DOYLESTOWN, Pa., Feb. 23, 2021 (GLOBE NEWSWIRE) -- HV Bancorp, Inc. (Nasdaq Capital Market: HVBC), the holding company of Huntingdon Valley Bank announced today that the Board of Directors approved a plan to repurchase, in open market and privately negotiated transactions, up to 100,000 shares of the Company’s outstanding common stock, which may be adjusted for future stock dividends, stock splits or other similar transactions. This repurchase plan will supplement the previously announced repurchase plan which is nearly complete. The Company believes the repurchase of its stock may increase the return on equity and the net income per share of the remaining outstanding shares of common stock and enhance long-term shareholder value. The purchases are funded with liquidity based on capital levels in excess of regulatory requirements. These stock repurchases are not expected to have a material impact on capital levels due to the consistent nature of the buyback plans. The specific prices, numbers of shares and timing of purchase transactions will be determined by the Company from time to time in its sole discretion.

About HV Bancorp, Inc.

HV Bancorp, Inc. (Nasdaq Capital Market: HVBC) is a bank holding company headquartered in Doylestown, PA. Through its wholly-owned subsidiary Huntingdon Valley Bank, we primarily serve communities located in Montgomery, Bucks and Philadelphia Counties in Pennsylvania and New Castle County in Delaware, and Burlington County in New Jersey from our executive office, six full service bank offices and one limited service office. We also operate four loan production offices in our geographical footprint.