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FOR IMMEDIATE RELEASE
Contact: Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851, cell: 412-335-9488;

Dan Cirelli, chief executive officer; Dave Eglin, vice president
Huntingdon Valley Bank
215-947-1300, ext. 203;

Huntingdon Valley Bank Honored with 'Pillars' Award:
Cited for Outstanding Work in Affordable Housing, Revitalization

PAOLI, PA, June 7, 2007 - Huntingdon Valley Bank today was honored as one of only four financial institutions across Delaware, Pennsylvania and West Virginia to receive the coveted Pillars of the Community Award in recognition of the bank’s outstanding work in the areas of affordable housing and community commitment.

Huntingdon Valley Bank received the award largely as a result of its superior work during 2006 in distributing grants to low-income first-time homebuyers to help them meet down payment and closing costs. To date, the bank has extended nearly $400,000 to 85 lower-income first-time homebuyers to defray such costs through the First Front Door grants program, paving the way for these individuals and their families to step up to home buying, creating pride of ownership, additional family stability, and the greater personal savings that comes with home equity.

The Pillars award was bestowed on Huntingdon Valley Bank by the Federal Home Loan Bank of Pittsburgh (FHLBank), a government sponsored enterprise that helps community financial institutions provide low-cost funding and grants to neighborhood residents and businesses. The award was presented to Huntingdon Valley Bank Chief Executive Officer Dan Cirelli before a group of bank executives from across the region.

In addition to its work extending grants to first-time homebuyers, the bank was cited for its charter membership in Willow Grove Community Development Corporation, a nonprofit organization dedicated to providing affordable housing to families in Montgomery County, PA. More than 50 units of affordable housing have been rented by families in need as a result of the initiative. The bank also has been a sponsor of several local youth camps and a concert in the park series.

“Huntingdon Valley Bank has been helping its neighbors in Montgomery and Bucks counties build a better future for more than 130 years,” said John Bendel, director of Community Investment at FHLBank, who presented the award. “Our Pillars of the Community Award is a great way to thank Dan and his team for the great work they do.”

In recognition of Huntingdon Valley Bank’s achievement, FHLBank is making a $1,000 contribution to Willow Grove Community Development Corporation.

Huntingdon Valley Bank operates five offices at Huntingdon Valley, Warrington Plaza, Upper Moreland/Justa Farm Plaza, Jamison/Warwick and Plumsteadville. It also has a full-service, stand-alone ATM at the Doylestown Wellness Center.