HMN Financial, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 21, 2022
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HMN Financial, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net interest income was USD 7.77 million compared to USD 7.68 million a year ago. Net income was USD 2.29 million compared to USD 4.53 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 1.01 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 1 a year ago.
For the six months, net interest income was USD 15.05 million compared to USD 15.12 million a year ago. Net income was USD 3.78 million compared to USD 7.95 million a year ago. Basic earnings per share from continuing operations was USD 0.86 compared to USD 1.76 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 1.74 a year ago.
HMN Financial, Inc. is a stock savings bank holding company. The Company is a holding company for Home Federal Savings Bank (the Bank). The Bank operates community banking and loan production offices in Minnesota, Iowa and Wisconsin. The Bank has two wholly owned subsidiaries, Osterud Insurance Agency, Inc. (OIA), which does business as Home Federal Investment Services and offers financial planning products and services, and HFSB Property Holdings, LLC (HPH) which is inactive. Its lending activities include general, single family residential real estate lending, commercial real estate and multi-family lending, construction lending, consumer lending and commercial business lending. It originates 15- and 30-year fixed rate mortgage loans secured by single family residences and sells the majority of these loans into the secondary market. It makes construction loans to individuals for the construction of their residences and to builders for the construction of single family residences.