Account imbalances delay Willow Financial’s quarterly report
Willow Financial Bancorp's bookkeeping problems - discovered through an audit of internal controls for the fiscal year ended June 30 - continued in the Wayne bank's first quarter.
Willow Financial Bancorp's bookkeeping problems - discovered through an audit of internal controls for the fiscal year ended June 30 - continued in the Wayne bank's first quarter.
Willow Financial said today that it delayed its quarterly report because of difficulties balancing certain accounts, with the differences amounting to $6 million.
The company's shares traded at $10.16, down 5 cents, on Nasdaq at 10:37 this morning.
Willow has 29 branches in Montgomery, Chester, Bucks and Philadelphia Counties with $1.08 billion in deposits.