Annual Meeting: Hyperion Bank Reports Growth, 27% Balance Sheet Expansion

Hyperion Bancshares reelects eight board members, hears report on significant growth + strong loan and deposit demand

PHILADELPHIA, May 21, 2024 /PRNewswire/ -- At its annual meeting May 16, shareholders of Hyperion Bancshares, Inc., Hyperion Bank's holding company, heard from CEO and Chairman Charlie Crawford, who notes the bank continues its growth, with significant progress markers and a healthy outlook.

"2023 was a year of significant growth for the company with the balance sheet expanding by 27%, driven by strong loan and deposit demand," says Crawford, a longtime community banker.

The shareholder's meeting also covered the first quarter of 2024, which saw a significant increase in profitability from a year ago. "Our balance sheet continues to expand with loan growth of 15% over the last year, with deposits up 13% for this period," Crawford says. Total assets of the company are now $427,506,788.

Also of Q1 2024, Crawford notes that the income statement grew even faster with revenues increasing 38% and net income up 69%. "Our book value per share has increased by $1.10 since this time last year," he says. "Our increased profitably was impacted by our strong credit quality and moderate loan growth resulting in significantly less need for additional loan loss provision."

At the meeting, Hyperion President & COO Lou DeCesare noted that Hyperion grew its talent base in the last year with senior-level additions including Bill Young, Vice President & Director of Technology Services; Toni Hughes, CRCM, EVP & Compliance Department Manager; and Susan Battle, Senior Vice President & Director of SBA Lending. Young is an IT leader with 25+ years of experience. Hughes has over 30 years of banking experience, having held positions at national, regional and community banks in Credit, Collections, Lending, Operations and most recently regulatory compliance. Battle has four decades' experience in U.S. Small Business Administration lending.

The balance of the year, Crawford says, "will have an emphasis on increased profitability with moderate growth and a never-ending focus on credit quality."

The meeting also saw the re-election of eight board members; reelected to serve another year are Crawford; DeCesare; Jill K. Jinks, Chairman of Insurance House Holdings, Inc.; James J. McAlpin, Jr., Partner, Bryan Cave Leighton Paisner, LLP; Robert N.C. Nix, III, Founder and President, Pleasant News, Inc.; Michael J. Purcell, retired Audit Partner, Deloitte & Touché; Lara Rhame, Chief U.S. Economist, FS Investments; and Gretchen M. Santamour, a Partner in Philadelphia law firm Stradley Ronon.

The 17-year-old bank expanded to the Atlanta market in 2019 and in 2020 launched joint venture Hyperion Mortgage, which now does business in Alabama, Florida, Georgia, New Jersey, 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. The bank offers a full range of SBA and non-SBA lending products. Member FDIC. Equal Housing Lender. Offer of credit is subject to approval.

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SOURCE Hyperion Bank