Welcome to our dedicated page for Home Federal Bancorp of Louisiana news (Ticker: HFBL), a resource for investors and traders seeking the latest updates and insights on Home Federal Bancorp of Louisiana stock.
Home Federal Bancorp, Inc. of Louisiana (Nasdaq: HFBL) operates as the holding company for Home Federal Bank. It is a federally chartered stock savings bank providing a range of financial services to individuals, corporate entities, and organizations primarily in northwest Louisiana. The company attracts deposits from the public through various products such as savings accounts, NOW accounts, money market accounts, certificate accounts, passbook savings, certificates of deposit, and demand deposit accounts.
Home Federal Bancorp's loan portfolio is diverse, encompassing real estate loans including one to four-family residential loans, commercial real estate loans, multi-family residential loans, and land loans. They also offer construction loans, home equity and second mortgage loans, equity lines of credit, and consumer loans like those secured by deposit accounts and automobile loans.
The company has shown robust financial performance with notable achievements. As of June 30, 2023, Home Federal Bancorp reported total assets of $660.9 million, an 11.9% increase from the previous year. The company’s net income for the fiscal year ended June 30, 2023, was $5.7 million, marking a significant rise from $4.9 million in 2022. This growth in net income was driven by a substantial increase in net interest income, despite rising interest expenses.
In the wake of adopting the new CECL (Current Expected Credit Loss) methodology in 2023, the company made strategic adjustments to its allowance for credit losses and stockholders’ equity. As of December 31, 2023, the ACL stood at $5.1 million, with a ratio of ACL to gross loans at 1.00%.
Home Federal Bancorp continues expanding its loan portfolio and enhancing its financial services. The acquisition of First National Bank of Benton in February 2023 significantly boosted its loan and investment securities portfolios. Despite fluctuations in refinance activities affecting mortgage loan originations, the company managed to maintain a steady stream of service charges and other income.
As of March 31, 2024, the company reported total assets of $643.0 million. Shareholders' equity saw a 4.0% increase to $52.6 million, supported by net income, a decrease in comprehensive loss, and the vesting of stock awards. The company remains focused on delivering consistent dividend payouts, with a quarterly cash dividend of $0.125 per share declared in April 2024.
Home Federal Bancorp's operations highlight its commitment to providing comprehensive financial solutions, managing risks effectively, and ensuring financial stability and growth for its stakeholders.
Home Federal Bancorp (NASDAQ: HFBL) has announced its thirteenth stock repurchase program, approved by the Board of Directors on October 31, 2024. The program authorizes the repurchase of up to 100,000 shares, representing approximately 3.0% of the company's outstanding common stock. The repurchases can be executed through open market or privately negotiated transactions, with no specified expiration date. Home Federal Bank operates from ten full-service banking offices and a home office in northwest Louisiana.
Home Federal Bancorp (NASDAQ: HFBL) reported net income of $941,000 for Q3 2024, down from $1.2 million in Q3 2023. The company's earnings per share decreased to $0.31 from $0.40. The decline was primarily due to a 16.2% decrease in net interest income and a 30.9% decrease in non-interest income. Total assets decreased by $9.1 million to $628.4 million, while net loans receivable decreased by $16.9 million to $454.0 million. The company's net interest margin contracted to 2.98% from 3.37% year-over-year.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL), the holding company for Home Federal Bank, has announced a quarterly cash dividend. The Board of Directors declared a dividend of $0.13 per share on the Company's common stock during their meeting on October 16, 2024. This dividend will be payable on November 11, 2024, to shareholders of record at the close of business on October 28, 2024.
Home Federal Bank operates ten full-service banking offices and a home office in northwest Louisiana. The company provides additional information on their website at www.hfb.bank.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) reported net income of $638,000 for Q4 2024, down from $1.3 million in Q4 2023. For the full fiscal year 2024, net income was $3.6 million, compared to $5.7 million in FY 2023. The decrease was primarily due to lower net interest income and non-interest income, partially offset by decreased credit loss provisions and income taxes.
Key financial metrics for FY 2024:
- Net interest margin: 3.08% (down from 3.73% in FY 2023)
- Total assets: $637.5 million (3.5% decrease)
- Net loans: $470.9 million (3.8% decrease)
- Total deposits: $574.0 million (3.9% decrease)
- Shareholders' equity: $52.8 million (4.5% increase)
The company adopted the CECL methodology for estimating credit losses on July 1, 2023, resulting in a $189,000 increase to the allowance for credit losses.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL), the holding company for Home Federal Bank, has declared a quarterly cash dividend of $0.13 per share on its common stock. This marks the 11th consecutive year of dividend increases and the 77th consecutive quarterly cash dividend. The dividend is payable on August 19, 2024, to shareholders of record as of August 5, 2024.
Chairman, President, and CEO James R. Barlow emphasized the company's commitment to creating shareholder value and expressed confidence in its financial strength and long-term prospects. The increased dividend reflects a payout ratio of approximately 54% based on earnings for the quarter ended March 31, 2024. Home Federal Bank operates ten full-service banking offices in northwest Louisiana.
Home Federal Bancorp, Inc. of Louisiana reported net income of $732,000 for the three months ended March 31, 2024, compared to $1.1 million for the same period in 2023. Basic and diluted earnings per share decreased from $0.35 to $0.24 for the three months ended March 31, 2024. For the nine months ended March 31, 2024, net income was $3.0 million compared to $4.4 million for the nine months ended March 31, 2023.
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