Hyperion Bank continues growth in loans and deposits, with 65% higher revenue to the yea

In its Fourth Quarter 2023 Report to Shareholders, Hyperion Bancshares, Inc., Hyperion Bank’s holding company, noted continuing growth for the Philadelphia-based community bank, which also has a banking office and mortgage joint venture in Atlanta.

“2023 was another strong year of growth with loans and deposits increasing by 29%,” says the bank’s CEO and Chairman Charlie Crawford, a longtime community banker, “and the fourth quarter of the year was our most profitable of 2023.”

This past year saw Hyperion Bank recognized in the Philadelphia Business Journal’s “Soaring 76” list of fastest growing companies for the fourth year in a row. Hyperion came in at #71 on the list of private and public companies in 2023. The previous year it came in #63 on the list of private and public companies. In 2021 the bank was #19 on the list. And in 2020 the bank was #34 on the list.

Crawford notes that revenue was 65% higher for the year with lower profits as the cost of deposits was significantly higher, the bank increased its provision for loan losses, and it no longer had tax credits. He says the bank is focused on increasing non-interest income which was up 30% over the last 12 months. Credit quality remains very healthy, and the bank put almost twice as much money in its loan loss provision as a result of strong loan growth.

In the shareholder letter, Crawford – along with Hyperion President & COO Lou DeCesare, also a community banking veteran – reflects that most banking headlines early in this New Year herald good news, while recognizing that other headlines are more sobering, focusing, for example, on the disproportionate number of small banks that have over-invested in bonds, putting themselves – and their stakeholders – at risk.

“We wanted to again be proactive in underscoring the fact that Hyperion continues to be well diversified,” DeCesare says. “’Balance’ is our standard stance; it has served us – and you – well, and we shall continue to focus on safety, soundness, stability and diversification.” They also emphasized transparency and an ongoing open-door policy. 

As examples of confidence in the 17-year-old community bank, DeCesare notes an enthusiastic response to the limited-time CD promotion the bank ran in December and extended into January, as well as strong participation in Hyperion’s ICS^® & CDARS^® programs, which could provide access to potentially increase the FDIC deposit insurance coverage. He also says the bank’s reinvigorated SBA program continues to be popular with entrepreneurs and franchise owners who want to take advantage of low rates.

Also in 2023, DeCesare was named among the Philadelphia Titan 100, which recognizes the state’s Top 100 CEOs & C-level executives. And in January 2024, Hyperion’s Crawford was named to the Titan 100 Hall of Fame and named one of the 2024 Georgia Titan 100. This is his third consecutive year among the Georgia Titan 100, which qualified him for the Hall of Fame.

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 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, North Carolina, Pennsylvania, South Carolina and Tennessee. Member FDIC. Equal Housing Lender. Offer of credit is subject to approval.