UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549
________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) –September 30, 2010
________________________________

NEFFS BANCORP, INC.
(Exact name of registrant as specified in its charter)


Pennsylvania
 
000-32605
 
23-2400383
State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification Number)

5629 Route 873
P.O. Box 10
Neffs, Pennsylvania
 
18065-0010
(Address of principal executive offices)
 
(Zip Code)

Registrant's telephone number including area code: (610) 767-3875

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
ITEM  2.02.  Results of Operations and Financial Condition

Neffs Bancorp, Inc. (the “Corporation”) is a Pennsylvania business corporation which is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended (the “Holding Company Act”).  The Corporation was incorporated on March 24, 1986 and became an active bank holding company on October 31, 1986.  The Corporation owns all of the outstanding stock of The Neffs National Bank (the “Bank”).

Net income for the third quarter of 2010 was $918,000 or $5.07 per share, compared to $554,000 or $2.98 per share for third quarter of 2009.  Net income for the first nine months of 2010 was $2,761,000 or $15.15 per share, compared to $2,271,000 or $12.12 per share for same period of 2009.

The Corporation’s total assets were $271,856,000 at September 30, 2010, compared to $258,177,000 at December 31, 2009.

Neffs Bancorp, Inc. may from time to time make written or oral “forward-looking statements,” including statements contained in the Corporation’s filings with the Securities and Exchange Commission (including this Form 8-K and the exhibits hereto and thereto), in its reports to stockholders and in other communications by the Corporation, which are made in good faith by the Corporation pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

The information in this Item 2.02 is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
 
 
 
 
 
Neffs Bancorp, Inc.
Selected Consolidated Financial Data
As of September 30, 2010
Dollars in thousands, except per share data
(unaudited)

Selected Consolidated Statements of Income
           
   
Three Months Ended September 30,
   
Nine Months Ended September 30,
 
   
2010
   
2009
   
2010
   
2009
 
                         
Total interest income
  $ 3,407     $ 3,395     $ 10,173     $ 10,053  
Total interest expense
    (1,215 )     (1,375 )     (3,700 )     (4,176 )
                                 
Net interest income
    2,192       2,020       6,473       5,877  
Provision for loan losses
    (154 )     (60 )     (274 )     (61 )
                                 
Net interest income after provision for loan losses
    2,038       1,960       6,199       5,816  
                                 
Other income
    64       (461 )     84       (335 )
Other expenses
    (916 )     (834 )     (2,663 )     (2,562 )
                                 
Income before income taxes
    1,186       665       3,620       2,919  
Income tax expense
    (268 )     (111 )     (859 )     (648 )
                                 
Net income
  $ 918     $ 554     $ 2,761     $ 2,271  
                                 
                                 
Per Share Data
                               
                                 
Basic earnings
  $ 5.07     $ 2.98     $ 15.15     $ 12.12  
Book value
  $ 257.91     $ 244.94     $ 257.91     $ 244.94  
Dividends declared
  $ 2.75     $ 2.00     $ 4.75     $ 4.00  
Average shares outstanding
    180,999       185,983       182,192       187,341  
Actual shares outstanding
    180,845       183,708       180,845       183,708  

Selected Consolidated Statements of Financial Condition
       
       
   
September 30, 2010
   
December 31, 2009
 
Total assets
  $ 271,856     $ 258,177  
Securities
    144,572       135,967  
Loans, net of allowance
    117,777       111,159  
Allowance for loan losses
    1,031       829  
Deposits
    223,693       211,391  
Stockholders'  Equity
    46,642       45,628  
 
 
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


   
NEFFS BANCORP, INC.
(Registrant)
     
Dated:  October 29, 2010
 
By:
/s/ John J. Remaley
   
Name:
John J. Remaley
   
Title:
President

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