Abington Bancorp, Inc. (the “Company”) is a Pennsylvania corporation which was
recently organized to be the stock holding company for Abington Savings Bank in
connection with our second-step conversion and reorganization completed on June
27, 2007, discussed further below. Abington Savings Bank is a
Pennsylvania-chartered, FDIC-insured savings bank, which conducts business under
the name “Abington Bank” (the “Bank” or “Abington Bank”). As a result of the
Bank’s election pursuant to Section 10(l) of the Home Owners’ Loan Act, the
Company is a savings and loan holding company regulated by the Office of Thrift
Supervision (the “OTS”). The Bank is a wholly owned subsidiary of the Company.
The Company’s results of operations are primarily dependent on the results of
the Bank and the Bank’s wholly owned subsidiary, ASB Investment Co. As of
December 31, 2007, the Company, on a consolidated basis, had total assets of
$1.1 billion, total deposits of $609.  ...