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Article Excerpt M2 PRESSWIRE-30 November 2006-bellwetherreport.com: Daily Market Alert for Abington Community Bancorp Inc(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:30112006
Daily Market Alert for Abington Community Bancorp Inc (NASDAQ:ABBC)
Abington Community Bancorp is young (formed in 2004 to be the holding company for Abington Savings Bank), but the bank (established in 1867) is old. The bank, which does business as Abington Bank, has more than a dozen branches in southeastern Pennsylvania, north of Philadelphia. It offers standard retail services, such as checking and savings accounts, debit cards, and a variety of loans. Residential mortgages account for a majority of the company's loan portfolio (about 55%), which also includes construction loans, home equity lines of credit, and other real estate-secured loans, as well as business and personal loans. Abington Mutual Holding Company owns 55% of Abington Community Bancorp's stock.
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