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HMN Financial, Inc. (HMNF) reported a net income of $1.5 million for Q1 2022, down from $3.4 million in Q1 2021. Diluted EPS fell to $0.34 from $0.74, reflecting a $0.9 million increase in the provision for loan losses and a decrease in loan sales gains. Net interest income was $7.3 million, down 2.1%, with a net interest margin of 2.94%, decreasing 42 basis points. Non-interest income decreased to $2.4 million, while non-interest expense rose 11.9% to $7.3 million. The return on average assets was 0.58%, significantly lower than 1.49% in the previous year.
HMN Financial reported a net income of $2.0 million for Q4 2021, a decrease of $1.1 million from Q4 2020. Diluted earnings per share fell to $0.45, down $0.22 year-over-year. The net interest margin decreased to 2.80% from 3.51% a year earlier. For the year, net income rose to $13.6 million, an increase of $3.3 million, resulting in diluted earnings per share of $3.01. The Board declared a dividend of $0.06 per share payable on March 9, 2022.
HMN Financial, Inc. (HMNF) reported a third-quarter net income of $3.6 million, an increase from $3.1 million in 2020. Diluted earnings per share rose to $0.81, up from $0.67. The decrease in provision for loan losses by $1.7 million contributed positively to this growth, coupled with a $0.7 million increase in net interest income, totaling $8.0 million. However, gains on loan sales fell by $1.5 million. Year-to-date, net income reached $11.6 million, an increase of 61.1%. Notably, the net interest margin decreased to 3.31%, down from 3.57% in 2020.
HMN Financial reported a net income of $4.5 million for Q2 2021, up from $2.7 million in Q2 2020, with diluted earnings per share increasing to $1.00 from $0.58. Year-to-date, net income reached $7.9 million, a 94.9% rise compared to $4.1 million for the first half of 2020. Key highlights include a $1.5 million gain from real estate sales and a decrease in loan loss provisions. However, net interest margin decreased to 3.27% from 3.57% year-over-year.
HMN Financial reported a strong first quarter for 2021, with a net income of $3.4 million, up from $1.4 million in Q1 2020. Diluted earnings per share increased to $0.74 from $0.30. Key drivers included a $1.1 million decrease in loan loss provisions and a $0.7 million increase in loan sales. Net interest income rose to $7.4 million, while the net interest margin fell to 3.36%. Return on average assets was 1.49%, and return on equity reached 13.38%. The company remains optimistic about loan origination growth amid favorable economic conditions.
HMN Financial, Inc. reported strong fourth quarter results for 2020, showing a net income of $3.1 million, up $1.9 million from $1.2 million in Q4 2019. Diluted earnings per share increased to $0.67, a $0.40 increase from the previous year. Annual net income rose to $10.3 million, a $2.5 million increase from $7.8 million in 2019. Key metrics included a net interest margin of 3.55%, down from 4.04%, and a provision for loan losses of $2.7 million. The company attributes success to increased mortgage loan originations, despite facing challenges from the COVID-19 pandemic.
HMN Financial reported a net income of $3.1 million for Q3 2020, an increase of $1.0 million from Q3 2019. Diluted earnings per share rose to $0.67, up $0.22. The company experienced a $2.2 million increase in loan sale gains, driven by a surge in mortgage refinancing. However, the provision for loan losses rose to $0.8 million, reflecting greater economic uncertainty due to COVID-19. Year-to-date, net income reached $7.2 million, with EPS of $1.54. Net interest margin declined to 3.40%, a drop of 57 basis points year-on-year.
HMN Financial, Inc. (HMNF) reported a net income of $2.7 million for Q2 2020, down from $2.9 million in Q2 2019. Diluted EPS fell to $0.58 from $0.62. The provision for loan losses rose to $0.3 million due to decreased recoveries and economic impacts from COVID-19. Net interest margin decreased to 3.57% from 4.35% in the same quarter last year. Non-interest income increased significantly by 77.8% to $3.6 million, driven largely by gains on mortgage loan sales. Year-to-date, net income was $4.1 million, down $0.4 million from the prior year, reflecting similar trends.
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