Neffs Bancorp Stock

Neffs Bancorp, Inc. operates as a bank holding company for The Neffs National Bank that provides a range of financial services to individuals, small businesses, and corporate customers in Lehigh County and Northampton County, Pennsylvania.

The primary source of revenue is interest and fees earned from providing residential mortgages, consumer loans and commercial loans to customers located within the Lehigh Valley of Pennsylvania. The company’s primary deposits are checking accounts, savings accounts and certificates of deposit.

Residential mortgage loans are originated primarily within the company’s market area. The company offers fixed-rate mortgage loans with terms up to a maximum of 30 years for both permanent structures and those under construction. Its residential mortgage originations are secured primarily by properties located in its primary market area and surrounding areas. The majority of the company’s residential mortgage loans originate with a loan-to-value of 80% or less.

The company originates home equity lines of credit primarily within its market area or with customers primarily from the market area. The company offers various secured and unsecured consumer loans, including vehicle and loans secured by savings deposits, as well as other types of consumer loans. Other real estate owned includes property acquired through a foreclosure proceeding or acceptance of a deed in lieu of foreclosure and loans classified as in-substance foreclosure.

Securities

As of December 31, 2020, the company offered mortgage-backed securities (government agencies- residential).

Deposits

As of December 31, 2020, the company’s deposits included savings accounts, NOW accounts, and certificates and other time deposits.

Regulation

As a national bank, the bank is subject to regulation by the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation. The company is also subject to regulations of the Federal Reserve Bank.

History

Neffs Bancorp, Inc. was founded in 1923.