Income Statement HMN FINAPAR

Stocks

HMNF

US40424G1085

Banks

Market Closed - Nasdaq Other stock markets 16:00:00 2024-10-09 EDT			5-day change	1st Jan Change
27.99 ^USD	-2.13%		-.--%	-

24-10-10	HMN Financial, Inc.(NasdaqGM:HMNF) dropped from S&P TMI Index	CI
24-10-09	Alerus Financial Completes Acquisition of HMN Financial for $128.8 Million	MT

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Published financial data: HMN FINAPAR

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	29.79M	29.92M	29.45M	30.45M	39.65M
Interest Income On Investments	2.1M	2.04M	2.31M	3.81M	3.83M
Interest Income, Total	31.89M	31.96M	31.76M	34.26M	43.48M
Interest On Deposits	3.33M	2.85M	1.55M	1.75M	12.35M
Total Interest On Borrowings	7K	-	-	251K	371K
Interest Expense, Total	3.34M	2.85M	1.55M	2M	12.72M
Net Interest Income	28.55M	29.11M	30.21M	32.26M	30.76M
Gain (Loss) on Sale of Loans	2.94M	9.53M	6.57M	2.39M	1.49M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	46K	-19K	99K	-22K	157K
Total Other Non Interest Income	5.47M	5.44M	7.6M	6.52M	6.63M
Non Interest Income, Total	8.46M	14.95M	14.26M	8.89M	8.28M
Revenues Before Provison For Loan Losses	37.01M	44.06M	44.47M	41.14M	39.04M
Provision For Loan Losses	-1.22M	2.7M	-2.12M	1.07M	713K
Total Revenues	38.22M	41.36M	46.59M	40.07M	38.32M
Salaries And Other Employee Benefits	15.05M	15.07M	15.44M	16.52M	17.49M
Occupancy Expense	3.55M	3.54M	3.63M	3.61M	3.43M
Federal Deposit Insurance	-	-	-	-	-
Selling General & Admin Expenses, Total	4.34M	4.19M	4.3M	4.22M	4.06M
(Income) Loss on Real Estate Property	-	-	-	-	-
Total Other Non Interest Expense	4.17M	4.2M	4.29M	4.44M	4.8M
Non Interest Expense, Total	27.1M	26.99M	27.66M	28.8M	29.77M
EBT, Excl. Unusual Items	11.12M	14.37M	18.93M	11.27M	8.55M
Impairment of Goodwill	-	-	-	-	-
EBT, Incl. Unusual Items	11.12M	14.37M	18.93M	11.27M	8.55M
Income Tax Expense	3.32M	4.07M	5.36M	3.23M	2.55M
Earnings From Continuing Operations	7.79M	10.3M	13.56M	8.04M	6M
Net Income to Company	7.79M	10.3M	13.56M	8.04M	6M
Net Income - (IS)	7.79M	10.3M	13.56M	8.04M	6M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	7.79M	10.3M	13.56M	8.04M	6M
Net Income to Common Excl. Extra Items	7.79M	10.3M	13.56M	8.04M	6M
Per Share Items
Net EPS - Basic	1.69	2.23	3.03	1.85	1.38
Basic EPS - Continuing Operations	1.69	2.23	3.03	1.85	1.38
Basic Weighted Average Shares Outstanding	4.61M	4.62M	4.47M	4.36M	4.35M
Net EPS - Diluted	1.68	2.22	3.01	1.83	1.37
Diluted EPS - Continuing Operations	1.68	2.22	3.01	1.83	1.37
Diluted Weighted Average Shares Outstanding	4.64M	4.65M	4.5M	4.39M	4.38M
Normalized Basic EPS	1.51	1.94	2.65	1.62	1.23
Normalized Diluted EPS	1.5	1.93	2.63	1.6	1.22
Dividend Per Share	-	-	-	0.24	0.3
Payout Ratio	-	-	-	13.04	21.75
Supplemental Items
Effective Tax Rate - (Ratio)	29.9	28.31	28.34	28.62	29.79
Current Domestic Taxes	2.83M	4.87M	4.75M	3.12M	2.96M
Total Current Taxes	2.83M	4.87M	4.75M	3.12M	2.96M
Deferred Domestic Taxes	496K	-802K	612K	103K	-410K
Total Deferred Taxes	496K	-802K	612K	103K	-410K
Normalized Net Income	6.95M	8.98M	11.83M	7.04M	5.35M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	611K	576K	676K	691K	625K
Total Stock-Based Compensation	611K	576K	676K	691K	625K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	44.4M	86.27M	94.14M	36.26M	11.15M
Investment Securities, Total	52.91M	46.63M	40.37M	53.33M	53.68M
Mortgage Backed Securities	54.85M	101M	245M	193M	161M
Total investments	108M	148M	286M	246M	215M
Gross Loans	605M	654M	662M	788M	858M
Allowance For Loan Losses	-8.56M	-10.7M	-9.28M	-10.28M	-11.82M
Other Adjustments to Gross Loans	-15K	-462K	-219K	-532K	-592K
Net Loans	596M	643M	653M	777M	846M
Gross Property Plant And Equipment	31.52M	30.39M	35.84M	35.85M	35.13M
Accumulated Depreciation	-17M	-17.05M	-18.07M	-18.86M	-18.84M
Net Property Plant And Equipment	14.52M	13.33M	17.77M	16.99M	16.3M
Goodwill	802K	802K	802K	802K	802K
Other Intangibles, Total	156K	57K	10K	0	-
Investment in FHLB	854K	-	-	-	-
Loans Held For Sale	3.61M	6.19M	5.58M	1.31M	1.01M
Accrued Interest Receivable	2.25M	3.1M	2.13M	3M	3.55M
Other Current Assets, Total	2.45M	3.4M	4.74M	3.4M	-
Deferred Tax Assets Long-Term (Collected)	1.7M	2.03M	2.53M	8.35M	7.17M
Other Real Estate Owned And Foreclosed	580K	636K	290K	-	-
Other Long-Term Assets, Total	2.17M	3.04M	3.28M	2.99M	6.37M
Total Assets	778M	910M	1.07B	1.1B	1.11B
Liabilities
Accrued Expenses, Total	4.24M	5.75M	6.24M	5.99M	4.48M
Interest Bearing Deposits	275M	286M	213M	282M	562M
Institutional Deposits	216M	269M	394M	374M	414M
Non-Interest Bearing Deposits	183M	240M	344M	326M	-
Total Deposits	674M	795M	951M	982M	977M
Short-Term Borrowings	-	-	-	-	13.2M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	887K	896K	217K	232K	212K
Long-Term Debt	-	-	-	-	-
Long-Term Leases	3.16M	2.34M	175K	301K	101K
Accrued Interest Payable	420K	140K	63K	298K	2.4M
Other Non Current Liabilities	2.41M	2M	2.14M	10.12M	2.25M
Total Liabilities	685M	806M	960M	999M	999M
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	91K	91K	91K	91K	91K
Additional Paid In Capital	40.36M	40.48M	40.74M	41.01M	41.24M
Retained Earnings	108M	118M	131M	138M	142M
Treasury Stock	-53.76M	-55M	-59.37M	-61.35M	-61.84M
Comprehensive Income and Other	-1.6M	-168K	-2.84M	-20.82M	-14.06M
Total Common Equity	92.65M	103M	110M	97.34M	108M
Total Equity	92.65M	103M	110M	97.34M	108M
Total Liabilities And Equity	778M	910M	1.07B	1.1B	1.11B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.64M	4.57M	4.41M	4.35M	4.35M
ECS Total Common Shares Outstanding	4.64M	4.59M	4.41M	4.35M	4.35M
Book Value / Share	19.98	22.51	24.97	22.39	24.77
Tangible Book Value	91.69M	102M	109M	96.53M	107M
Tangible Book Value Per Share	19.77	22.32	24.79	22.21	24.58
Average Loans	592M	652M	637M	702M	818M
Total Debt	4.04M	3.24M	392K	533K	13.51M
Net Debt	-40.35M	-83.03M	-93.75M	-35.73M	2.36M
Full Time Employees	181	172	163	164	161
Part Time Employees	-	-	-	-	-
Number Of Offices	14	14	14	14	14

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	7.79M	10.3M	13.56M	8.04M	6M
Depreciation, Depletion & Amortization	1.13M	1.11M	1.07M	1.22M	1.12M
Amortization of Goodwill and Intangible Assets - (CF)	879K	1.42M	1.22M	919K	832K
Total Depreciation, Depletion & Amortization	2.01M	2.52M	2.28M	2.14M	1.95M
Gain (Loss) on Sale of Loans & Receivables - (CF)	-2.98M	-9.56M	-6.59M	-2.41M	-1.49M
(Gain) Loss On Sale of Asset - (CF)	24K	-134K	-1.51M	-119K	-35K
(Gain) Loss on Sale of Investments - (CF)	-43K	240K	936K	1.02M	563K
Provision for Credit Losses	-1.22M	2.7M	-2.12M	1.07M	713K
Stock-Based Compensation (CF)	611K	576K	676K	691K	625K
Net (Increase) Decrease in Loans Originated / Sold - Operating	9M	13.54M	20.3M	21.61M	6.01M
Changes in Accrued Interest Receivable	105K	-851K	970K	-871K	-550K
Changes in Accrued Interest Payable	74K	-280K	-77K	235K	2.1M
Change in Other Net Operating Assets (Collected)	494K	1.84M	-804K	1.23M	-1.66M
Other Operating Activities	-664K	-3.96M	-3.33M	-1.32M	-544K
Cash from Operations	15.2M	16.94M	24.3M	31.31M	13.69M
Capital Expenditure	-2.23M	-734K	-8.31M	-342K	-691K
Sale of Property, Plant, and Equipment	195K	12K	17K	9K	85K
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Real Estate Properties (Collected)	-	434K	2.13M	403K	237K
Investment in Marketable and Equity Securities, Total	-26.16M	-39.01M	-143M	14.66M	38.12M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-14.76M	-55.11M	-18.43M	-140M	-74.77M
Other Investing Activities, Total	13K	-79K	-159K	-191K	31K
Cash from Investing	-42.95M	-94.48M	-167M	-125M	-36.99M
Short Term Debt Issued, Total	-	2K	1K	159M	251M
Long-Term Debt Issued, Total	26M	-	-	-	-
Total Debt Issued	26M	2K	1K	159M	251M
Short Term Debt Repaid, Total	-	-2K	-1K	-159M	-238M
Long-Term Debt Repaid, Total	-26M	-	-	-	-
Total Debt Repaid	-26M	-2K	-1K	-159M	-238M
Repurchase of Common Stock	-45K	-1.51M	-4.6M	-2.2M	-693K
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-	-	-	-1.05M	-1.31M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-1.05M	-1.31M
Net Increase (Decrease) in Deposit Accounts - (CF)	50.52M	121M	155M	31.26M	-5.13M
Other Financing Activities, Total	965K	-415K	145K	7.98M	-7.88M
Cash from Financing	51.44M	119M	151M	35.99M	-1.81M
Net Change in Cash	23.69M	41.87M	7.87M	-57.88M	-25.11M
Supplemental Items
Cash Interest Paid	3.26M	3.13M	1.63M	1.76M	10.62M
Cash Income Tax Paid (Refund)	2.91M	3.62M	6.63M	2M	2.39M
Net Debt Issued / Repaid	0	0	0	0	13.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.05	1.22	1.37	0.74	0.54
Return On Equity %	8.87	10.52	12.72	7.76	5.86
Return on Common Equity	8.87	10.52	12.72	7.76	5.86
Shareholders Value Added	-1.88M	-35K	1.98M	-3.48M	-5.47M
Margin Analysis
SG&A Margin	60.01	55.11	50.16	60.78	65.17
Net Interest Income / Total Revenues %	74.7	70.37	64.84	80.5	80.25
EBT Excl. Non-Recurring Items Margin %	29.09	34.74	40.63	28.13	22.32
Income From Continuing Operations Margin %	20.39	24.91	29.11	20.08	15.67
Net Income Margin %	20.39	24.91	29.11	20.08	15.67
Net Avail. For Common Margin %	20.39	24.91	29.11	20.08	15.67
Normalized Net Income Margin	18.18	21.71	25.39	17.58	13.95
Asset quality
Nonperforming Loans / Total Loans %	0.34	0.41	0.7	0.24	0.44
Nonperforming Loans / Total Assets %	0.27	0.3	0.43	0.17	0.34
Nonperforming Assets / Total Assets %	0.34	0.36	0.46	0.17	0.34
NPAs / Loans and OREO	0.44	0.51	0.74	0.24	0.44
NPAs / Equity	2.87	3.22	4.46	1.93	3.54
Allowance for Credit Losses / Net Charge-offs %	-782.82	1.9K	-1.33K	14.08K	3.72K
Allowance for Credit Losses / Nonperforming Loans %	411.53	398.62	200.8	547.23	309.69
Allowance for Credit Losses / Total Loans %	1.42	1.64	1.4	1.3	1.38
Net Charge-offs / Total Average Loans %	-0.18	0.09	-0.11	0.01	0.04
Provision for Loan Losses / Net Charge-offs %	111.15	478.55	303.15	1.47K	224.21
Earning Assets / IBL	148.51	152.44	155.69	159.74	147.53
Capital And Funding
Total Average Common Equity / Total Average Assets %	11.8	11.61	10.78	9.57	9.31
Total Average Equity / Total Average Assets %	11.8	11.61	10.78	9.57	9.31
Total Equity + Allowance for Loan Losses / Total Loans %	16.73	17.43	18.02	13.66	13.93
Gross Loans / Total Deposits %	89.78	82.22	69.64	80.24	87.85
Net Loans / Total Deposits %	88.5	80.81	68.64	79.14	86.58
Tier 1 Capital Ratio %	13.21	13.62	13.18	11.48	11.54
Total Capital Ratio %	14.46	14.87	14.43	12.65	12.8
Core Tier 1 Capital Ratio	13.21	13.62	13.18	11.48	11.54
Coverage Ratio	222.38	342.26	199.55	480.23	276
Leverage Ratio %	10.89	9.85	9.47	9.14	9.08
Fixed Charges Coverage
EBT + Interest on Borrowings / Interest on Borrowings	1.59K	-	-	45.9	24.05
EBT + Interest Expense / Interest Expense	4.33	6.04	13.19	6.64	1.67
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	1.43	1.95	3.78	6.78	-4.65
Non Interest Income, 1 Yr. Growth %	9.61	76.87	-5.44	-37.69	-6.82
Provision For Loan Losses, 1 Yr. Growth %	87.37	-321.96	-178.51	-150.54	-33.43
Total Revenues, 1 Yr. Growth %	4.69	8.22	12.29	-13.99	-4.36
Earnings From Cont. Operations, 1 Yr. Growth %	-5.38	32.2	31.66	-40.69	-25.36
Net Income, 1 Yr. Growth %	-5.38	32.2	31.66	-40.69	-25.36
Normalized Net Income, 1 Yr. Growth %	-0.06	29.26	31.73	-40.46	-24.12
Diluted EPS Before Extra, 1 Yr. Growth %	-1.75	32.14	35.59	-39.2	-25.14
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	25
Gross Loans, 1 Yr. Growth %	1.61	8.07	1.26	19.02	8.91
Allowance For Loan Losses, 1 Yr. Growth %	-1.4	24.93	-13.27	10.76	15.05
Net Loans, 1 Yr. Growth %	1.65	7.75	1.54	19.09	8.83
Non Performing Loans, 1 Yr. Growth %	-22.29	28.98	72.17	-59.36	103.3
Non Performing Assets, 1 Yr. Growth %	-13.94	24.77	47.92	-61.76	103.3
Total Assets, 1 Yr. Growth %	9.17	16.97	17.59	2.49	1
Total Deposits, 1 Yr Growth %	8.1	18.01	19.55	3.29	-0.52
Tangible Book Value, 1 Yr. Growth %	11.69	11.67	6.67	-11.61	10.74
Average Interest Earning Assets, 1 Yr. Growth %	1.17	15.96	15.96	8.28	5.26
Average Interest Bearing Liabilities, 1 Yr. Growth %	-0.46	12.97	13.54	5.54	13.96
Common Equity, 1 Yr. Growth %	11.43	11.45	6.57	-11.54	10.65
Total Equity, 1 Yr. Growth %	11.43	11.45	6.57	-11.54	10.65
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	5.03	1.69	2.86	5.27	0.9
Non Interest Income, 2 Yr. CAGR %	5.1	39.23	29.88	-23.24	-23.8
Provision For Loan Losses, 2 Yr. CAGR %	52.48	103.93	32.01	-37.01	-41.99
Total Revenues, 2 Yr. CAGR %	5.93	6.44	10.41	-1.73	-9.3
Earnings From Cont. Operations, 2 Yr. CAGR %	33.02	11.84	31.93	-11.63	-33.46
Net Income, 2 Yr. CAGR %	33.02	11.84	31.93	-11.63	-33.46
Normalized Net Income, 2 Yr. CAGR %	12.36	13.66	30.49	-11.44	-32.78
Diluted EPS Before Extra, 2 Yr. CAGR %	36.63	13.94	33.85	-9.21	-32.54
Gross Loans, 2 Yr. CAGR %	0.81	4.79	4.61	9.78	13.85
Allowance For Loan Losses, 2 Yr. CAGR %	-4.1	10.98	4.09	-1.99	12.88
Net Loans, 2 Yr. CAGR %	0.89	4.66	4.6	9.96	13.85
Non Performing Loans, 2 Yr. CAGR %	-18.64	0.11	49.02	-16.35	-9.1
Non Performing Assets, 2 Yr. CAGR %	-16	3.62	35.85	-24.79	-11.83
Total Assets, 2 Yr. CAGR %	3.73	13	17.28	9.78	1.74
Total Deposits, 2 Yr CAGR %	2.97	12.95	18.78	11.12	1.36
Tangible Book Value, 2 Yr. CAGR %	7.28	11.68	9.14	-2.9	-1.06
Average Interest Earning Assets, 2 Yr. CAGR %	2.66	8.31	15.96	12.06	6.76
Average Interest Bearing Liabilities, 2 Yr. CAGR %	2.14	6.04	13.25	9.47	9.67
Common Equity, 2 Yr. CAGR %	7.07	11.44	8.98	-2.91	-1.06
Total Equity, 2 Yr. CAGR %	7.07	11.44	8.98	-2.91	-1.06
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	3.49	3.99	2.38	4.15	1.85
Non Interest Income, 3 Yr. CAGR %	1.02	25.01	22.74	1.67	-18.12
Provision For Loan Losses, 3 Yr. CAGR %	23.54	72.81	48.35	-4.14	-35.84
Total Revenues, 3 Yr. CAGR %	3.37	6.69	8.46	1.59	-2.61
Earnings From Cont. Operations, 3 Yr. CAGR %	7.06	32.75	18.09	1.07	-16.47
Net Income, 3 Yr. CAGR %	7.06	32.75	18.09	1.07	-16.47
Normalized Net Income, 3 Yr. CAGR %	2.01	17.73	19.39	0.46	-15.88
Diluted EPS Before Extra, 3 Yr. CAGR %	7.83	35.12	20.74	2.89	-14.86
Gross Loans, 3 Yr. CAGR %	2.54	3.18	3.6	9.21	9.49
Allowance For Loan Losses, 3 Yr. CAGR %	-4.73	4.74	2.23	6.27	3.39
Net Loans, 3 Yr. CAGR %	2.66	3.13	3.61	9.22	9.58
Non Performing Loans, 3 Yr. CAGR %	-14.01	-5.14	19.94	-3.36	12.47
Non Performing Assets, 3 Yr. CAGR %	-11.96	-4.16	16.67	-10.97	4.77
Total Assets, 3 Yr. CAGR %	4.47	7.97	14.51	12.13	6.77
Total Deposits, 3 Yr CAGR %	4.36	7.75	15.11	13.37	7.1
Tangible Book Value, 3 Yr. CAGR %	7.09	8.73	9.99	1.73	1.45
Average Interest Earning Assets, 3 Yr. CAGR %	4.05	6.91	10.8	13.34	9.74
Average Interest Bearing Liabilities, 3 Yr. CAGR %	3.27	5.63	8.48	10.62	10.95
Common Equity, 3 Yr. CAGR %	6.86	8.51	9.79	1.66	1.42
Total Equity, 3 Yr. CAGR %	6.86	8.51	9.79	1.66	1.42
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	8.03	7.85	3.24	4.5	1.79
Non Interest Income, 5 Yr. CAGR %	3.03	14.34	11.7	3.03	1.43
Provision For Loan Losses, 5 Yr. CAGR %	-29.53	75.09	26.86	15.41	1.9
Total Revenues, 5 Yr. CAGR %	2.56	8.3	6.13	3.3	0.97
Earnings From Cont. Operations, 5 Yr. CAGR %	1.1	28.36	16.39	12.81	-6.12
Net Income, 5 Yr. CAGR %	1.1	28.36	16.39	12.81	-6.12
Normalized Net Income, 5 Yr. CAGR %	-1.97	25.77	12.57	5.06	-5.12
Diluted EPS Before Extra, 5 Yr. CAGR %	6.43	29.48	17.57	15.25	-4.34
Gross Loans, 5 Yr. CAGR %	10.12	6.69	3.36	5.77	7.58
Allowance For Loan Losses, 5 Yr. CAGR %	0.55	1.96	-1.29	1.99	6.36
Net Loans, 5 Yr. CAGR %	10.31	6.77	3.43	5.81	7.59
Non Performing Loans, 5 Yr. CAGR %	-28.22	-8.48	7.14	-9.79	7.35
Non Performing Assets, 5 Yr. CAGR %	-28.28	-11.82	4.72	-13.01	4.31
Total Assets, 5 Yr. CAGR %	6.13	7.18	9.42	8.69	9.22
Total Deposits, 5 Yr CAGR %	6.29	7.29	9.91	9.09	9.4
Tangible Book Value, 5 Yr. CAGR %	6.79	8.14	7.9	3.92	5.42
Average Interest Earning Assets, 5 Yr. CAGR %	4.22	7.91	8.66	8.94	9.17
Average Interest Bearing Liabilities, 5 Yr. CAGR %	3.94	6.59	7.15	7.15	8.96
Common Equity, 5 Yr. CAGR %	7.01	8.19	7.7	3.79	5.31
Total Equity, 5 Yr. CAGR %	4.04	8.19	7.7	3.79	5.31