Hatboro Federal Savings, FA is headquartered in Hatboro and is the 72nd largest bank in the state of Pennsylvania. It is also the 1,544th largest bank in the nation. It was established in 1941 and as of December of 2021, it had grown to 40 employees at 4 locations. Hatboro Federal Savings, FA has an A+ health rating.
Hatboro Fed
I opened a CD at Hatboro Federal Savings due their competitive CD rates. I was looking online for banks that were offering good rates and fund Hatboro Fed which was close to my house. I think they were able to offer such competitive rates due to being a local bank compared to banks like Wells Fargo or PNC. I went in to the Hatboro branch to open the CD and the customer service was great. The process to open the CD was very easy and I left feeling that my money was safe and that this was a good investment decision
Bad Communication And Service
When I opened my checking account they did not say anything about holding my money for 30 days. When I called to see why our money was not available they said that our money was being held because it was a new account and would be held for 30 days. Their flyer states for new accounts that deposits over 5525.00 dollars other than cash wire transfer or electronic deposits will be available the 9th business day following the day of deposit. . I deposited half that amount and they still held my money. Not a customer friendly bank. They don't follow what is on their flyer.
CD Interest Rates Not Keeping Up With Other Institutions
Hatboro Federal Savings Bank CD rates have not kept up with local credit unions and banks. As of the date of this post 2-10-19, Wells Fargo,Univest, Quaint Oak, Navy Federal Credit Union, Freedom Credit Union, Citadel, TruMark Financial and Ambler Savings Bank all have higher rates. Many local institutions are paying 3 to 3.25% on 60 month CD's, while HFS hasn't bumped up their 60 month CD since April 2018, still stuck at 2.5%. Perhaps this is why their deposit growth has stagnated....Lowered rates on July 20th 2019. Highest rate is 2.25%. Local banks and credit unions with higher rates are Ambler Savings Bank, Navy Federal Credit Union, Freedom Credit Union, Trumark and Citadel. Navy Federal has the highest return at 3.50% yield on a 5 year CD.
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30155 |
| Year Established | 1941 |
| Employees | 40 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.59% |
| Return on Equity - YTD | 2.7% |
| Annual Interest Income | $14.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $585.5MM$562.3MM |
| Loans | Q4 2021vs Q4 2020 | $327.3MM$348.0MM |
| Deposits | Q4 2021vs Q4 2020 | $450.6MM$430.1MM |
| Equity Capital | Q4 2021vs Q4 2020 | $127.6MM$125.3MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $1.6MM$2.0MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $3.5MM$5.8MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |