FOR IMMEDIATE RELEASE		FOR FURTHER INFORMATION
July 20, 2011		Brendan J. McGill
		Executive Vice President COO/CFO
		215-256-8828

Harleysville Savings Financial Corporation Announces Regular Cash Dividend and Third Quarter Earnings for Fiscal Year 2011

Harleysville, PA., July 20, 2011 — Harleysville Savings Financial Corporation (NASDAQ:HARL) reported today that the Company’s board of directors declared a regular quarterly cash dividend of $.19 per share. The cash dividend will be payable on August 24, 2011 to stockholders of record on August 10, 2011.

Net income for the third quarter was $1,988,000 or $.53 per diluted share compared to $1,314,000 or $.36 per diluted share for the same quarter last year. There was a onetime Bank Owned Life Insurance (“BOLI”) net benefit of $927,000 or $.24 per diluted share in the current quarter.

Net income for the nine months ended June 30, 2011 amounted to $4,298,000 or $1.16 per diluted share compared to $3,688,000 or $1.01 per diluted share for the same nine-month period a year ago.

Ron Geib, President and Chief Executive Officer of the Company, stated, “While our results for the quarter benefited from the BOLI income, we are pleased with the improvement in the financial strength of the bank. Our credit quality has remained strong, we continue to increase the number of relationships with customers wanting to establish their checking and savings accounts with a locally owned and managed community bank, and we are beginning to see the improvement in our interest rate spread. We anticipate our interest rate spread to continue improving as high cost liabilities reprice over the coming quarters and we continue to grow our small business lending relationships.

We continue to experience positive results through the preservation of our fundamental operating principles of maintaining prudent underwriting standards, investing in high credit quality assets, controlling our operating expenses, and practicing sound capital management.”

The Company’s assets totaled $857.6 million compared to $867.1 million a year ago. Stockholders’ tangible book value increased 5.53% to $15.09 per share from $14.30 a year ago.

Harleysville Savings Financial Corporation is the holding company for Harleysville Savings Bank. Established in 1915, Harleysville Savings Bank is a Pennsylvania chartered and federally insured savings bank. Headquartered in Harleysville, PA, Harleysville is located in central Montgomery County, which has the third largest population base and the second highest per capita income in the state of Pennsylvania.

This presentation may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products and services.

Harleysville Savings Financial Corporation
Selected Consolidated Financial Data as of June 30, 2011

		Year-To-Date
		Nine Months Ended:								Three Months Ended:
(Dollars in thousands except per share data)		June 30,				June 30,				June 30,				Mar 31,				Dec 31,				Sept 30,				June 30,
(Unaudited)		2011				2010				2011				2011				2010				2010				2010
Selected Consolidated Earnings Data
Total interest income		$	28,215			$	30,151			$	9,494			$	9,291			$	9,430			$	9,867			$	9,951
Total interest expense			14,475				16,584				4,736				4,764				4,975				5,163				5,290
Net Interest Income			13,740				13,567				4,758				4,527				4,455				4,704				4,661
Provision for loan losses			490				450				165				175				150				150				150
Net Interest Income after Provision for Loan Losses			13,250				13,117				4,593				4,352				4,305				4,554				4,511
Bank owned life insurance			1,407				365				1,163				121				123				147				122
Other income			1,045				1,103				356				311				378				372				386
Total other expenses			9,886				9,505				3,385				3,340				3,161				3,197				3,205
Income before income taxes			5,816				5,080				2,727				1,444				1,645				1,876				1,814
Income tax expense			1,518				1,392				739				350				429				556				500
Net Income		$	4,298			$	3,688			$	1,988			$	1,094			$	1,216			$	1,320			$	1,314
Per Common Share Data
Basic earnings		$	1.16			$	1.01			$	0.53			$	0.29			$	0.33			$	0.36			$	0.36
Diluted earnings		$	1.15			$	1.01			$	0.53			$	0.29			$	0.33			$	0.35			$	0.36
Dividends		$	0.57			$	0.57			$	0.19			$	0.19			$	0.19			$	0.19			$	0.19
Tangible book value		$	15.09			$	14.30			$	15.09			$	14.74			$	14.63			$	14.47			$	14.30
Shares outstanding			3,747,920				3,670,083				3,747,920				3,731,574				3,704,940				3,687,409				3,670,083
Average shares outstanding — basic			3,717,906				3,651,495				3,737,439				3,723,236				3,693,373				3,678,492				3,667,319
Average shares outstanding — diluted			3,752,059				3,671,977				3,771,917				3,758,260				3,731,203				3,722,324				3,700,510