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(OTC summarizes baseball tickets BulletinBoard: SFBI) tiger sweatshirt observes today announced that it plans to voluntarily terminate theregistration of its common stock under Section 12(g) of the SecuritiesExchange Act of 1934, as amended, pursuant to resolutions adopted by its Boardof Directors on July 20, 2009.SFSB, Inc. BEL AIR, Md., July 24 /PRNewswire-FirstCall/ -- SFSB, Inc. WhiteChairman, President and CEOorJack Sandoski,Senior Vice President and CFO(215) 886-8280Copyright 2009, Market Wire, All rights reserved.-0-. Investors are encouraged to accessthe Company's periodic reports filed with the Securities and ExchangeCommission for financial and business information regarding the Companyat under the Investor Relations menu. Other factors described include changes in our loanportfolio, changes in competition, fiscal and monetary policies andlegislation and regulatory changes. The Company'sreports filed from time-to-time with the Securities and ExchangeCommission describe some of these factors, including general economicconditions, changes in interest rates, deposit flows, the cost of funds,changes in credit quality and interest rate risks associated with theCompany's business and operations and the adequacy of our allowance forloan losses. Anumber of factors -- many of which are beyond the Company's control --could cause actual conditions, events or results to differ significantlyfrom those described in the forward-looking statements.
They often include words such as "believe," "expect,""anticipate," "estimate" and "intend" or future or conditional verbs suchas "will," "would," "should," "could" or "may." Forward-lookingstatements, by their nature, are subject to risks and uncertainties detroit tigers . Forward-looking statements canbe identified by the fact that they do not relate strictly to historicalor current facts yawkey way store . Abington Bank conducts business from itsheadquarters and main office in Jenkintown, Pennsylvania as well as twelveadditional full service branch offices and seven limited service bankingoffices located in Montgomery, Bucks and Delaware Counties, Pennsylvania.As of June 30, 2009, Abington Bancorp had $1.18 billion in total assets,$757.1 million in total deposits and $227.9 million in stockholders'equity.This news release contains certain forward-looking statements, includingstatements about the financial condition, results of operations andearnings outlook for Abington Bancorp, Inc tiger sweatshirt . AbingtonBank is a Pennsylvania-chartered, FDIC-insured savings bank which wasoriginally organized in 1867 yawkey way store .
The decreases to our stockholders'equity were partially offset by the release of approximately 184,000shares in the aggregate from our stock benefit plans for approximately$1.5 million detroittigers . Our accumulated other comprehensive income increased$410,000 during the first half of 2009, due primarily to an increase inthe net unrealized gain on our available for sale investment andmortgage-backed securities.Abington Bancorp, Inc is the holding company for Abington Bank tiger sweatshirt . As a result of our lossfor the second quarter, however, our retained earnings decreased $258,000during the first half of the year yawkey way store . Our flexibility to undertake such a strategy isthe result of our strong overall capital position tiger sweatshirt .
Even after the impactof our quarterly loss, the Bank's regulatory capital levels far exceedrequirements for well capitalized institutions detroittigers net . Our decision torepurchase our common stock was based on a determination by managementand the Board of Directors that the current trading price of our stock,which remains below book value, provided an opportunity to utilize ourcurrent capital to repurchase shares in a manner intended to positivelyaffect shareholder value yawkey way store . The decrease was dueprimarily to the purchase of approximately 1.6 million shares of theCompany's common stock during the first six months of 2009 for anaggregate of approximately $12.1 million as part of our stock repurchaseplans and our 2007 Recognition and Retention Plan tiger sweatshirt . Reducing the balance ofour outstanding advances has increased our capacity to take additionaladvances from the FHLB without the requirement to purchase additionalshares of FHLB stock.Our total stockholders' equity decreased to $227.9 million at June 30,2009 from $238.1 million at December 31, 2008 yawkey way store . Thisdecision was based on recent actions by the FHLB to suspend the dividendon, and restrict the repurchase of, FHLB stock.
The amount of FHLB stockthat a member institution is required to hold is directly proportional tothe volume of advances taken by that institution ivan rodriguez . Our certificateaccounts also increased, growing $35.1 million or 8.5% tiger sweatshirt . Our otherborrowed money, which is comprised of securities repurchase agreementsentered into with certain commercial checking account customers,increased $11.0 million or 62.6% to $28.6 million at June 30, 2009.Advances from the FHLB decreased $102.8 million or 40.0% to $154.3million at June 30, 2009 compared to $257.1 million at December 31, 2008.The repayment of a portion of our advances was based on our overallevaluation of our collateral position with the FHLB and our decision tominimize the amount of FHLB stock that we are required to hold yawkey way store . During the first six months of 2009,our savings and money market accounts grew $46.3 million, or 31.3%, andour checking accounts grew $10.7 million, or 10.1%, resulting in anincrease to core deposits of $57.0 million, or 22.5% . Theincrease during the first half of 2009 was due to growth in both coredeposits and certificate accounts. Our balance of REOincreased $16.3 million during the first half of 2009 to $18.1 million atJune 30, 2009 due primarily to the addition of the above mentionedproperty for $5.0 million during the second quarter and the addition of a40-unit high rise residential condominium project in Center City,Philadelphia during the first quarter of 2009 for $11.5 million.Our total deposits increased $92.1 million or 13.9% to $757.1 million atJune 30, 2009 compared to $665.0 million at December 31, 2008. The decrease in the balance ofconstruction loans was primarily related to the previously describedtransfer of one loan to REO, which had a carrying value of $5.0 million atthe time of transfer (net of a $500,000 charge-off).
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