markets we serve, it is imperative we have dedicated support for our lenders. I am certain he will support and enhance the personal attention and Hometown service our bank is noted for. Greg recognizes the important role our bank plays in the communities we serve and is committed to assist in building and enhancing those relationships.”
Gula brings over 30 years of banking experience with him to HNB. Most recently he served as a Loan Review Division Manager for another financial institution in the region. Greg began his banking career in 1979 working part time while in college as a Credit Card Authorization Clerk and has held various positions including Loan Adjuster in the Collections Department, Commercial Loans Operations Assistant, Assistant Loan Review Officer and Loan Review Officer. He and his department are located in the Loan Operations Area of Honesdale National’s Corporate Center in Honesdale.
Mr. Gula attended Penn State University and has successfully completed a number of courses, workshops and seminars relating to commercial lending, financial statement analysis, loan documentation and loan loss reserve allowance calculations conducted by leading financial industry training and educational organizations such as RMA, BAI, PBA, AIB and Omega.
Greg is an Elder and Usher at Covenant Presbyterian Church who enjoys fishing, bowling and basketball. A native of Scranton, Mr. Gula lives in Forest City. He’s the proud father of three children, Brian, Jessie and Shannon and the grandfather to Brian & daughter-in-law Sarah’s three children, Connor, Isabelle and Emma.
The Honesdale National Bank, established in 1836, is the area’s oldest independent community bank headquartered in Northeastern PA, with offices in Wayne, Pike, Susquehanna, Lackawanna and Luzerne Counties.
March 22, 2010
HNB PAYS INCREASED QUARTERLY DIVIDEND
REPORTS 2009 PERFORMANCE
173rd Consecutive Annual Payment to Shareholders
Honesdale, PA - The Board of Directors of HONAT Bancorp, Inc., whose wholly owned subsidiary is The Honesdale National Bank, paid a regular quarterly dividend of $.90 per share on February 15, 2010 to shareholders of record as of January 30, 2010. This continues a tradition of the bank having paid a dividend every year since 1837. Honesdale National was chartered in 1836, opening for business on December 26th of that year and paid its first dividend the following year.
The $.90 per share payment represents a 5.88% increase over the dividend paid in February 2009 and is a direct result of the bank’s continued strength, stability and performance. HNB closed out 2009 with Net Earnings of $6.3 Million, resulting in a Return on Average Assts (ROAA) of 1.30%. As of December 31, 2009, the bank’s Total Assets stood at $515.1 Million - up 8.01% from 2008, having experienced growth of 6.25% in Loans and 6.98% in Deposits.
“In a year when financial troubles and failures dominated the news, we are very pleased to report that we continued to produce admirable results”, said William Schweighofer, HNB President & CEO. “Once again HNB is at or near the top of its peer group in almost every meaningful category. We are extremely proud of this performance, especially when considering the increased pressures on earnings. In light of the economy, we increased our provision for bad debts by 14.51% ending the year with an allowance of 1.73% of total loans, another category where we rank near the top of our peer group. A major item that affected earnings in 2009 was the FDIC premium increase. The challenges faced by the FDIC due to bank failures and the underperformance of the financial sector cost healthy banks a significant amount. At HNB, we saw our FDIC premium rise from the $139,000 we paid in 2008 to $908,000 in 2009 - an increase of over $769,000, or 553%! This included a special assessment of $215,000. Yet after all of these additional expenses, our Capital grew 10.46% and now represents 11.17% of total assets.”
“The Board of Directors is very appreciative of our clients and shareholders, and the support they have exhibited throughout the years. HNB’s performance, especially in these economic times, and the solid foundation we build upon as we head into 2010 and beyond are a testament to our focus and adherence to the core principals and values established by our founders.”
The Honesdale National Bank serves Wayne, Pike, Susquehanna, Lackawanna and Luzerne Counties with eight full service branch offices, a Trust & Investment Division and the HNB Mortgage Center.
February 25, 2010
University of Scranton Establishes
The Honesdale National Bank Center for Economic Education
The University of Scranton has established The Honesdale National Bank Center for Economic Education at The University of Scranton, which was funded by a generous donation by the bank. The center will lead economic education outreach to elementary, middle and high school students in Carbon, Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne and Wyoming counties. At the announcement of the center are, seated from left, representing The Honesdale National Bank, William Schweighofer, president and CEO and Mark Graziadio, vice president, with Harold Baillie, Ph.D., provost and vice president for academic affairs at The University of Scranton. Standing from left are, representing The University of Scranton, Michael Mensah, Ph.D., dean of the Kania School of Management and Edward Scahill, Ph.D., associate professor of economics and director of the center and representing EconomicsPennsylvania, Anita Kane, senior vice president.
Scranton, PA –Teaching local high school students about economics is the focus of an initiative forged by The Honesdale National Bank (HNB), The University of Scranton’s Kania School of Management and EconomicsPennsylvania, a nonprofit organization dedicated to improving economic education for students in kindergarten through 12th grade.
Funded by a donation by HNB, the newly established The Honesdale National Bank Center for Economic Education at The University of Scranton will lead economic education outreach to elementary, middle and high school students in Carbon, Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne and Wyoming counties. The center will use EconomicsPennsylvania educational programs aimed at training teachers to help students better understand economic and financial literacy concepts, as well as gain a better understating of the global economy and ways to apply economic principles to solve problems.
“With this alliance between HNB, The University of Scranton, EconomicsPennsylvania and these participating schools, we take a significant step towards improving the financial and economic education of the area’s students,” said William Schweighofer, president and CEO of HNB. “These programs will provide additional tools for the educators, but more importantly, provide the students with expanded opportunities for learning and better prepares them for the transition to life after school. This is a substantial coordinated undertaking to expand the offering of financial and economic educational programs throughout Northeastern PA under the guidance of The University of Scranton and EconomicsPennsylvania and we at The Honesdale National Bank are especially pleased to be involved with this effort.”
One of the programs offered through The Honesdale National Bank Center for Economic Education at The University of Scranton is the Stock Market Game for area students in grades four through 12. The Stock Market Game is a 10-week simulation game during which students invest an imaginary $100,000, buying stocks listed on the major securities exchanges. Students who compete in the game learn how financial markets operate and hone their mathematics and decision-making skills. Teams that place first, second and third in three age-group categories are presented with awards at a ceremony hosted at The University of Scranton.
For the spring 2010 semester, the center will specifically target Stock Market Game participation by students in the school districts of Forest City, Lakeland, Wallenpaupack, Wayne Highlands and Western Wayne. These districts will also receive personalized consulting, technical support and individualized program support.
For additional information about The Honesdale National Bank Center for Economic Education at The University of Scranton, contact Edward Scahill, Ph.D., associate professor of economics at The University of Scranton and director of the center, at 570-941-4187.
The Honesdale National Bank is the oldest locally owned community bank headquartered in Northeastern PA, with offices in Wayne, Pike, Susquehanna, Lackawanna and Luzerne Counties.
December 4, 2009
HNB SUPPORTS WORKFORCE WAYNE
Honesdale, PA –Having signed a Workforce Wayne Community Compact Agreement, The Honesdale National Bank recently delivered on their pledge of financial support. William Schweighofer, HNB President and CEO met with Jennifer Porter and Lyndsay Birmelin of Workforce Wayne and conveyed the bank’s support of their mission - “Working together to build tomorrow’s workforce today”. HNB believes the return on this investment will be a future of well-trained employees, expanded career & technical education and an alliance between business and education – all are key ingredients for the development of our local economy. Honesdale National wholeheartedly supports the Workforce Wayne initiative.
Workforce Wayne is a Wall Street West sub-grantee, and is partially funded by a Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor.
For more information abut Workforce Wayne and their initiatives, contact Jennifer or Lyndsay at 570.253.5334 or visit them online at www.workforcewayne.org.
Pictured (l to r) are Jennifer Porter, Director of Workforce Initiatives, Bill Schweighofer and Lyndsay Birmelin, Workforce Coordinator.
November 13, 2009
HNB HELPS STOCK LOCAL FOOD PANTRY
Honesdale, PA – During the month of October, The Honesdale National Bank collected items for the local food pantry as part of their Casual Day Charity Benefit. William Schweighofer, HNB’s President & CEO stated “The generosity of our employees was overwhelming. Due to their support of this effort, multiple deliveries were made to the Food Pantry throughout the month.”
Pictured are Maggie Klim and Bill Schweighofer, as they prepare to pack up the last load of items collected for the Food Pantry during the month of October.
August 26, 2009
HNB REDEDICATES MONTDALE OFFICE
Scott Township, PA. – The official ribbon cutting and rededication of the Montdale Branch of The Honesdale National Bank was held on August 26th. The ceremony culminated a major renovation project which included the total remodeling of the interior and installation of a handicap accessible front entrance and Drive-Up ATM. The renovations and upgrades to the facility provide for better use of the area and enhances the customer experience.
The Honesdale National Bank is the oldest locally owned community bank headquartered in Northeastern PA, with offices in Wayne, Pike, Susquehanna, Lackawanna and Luzerne Counties.
Pictured are (l to r): 1st row – Montdale Staff Lisa Kozlowski, Linda Short, Paulette Straka (Branch Manager), Kim Canfield and Tammy Kazmierski, HNB Vice President Kathy Enslin and Patricia Prince from PA State Representative James Wansacz’s Office. Behind the Branch Staff are HNB Board Members Paul Meagher and Kurt Propst; Thomas Sheridan Jr. EVP; Paul Vitiello, HNB Financial Services Representative; Vice-Chairman Roger Dirlam, Chairman John Burlein and Board Member Charles Jurgensen; HNB Mortgage Specialist Alison Swanson Messina; Vice Presidents Michael Rollison and Mark Graziadio, Bank President & CEO William Schweighofer, Vice Presidents Ron Sebastianelli and Marcy Swingle and Senior Vice President Ray Ceccotti.
March 13, 2009
HNB Supports Wayne County YMCA
To assist in carrying out the mission of building strong kids, strong families and strong communities, The Honesdale National Bank made a contribution to the Wayne County YMCA. The check was presented to the “Y” at the Bank’s Corporate Center, at 724 Main Street in Honesdale. Pictured are (l to r): Christine San Jose, YMCA Board Member, Tina Hoen, YMCA Executive Director, William Schweighofer, HNB President & CEO and Barbara Pratt, YMCA Board Member.
February 27, 2009
HNB Invests in Penn's Northeast
Pictured are Penny Cannella, President of Penn’s Northeast and HNB President & CEO William Schweighofer.
The importance of marketing the collective assets of the region and facilitating the creation and retention of quality jobs has never been more critical. To assist in carrying out this mission, The Honesdale National Bank renewed their investment in Penn’s Northeast. The check was presented to Penny Cannella, President of Penn’s Northeast’s by HNB President & CEO, William Schweighofer at the Bank’s Corporate Center in Honesdale.
Penn's Northeast is a public/private partnership of agencies dedicated to assisting businesses interested in locating in Northeastern Pennsylvania. They serve the Counties of Lackawanna, Luzerne, Monroe and Wayne and the communities of Berwick and Forest City, providing site selection and incentive financing assistance to businesses, real estate brokers, developers and site selection consultants.
As a single point of contact, Penn’s Northeast is a liaison between their partners, the Commonwealth of Pennsylvania and businesses looking to expand or relocate.
The organization is funded through annual contributions from its founding partners and private investors like Honesdale National. Additional revenue is provided from the Pennsylvania Department of Community and Economic Development to help Penn's Northeast administer the State's Business Retention and Expansion Program.
Founded in 1836, The Honesdale National Bank is the oldest locally owned community bank headquartered in Northeastern PA. HNB serves Wayne, Pike, Susquehanna, Lackawanna and Luzerne Counties with eight full service branch offices, a Trust & Investment Division and the HNB Mortgage Center.
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