Exhibit 99.1

FOR IMMEDIATE RELEASE		FOR FURTHER INFORMATION
October 19, 2011		Brendan J. McGill
		Executive Vice President COO/ CFO
		(215-256-8828)

Harleysville Savings Financial Corporation Announces Increased Earnings for the Fiscal
Year Ended September 30, 2011 and the Declaration of Regular Cash Dividend.

Harleysville, PA., October 19, 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 on the Company’s common stock. The cash dividend will be payable on November 23, 2011 to stockholders of record on November 9, 2011.

Net income for the twelve months ended September 30, 2011 amounted to $5,395,000 or $1.44 per diluted share compared to $5,008,000 or $1.36 per diluted share for the twelve months ended September 30, 2010.

Net income for the fourth quarter of fiscal year 2011 amounted to $1,097,000 or $.29 per diluted share compared to $1,320,000 or $.35 per diluted share for the fourth quarter of fiscal year 2010.

Ron Geib, President and Chief Executive Officer of the Company, stated, “Given the persistent soft economic conditions of the national and regional economies, we are pleased with the financial results of the past year and how the balance sheet has been strengthened to allow us to deliver consistent ongoing returns for our shareholders. The financial results include:

•

Record year of earnings

•

Continued payment of the cash dividend

•

Loan growth while maintaining the level of high credit quality loans

•

Higher level of loan loss reserve

•

Increase in transaction accounts

•

Improvement in the efficiency ratio

•

Increase in capital levels

•

Improvement in the interest rate spread

In addition, we have a dedicated team of employees who are committed to our culture and to taking care of our customers. We look forward to the year ahead and will continue to honor the safe and conservative principles that have served us well over the years.”

The Company’s assets totaled $835.7 million compared to $857.1 million a year ago. Stockholders’ book value increased to $15.19 per share from $14.47 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 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 September 30, 2011

		Year-To-Date
		Twelve Months Ended:								Three Months Ended:
(Dollars in thousands except per share data)		Sept 30,				Sept 30,				Sept 30,				June 30,				Mar 31,				Dec 31,				Sept 30,
(Unaudited)		2011				2010				2011				2011				2011				2010				2010
Selected Consolidated Earnings Data
Total interest income		$	37,573			$	40,018			$	9,358			$	9,494			$	9,291			$	9,430			$	9,867
Total interest expense			19,034				21,747				4,559				4,736				4,764				4,975				5,163
Net Interest Income			18,539				18,271				4,799				4,758				4,527				4,455				4,704
Provision for loan losses			1,150				600				660				165				175				150				150
Net Interest Income after Provision for Loan Losses			17,389				17,671				4,139				4,593				4,352				4,305				4,554
Bank owned life insurance			1,548				512				141				1,163				121				123				147
Other income			1,438				1,475				393				356				311				378				372
Total other expenses			13,125				12,702				3,239				3,385				3,340				3,161				3,197
Income before income taxes			7,250				6,956				1,434				2,727				1,444				1,645				1,876
Income tax expense			1,855				1,948				337				739				350				429				556
Net Income		$	5,395			$	5,008			$	1,097			$	1,988			$	1,094			$	1,216			$	1,320
Per Common Share Data
Basic earnings		$	1.45			$	1.37			$	0.29			$	0.53			$	0.29			$	0.33			$	0.36
Diluted earnings		$	1.44			$	1.36			$	0.29			$	0.53			$	0.29			$	0.33			$	0.35
Dividends		$	0.76			$	0.76			$	0.19			$	0.19			$	0.19			$	0.19			$	0.19
Tangible book value		$	15.19			$	14.47			$	15.19			$	15.09			$	14.74			$	14.63			$	14.47
Shares outstanding			3,758,751				3,687,409				3,758,751				3,747,920				3,731,574				3,704,940				3,687,409
Average shares outstanding — basic			3,726,599				3,658,300				3,752,394				3,737,439				3,723,236				3,693,373				3,678,492
Average shares outstanding — diluted			3,758,281				3,685,004				3,776,650				3,771,917				3,758,260				3,731,203				3,722,324

		Year-To-Date
(Dollars in thousands except per share data)		Twelve Months Ended:								Three Months Ended:
(Unaudited)		Sept 30,				Sept 30,				Sept 30,				Jun 31,				Mar 31,				Dec 31,				Sept 30,
Other Selected Consolidated Data		2011				2010				2011				2011				2011				2010				2010
Return on average assets			0.63	%			0.59	%			0.52	%			0.93	%			0.51	%			0.57	%			0.61	%
Return on average equity			9.79	%			9.73	%			7.74	%			14.26	%			8.03	%			9.08	%			10.01	%
Net interest rate spread			2.07	%			2.04	%			2.16	%			2.11	%			2.01	%			1.98	%			2.07	%
Net yield on interest earning assets			2.23	%			2.21	%			2.34	%			2.28	%			2.17	%			2.14	%			2.24	%
Operating expenses to average assets			1.54	%			1.50	%			1.53	%			1.58	%			1.56	%			1.48	%			1.48	%
Efficiency ratio			61.45	%			62.73	%			60.72	%			53.93	%			67.36	%			63.78	%			61.22	%
Ratio of non-performing loans to total assets at end of period			0.40	%			0.30	%			0.40	%			0.38	%			0.42	%			0.39	%			0.30	%
Loan loss reserve to total loans, net			0.63	%			0.48	%			0.63	%			0.51	%			0.55	%			0.51	%			0.48	%
Stockholders’ equity to assets			6.83	%			6.22	%			6.83	%			6.59	%			6.42	%			6.33	%			6.22	%

		Sept 30,				Jun 30,				Mar 31,				Dec 31,				Sept 30,
Selected Consolidated Financial Data		2011				2011				2011				2010				2010
Total assets		$	835,713			$	857,579			$	856,478			$	856,681			$	857,140
Consumer Loans receivable			424,424				421,203				418,329				421,375				431,966
Commercial Loans receivable			97,373				90,916				85,646				86,051				80,631
Loan loss reserve			(3,311	)			(2,652	)			(2,795	)			(2,639	)			(2,504	)
Total Loans receivable net			518,486				509,467				501,180				504,787				510,093
Cash & investment securities			122,306				150,978				161,878				176,274				166,063
Mortgage-backed securities			150,547				150,669				144,686				127,188				131,628
Total Investments			272,853				301,647				306,564				303,462				297,691
FHLB stock			13,110				13,800				14,526				15,291				16,096
Checking accounts			90,146				89,629				81,698				80,426				70,912
Savings accounts			138,805				137,474				138,228				134,671				139,818
Certificate of deposit accounts			295,450				303,999				311,346				316,550				317,370
Total Deposits			524,401				531,102				531,272				531,647				528,100
Advances			250,194				261,900				263,632				265,347				272,047
Total stockholders’ equity			57,082				56,551				55,009				54,205				53,351