Home Federal Bancorp, Inc. of Louisiana reports recurring banking-company developments as the holding company for Home Federal Bank, a northwest Louisiana community bank with full-service banking offices. Company updates center on operating results, net interest margin, average balances, loan and deposit trends, securities portfolio effects, and balance-sheet measures tied to its savings-bank model.
HFBL announcements also cover capital-return actions, including quarterly cash dividends and stock repurchase programs approved by the board. Its news releases regularly connect earnings performance with funding mix, book value, asset growth, and shareholder distributions.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) announced a quarterly cash dividend of $0.10 per share, declared during the Board meeting on July 21, 2021. This dividend, marking the 65th consecutive quarterly payment, will be payable on August 16, 2021, to shareholders of record by August 2, 2021. The dividend reflects a 21.2% increase from previous rates, demonstrating the company's commitment to shareholder value and confidence in its financial stability, with a payout ratio of approximately 24%.
Home Federal Bank (HFBL) is set to break ground on a new micro branch in West Shreveport, Louisiana, located at 6903 Pines Road. This marks the bank's ninth location, part of an aggressive expansion plan initiated in 2009. The new branch will offer full-service banking, including consumer and commercial lending, mortgage loans, and various deposit accounts, in a smaller footprint. The move aims to address the lack of local banking options, as major banks leave the area, providing critical services to the community.
Home Federal Bancorp, holding company for Home Federal Bank, reported a net income of $1.4 million for Q1 2021, up from $977,000 in Q1 2020. EPS rose to $0.44 from $0.29. For the nine months ended March 31, 2021, net income reached $4.1 million, compared to $2.8 million in 2020. Total deposits increased 9.7% to $505.4 million, while loan deferrals dropped significantly. A two-for-one stock split was announced, maintaining cash dividends at $0.0825 per share. Challenges remain due to COVID-19, with non-performing assets down to $2.7 million.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) declared a quarterly cash dividend of $0.0825 per share on April 21, 2021. The dividend is payable on May 17, 2021, to shareholders on record by May 3, 2021. Chairman James R. Barlow emphasized that this dividend follows a 2-for-1 stock split and aims to maintain similar total cash dividends post-split. Home Federal Bancorp operates several banking offices in northwest Louisiana.
Home Federal Bancorp, Inc. of Louisiana (HFBL) announced a two-for-one stock split in the form of a 100% stock dividend, effective March 31, 2021, for shareholders on record as of March 22, 2021. This will increase the outstanding shares from 1.7 million to 3.4 million without altering the par value of $0.01 per share. The quarterly cash dividend will adjust to $0.0825 per share, post-split, reflecting a continued commitment to shareholder value. CEO James R. Barlow emphasized the stock split aims to enhance liquidity and attract new investors.
Home Federal Bancorp reported strong financial results for Q2 2020, with net income reaching $1.4 million, up from $588,000 in the same quarter last year. Basic earnings per share (EPS) stood at $0.87, nearly triple from $0.35 in Q2 2019. For the first half, net income was $2.7 million, up from $1.8 million year-over-year. Deposits rose 3.7% to $477.9 million, while mortgage loans originated were $114.9 million. Despite an increase in provisions for loan losses due to COVID-19, the overall outlook remains positive with a focus on community support and loan modifications.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) announced a quarterly cash dividend of $0.165 per share, payable on February 15, 2021, to shareholders of record as of February 1, 2021. This decision reflects the Company's ongoing commitment to returning value to shareholders.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) has announced a new stock repurchase program, authorizing the buyback of up to 85,000 shares, representing around 5% of its outstanding common stock. This repurchase will occur through open market or privately negotiated transactions and is notable for having no expiration date. This initiative reflects the company's ongoing commitment to enhancing shareholder value.
Home Federal Bancorp reported net income of $1.2 million for Q3 2020, unchanged from Q3 2019. Earnings per share were $0.76 basic and $0.74 diluted, compared to $0.73 and $0.68 in the prior year. Total deposits rose by $22.9 million (5.0%) to $483.7 million. Mortgage loans originated for sale were $60.3 million, up from $24.4 million. However, the company set aside $700,000 for loan losses, significantly up from $175,000 a year prior, reflecting COVID-19 impacts. Total assets grew to $541.6 million, while total liabilities increased by $22.9 million.
Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) announced on October 21, 2020, a quarterly cash dividend of $0.165 per share on its common stock. This dividend will be payable on November 16, 2020, to shareholders of record by the close of business on November 2, 2020.
The bank operates seven full-service offices in northwest Louisiana, providing various banking services to its community.