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Last $12.10 USD
Change Today -0.04 / -0.33%
Volume 2.7K
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

hmn financial inc (HMNF) Key Developments

HMN Financial Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

HMN Financial Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, net interest income was $4,761,000 against $4,766,000 a year ago. Income before income tax expense was $2,845,000 against $3,452,000 a year ago. Net income for common shareholders was $1,385,000 or $0.30 per diluted share against $17,574,000 or $3.93 per diluted share a year ago. Return on average assets (annualized) for the fourth quarter of 2014 was 1.13%, compared to 12.23% for the fourth quarter of 2013. Return on average equity (annualized) was 8.74% for the fourth quarter of 2014, compared to 106.72% for the same period of 2013.  For the year, net interest income was $19,402,000 against $19,694,000 a year ago. Income before income tax expense was $12,281,000 against $12,264,000 a year ago. Net income for common shareholders was $5,669,000 or $1.23 per diluted share against $24,602,000 or $5.71 per diluted share a year ago. Return on average assets (annualized) for 2014 was 1.21%, compared to 4.55% for 2013. Return on average equity (annualized) was 9.12% for 2014, compared to 42.22% for the same period of 2013. Book value per common share at December 31, 2014 was $14.77, compared to $13.49 at December 31, 2013.

HMN Financial Inc. to Report Q4, 2014 Results on Jan 27, 2015

HMN Financial Inc. announced that they will report Q4, 2014 results After-Market on Jan 27, 2015

HMN Financial Declares Dividend on Outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Payable on February 17, 2015

On January 8, 2015, HMN Financial Inc. announced that its Board of Directors declared a dividend of $22.50 per share on the company's outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A, which were originally issued by HMN to the U.S. Treasury through the Capital Purchase Program established under the Troubled Asset Relief Program. The amount of the dividend represents all accrued and unpaid dividends on the Preferred Stock for the dividend period ending on February 14, 2015. The dividend will be payable on February 17, 2015 to holders of record of the Preferred Stock on January 6, 2015.

HMN Financial Inc. Enters Loan Agreement with Project Hawkeye, L.L.C

On December 15, 2014, HMN Financial Inc. entered into a Loan Agreement with Project Hawkeye, L.L.C. (the Lender"), providing for a term loan of up to $10 million that will be evidenced by a promissory note (the Note"). The Company may draw the loan on or before March 31, 2015. The principal balance of the Note will bear interest from the date the loan is made until the date the loan is repaid at the rate of 6.5% per annum. The principal balance of the Note will be payable in consecutive equal annual installments of $1 million on each anniversary of the date of the Loan Agreement, commencing on December 15, 2015, with the balance due on the maturity date. The maturity date will be on the earlier of (a) the anniversary of the date of the Loan Agreement obtained by dividing the original principal amount of the loan by $1 million (rounded up to the nearest number of whole years) and (b) the seventh anniversary of the date of the Loan Agreement. Provided that no default or event of default has occurred and is continuing, the Company may, at its option, elect to defer payment of one installment of principal of the Note otherwise due prior to the maturity date, in which event such installment will become due and payable on the maturity date. The Company may voluntarily prepay the Note in whole or in part without payment or penalty.

HMN Financial Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

HMN Financial Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net interest income was $4.834 million against $5.325 million a year ago. Income before income tax expense was $2.592 million against $6.192 million a year ago. Net income for common shareholders was $1.178 million or $0.25 per diluted share against $5.511 million or $1.27 per diluted share a year ago. Return on average assets (annualized) was 1.01% against 4.44% a year ago. Return on average equity (annualized) was 7.89% against 38.17% a year ago. For the nine months, net interest income was $14.641 million against $14.928 million a year ago. Income before income tax expense was $9.436 million against $8.812 million a year ago. Net income for common shareholders was $4.283 million or $0.93 per diluted share against $7.028 million or $1.65 per diluted share a year ago. Return on average assets (annualized) was 1.24% against 1.96% a year ago. Return on average equity (annualized) was 9.24% against 18.55% a year ago. Book value per common share was $14.45 against $9.47 a year ago.

 

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Industry Analysis

HMNF

Industry Average

Valuation HMNF Industry Range
Price/Earnings 9.9x
Price/Sales 1.5x
Price/Book 0.8x
Price/Cash Flow 7.3x
TEV/Sales NM Not Meaningful
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