HMN Financial, Inc. announced upon the recommendation of its governance and nominating committee, increased the size of the board from eight to nine members and elected Jeffrey W. Bolton to fill the resulting vacancy, with a term to expire at the company's annual meeting of stockholders to be held in 2025. As a non-employee director, Mr. Bolton will participate in the non-employee director compensation arrangements described in the company's definitive proxy statement filed with the securities and exchange commission on March 21, 2022. On May 24, 2022, the Board appointed Mr. Bolton to serve on the audit committee of the board.
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