Profile: Alliance Bancorp Inc of Pennsylvania (ALLB.O)
6 Dec 2013
Alliance Bancorp, Inc. of Pennsylvania., incorporated on August 20, 2010, is a federally chartered company. Alliance Bank (the Bank) is a community oriented savings bank. The Bank operated a total of nine banking offices located in Delaware and Chester Counties, which are suburbs of Philadelphia, as of September 30, 2010. The Bank is primarily engaged in attracting deposits from the general public. The Bank derives its income principally from interest earned on loans, mortgage-backed securities and investments. Alliance Delaware Corporation is a wholly owned subsidiary of the Bank.
The Bank’s loan portfolio includes real estate loans, land and construction, commercial business, consumer and other loans. The real estate loans include single-family, multi-family and commercial. As of September 30, 2010, the loan portfolio of the Bank totaled $288.6 million. The Bank originates loans to customers located primarily in Southeastern Pennsylvania.
The Bank’s investment securities were classified into securities available for sale and securities held to maturity. The Securities available for sale includes the United States Government obligations, Mortgage-backed securities. The securities held to maturity include municipal obligations. As of September 30, 2010, the securities available for sale totaled $ 19.8 million. The securities held to maturity totaled $2.1 million as of September 30, 2010. As of September 30, 2010, the Bank had $5.7 million in mortgage-backed securities pledged as collateral for the treasury, tax and loan account and certain deposits. As of September 30, 2010, the Bank had $2.8 million in mortgage-backed securities pledged as collateral against its Federal Home Loan Bank (FHLB) open credit line.
Sources of Funds
The Bank’s deposits include non-interest bearing deposits and interest bearing deposits. As of September 30, 2010, the deposits totaled $ 373.8 million.
Alliance Bancorp Inc of Pennsylvania
541 Lawrence Road
BROOMALL PA 19008