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, Inc. of Louisiana (NASDAQ: HFBL) declared a quarterly cash dividend of $0.12 per share on October 19, 2022. This dividend is payable on November 14, 2022, to shareholders on record as of October 31, 2022. The company operates nine full-service banking offices in northwest Louisiana, providing a range of financial services.
Investors can look forward to this cash dividend, reflecting the company’s commitment to return value to its shareholders.
Home Federal Bancorp (HFBL) has announced a definitive merger agreement to acquire Northwest Bancshares for an estimated total consideration of $10.1 million. Shareholders of Northwest Bancshares will receive a cash distribution totaling approximately $8.4 million prior to the merger's closing. This acquisition aims to enhance Home Federal's market presence in Bossier Parish and broaden its product offerings. The merger is projected to be over 20% accretive to earnings per share once fully realized, with a solid capital position post-merger.
Home Federal Bancorp, Inc. of Louisiana (Nasdaq: HFBL) reported a net income of $1.1 million for Q2 2022, down from $1.3 million in Q2 2021. Earnings per share (EPS) also declined to $0.33 from $0.40 year-over-year. Annual net income was $4.9 million, a decrease from $5.4 million. Total deposits rose by 5.0% to $532 million, while core loans increased by 26.9% to $391.7 million. A notable drop in non-interest income was attributed to lower loan sales, despite a rise in net interest income. The provision for loan losses decreased, reflecting improved credit quality.
On July 21, 2022, Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) declared a quarterly cash dividend of $0.12 per share, marking a 20% increase. This dividend will be paid on August 15, 2022 to shareholders recorded by the close of business on August 1. This increase represents the ninth annual increase and the 69th consecutive quarterly dividend. The payout ratio stands at approximately 32%, reflecting the company's commitment to shareholder value and confidence in its financial stability.
Home Federal Bancorp (Nasdaq: HFBL) reported a net income of $1.3 million for Q1 2022, down from $1.4 million in Q1 2021. Earnings per share decreased to $0.39 from $0.44. For the nine months ending March 31, 2022, net income was $3.8 million, compared to $4.1 million the previous year. Total deposits rose by $10.3 million (2.0%) to $516.9 million. However, time deposits declined by 27.1%. The company reported a strong commercial loan pipeline despite economic challenges, and a significant decrease in provisions for loan losses, indicating improved credit quality.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) announced a quarterly cash dividend of $0.10 per share, to be paid on May 16, 2022, to shareholders of record by the close of business on May 2, 2022. This dividend reflects the company's ongoing commitment to returning value to shareholders. Home Federal Bancorp operates nine full-service banking offices in northwest Louisiana, providing a range of financial services.
Home Federal Bank (HFBL) has appointed Delayne Lewis as its first Chief Risk Officer. This move underscores the bank's commitment to enhancing its risk and compliance management amid an uncertain economic climate. Lewis, who has 10 years of experience at HFB and 40 years in community banking, holds a Certified Regulatory Compliance Manager certification. Her role will be pivotal in identifying, assessing, and managing risks within the bank, furthering its operational stability and success.
Home Federal Bancorp announced a new stock repurchase program on February 16, 2022, authorizing the buyback of up to 170,000 shares, or about 5.0% of its outstanding common stock. This program, which can be executed in open market or privately negotiated transactions, does not have a specified expiration date. The initiative aims to enhance shareholder value and reflects the company's commitment to returning capital to its investors.
Home Federal Bancorp, Inc. (Nasdaq: HFBL) announced a net income of $1.2 million for Q4 2021, down from $1.4 million in Q4 2020. Earnings per share were $0.36, compared to $0.44 the prior year. For the first half of 2021, net income totaled $2.5 million, a decrease from $2.7 million in 2020. Total deposits rose 1.1% to $512.2 million, but time deposits dropped 22.6% to $84.4 million. Gross loans increased 7.5% to $354.6 million. The provision for loan losses decreased significantly to $61,000 from $1.3 million, reflecting improved credit quality.
Home Federal Bancorp (NASDAQ: HFBL) announced a quarterly cash dividend of $0.10 per share on January 19, 2022. The dividend is set for payment on February 14, 2022, to shareholders on record by January 31, 2022. This reflects the company's commitment to shareholder returns amidst its operations from nine full-service banking offices in northwest Louisiana.
FAQ
What is the current stock price of Home Federal Bancorp of Louisiana (HFBL)?
What is the market cap of Home Federal Bancorp of Louisiana (HFBL)?
What types of financial services does Home Federal Bancorp, Inc. of Louisiana provide?
How has Home Federal Bancorp's financial performance been recently?
What is the CECL methodology adopted by Home Federal Bancorp?
What significant acquisitions has Home Federal Bancorp made recently?
How frequently does Home Federal Bancorp pay dividends?
What are the main sources of Home Federal Bancorp's income?
What changes have occurred in Home Federal Bancorp's shareholder equity?
What impact did the acquisition of First National Bank of Benton have?
How does Home Federal Bancorp manage its loan portfolio?
What recent financial highlights have Home Federal Bancorp reported?
