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 June 30, 2019 of $1.2 million,
which was substantially consistent with net income for the
three months ended June 30, 2018. The Company’s basic and diluted
earnings per share were $0.66 and $0.62, respectively, for the
three months ended June 30, 2019 compared to basic and diluted
earnings per share of $0.66 and $0.61, respectively, for the three
months ended June 30, 2018. The Company reported net income of $4.7
million for the year ended June 30, 2019 compared to $3.6 million
for the year ended June 30, 2018. The Company’s basic and diluted
earnings per share were $2.68 and $2.50, respectively, for the year
ended June 30, 2019 compared to $1.98 and $1.87, respectively, for
the year ended June 30, 2018. The increase in net income for the
year ended June 30, 2019 as compared to the prior year reflected in
part the effect of the one-time non-cash charge in the quarter
ended December 31, 2017, related to the re-measurement of the
Company's deferred tax assets arising from the lower U.S. corporate
tax rate provided for by the Tax Cuts and Jobs Act (the “Tax Act”)
enacted in December 2017 combined with a reduction in the Company’s
effective tax rate for the year ended June 30, 2019. The
non-recurring deferred tax adjustment was $642,000 for the year
ended June 30, 2018 representing $0.35 diluted earnings per share.
The Company reported the following key achievements
during fiscal 2019:
- Total deposits increased $27.9 million or 7.7% to $388.2
million at year end.
- Total assets increased $20.8 million or 4.9% to $442.5 million
at year end.
- Total equity increased $3.3 million or 7.0% to $50.3 million at
year end.
- Opened new Pierremont Banking Center in Shreveport in March
2019.
The $16,000 decrease in net income for the three months ended
June 30, 2019 resulted primarily from a decrease of $138,000, or
3.6%, in net interest income, and a $67,000, or 2.4%, increase in
non-interest expense, partially offset by a decrease of $113,000,
or 27.4%, in provision for income taxes, a decrease of $50,000, or
25.0%, in provision for loan losses and a $26,000, or 3.4%,
increase in non-interest income. The decrease in net interest
income for the three months ended June 30, 2019 was due to a
$365,000, or 39.4%, increase in total interest expense, partially
offset by an increase of $227,000, or 4.8%, in total interest
income, primarily due to an increase in the average volume of
deposits. The Company’s average interest rate spread was 3.24% for
the three months ended June 30, 2019 compared to 3.63% for the
three months ended June 30, 2018. The Company’s net interest margin
was 3.56% for the three months ended June 30, 2019 compared to
3.86% for the three months ended June 30, 2018. The decrease in net
interest margin on a comparative quarterly basis was primarily the
result of an increase of 44 basis points in average cost on average
balances of interest-bearing deposits combined with a $27.1 million
increase in average balance of interest-bearing deposits for the
three months ended June 30, 2019 compared to the prior year.
The increase in net income for the year ended June 30, 2019
resulted primarily from a decrease of $969,000, or 43.0%, in the
provision for income taxes, a $450,000, or 42.9%, decrease in the
provision for loan losses, and an increase of $386,000, or 2.6%, in
net interest income partially offset by a decrease of $604,000, or
20.2%, in non-interest income and a $26,000, or 0.2%, increase in
non-interest expense. The decrease in the provision for income
taxes for the year ended June 30, 2019 over the prior year was
primarily due to the $642,000 re-measurement charge of the
Company’s net deferred tax asset in the quarter ended December 31,
2017, as a result of the Tax Act signed into law on December 22,
2017, combined with a reduction in the Company’s effective tax rate
for the year ended June 30, 2019, also as a result of the Tax Act.
The increase in net interest income for the year was due to a $1.4
million, or 7.7%, increase in total interest income, partially
offset by a $1.0 million, or 29.7%, increase in interest expense on
borrowings and deposits. The Company’s average interest rate spread
was 3.50% for the year ended June 30, 2019 compared to 3.58% for
the year ended June 30, 2018. The Company’s net interest margin was
3.78% for the year ended June 30, 2019 compared to 3.80% for the
year ended June 30, 2018. The decrease in the average
interest rate spread and net interest margin was attributable
primarily to an increase of 30 basis points in average rate on
interest bearing liabilities for the year ended June 30, 2019
compared to the prior year.
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 June 30, |
|
2019 |
|
2018 |
|
Average |
|
Average |
|
Average |
|
Average |
|
Balance |
|
Yield/Rate |
|
Balance |
|
Yield/Rate |
|
(Dollars in thousands) |
Interest-earning assets: |
|
|
|
|
|
|
|
Loans receivable |
$ |
329,800 |
|
5.43 |
% |
|
$ |
322,884 |
|
5.42 |
% |
Investment securities |
|
67,886 |
|
2.38 |
|
|
|
59,967 |
|
2.11 |
|
Interest-earning deposits |
|
16,297 |
|
2.34 |
|
|
|
12,710 |
|
1.80 |
|
Total interest-earning assets |
$ |
413,983 |
|
4.81 |
% |
|
$ |
395,561 |
|
4.80 |
% |
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
Savings accounts |
$ |
35,647 |
|
0.61 |
% |
|
$ |
35,738 |
|
0.53 |
% |
NOW accounts |
|
30,705 |
|
0.57 |
|
|
|
35,692 |
|
0.47 |
|
Money market accounts |
|
76,322 |
|
1.21 |
|
|
|
68,996 |
|
0.78 |
|
Certificates of deposit |
|
186,344 |
|
2.03 |
|
|
|
161,457 |
|
1.52 |
|
Total interest-bearing deposits |
|
329,018 |
|
1.55 |
|
|
|
301,883 |
|
1.11 |
|
Other bank borrowings |
|
234 |
|
5.13 |
|
|
|
-- |
|
-- |
|
FHLB advances |
|
1,280 |
|
5.02 |
|
|
|
16,439 |
|
2.27 |
|
Total interest-bearing liabilities |
$ |
330,532 |
|
1.57 |
% |
|
$ |
318,322 |
|
1.17 |
% |
|
|
|
|
|
|
|
|
|
For the Year Ended June 30, |
|
2019 |
|
2018 |
|
Average |
|
Average |
|
Average |
|
Average |
|
Balance |
|
Yield/Rate |
|
Balance |
|
Yield/Rate |
|
(Dollars in thousands) |
Interest-earning assets: |
|
|
|
|
|
|
|
Loans receivable |
$ |
326,994 |
|
5.52 |
% |
|
$ |
323,692 |
|
5.28 |
% |
Investment securities |
|
63,029 |
|
2.32 |
|
|
|
59,948 |
|
1.96 |
|
Interest-earning deposits |
|
14,613 |
|
2.24 |
|
|
|
9,289 |
|
1.52 |
|
Total interest-earning assets |
$ |
404,636 |
|
4.90 |
% |
|
$ |
392,929 |
|
4.69 |
% |
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
Savings accounts |
$ |
35,449 |
|
0.55 |
% |
|
$ |
36,323 |
|
0.53 |
% |
NOW accounts |
|
30,617 |
|
0.54 |
|
|
|
34,892 |
|
0.47 |
|
Money market accounts |
|
72,266 |
|
1.05 |
|
|
|
51,571 |
|
0.57 |
|
Certificates of deposit |
|
178,823 |
|
1.82 |
|
|
|
165,141 |
|
1.45 |
|
Total interest-bearing deposits |
|
317,155 |
|
1.38 |
|
|
|
287,927 |
|
1.06 |
|
Other bank borrowings |
|
172 |
|
5.23 |
|
|
|
89 |
|
4.49 |
|
FHLB advances |
|
4,697 |
|
3.04 |
|
|
|
27,242 |
|
1.63 |
|
Total interest-bearing liabilities |
$ |
322,024 |
|
1.41 |
% |
|
$ |
315,258 |
|
1.11 |
% |
The $26,000 increase in non-interest income for the three months
ended June 30, 2019 compared to the prior year quarterly period was
primarily due to increases of $40,000 in service charges on deposit
accounts, $37,000 in gain on sale of loans, and $1,000 on income
from bank owned life insurance partially offset by a decrease of
$52,000 in other income. The $604,000 decrease in non-interest
income for the year ended June 30, 2019, compared to the prior
year, was primarily due to an increase of $344,000 in loss on sale
of real estate, combined with decreases of $213,000 in gain on sale
of loans, $94,000 in gain on sale of securities, and $45,000
in other income partially offset by a $92,000 increase in service
charges on deposit accounts. The Company sells most of its long
term fixed rate residential mortgage loan originations primarily in
order to manage interest rate risk. The decrease in gain on sale of
loans for the year ended June 30, 2019 over the prior year reflects
a reduced emphasis on the Company’s mortgage banking operations in
recent periods and fewer loans originated for sale.
The $67,000 increase in non-interest expense for the three
months ended June 30, 2019, compared to the same period in 2018, is
primarily attributable to increases of $63,000 in advertising
expense, $59,000 in occupancy and equipment expense, $17,000 in
loan and collection expense, $14,000 in other non-interest expense,
$8,000 in compensation and benefits expense, and $1,000 in
franchise and bank shares tax expense. The increases were partially
offset by decreases of $50,000 in legal fees, $36,000 in data
processing, $8,000 in audit and examination fees, and $1,000 in
deposit insurance premiums. The $26,000 increase in non-interest
expense for the year ended June 30, 2019, compared to the year
ended June 30, 2018, is primarily attributable to increases
of $177,000 in advertising expense, $63,000 in other non-interest
expense, $21,000 in loan and collection expense, and $14,000 in
occupancy and equipment expense partially offset by decreases of
$129,000 in data processing expense, $57,000 in compensation and
benefits expense, $37,000 in deposit insurance premiums, $13,000 in
audit and examination fees, and $13,000 in legal fees.
At June 30, 2019, the Company reported total assets of $442.5
million, an increase of $20.8 million, or 4.9%, compared to total
assets of $421.7 million at June 30, 2018. The increase in assets
was comprised primarily of increases in investment securities of
$8.8 million, or 15.1%, from $58.2 million at June 30, 2018 to
$67.0 million at June 30, 2019, loans receivable net of $6.6
million, or 2.1%, from $317.5 million at June 30, 2018 to $324.1
million at June 30, 2019, cash and cash equivalents of $2.2
million, or 14.1%, from $15.9 million at June 30, 2018 to $18.1
million at June 30, 2019, loans held-for-sale of $1.8
million, or 27.3%, from $6.8 million at June 30, 2018 to $8.6
million at June 30, 2019, premises and equipment, net of $1.4
million, or 10.7%, from $12.2 million at June 30, 2018 to $13.6
million at June 30, 2019, real estate owned of $189,000, or 16.1%,
from $1.2 million at June 30, 2018 to $1.4 million at June 30,
2019. These increases were partially offset by decreases in
deferred tax assets of $253,000, or 23.0%, from $1.1 million at
June 30, 2018 to $849,000 at June 30, 2019. The increase in
investment securities was primarily due to the purchase of $18.5
million of mortgage-backed securities offset by $11.0 million of
principal repayments on mortgage-backed securities. The increase in
real estate owned was due to the acquisition of two one-to-four
family residences totaling $886,000 offset by the sale of two
one-to-four family residences totaling $697,000.
Total liabilities increased $17.5 million, or 4.7%
from $374.6 million at June 30, 2018 to $392.1 million at June 30,
2019 primarily due to an increase in total deposits of $27.9
million, or 7.7%, to $388.2 million at June 30, 2019 compared to
$360.3 million at June 30, 2018, and other borrowings of $150,000,
or 50.0%, to $450,000 at June 30, 2019 compared to $300,000 at June
30, 2018, partially offset by a decrease of $10.3 million, or
88.4%, in advances from the Federal Home Loan Bank to $1.4
million at June 30, 2019 compared to $11.6 million at June 30,
2018, and a $274,000, or 11.3%, decrease in other liabilities to
$2.1 million at June 30, 2019 compared to $2.4 million at June 30,
2018. The increase in deposits was primarily due to a $22.0
million, or 13.6%, increase in certificates of deposits from $161.3
million at June 30, 2018 to $183.3 million at June 30, 2019, a $4.7
million, or 6.8%, increase in money market deposits from $70.2
million at June 30, 2018 to $74.9 million at June 30, 2019, a $3.3
million, or 9.2%, increase in savings deposits from $36.2 million
at June 30, 2018 to $39.5 million at June 30, 2019, and a $1.4
million, or 2.3%, increase in non-interest bearing demand deposits
from $58.0 million at June 30, 2018 to $59.4 million at June 30,
2019, partially offset by a decrease of $3.5 million, or 10.2%, in
interest bearing demand deposits from $34.5 million at June 30,
2018 to $31.0 million at June 30, 2019. At June 30, 2019, the
Company had $11.2 million in brokered deposits compared to $8.7
million at June 30, 2018. The increase in brokered deposits is due
to additional purchases during the year ended June 30, 2019. The
brokered certificates of deposit which have maturity dates greater
than twelve months are callable by Home Federal Bank after twelve
months pursuant to early redemption provisions. The decrease
in advances from the Federal Home Loan Bank was primarily due to
growth in total deposits which replaced advances as a source of
funds.
At June 30, 2019, the Company had $5.1 million of
non-performing assets (defined as non-accruing loans, accruing
loans 90 days or more past due, and other real estate owned)
compared to $3.0 million of non-performing assets at June 30, 2018,
consisting of two commercial business loans, five single-family
residential loans, two line of credit loans, one lot loan, one land
loan, one residential lot in other real estate owned, and two
single family residential loans in other real estate owned at June
30, 2019, compared to one commercial business loan, nine
single-family residential loans, three line of credit loans, one
residential lot in other real estate owned and two single family
residential loans in other real estate owned at June 30, 2018. At
June 30, 2019, the Company had four single family residential
loans, one line of credit loan, two commercial business loans, two
commercial land and lot development loans and five loans to one
borrower consisting of two commercial real estate loans, two
non-real estate loans, and one single family residential loan
classified as substandard, compared to eight single family
residential loans, two line of credit loans, one commercial
business loan to one borrower and five loans to one borrower
consisting of two commercial real estate loans, two non-real estate
loans and one single family residential loan classified as
substandard at June 30, 2018. There were no loans classified as
doubtful at June 30, 2019 or June 30, 2018.
Shareholders’ equity increased $3.3 million, or 7.0%, to $50.3
million at June 30, 2019 from $47.0 million at June 30, 2018.
The primary reasons for the changes in shareholders’ equity from
June 30, 2018 were net income of $4.7 million, the increase in the
Company’s accumulated other comprehensive income of $1.1 million,
the vesting of restricted stock awards, stock options, and the
release of employee stock ownership plan shares totaling $670,000,
and proceeds from the issuance of common stock from the exercise of
stock options of $325,000. These increases in shareholders’ equity
were partially offset by the acquisition of Company stock of $2.4
million, and dividends paid totaling $1.1 million.
The Company repurchased 76,217 shares of its common stock under
its stock repurchase program during the year ended June 30, 2019 at
an average price per share of $32.11. On December 12, 2018, the
Company announced that its Board of Directors approved an eighth
stock repurchase program for the repurchase of up to 95,000 shares.
As of June 30, 2019, there were 55,398 shares remaining for
repurchase under the eighth stock repurchase program.
Home Federal Bancorp, Inc. of Louisiana is the
holding company for Home Federal Bank which conducts business from
its seven 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.
Home Federal Bancorp, Inc. of Louisiana |
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL
CONDITION |
(In thousands) |
|
|
June 30, |
|
2019 |
|
2018 |
|
(Unaudited) |
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
18,108 |
|
$ |
15,867 |
Securities available for sale at fair value |
|
41,655 |
|
|
29,324 |
Securities held to maturity (fair value June 30, 2019: $25,532;
June 30, 2018: $27,818) |
|
25,349 |
|
|
28,888 |
Loans held-for-sale |
|
8,608 |
|
|
6,762 |
Loans receivable, net of allowance for loan losses (June 30, 2019:
$3,452; June 30, 2018: $3,425) |
|
324,134 |
|
|
317,493 |
Premises and equipment, net |
|
13,554 |
|
|
12,243 |
Deferred tax asset |
|
849 |
|
|
1,102 |
Real estate owned |
|
1,366 |
|
|
1,177 |
Other assets |
|
8,830 |
|
|
8,794 |
|
|
|
|
Total assets |
$ |
442,453 |
|
$ |
421,650 |
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
Deposits |
$ |
388,164 |
|
$ |
360,260 |
Advances from the Federal Home Loan Bank of Dallas |
|
1,355 |
|
|
11,637 |
Other Borrowings |
|
450 |
|
|
300 |
Other liabilities |
|
2,142 |
|
|
2,416 |
|
|
|
|
Total liabilities |
|
392,111 |
|
|
374,613 |
|
|
|
|
Shareholders’ equity |
|
50,342 |
|
|
47,037 |
|
|
|
|
Total liabilities and shareholders’ equity |
$ |
442,453 |
|
$ |
421,650 |
Home Federal Bancorp, Inc. of Louisiana |
CONSOLIDATED STATEMENTS OF INCOME |
(In thousands, except per share data) |
|
|
Three Months Ended |
|
Year Ended |
|
June 30, |
|
June 30, |
|
2019 |
|
2018 |
|
2019 |
|
|
2018 |
Interest income |
|
|
|
|
|
|
|
Loans, including fees |
$ |
4,465 |
|
$ |
4,363 |
|
$ |
18,058 |
|
|
$ |
17,106 |
|
Investment securities |
|
16 |
|
|
12 |
|
|
62 |
|
|
|
47 |
|
Mortgage-backed
securities |
|
386 |
|
|
303 |
|
|
1,398 |
|
|
|
1,129 |
|
Other interest-earning
assets |
|
95 |
|
|
57 |
|
|
328 |
|
|
|
141 |
|
Total interest income |
|
4,962 |
|
|
4,735 |
|
|
19,846 |
|
|
|
18,423 |
|
Interest expense |
|
|
|
|
|
|
|
Deposits |
|
1,272 |
|
|
833 |
|
|
4,380 |
|
|
|
3,046 |
|
Federal Home Loan Bank
borrowings |
|
16 |
|
|
93 |
|
|
143 |
|
|
|
445 |
|
Other bank borrowings |
|
3 |
|
|
-- |
|
|
9 |
|
|
|
4 |
|
Total interest
expense |
|
1,291 |
|
|
926 |
|
|
4,532 |
|
|
|
3,495 |
|
Net interest income |
|
3,671 |
|
|
3,809 |
|
|
15,314 |
|
|
|
14,928 |
|
|
|
|
|
|
|
|
|
Provision for loan losses |
|
150 |
|
|
200 |
|
|
600 |
|
|
|
1,050 |
|
Net interest income after
provision for loan losses |
|
3,521 |
|
|
3,609 |
|
|
14,714 |
|
|
|
13,878 |
|
|
|
|
|
|
|
|
|
Non-interest income |
|
|
|
|
|
|
|
Gain on sale of loans |
|
484 |
|
|
447 |
|
|
1,555 |
|
|
|
1,767 |
|
(Loss) on sale of real
estate |
|
-- |
|
|
-- |
|
|
(345 |
) |
|
|
(1 |
) |
Gain on sale of
securities |
|
-- |
|
|
-- |
|
|
-- |
|
|
|
94 |
|
Income on bank owned life
insurance |
|
35 |
|
|
34 |
|
|
140 |
|
|
|
140 |
|
Service charges on deposit
accounts |
|
263 |
|
|
223 |
|
|
975 |
|
|
|
883 |
|
Other income |
|
12 |
|
|
64 |
|
|
60 |
|
|
|
105 |
|
|
|
|
|
|
|
|
|
Total non-interest
income |
|
794 |
|
|
768 |
|
|
2,385 |
|
|
|
2,988 |
|
|
|
|
|
|
|
|
|
Non-interest expense |
|
|
|
|
|
|
|
Compensation and
benefits |
|
1,648 |
|
|
1,640 |
|
|
6,443 |
|
|
|
6,500 |
|
Occupancy and
equipment |
|
388 |
|
|
329 |
|
|
1,359 |
|
|
|
1,345 |
|
Data processing |
|
128 |
|
|
164 |
|
|
533 |
|
|
|
662 |
|
Audit and examination
fees |
|
53 |
|
|
61 |
|
|
242 |
|
|
|
254 |
|
Franchise and bank shares
tax |
|
97 |
|
|
96 |
|
|
392 |
|
|
|
392 |
|
Advertising |
|
131 |
|
|
68 |
|
|
362 |
|
|
|
185 |
|
Legal fees |
|
111 |
|
|
161 |
|
|
544 |
|
|
|
557 |
|
Loan and collection |
|
81 |
|
|
64 |
|
|
290 |
|
|
|
269 |
|
Deposit insurance
premium |
|
29 |
|
|
30 |
|
|
88 |
|
|
|
125 |
|
Other expenses |
|
189 |
|
|
175 |
|
|
820 |
|
|
|
757 |
|
|
|
|
|
|
|
|
|
Total non-interest
expense |
|
2,855 |
|
|
2,788 |
|
|
11,073 |
|
|
|
11,046 |
|
|
|
|
|
|
|
|
|
Income before income
taxes |
|
1,460 |
|
|
1,589 |
|
|
6,026 |
|
|
|
5,820 |
|
Provision for income tax
expense |
|
299 |
|
|
412 |
|
|
1,283 |
|
|
|
2,252 |
|
|
|
|
|
|
|
|
|
NET INCOME |
$ |
1,161 |
|
$ |
1,177 |
|
$ |
4,743 |
|
|
$ |
3,568 |
|
|
|
|
|
|
|
|
|
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.66 |
|
$ |
0.66 |
|
$ |
2.68 |
|
|
$ |
1.98 |
|
Diluted |
$ |
0.62 |
|
$ |
0.61 |
|
$ |
2.50 |
|
|
$ |
1.87 |
|
|
Three Months Ended |
|
Year Ended |
|
June 30, |
|
June 30, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
|
|
|
|
|
|
|
Selected Operating Ratios(1): |
|
|
|
|
|
|
|
Average interest rate spread |
|
3.24 |
% |
|
|
3.63 |
% |
|
|
3.50 |
% |
|
|
3.58 |
% |
Net interest margin |
|
3.56 |
% |
|
|
3.86 |
% |
|
|
3.78 |
% |
|
|
3.80 |
% |
Return on average assets |
|
1.05 |
% |
|
|
1.12 |
% |
|
|
1.10 |
% |
|
|
0.85 |
% |
Return on average equity |
|
9.37 |
% |
|
|
10.03 |
% |
|
|
9.82 |
% |
|
|
7.61 |
% |
|
|
|
|
|
|
|
|
Asset Quality Ratios(2): |
|
|
|
|
|
|
|
Non-performing assets as a percent of total assets |
|
1.15 |
% |
|
|
0.72 |
% |
|
|
1.15 |
% |
|
|
0.72 |
% |
Allowance for loan losses as a percent of non-performing
loans |
|
92.3 |
% |
|
|
112.17 |
% |
|
|
92.3 |
% |
|
|
112.17 |
% |
Allowance for loan losses as a percent of total loans
receivable |
|
1.05 |
% |
|
|
1.07 |
% |
|
|
1.05 |
% |
|
|
1.07 |
% |
|
|
|
|
|
|
|
|
Per Share Data: |
|
|
|
|
|
|
|
Shares outstanding at period end |
|
1,845,482 |
|
|
|
1,894,081 |
|
|
|
1,845,482 |
|
|
|
1,894,081 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
1,748,218 |
|
|
|
1,791,595 |
|
|
|
1,767,736 |
|
|
|
1,734,948 |
|
Diluted |
|
1,874,634 |
|
|
|
1,919,185 |
|
|
|
1,894,011 |
|
|
|
1,846,540 |
|
Tangible book value at period end |
$ |
27.28 |
|
|
$ |
24.83 |
|
|
$ |
27.28 |
|
|
$ |
24.83 |
|
|
|
|
|
|
|
|
|
|
(1) Ratios for the three month periods are annualized. |
|
|
|
|
|
|
|
(2) Asset quality ratios are end of period ratios. |
|
|
|
|
|
|
|
James R. Barlow
President and Chief Executive Officer
(318) 222-1145
Home Federal Bancorp Inc... (NASDAQ:HFBL)
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Home Federal Bancorp Inc... (NASDAQ:HFBL)
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