Annual Meeting: Hyperion Bank Reports Growth, 27% Balance Sheet Expansion
The PennZone/10271093

Trending...
PHILADELPHIA, May 21, 2024 ~ At the annual meeting on May 16, shareholders of Hyperion Bancshares, Inc., the holding company for Hyperion Bank, were updated on the bank's growth and progress by CEO and Chairman Charlie Crawford. As a longtime community banker, Crawford shared that 2023 was a year of significant growth for the company, with a 27% increase in their balance sheet driven by strong demand for loans and deposits.

During the meeting, Crawford also discussed the first quarter of 2024, which showed a significant increase in profitability compared to the previous year. He reported that loan growth had increased by 15% and deposits were up by 13%, resulting in total assets of $427,506,788.

Crawford also highlighted the income statement for Q1 of 2024, which showed even faster growth with revenues increasing by 38% and net income up by 69%. He noted that their book value per share had increased by $1.10 since last year due to their strong credit quality and moderate loan growth.

In addition to discussing financials, Hyperion President & COO Lou DeCesare announced that the bank had expanded its talent base in the past year with senior-level additions such as Bill Young as Vice President & Director of Technology Services, Toni Hughes as EVP & Compliance Department Manager (CRCM), and Susan Battle as Senior Vice President & Director of SBA Lending. Young brings over 25 years of IT experience to his role while Hughes has over 30 years of banking experience in various positions including credit, collections, lending, operations, and regulatory compliance. Battle has four decades' worth of experience in U.S. Small Business Administration lending.

More on The PennZone
Looking ahead to the rest of the year, Crawford stated that there will be an emphasis on increasing profitability while maintaining moderate growth and a strong focus on credit quality.

The meeting also included the re-election of eight board members: Charlie Crawford, Lou DeCesare, Jill K. Jinks, James J. McAlpin Jr., Robert N.C. Nix III, Michael J. Purcell, Lara Rhame, and Gretchen M. Santamour. These members will continue to serve on the board for another year.

Hyperion Bank, which was founded in 2006, has expanded its reach to the Atlanta market in 2019 and launched a joint venture called Hyperion Mortgage in 2020. This venture now operates in Alabama, Florida, Georgia, New Jersey, Pennsylvania, South Carolina, and Tennessee.

As a full-service community bank with a focus on technology and accessible and experienced bankers with local decision-making authority, Hyperion offers a range of SBA and non-SBA lending products. They are also proud to be a member of the FDIC and an Equal Housing Lender. All offers of credit are subject to approval.

For media inquiries or more information about Hyperion Bank and its subsidiaries (Hyperion Mortgage and Hyperion Bancshares), please contact Drew Plant at 678-637-5532.
Show All News | Disclaimer | Report Violation

0 Comments

Latest on The PennZone