Hatboro Federal Savings, FA is headquartered in Hatboro and is the 70th largest bank in the state of Pennsylvania. It is also the 1,539th largest bank in the nation. It was established in 1941 and as of June of 2022, it had grown to 37 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
Updated August 20, 2022. Hatboro Federal Savings Bank CD rates have not kept up with local credit unions and banks. Many other local area credit unions and banks are paying 3.00% to 3.30% on five year CD's, while Hatboro Federal Savings is paying a paltry 1.25%. Here is a short list of local banks and credit unions paying at least double the rate of Hatboro Federal Savings. Freedom Credit Union, Navy Federal Credit Union, Citadel Credit Union, TruMark Financial Credit Union and American Heritage Credit Union. .
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30155 |
| Year Established | 1941 |
| Employees | 37 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.42% |
| Return on Equity - YTD | 1.95% |
| Annual Interest Income | $7.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $585.1MM$582.8MM |
| Loans | Q2 2022vs Q2 2021 | $341.5MM$332.8MM |
| Deposits | Q2 2022vs Q2 2021 | $452.1MM$448.6MM |
| Equity Capital | Q2 2022vs Q2 2021 | $125.2MM$126.7MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $1.7MM$1.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $3.6MM$4.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$432.00K |