Harleysville National Corp. of Pennsylvania said in a filing with the Securities and Exchange Commission that a recent internal audit uncovered a misappropriation of $578,000 resulting from "unauthorized activities" by an employee of the bank.
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The holding company for Harleysville National Bank and Trust Co. said that the unidentified employee, who was not an officer, was fired immediately. The company said it will work to complete the investigation as soon as possible and that it notified the appropriate regulatory and governmental authorities.
Harleysville said it has insurance coverage for this type of event and its total estimated loss shouldn't exceed $100,000 on a pretax basis.
