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Overview
Hmn Finan (HMNF) is a comprehensive, full-service community banking institution that combines a traditional hometown feel with modern financial services. As a member of the FDIC and an equal housing lender, the company safeguards its clients' assets and upholds industry best practices. Its business model centers on offering a wide spectrum of services, including personal checking and savings accounts, mortgages, consumer loans, as well as business, commercial, and investment banking solutions. Integrated with industry-specific practices of community banking and full-service financial management, Hmn Finan caters to both individual consumers and enterprises seeking reliable, locally embedded financial expertise.
Community Presence and Network
Deeply invested in the communities it serves, Hmn Finan maintains an extensive branch network across southeastern Minnesota and parts of neighboring regions. With locations in key cities and towns such as Rochester, Austin, Albert Lea, Kasson, La Crescent, Winona, and Spring Valley, along with branches in the Twin Cities metro area and select offices extending into Iowa and Wisconsin, the bank has positioned itself as a pivotal community resource. This extensive presence fosters strong local relationships, allowing the institution to tailor its services to the specific needs of its diverse clientele.
Service Portfolio and Business Model
The company generates revenue through a multifaceted business model that includes traditional deposit-based services and a range of lending products. Its offerings cover:
- Personal Banking: Checking and savings accounts, consumer loans, and mortgage products designed with the individual customer in mind.
- Business and Commercial Banking: Financial solutions customized for small to medium-sized enterprises, including business loans and commercial banking services.
- Investment Banking: Specialized advisory and investment services that support both individual and corporate clients in achieving their financial goals.
Competitive Position and Industry Dynamics
Within the competitive landscape of regional banks and community-focused financial institutions, Hmn Finan distinguishes itself by leveraging its deep local roots and comprehensive service offerings. Unlike larger, impersonal financial conglomerates, the bank’s community-driven ethos enables it to provide personalized client services and local decision-making processes. Moreover, its ability to integrate traditional banking with modern financial technologies supports a seamless experience across both personal and business finance domains.
Expertise, Trustworthiness, and Operational Excellence
Hmn Finan upholds strict regulatory standards and employs industry expertise to offer robust financial solutions. Its commitment to transparency, compliance, and community service enhances the trust it has built with its customers. The institution's strategic focus on maintaining a balanced portfolio of services—ranging from everyday banking activities to specialized financial advisory—underscores its authority in the domain of community banking. This positions Hmn Finan as a reliable and knowledgeable institution that consistently supports its customers through comprehensive financial strategies.
Integrated Financial Solutions for Diverse Clientele
The bank is not merely a provider of transactional banking services, but also a consultant that guides its customers through complex financial decisions. By offering tailored products that meet the unique needs of individuals and businesses, Hmn Finan plays a crucial role in local economic development. Its service model is built upon a foundation of technical expertise and an intimate understanding of the regional market dynamics, which is reflected in its careful approach to loan production, diversified deposit products, and strategic commercial financial services.
Summary
In summary, Hmn Finan (HMNF) is a multifaceted banking institution characterized by its deep community ties, diversified service portfolio, and adherence to rigorous financial standards. Its operational excellence and client-centric approach enable it to deliver both personal and commercial financial solutions with consistent reliability. For investors and customers alike, the bank represents a stable and informed choice in the dynamic world of regional banking.
ROCHESTER, Minn., April 26, 2023 (GLOBE NEWSWIRE) -- HMN Financial, Inc. (HMNF) declared a quarterly dividend of $0.08 per share, payable on June 7, 2023, to shareholders recorded by May 17, 2023. The dividend's future declaration and amount will rely on the Board of Directors’ discretion, considering factors like operational results, financial health, capital needs, and regulatory requirements. HMN operates through Home Federal Savings Bank, with twelve branches in Minnesota and additional offices in Iowa and Wisconsin, reflecting its operational reach and community engagement.
HMN Financial, Inc. (HMNF) reported a net income of $1.6 million for Q1 2023, up from $1.5 million in the same quarter of 2022. Diluted earnings per share increased to $0.37, a rise of $0.03 year-over-year. This growth is attributed to an increase in net interest income of $0.8 million, totaling $8.1 million, due to higher interest-earning assets and yields. Net interest margin improved by 15 basis points to 3.09%. The provision for credit losses decreased by $0.3 million, with overall non-performing assets stable at $1.9 million. However, non-interest income fell to $1.9 million, a decline of 18.8% from last year, primarily due to reduced loan sales. Total non-interest expenses increased by $0.4 million to $7.7 million.
HMN Financial, Inc. (HMNF) reported a net income of $2.4 million for Q4 2022, up from $2.0 million in Q4 2021. Diluted EPS rose to $0.56, an increase of $0.11. Net interest income increased by 26.6% to $8.9 million, attributed to higher yields on interest-earning assets. However, annual net income decreased by $5.6 million to $8.0 million, and diluted EPS fell by $1.18 to $1.83. A notable decrease in loan sales and an increase in the provision for loan losses were highlighted. The company announced a 6 cents dividend per share, payable on March 8, 2023.
HMN Financial, Inc. (HMNF) has announced a quarterly dividend of $0.06 per share, payable on December 6, 2022. Stockholders on record as of November 15, 2022 will receive this dividend. The decision for future dividends will rely on various factors including the company's financial performance and capital needs.
Headquartered in Rochester, Minnesota, HMN operates through Home Federal Savings Bank, with several branch locations across Minnesota, Iowa, and Wisconsin.
HMN Financial reported a net income of $1.8 million for Q3 2022, a decline from $3.6 million in Q3 2021. Diluted earnings per share dropped to $0.42 from $0.81 year-over-year. The provision for loan losses increased by $1.5 million to $0.6 million, attributed to loan growth and rising inflation concerns. Net interest income rose 3.1% to $8.3 million, but the net interest margin fell to 3.13% from 3.32%. Year-to-date, net income stood at $5.6 million, down 51.5% from $11.6 million in 2021, primarily due to increased loan loss provisions and lower loan sales.
On July 27, 2022, HMN Financial, Inc. (HMNF) announced a quarterly dividend of $0.06 per share, payable on September 7, 2022, to stockholders of record on August 16, 2022. The future dividend declarations will be at the discretion of the Board of Directors, influenced by factors like financial condition and operational results. HMN is headquartered in Rochester, Minnesota, operating 12 full-service offices in Minnesota, one in Iowa, and one in Wisconsin, along with two loan origination offices.
HMN Financial, Inc. (HMNF) reported a net income of $2.3 million for Q2 2022, down from $4.5 million a year earlier. Diluted EPS fell to $0.52 from $1.00. The decrease in income was primarily due to a $1.4 million drop in non-interest income, largely from reduced gains on real estate sales. Loan loss provisions increased by $1.0 million. Net interest income rose slightly to $7.8 million, but net interest margin fell to 3.10% from 3.27%. Year-to-date net income declined to $3.8 million, down 52.5% from $7.9 million in 2021.
HMN Financial has declared a quarterly dividend of $0.06 per share, payable on June 7, 2022, to shareholders of record by May 17, 2022. The Board's future dividend declarations will depend on various factors including financial performance and capital needs. Additionally, Wendy S. Shannon and Hans K. Zietlow were re-elected as directors, and Jeffrey W. Bolton has been appointed to the Board. Bolton brings extensive experience in financial management and regulatory compliance, enhancing the board's expertise.
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