Q4 Report: 2021 Was 'A Very Good Year' for Hyperion Bancshares

PHILADELPHIA, Feb. 2, 2022 /PRNewswire/ -- In its Fourth Quarter 2021 Report to Shareholders, Hyperion Bancshares, Inc., Hyperion Bank's holding company, noted continuing growth for the Philadelphia-based community bank.

"With the help of eight new employees, 2021 was a very good year for Hyperion Bancshares," says the bank's CEO and Chairman Charlie Crawford, a longtime Atlanta community banker. "With the creation of our holding company and the well-received subordinated debt offering, we began to put additional capital to work, and we have the ability to continue to grow the bank."

Crawford reported that Hyperion's asset base grew by 15%, with its loan portfolio increasing by 12% and its deposit base expanding by 16%. The double-digit balance sheet growth resulted in a 12% increase in interest income; non-interest income grew by 34%.

"The best number of all is our net income of $2,034,162 compared to $666,482 a year ago," Crawford says. "The significant improvement in profitability was driven by much lower deposit interest expense, lower loan loss provision, and lower income taxes as we were able to reduce a portion of the valuation allowance against our deferred tax assets."

In addition to celebrating its 15^th anniversary in November, 2021 also saw Hyperion Bank recognized in the Philadelphia Business Journal's "Soaring 76" as the 19th fastest growing company in the Philadelphia region; the previous year Hyperion was No. 34 on the "Soaring" list, "meaning we were the fastest growing bank in Pennsylvania in 2020."

Also in Q4, Hyperion's Atlanta banking office moved to larger, more customer-friendly space, still within the Piedmont Center development in the Buckhead neighborhood, Atlanta's financial center. The 15-year-old community bank expanded to the Atlanta market in 2019.

Hyperion Bank is a full-service community bank that connects 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 and is one of few area banks doing residential construction lending to homeowners. And it launched a joint venture, Hyperion Mortgage, with a national home lender in 2020. Member FDIC. Equal Housing Lender. Offer of credit is subject to approval. #comunitybank #communitybanking #communitybanker #HyperionBank #HyperionMortgage #HyperionBancshares

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SOURCE Hyperion Bank/Hyperion Bancshares