Hatboro Federal Savings, FA is headquartered in HATBORO and is the 73rd largest bank in the state of Pennsylvania. It is also the 1,641st largest bank in the nation. It was established in 1941 and as of March of 2023, it had grown to 37 employees at 4 locations. Hatboro Federal Savings, FA has a B+ 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.
Deposit Growth Has Declinded By 47 Million
Here is why.... As of 9-26-2023 a 3, 4, and 5 Year CD is paying 1.25%, while other local banks are paying 4.50% and up. Deposit Accounts gives Hatboro a "F" for deposit growth.
Here is the review from Deposit Accounts.
"In the past year, Hatboro Federal Savings, FA has decreased its total non-brokered deposits by -$47.1 million, resulting in -10.33% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Hatboro Federal Savings, FA has shown is poor. "
Data as of Q1 2023
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 | 1.26% |
| Return on Equity - YTD | 5.42% |
| Annual Interest Income | $5.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $546.0MM$589.2MM |
| Loans | Q1 2023vs Q1 2022 | $364.0MM$327.1MM |
| Deposits | Q1 2023vs Q1 2022 | $408.7MM$455.8MM |
| Equity Capital | Q1 2023vs Q1 2022 | $128.8MM$125.8MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $1.8MM$1.6MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $3.5MM$3.8MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |