HV Bancorp, Inc.

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Ademi LLP is investigating HV Bancorp (NASDAQ: HVBC) for possible breaches of fiduciary duty and other violations of law in its transaction with CZFS.

Ademi LLP alleges HV Bancorp’s financial outlook and prospects are excellent and yet HV Bancorp holders will receive only either $30.50 in cash or 0.400 shares of CZFS common stock, or approximately $67.4 million in the aggregate. The transaction agreement unreasonably limits competing bids for HV Bancorp by imposing a significant penalty if HV Bancorp accepts a superior bid. HV Bancorp insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of HV Bancorp’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for HV Bancorp.