Hyperion Bank reports moderate growth and increased profitability, along with staff additions and recognition for its leaders, growth & strength
PHILADELPHIA, Oct. 25, 2023 /PRNewswire/ -- In its Third Quarter 2023 Report to Shareholders, Hyperion Bancshares, Hyperion Bank's holding company, noted moderate growth for the Philadelphia-based community bank. It also recognizes that the nearly 17-year-old bank is outperforming its peers with a net interest margin that averaged 4.28% over the past year.
"We continue to be conservative in our loan underwriting and our asset quality remains strong," says the bank's CEO & Chairman Charlie Crawford. "Hyperion's total revenue over the last 12 months is up 73% with slightly lower profits. The annual balance sheet growth has been very strong with loans up 32% and deposits up 29%."
Crawford, a longtime community banker, notes that he continues to see strong demand from new and existing customers for Hyperion's banking and mortgage services in its Philadelphia and Atlanta markets. Along with new customers, he notes the bank added "five more great people to our team."
"The third quarter resulted in moderate growth and increased profitability," says Louis J. DeCesare, Jr., Hyperion's President & COO, "with particular customer interest in both our strong Small Business Administration lending and the access we provide to multi-million-dollar FDIC coverage beyond the standard protection via ICS and CDARS programs."
DeCesare says Hyperion is #71 on the Philadelphia Business Journal's 2023 Soaring 76 list. It is the bank's fourth consecutive year on the list, which recognizes fastest-growing private & public companies in Greater Philadelphia. Last year Hyperion was #63 on the list, with 18+ % growth. In 2021 the bank was #19 with 47.5 % growth. And in 2020 the bank was #34 on the list, with 39 % growth.
In addition, Hyperion earned a 5-Star Superior rating ? the highest rating ? from Bauer Financial, the independent bank rating firm. DeCesare says the 5-Star Superior rating reflects Hyperion's stellar financial strength and stability. "Earning this coveted highest rating indicates that Hyperion is among the strongest banks in the country, excelling in capital adequacy, delinquent loan levels, profitability & other key measures," he says.
"We are honored to again receive both the 'Soaring' recognition and the 5-Star Superior Bauer rating," Crawford says. "Recognition of our success and strength is a tribute to our employees, customers, business partners and investors who have helped us achieve and continue our smart growth."
Crawford also shares that Hyperion's Lou DeCesare ? and 99 other executives & entrepreneurs ? were recognized with 2023 Philadelphia Titan 100 Awards. The Titan 100 recognizes the region's Top 100 C-level executives. "I am honored to be included in this impressive group, with friends and colleagues across so many industries and parts of this great state, including Kevin Shivers, who leads the Pennsylvania Association of Community Bankers (PACB), of which we are a part," DeCesare says.
At its recent 2023 Convention, PACB recognized Hyperion's Crawford as incoming Chair-Elect. He was previously PACB Vice Chair, served on its Diversity Task Force & was PACB's 2022 Banker of the Year. (Charlie also serves on the board of the Community Bankers Association of Georgia.)
Hyperion Bank expanded to Atlanta in 2019 and in 2020 launched joint venture Hyperion Mortgage, which now does business in Alabama, Florida, Georgia, New Jersey, North Carolina, Pennsylvania, South Carolina and Tennessee. Founded in 2006, Hyperion is a full-service community bank, connecting with customers via technology and highly accessible, experienced, enthusiastic bankers who have local decision-making authority. Member FDIC. Equal Housing Lender. Offer of credit is subject to approval.
Inquiries:
Drew Plant
[email protected]
678-637-5532
SOURCE Hyperion Bancshares
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