Home Federal Bancorp, Inc. of Louisiana Reports Results of Operations for the Three and Six Months Ended December 31, 2024
Home Federal Bancorp (NASDAQ: HFBL) reported net income of $1.02 million for Q4 2024, slightly up from $1.00 million in Q4 2023. However, six-month net income decreased to $2.0 million from $2.2 million year-over-year. The company's earnings per share remained stable at $0.33 for Q4 but declined to $0.64 from $0.73 for the six-month period.
Key financial metrics show mixed performance: nonperforming assets remained stable at 0.30% of total assets, total assets decreased by 4.7% to $607.8 million, and net loans receivable declined by 2.6% to $458.7 million. The company's net interest margin slightly contracted to 3.12% in Q4 2024 from 3.14% in Q4 2023, while the six-month net interest margin decreased to 3.06% from 3.26%.
Total deposits decreased by 4.8% to $546.5 million, with significant changes in deposit mix including a 14.3% decrease in certificates of deposit and a 21.7% increase in savings deposits.
Home Federal Bancorp (NASDAQ: HFBL) ha riportato un utile netto di $1,02 milioni per il quarto trimestre del 2024, leggermente superiore rispetto a $1,00 milioni nel quarto trimestre del 2023. Tuttavia, l'utile netto semestrale è diminuito a $2,0 milioni rispetto a $2,2 milioni dell'anno precedente. L'utile per azione della società è rimasto stabile a $0,33 per il quarto trimestre, ma è calato a $0,64 rispetto a $0,73 per il semestre.
Le principali metriche finanziarie mostrano performance miste: gli attivi non performanti sono rimasti stabili allo 0,30% del totale degli attivi, e il totale degli attivi è diminuito del 4,7% a $607,8 milioni, mentre i prestiti netti da riscuotere sono calati del 2,6% a $458,7 milioni. Il margine di interesse netto della società si è leggermente contratto al 3,12% nel quarto trimestre del 2024 rispetto al 3,14% nel quarto trimestre del 2023, mentre il margine di interesse netto semestrale è sceso al 3,06% rispetto al 3,26%.
I depositi totali sono diminuiti del 4,8% a $546,5 milioni, con cambiamenti significativi nella composizione dei depositi, inclusa una diminuzione del 14,3% nelle certificazioni di deposito e un aumento del 21,7% nei depositi di risparmio.
Home Federal Bancorp (NASDAQ: HFBL) reportó un ingreso neto de $1.02 millones para el cuarto trimestre de 2024, ligeramente por encima de $1.00 millones en el cuarto trimestre de 2023. Sin embargo, el ingreso neto semestral disminuyó a $2.0 millones desde $2.2 millones en comparación con el año anterior. Las ganancias por acción de la empresa se mantuvieron estables en $0.33 para el cuarto trimestre, pero cayeron a $0.64 desde $0.73 para el período de seis meses.
Los principales indicadores financieros muestran un desempeño mixto: los activos no rentables se mantuvieron estables en 0.30% del total de activos, los activos totales disminuyeron en un 4.7% a $607.8 millones, y los préstamos netos a cobrar disminuyeron en un 2.6% a $458.7 millones. El margen de interés neto de la compañía se contrajo ligeramente al 3.12% en el cuarto trimestre de 2024 desde el 3.14% en el cuarto trimestre de 2023, mientras que el margen de interés neto semestral disminuyó al 3.06% desde el 3.26%.
Los depósitos totales disminuyeron en un 4.8% a $546.5 millones, con cambios significativos en la mezcla de depósitos que incluyen una disminución del 14.3% en certificados de depósito y un aumento del 21.7% en depósitos de ahorro.
홈 페더럴 뱅콥 (NASDAQ: HFBL)는 2024년 4분기에 102만 달러의 순이익을 보고했으며, 이는 2023년 4분기의 100만 달러에서 소폭 증가한 수치입니다. 그러나 6개월 순이익은 220만 달러에서 200만 달러로 감소했습니다. 회사의 주당 순이익은 4분기 동안 0.33달러로 안정적이었으나 6개월 기간 동안 0.64달러로 0.73달러에서 감소했습니다.
주요 재무 지표는 혼합된 성과를 보여줍니다: 비수익 자산은 총 자산의 0.30%로 안정적으로 유지되었고, 총 자산은 4.7% 감소하여 6억 7천 8백만 달러가 되었으며, 순 대출 채권은 2.6% 감소하여 4억 5천 8백 7십만 달러가 되었습니다. 회사의 순이자 마진은 2024년 4분기 동안 3.12%로 2023년 4분기 3.14%에서 약간 축소되었습니다. 6개월 순이자 마진은 3.06%로 3.26%에서 감소했습니다.
총 예금은 4.8% 감소하여 5억 4천 6백 5십만 달러가 되었으며, 예금 종류에서 14.3% 감소한 예금 증서와 21.7% 증가한 저축예금이 포함된 중대한 변화가 있었습니다.
Home Federal Bancorp (NASDAQ: HFBL) a rapporté un revenu net de 1,02 million de dollars pour le quatrième trimestre de 2024, légèrement en hausse par rapport à 1,00 million de dollars au quatrième trimestre de 2023. Cependant, le revenu net semestriel a diminué à 2,0 millions de dollars contre 2,2 millions de dollars d'une année sur l'autre. Le bénéfice par action de l'entreprise est resté stable à 0,33 dollar pour le quatrième trimestre, mais a chuté à 0,64 dollar contre 0,73 dollar pour la période de six mois.
Les principaux indicateurs financiers montrent des performances mixtes : les actifs non performants sont restés stables à 0,30 % des actifs totaux, les actifs totaux ont diminué de 4,7 % à 607,8 millions de dollars, et les prêts nets à recevoir ont baissé de 2,6 % à 458,7 millions de dollars. La marge d'intérêt nette de l'entreprise a légèrement diminué à 3,12 % au quatrième trimestre 2024 par rapport à 3,14 % au quatrième trimestre 2023, tandis que la marge d'intérêt nette semestrielle a baissé à 3,06 % contre 3,26 %.
Les dépôts totaux ont diminué de 4,8 % à 546,5 millions de dollars, avec des changements significatifs dans la composition des dépôts, y compris une baisse de 14,3 % des certificats de dépôt et une hausse de 21,7 % des dépôts d'épargne.
Home Federal Bancorp (NASDAQ: HFBL) berichtete für das 4. Quartal 2024 einen Nettogewinn von 1,02 Millionen Dollar, was einen leichten Anstieg gegenüber 1,00 Millionen Dollar im 4. Quartal 2023 darstellt. Der Nettogewinn über sechs Monate hingegen sank auf 2,0 Millionen Dollar von 2,2 Millionen Dollar im Vorjahresvergleich. Der Gewinn pro Aktie blieb im 4. Quartal stabil bei 0,33 Dollar, fiel jedoch für den sechsmonatigen Zeitraum auf 0,64 Dollar von 0,73 Dollar.
Wichtige Finanzkennzahlen zeigen eine gemischte Performance: Die nicht leistungsfähigen Vermögenswerte blieben stabil bei 0,30 % der Gesamtvermögenswerte, die Gesamtvermögenswerte sanken um 4,7 % auf 607,8 Millionen Dollar, und die Nettokredite verringerten sich um 2,6 % auf 458,7 Millionen Dollar. Die Nettomarge der Zinsen des Unternehmens verringerte sich leicht auf 3,12 % im 4. Quartal 2024 von 3,14 % im 4. Quartal 2023, während die sechsmonatige Nettomarge der Zinsen auf 3,06 % von 3,26 % sank.
Die Gesamteinlagen fielen um 4,8 % auf 546,5 Millionen Dollar, mit signifikanten Änderungen in der Einlagenzusammensetzung, einschließlich eines Rückgangs von 14,3 % bei Einlagenzertifikaten und einem Anstieg von 21,7 % bei Spareinlagen.
- Slight increase in quarterly net income to $1.02M from $1.00M year-over-year
- Non-interest expense decreased by $413,000 (9.7%) in Q4
- Non-interest income increased by $351,000 (256.2%) in Q4
- Stable nonperforming assets ratio at 0.30% of total assets
- Six-month net income declined to $2.0M from $2.2M year-over-year
- Net interest margin decreased to 3.06% from 3.26% for six-month period
- Total assets decreased by 4.7% to $607.8M
- Total deposits declined by 4.8% to $546.5M
- Net loans receivable decreased by 2.6% to $458.7M
Insights
The Q2 FY2025 results reveal a complex operating environment for Home Federal Bancorp. While quarterly earnings showed marginal improvement of
The deposit composition underwent significant shifts, with certificates of deposit declining by
The efficiency improvements are noteworthy, with non-interest expenses decreasing by
- Franchise and bank shares tax (
163,000 ) - Compensation and benefits (
99,000 ) - Professional and audit fees (
133,000 )
Asset quality remains robust with non-performing assets at
However, the declining interest rate spread (2.40% vs 2.45% YoY) and compressed net interest margin (3.12% vs 3.14%) signal ongoing profitability pressures. The
Shreveport, La, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (Nasdaq: HFBL), the holding company of Home Federal Bank, reported net income for the three months ended December 31, 2024, of
The Company reported the following highlights during the six months ended December 31, 2024:
- Nonperforming assets totaled
$1.8 million , or0.30% of total assets at December 31, 2024 compared to$1.9 million , or0.30% of total assets, at June 30, 2024. - There were no advances from the FHLB at December 31, 2024 or June 30, 2024.
- Other borrowings totaled
$4.0 million at December 31, 2024 compared to$7.0 million at June 30, 2024.
The increase in net income for the three months ended December 31, 2024, as compared to the same period in 2023 resulted primarily from a decrease of
The decrease in net income for the six months ended December 31, 2024, as compared to the same period in 2023 resulted primarily from a decrease of
The following tables set forth the Company’s average balances and average yields earned and rates paid on its interest-earning assets and interest-bearing liabilities for the periods indicated.
| For the Three Months Ended December 31, | ||||||||||||||||
| 2024 | 2023 | |||||||||||||||
| Average Balance | Average Yield/Rate | Average Balance | Average Yield/Rate | |||||||||||||
| (Dollars in thousands) | ||||||||||||||||
| Interest-earning assets: | ||||||||||||||||
| Loans receivable | $ | 457,553 | 5.89 | % | $ | 507,844 | 5.78 | % | ||||||||
| Investment securities | 96,715 | 2.19 | 109,485 | 2.43 | ||||||||||||
| Interest-earning deposits | 29,653 | 4.47 | 1,751 | 2.95 | ||||||||||||
| Total interest-earning assets | $ | 583,921 | 5.20 | % | $ | 619,080 | 5.18 | % | ||||||||
| Interest-bearing liabilities: | ||||||||||||||||
| Savings accounts | $ | 90,696 | 1.71 | % | $ | 73,228 | 0.40 | % | ||||||||
| NOW accounts | 70,685 | 1.26 | 65,252 | 0.43 | ||||||||||||
| Money market accounts | 79,365 | 2.21 | 95,763 | 2.49 | ||||||||||||
| Certificates of deposit | 188,929 | 4.03 | 212,792 | 4.01 | ||||||||||||
| Total interest-bearing deposits | 429,675 | 2.75 | 447,035 | 2.57 | ||||||||||||
| Other bank borrowings | 4,489 | 7.16 | 9,202 | 8.58 | ||||||||||||
| FHLB advances | - | - | 5,379 | 5.75 | ||||||||||||
| Total interest-bearing liabilities | $ | 434,164 | 2.80 | % | $ | 461,616 | 2.73 | % | ||||||||
| For the Six Months Ended December 31, | ||||||||||||||||
| 2024 | 2023 | |||||||||||||||
| Average Balance | Average Yield/Rate | Average Balance | Average Yield/Rate | |||||||||||||
| (Dollars in thousands) | ||||||||||||||||
| Interest-earning assets: | ||||||||||||||||
| Loans receivable | $ | 461,531 | 5.88 | % | $ | 503,043 | 5.79 | % | ||||||||
| Investment securities | 96,732 | 2.14 | 111,535 | 2.46 | ||||||||||||
| Interest-earning deposits | 27,635 | 4.81 | 5,843 | 3.43 | ||||||||||||
| Total interest-earning assets | $ | 585,898 | 5.21 | % | $ | 620,421 | 5.16 | % | ||||||||
| Interest-bearing liabilities: | ||||||||||||||||
| Savings accounts | $ | 86,626 | 1.66 | % | $ | 75,900 | 0.39 | % | ||||||||
| NOW accounts | 71,736 | 1.18 | 66,639 | 0.41 | ||||||||||||
| Money market accounts | 77,290 | 2.29 | 102,327 | 2.37 | ||||||||||||
| Certificates of deposit | 196,443 | 4.17 | 203,779 | 3.88 | ||||||||||||
| Total interest-bearing deposits | 432,095 | 2.83 | 448,645 | 2.43 | ||||||||||||
| Other bank borrowings | 5,239 | 7.50 | 8,928 | 8.47 | ||||||||||||
| FHLB advances | - | - | 3,259 | 5.66 | ||||||||||||
| Total interest-bearing liabilities | $ | 437,334 | 2.89 | % | $ | 460,832 | 2.57 | % | ||||||||
The
The
Total assets decreased
Total liabilities decreased
At December 31, 2024, the Company had
Shareholders’ equity increased
Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its ten full-service banking offices and home office in northwest Louisiana.
Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe”, “expect”, “anticipate”, “estimate”, and “intend”, or future or conditional verbs such as “will”, “would”, “should”, “could”, or “may”. We undertake no obligation to update any forward-looking statements.
In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Company’s loans, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.
| HOME FEDERAL BANCORP, INC. OF LOUISIANA |
| CONSOLIDATED BALANCE SHEETS (In thousands except share and per share data) |
| December 31, 2024 | June 30, 2024 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of | $ | 19,540 | $ | 34,948 | ||||
| Securities Available-for-Sale (amortized cost December 31, 2024: | 29,607 | 27,037 | ||||||
| Securities Held-to-Maturity (fair value December 31, 2024: | 64,431 | 67,302 | ||||||
| Other Securities | 1,651 | 1,614 | ||||||
| Loans Held-for-Sale | 216 | 1,733 | ||||||
| Loans Receivable, Net of Allowance for Credit Losses (December 31, 2024: | 458,693 | 470,852 | ||||||
| Accrued Interest Receivable | 1,787 | 1,775 | ||||||
| Premises and Equipment, Net | 17,844 | 18,303 | ||||||
| Bank Owned Life Insurance | 6,868 | 6,810 | ||||||
| Goodwill | 2,990 | 2,990 | ||||||
| Core Deposit Intangible | 1,053 | 1,199 | ||||||
| Deferred Tax Asset | 1,538 | 1,181 | ||||||
| Real Estate Owned | - | 418 | ||||||
| Other Assets | 1,545 | 1,350 | ||||||
| Total Assets | $ | 607,763 | $ | 637,512 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| LIABILITIES | ||||||||
| Deposits: | ||||||||
| Non-interest bearing | $ | 128,439 | $ | 130,334 | ||||
| Interest-bearing | 418,105 | 443,673 | ||||||
| Total Deposits | 546,544 | 574,007 | ||||||
| Advances from Borrowers for Taxes and Insurance | 269 | 521 | ||||||
| Other Borrowings | 4,000 | 7,000 | ||||||
| Other Accrued Expenses and Liabilities | 3,017 | 3,181 | ||||||
| Total Liabilities | 553,830 | 584,709 | ||||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Preferred Stock - | - | - | ||||||
| Common Stock - | 32 | 32 | ||||||
| Additional Paid-in Capital | 42,010 | 41,739 | ||||||
| Unearned ESOP Stock | (350 | ) | (408 | ) | ||||
| Retained Earnings | 14,866 | 14,055 | ||||||
| Accumulated Other Comprehensive Loss | (2,625 | ) | (2,615 | ) | ||||
| Total Shareholders’ Equity | 53,933 | 52,803 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 607,763 | $ | 637,512 | ||||
| HOME FEDERAL BANCORP, INC. OF LOUISIANA CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) |
| (Unaudited) |
| Three Months Ended | Six Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Interest income | ||||||||||||||||
| Loans, including fees | $ | 6,791 | $ | 7,397 | $ | 13,686 | $ | 14,671 | ||||||||
| Investment securities | 63 | 210 | 130 | 449 | ||||||||||||
| Mortgage-backed securities | 470 | 460 | 913 | 933 | ||||||||||||
| Other interest-earning assets | 334 | 13 | 670 | 101 | ||||||||||||
| Total interest income | 7,658 | 8,080 | 15,399 | 16,154 | ||||||||||||
| Interest expense | ||||||||||||||||
| Deposits | 2,977 | 2,901 | 6,175 | 5,494 | ||||||||||||
| Federal Home Loan Bank borrowings | - | 78 | - | 93 | ||||||||||||
| Other bank borrowings | 81 | 198 | 198 | 381 | ||||||||||||
| Total interest expense | 3,058 | 3,177 | 6,373 | 5,968 | ||||||||||||
| Net interest income | 4,600 | 4,903 | 9,026 | 10,186 | ||||||||||||
| Provision for (recovery of) credit losses | 45 | (16 | ) | (178 | ) | (16 | ) | |||||||||
| Net interest income after provision for credit losses | 4,555 | 4,919 | 9,204 | 10,202 | ||||||||||||
| Non-interest income | ||||||||||||||||
| Loss on sale of real estate | (12 | ) | (381 | ) | (266 | ) | (415 | ) | ||||||||
| Gain on sale of loans | 5 | 76 | 101 | 115 | ||||||||||||
| Loss on sale of securities | (6 | ) | - | (6 | ) | - | ||||||||||
| Income on Bank-Owned Life Insurance | 30 | 28 | 58 | 54 | ||||||||||||
| Service charges on deposit accounts | 392 | 397 | 783 | 788 | ||||||||||||
| Other income | 79 | 17 | 118 | 30 | ||||||||||||
| Total non-interest income | 488 | 137 | 788 | 572 | ||||||||||||
| Non-interest expense | ||||||||||||||||
| Compensation and benefits | 2,229 | 2,328 | 4,531 | 4,684 | ||||||||||||
| Occupancy and equipment | 537 | 544 | 1,101 | 1,092 | ||||||||||||
| Data processing | 336 | 129 | 554 | 374 | ||||||||||||
| Audit and examination fees | 191 | 271 | 323 | 373 | ||||||||||||
| Franchise and bank shares tax | 1 | 164 | 169 | 320 | ||||||||||||
| Advertising | 44 | 82 | 101 | 225 | ||||||||||||
| Legal fees | 134 | 187 | 251 | 347 | ||||||||||||
| Loan and collection | 30 | 32 | 58 | 92 | ||||||||||||
| Amortization Core Deposit Intangible | 72 | 85 | 146 | 179 | ||||||||||||
| Deposit insurance premium | 75 | 108 | 165 | 199 | ||||||||||||
| Other expenses | 187 | 319 | 447 | 552 | ||||||||||||
| Total non-interest expense | 3,836 | 4,249 | 7,846 | 8,437 | ||||||||||||
| Income before income taxes | 1,207 | 807 | 2,146 | 2,337 | ||||||||||||
| Provision for income tax expense (benefit) | 187 | (196 | ) | 185 | 114 | |||||||||||
| NET INCOME | $ | 1,020 | $ | 1,003 | $ | 1,961 | $ | 2,223 | ||||||||
| EARNINGS PER SHARE | ||||||||||||||||
| Basic | $ | 0.33 | $ | 0.33 | $ | 0.64 | $ | 0.73 | ||||||||
| Diluted | $ | 0.33 | $ | 0.33 | $ | 0.64 | $ | 0.72 | ||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Selected Operating Ratios(1): | ||||||||||||||||
| Average interest rate spread | 2.40 | % | 2.45 | % | 2.32 | % | 2.60 | % | ||||||||
| Net interest margin | 3.12 | % | 3.14 | % | 3.06 | % | 3.26 | % | ||||||||
| Return on average assets | 0.65 | % | 0.60 | % | 0.62 | % | 0.67 | % | ||||||||
| Return on average equity | 7.76 | % | 7.81 | % | 7.50 | % | 8.64 | % | ||||||||
| Asset Quality Ratios(2): | ||||||||||||||||
| Non-performing assets as a percent of total assets | 0.30 | % | 0.34 | % | 0.30 | % | 0.34 | % | ||||||||
| Allowance for credit losses as a percent of non-performing loans | 260.70 | % | 226.50 | % | 260.70 | % | 226.50 | % | ||||||||
| Allowance for credit losses as a percent of total loans receivable | 1.02 | % | 1.00 | % | 1.02 | % | 1.00 | % | ||||||||
| Per Share Data: | ||||||||||||||||
| Shares outstanding at period end | 3,132,764 | 3,143,532 | 3,132,764 | 3,143,532 | ||||||||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic | 3,059,305 | 3,040,006 | 3,062,666 | 3,033,341 | ||||||||||||
| Diluted | 3,075,221 | 3,085,271 | 3,077,371 | 3,096,546 | ||||||||||||
| Book value per share at period end | $ | 17.22 | $ | 16.73 | $ | 17.22 | $ | 16.73 | ||||||||
| _____________________ | ||||||||||||||||
| (1) Ratios for the three and six month periods are annualized. | ||||||||||||||||
| (2) Asset quality ratios are end of period ratios. | ||||||||||||||||
FAQ
What was HFBL's net income for Q4 2024 compared to Q4 2023?
How did HFBL's total assets change in December 2024?
What was HFBL's net interest margin for the six months ended December 2024?
How did HFBL's deposit base change in December 2024?
What was HFBL's nonperforming assets ratio in December 2024?
