Reading Eagle, Pa., Business Log column: Shareholders OK Harleysville National deal

Thu. September 11, 2008; Posted: 09:38 AM

Sep 11, 2008 (Reading Eagle - McClatchy-Tribune News Service via COMTEX) -- WFBC | Quote | Chart | News | PowerRating -- Sep. 11--Shareholders of Harleysville National Corp. and Willow Financial Bancorp Inc. Wednesday approved the merger of Willow Financial into Harleysville National.

Willow Financial Bancorp's subsidiary, Willow Financial Bank, Wayne, Delaware County, a $1.6 billion savings bank with 29 banking offices in Southeastern Pennsylvania, will merge into Harleysville National Bank and Trust Co., Harleysville National's banking subsidiary.

Closing is expected to take place during the fourth quarter.

The combination will create the third-largest bank holding company with headquarters in the Philadelphia region, with $5.5 billion in assets and 84 branches in high-growth markets. The transaction is expected to be accretive to Harleysville National earnings in 2009.

Colonial Electric Supply, King of Prussia, has added a location in Myerstown.

Colonial Electric Supply, one of the largest electrical distributors in the Mid-Atlantic region, opened the Lebanon County site as its 15th location.

Robert Gambrell, branch manager of Colonial's Reading store, will be branch manager.

To see more of the Reading Eagle, or to subscribe, go to http://www.readingeagle.com. Copyright (c) 2008, Reading Eagle, Pa. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Harleysville National Cp (HNBC) click here. Harleysville National Cp (HNBC) has Short Term PowerRatings of 5. Details on Harleysville National Cp (HNBC) Short Term PowerRatings is available at This Link.

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