Honat Bancorp : Quarterly Earnings June 2022

Officers of The Honesdale National Bank

William Schweighofer	Chairman of the Board
John P. Burlein	Vice Chairman
Thomas E. Sheridan, Jr.	President & Chief Executive Officer
Marcele R. Swingle	Executive Vice President
Katherine M. Bryant	Senior Vice President
Raymond J. Ceccotti	Senior Vice President
Ronald M. Sebastianelli	Senior Vice President
Christopher T. Bresset	Vice President
Vicky Bryant	Vice President
Christopher T. Cook	Vice President
Charles D. Curtin	Vice President
Janette Davis	Vice President
Lisa A. Dowse	Vice President
Kathleen Enslin	Vice President
Catherine Ferraro	Vice President
Sean A. Finan	Vice President
Gregory G. Gula	Vice President
Laurie Harrington	Vice President
Stephen A. Homza	Vice President
Jennifer Jaycox	Vice President
Cynthia M. Motichka	Vice President
Elizabeth C. Nagy	Vice President
Scott Prebich	Vice President
Ralph E. Scartelli	Vice President
Richard C. Simmers	Vice President
Brian P. Wilken	Vice President
Lacey P. Churmblo	Assistant Vice President
John Conte III	Assistant Vice President
Nicholas D'Alberto	Assistant Vice President
Karen A. Decker	Assistant Vice President
Robert B. Ferraro	Assistant Vice President
Judith Flaherty	Assistant Vice President
Elizabeth Hazen	Assistant Vice President
Jason Miller	Assistant Vice President
Linda A. Miller	Assistant Vice President
Donna Rinehimer	Assistant Vice President
Melissa Rushworth	Assistant Vice President
Janet Salkoskas	Assistant Vice President
Thomas P. Zurla	Assistant Vice President
Theodor Radu	Assistant Trust Officer
Alissa Weiss	Cash Management Officer
Sarah O'Hora	Commercial Loan Officer I
Michelle Kowalewski	Commercial Loan Officer II
Emily Barton	Deposit Operations Officer
Kevin Colgan	Fraud/Security Officer
Stephen Fritz	Loan Officer
Sandra Gillette	Loan Officer
Joseph Sweeney	Senior Credit Analyst

Directors of

Honat Bancorp, Inc.

Alfred D. Beck

John P. Burlein

Michael W. Cavage

Roger L. Dirlam

Robert C. Grimm

Charles H. Jurgensen

Paul M. Meagher

Kurt I. Propst

William Schweighofer

Thomas E. Sheridan, Jr.

Officers of

Honat Bancorp, Inc.

William Schweighofer

Chairman of the Board

John P. Burlein

Vice Chairman

Thomas E. Sheridan, Jr.

President &

Chief Executive Officer

Marcele R. Swingle

Secretary

Katherine M. Bryant

Treasurer

800-HNB-9515 • hnbbank.bank • [e-mail]

The Honesdale National Bank is a subsidiary of Honat Bancorp, Inc.

The Quarterly Shareholder and Annual Reports are

available online at hnbbank.bank/honat

Member FDIC

Honat Bancorp, Inc.

June 30, 2022

Honat Bancorp, Inc.

Consolidated Balance Sheets (Unaudited)

			June 30
		2022			2021
		(In Thousands, except Share and per Share Data)
Assets
Cash and Due from Banks	$	7,679			$	8,265
Interest-Bearing Deposits		63,180				112,510
Short-Term Investments		936				800
Cash and Cash Equivalents		71,795				121,575
Certificates of Deposit		250				1,989
Securities Available for Sale at Fair Value		243,618				148,523
Equity Securities at Fair Value		375				477
Mortgage Loans Held for Sale		400				763
Loans Receivable, Net of Allowance		582,587				556,207
for Loan Losses 2022: $11,068; 2021: $10,411
Investment in Restricted Stock, at Cost		670				445
Bank Premises and Equipment
Operating Lease Right-of-Use Asset		505				616
Other Premises and Equipment, Net		7,007				7,417
Accrued Interest Receivable		3,672				3,642
Investment in Life Insurance		25,645				25,702
Other Assets		12,969				10,473
Total Assets	$	949,493			$	877,829
Liabilities
Deposits
Non-Interest-Bearing	$	306,867			$..	273,676
Interest-Bearing		522,410				476,394
Total Deposits		829,277				750,070
Operating Lease Liabilities		516				626
Accrued Interest Payable		214				313
Other Liabilities		9,462				10,044
Total Liabilities		839,469				761,053
Stockholders' Equity
Common Stock, par Value $.20 per Share;		360				360
Authorized 5,000,000 Shares;
Issued 1,800,000 Shares;
Outstanding 2022 and 2021: 1,448,382 and 1,449,173
Surplus		1,753				1,015
Retained Earnings		133,496				126,957
Accumulated Other Comprehensive Income		(11,262)				1,893.
Treasury Stock, at Cost, 2022 and 2021:		(14,323)				(13,449).)
351,618 and 350,827
Total Stockholders' Equity		110,024				116,776
Total Liabilities and Stockholders' Equity		$	949,493			$	877,829

Honat Bancorp, Inc.

Consolidated Statements of Income (Unaudited)

			Period Ended June 30
		2022			2021
			(In Thousands)
Interest Income
Loans Receivable, Including Fees	$	13,167			$	13,513
Securities
Taxable		1,026				377
Tax Exempt		706				626
Other		281				70
Total Interest Income		15,180				14,586
Interest Expense
Deposits		555				679
Total Interest Expense		555				679
Net Interest Income		14,625				13,907
Provision for Loan Losses		200				375
Net Interest Income After
Provision for Loan Losses		14,425				13,532
Other Income
Customer Service Fees		1,234				1,099
Mortgage Banking Activities		413				1,709
Income from Fiduciary Accounts		344				390
(Loss) Gain on Equity Securities		(100)				145
Bank-Owned Life Insurance		255				654
Other		459				281
Total Other Income		2,605				4,278
Other Expenses
Salaries and Wages		4,407				4,211
Employee Benefits		1,994				2,130
Occupancy		636				647
Data Processing		537				519
Furniture and Equipment		317				301
Advertising and Promotion		301				237
Legal and Professional		241				231
Donations		130				199
State Tax		446				404
FDIC Insurance Program		129				104
Other		1,407				1,167
Total Other Expenses		10,545				10,150
Income Before Income Tax		6,485				7,660
Federal Income Tax Expense		1,086				1,256
Net Income		$	5,399			$	6,404