Home Federal Bancorp (HFBL) earnings jump on stronger net interest income

Rhea-AI Filing Summary

Home Federal Bancorp, Inc. of Louisiana reported stronger results for the three and six months ended December 31, 2025. Quarterly net income rose to $1.675 million from $1.020 million a year earlier, with basic earnings per share increasing to $0.55 from $0.33.

Net interest income for the quarter improved to $5.377 million from $4.600 million as loan interest income grew while deposit interest expense declined versus the prior year period. Non-interest income also increased, and non-interest expenses were essentially flat, supporting higher profitability despite a modestly higher provision for credit losses.

For the six-month period, net income climbed to $3.274 million from $1.961 million, and basic earnings per share rose to $1.09 from $0.64. Total assets reached $621.449 million with net loans of $471.533 million, deposits of $554.877 million, and stockholders’ equity of $57.749 million as of December 31, 2025.

Positive

• Stronger profitability: Quarterly net income increased to $1.675 million from $1.020 million, and six‑month net income rose to $3.274 million from $1.961 million, with basic EPS up to $0.55 and $1.09, respectively.
• Improved core earnings: Net interest income grew to $5.377 million for the quarter and $10.638 million for six months, while total non‑interest expense was flat to slightly lower versus the prior‑year periods, supporting operating leverage.
• Balance sheet growth and capital build: Total assets increased to $621.449 million, deposits to $554.877 million, and stockholders’ equity to $57.749 million, with accumulated other comprehensive loss narrowing to $(1.383) million from $(1.934) million.

Negative

• None.

Insights

Banking sector equity analyst

Earnings and balance sheet both strengthened, driven mainly by loan growth and a wider net interest margin.

Home Federal Bancorp delivered a notable jump in profitability. Quarterly net income increased to $1.675 million from $1.020 million, helped by net interest income rising to $5.377 million as loans produced more interest and deposit funding costs declined versus the prior year.

Credit costs remained manageable: the six‑month provision for credit losses was $152,000, modest relative to total loans of $476.085 million. The allowance for credit losses stayed sizable at $4.442 million, while charge‑offs were limited, suggesting stable asset quality based on the disclosed data.

On the balance sheet, total assets increased to $621.449 million with net loans up to $471.533 million and deposits to $554.877 million. Equity rose to $57.749 million, aided by earnings and an improvement in accumulated other comprehensive loss to $(1.383) million, reflecting smaller unrealized losses on securities.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2025

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to _________

Commission file number 001-35019

HOME FEDERAL BANCORP, INC. OF LOUISIANA

(Exact name of registrant as specified in its charter)

Louisiana		02-0815311
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

624 Market Street, Shreveport, Louisiana		71101
(Address of principal executive offices)		(Zip Code)

(318) 222-1145

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (par value $0.01 per share)	HFBL	Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  ☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check One):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes  ☒ No

Shares of common stock, par value $0.01 per share, outstanding as of February 12, 2026: The registrant had 3,074,637 shares of common stock outstanding.

INDEX

		Page
PART I	FINANCIAL INFORMATION
Item 1:	Financial Statements (Unaudited)
	Consolidated Balance Sheets	1
	Consolidated Statements of Operations	2
	Consolidated Statements of Comprehensive Income	3
	Consolidated Statements of Changes in Stockholders’ Equity	4
	Consolidated Statements of Cash Flows	6
	Notes to Consolidated Financial Statements	8
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	35
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	43
Item 4:	Controls and Procedures	43
PART II	OTHER INFORMATION
Item 1:	Legal Proceedings	44
Item 1A:	Risk Factors	44
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	44
Item 3:	Defaults Upon Senior Securities	45
Item 4:	Mine Safety Disclosures	45
Item 5:	Other Information	45
Item 6:	Exhibits	45
SIGNATURES

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED BALANCE SHEETS

(In thousands except share and per share data)

		December 31, 2025				June 30, 2025
		(Unaudited)
ASSETS
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $12,465 and $10,380 at December 31, 2025 and June 30, 2025, Respectively)		$	19,268			$	17,347
Securities Available-for-Sale (amortized cost December 31, 2025: $40,197; June 30, 2025: $36,695, Respectively)			38,446				34,246
Securities Held-to-Maturity (fair value December 31, 2025: $49,671; June 30, 2025: $51,139, Respectively)			58,238				61,334
Other Securities			654				650
Loans Held-for-Sale			861				1,540
Loans Receivable, Net of Allowance for Credit Losses (December 31, 2025: $4,442; June 30, 2025: $4,484, Respectively)			471,533				461,004
Accrued Interest Receivable			1,873				1,836
Premises and Equipment, Net			16,752				17,266
Bank Owned Life Insurance			6,984				6,926
Goodwill			2,990				2,990
Core Deposit Intangible			784				915
Deferred Tax Asset			982				1,163
Real Estate Owned			809				970
Other assets			1,275				1,305
Total Assets		$	621,449			$	609,492
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Deposits:
Non-interest bearing		$	127,846			$	122,416
Interest bearing			427,031				423,874
Total Deposits			554,877				546,290
Advances from Borrowers for Taxes and Insurance			393				543
Other Borrowings			4,000				4,000
Other Accrued Expenses and Liabilities			4,430				3,454
Total Liabilities			563,700				554,287
STOCKHOLDERS’ EQUITY
Preferred Stock - $0.01 Par Value; 10,000,000 Shares Authorized: None Issued and Outstanding			-				-
Common Stock - $0.01 Par Value; 40,000,000 Shares Authorized: 3,078,470 and 3,084,764 Shares Issued and Outstanding at December 31, 2025 and June 30, 2025 Respectively			34				32
Additional Paid-in Capital			43,978				42,187
Unearned ESOP Stock			(292	)			(321	)
Retained Earnings			15,412				15,241
Accumulated Other Comprehensive Loss			(1,383	)			(1,934	)
Total Stockholders’ Equity			57,749				55,205
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	621,449			$	609,492

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except per share data)

(Unaudited)

		Three Months Ended								Six Months Ended
		December 31,								December 31,
		2025				2024				2025				2024
		(Unaudited)								(Unaudited)
INTEREST INCOME
Loans, including fees		$	7,339			$	6,791			$	14,610			$	13,686
Investment securities			9				63				22				130
Mortgage-backed securities			552				470				1,094				913
Other interest-earning assets			163				334				347				670
Total Interest Income			8,063				7,658				16,073				15,399
INTEREST EXPENSE
Deposits			2,613				2,977				5,286				6,175
Other bank borrowings			73				81				149				198
Total Interest Expense			2,686				3,058				5,435				6,373
Net Interest Income			5,377				4,600				10,638				9,026
PROVISION FOR (RECOVERY OF) CREDIT LOSSES			109				45				152				(178	)
Net interest income after provision for credit losses			5,268				4,555				10,486				9,204
NON-INTEREST INCOME
Loss on sale of real estate			(8	)			(12	)			(8	)			(266	)
Gain on sale of loans			130				5				276				101
Loss on sale of securities			-				(6	)			-				(6	)
Income on Bank-Owned Life Insurance			30				30				58				58
Service charges on deposit accounts			436				392				859				783
Other income			50				79				103				118
Total Non-Interest Income			638				488				1,288				788
NON-INTEREST EXPENSE
Compensation and benefits			2,101				2,229				4,251				4,531
Occupancy and equipment			558				537				1,126				1,101
Data processing			318				336				654				554
Audit and examination fees			110				191				179				323
Franchise and bank shares tax			54				1				189				169
Advertising			24				44				53				101
Professional fees			150				134				235				251
Loan and collection			35				30				77				58
Amortization Core Deposit Intangible			64				72				131				146
Deposit insurance premium			84				75				177				165
Other expenses			295				187				572				447
Total Non-Interest Expense			3,793				3,836				7,644				7,846
Income Before Income Taxes			2,113				1,207				4,130				2,146
PROVISION FOR INCOME TAX EXPENSE			438				187				856				185
NET INCOME		$	1,675			$	1,020			$	3,274			$	1,961
EARNINGS PER SHARE
Basic		$	0.55			$	0.33			$	1.09			$	0.64
Diluted		$	0.54			$	0.33			$	1.07			$	0.64

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Thousands)

		Three Months Ended								Six Months Ended
		December 31,								December 31,
		2025				2024				2025				2024
		(Unaudited)								(Unaudited)
Net Income		$	1,675			$	1,020			$	3,274			$	1,961
Other Comprehensive Gain (Loss), Net of Tax
Unrealized gains (losses) on securities available-for-sale:
Unrealized holding gains (losses) arising during the period			197				(1,287	)			698				(19	)
Less: reclassification adjustments for securities gains(losses) realized in net income			-				(6	)			-				(6	)
Income tax effect			(41	)			269				(147	)			3
Total Other Comprehensive Gain (Loss), Net of Tax			156				(1,012	)			551				(10	)
Total Comprehensive Income		$	1,831			$	8			$	3,825			$	1,951

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

THREE MONTHS ENDED DECEMBER 31, 2025 AND 2024

(In Thousands)

		Common Stock				Additional Paid-in Capital				Unearned ESOP Stock				Retained Earnings				Accumulated Other Income (Loss)				Total Stockholders’ Equity
		(Unaudited)
BALANCE - September 30, 2024		$	32			$	41,822			$	(379	)		$	14,405			$	(1,613	)		$	54,267
ESOP Compensation Earned			-				46				29				-				-				75
Stock Options Exercised			-				-				-				-				-				-
Dividends Paid			-				-				-				(407	)			-				(407	)
Stock Options Vested			-				142				-				-				-				142
Company Stock Purchased			-				-				-				(152	)			-				(152	)
Net Income			-				-				-				1,020				-				1,020
Other Comprehensive Income (Loss), Unrealized Gain on Debt Securities, Net of Tax			-				-				-				-				(1,012	)			(1,012	)
BALANCE - December 31, 2024		$	32			$	42,010			$	(350	)		$	14,866			$	(2,625	)		$	53,933
BALANCE - September 30, 2025		$	32			$	42,259			$	(307	)		$	16,146			$	(1,539	)		$	56,591
ESOP Compensation Earned			-				32				15				-				-				47
Stock Options Exercised			2				1,564				-				-				-				1,566
Dividends Paid			-				-				-				(418	)			-				(418	)
Stock Options Vested			-				18				-				-				-				18
Share Awards Earned			-				105				-				-				-				105
Company Stock Purchased			-				-				-				(1,991	)			-				(1,991	)
Net Income			-				-				-				1,675				-				1,675
Other Comprehensive Income (Loss), Unrealized Gain on Debt Securities, Net of Tax			-				-				-				-				156				156
BALANCE - December 31, 2025		$	34			$	43,978			$	(292	)		$	15,412			$	(1,383	)		$	57,749

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024

(In Thousands)

		Common Stock				Additional Paid-in Capital				Unearned ESOP Stock				Retained Earnings				Accumulated Other Income (Loss)				Total Stockholders’ Equity
		(Unaudited)
BALANCE - June 30, 2024		$	32			$	41,739			$	(408	)		$	14,055			$	(2,615	)		$	52,803
ESOP Compensation Earned			-				86				58				-				-				144
Stock Options Exercised			-				19				-				-				-				19
Dividends Paid			-				-				-				(816	)			-				(816	)
Stock Options Vested			-				166				-				-				-				166
Company Stock Purchased			-				-				-				(334	)			-				(334	)
Net Income			-				-				-				1,961				-				1,961
Other Comprehensive Income (Loss), Unrealized Gain on Debt Securities, Net of Tax			-				-				-				-				(10	)			(10	)
BALANCE - December 31, 2024		$	32			$	42,010			$	(350	)		$	14,866			$	(2,625	)		$	53,933
BALANCE - June 30, 2025		$	32			$	42,187			$	(321	)		$	15,241			$	(1,934	)		$	55,205
ESOP Compensation Earned			-				58				29				-				-				87
Stock Options Exercised			2				1,587				-				-				-				1,589
Dividends Paid			-				-				-				(833	)			-				(833	)
Stock Options Vested			-				41				-				-				-				41
Share Awards Earned			-				105				-				-				-				105
Company Stock Purchased			-				-				-				(2,270	)			-				(2,270	)
Net Income			-				-				-				3,274				-				3,274
Other Comprehensive Income (Loss), Unrealized Gain on Debt Securities, Net of Tax			-				-				-				-				551				551
BALANCE - December 31, 2025		$	34			$	43,978			$	(292	)		$	15,412			$	(1,383	)		$	57,749

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

		Six Months Ended
		December 31,
		2025				2024
		(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income		$	3,274			$	1,961
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Gain on Sale of Loans			(276	)			(101	)
Loss on Sale of Investments			-				6
Net Amortization and Accretion on Securities			(166	)			(53	)
Amortization of Deferred Loan Fees			(37	)			(25	)
Amortization of Purchased Loans			(110	)			(154	)
Provision for (Recovery of) Loan Losses			152				(178	)
Depreciation of Premises and Equipment			522				449
Loss on Sales of Real Estate			8				266
ESOP Compensation Expense			87				144
Stock Option Expense			41				166
Deferred Income Tax Expense (Benefit)			34				(354	)
Share Awards Expense			105				-
Increase in Cash Surrender Value on Bank Owned Life Insurance			(58	)			(58	)
Amortization Core Deposit Intangible			131				146
Changes in Assets and Liabilities:
Origination and Purchase of Loans Held-for-Sale			(13,524	)			(6,112	)
Sale and Principal Repayments on Loans Held-for-Sale			14,479				7,730
Accrued Interest Receivable			(37	)			(12	)
Other Operating Assets			30				(195	)
Other Operating Liabilities			976				(165	)
Net Cash Provided by Operating Activities			5,631				3,461
CASH FLOWS FROM INVESTING ACTIVITIES
Loan Originations and Purchases, Net			(11,495	)			12,494
Deferred Loan Fees Collected			42				22
Acquisition of Premises and Equipment			(8	)			(18	)
Proceeds from Sale of Premises and Equipment			-				28
Proceeds from Sale of Real Estate			1,106				199
Improvements to Real Estate Owned Prior to Disposition			(34	)			(47	)
Changes in Federal Home Loan Bank Stock			(4	)			(37	)
Activity in Available-for-Sale Securities:
Principal Payments on Securities			3,229				3,536
Purchase of Mortgage-Backed Securities			(6,547	)			(6,708	)
Proceeds from sales of Mortgage-Backed Securities			-				157
Proceeds from sales of US Treasury Notes			-				494
Activity in Held-to-Maturity Securities:
Principal Payments on Mortgage-Backed Securities			3,078				2,857
Net Cash (Used in) Provided by Investing Activities			(10,633	)			12,977

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

(In Thousands)

		Six Months Ended
		December 31,
		2025				2024
		(Unaudited)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Increase (Decrease) in Deposits		$	8,587			$	(27,463	)
Dividends Paid			(833	)			(816	)
Company Stock Purchased			(2,270	)			(334	)
Net Decrease in Advances from Borrowers for Taxes and Insurance			(150	)			(252	)
Repayments of Other Bank Borrowings			-				(3,000	)
Proceeds from Stock Options Exercised			1,589				19
Net Cash Provided by (Used in) Financing Activities			6,923				(31,846	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			1,921				(15,408	)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		$	17,347			$	34,948
CASH AND CASH EQUIVALENTS - END OF PERIOD		$	19,268			$	19,540
SUPPLEMENTARY CASH FLOW INFORMATION
Interest Paid on Deposits and Borrowed Funds		$	5,423			$	6,380
Market Value Adjustment for Loss on Securities Available-for-Sale			698				(13	)
Transfer from Loans to Other Real Estate Owned			919				-
Income Taxes Paid			815				-

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. Summary of Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Home Federal Bancorp, Inc. of Louisiana (the “Company”) and its subsidiary, Home Federal Bank (“Home Federal Bank” or the “Bank”). These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the six month period ended December 31, 2025 are not necessarily indicative of the results which may be expected for the fiscal year ending June 30, 2026. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K as of and for the year ended June 30, 2025 (the “Company’s 2025 Form 10-K”).

The Company follows accounting standards set by the Financial Accounting Standards Board (the “FASB”). The FASB sets generally accepted accounting principles (“GAAP”) that we follow to ensure we consistently report our financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (the “Codification” or the “ASC”).

In accordance with the subsequent events topic of the ASC, the Company evaluates events and transactions that occur after the statement of financial condition date for potential recognition in the consolidated financial statements. The effect of all subsequent events that provide additional evidence of conditions that existed at the statement of financial condition date are recognized in the consolidated financial statements as of December 31, 2025. In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred through the date these consolidated financial statements were issued.

Segment Reporting

The Company determined that all of its banking operations serve a similar customer base, offer similar products and services, and are managed through similar processes. Therefore, the Company’s banking operations are aggregated into one reportable operating segment, which generates income principally from interest on loans and, to a lesser extent, securities investments, as well as from fees charged in connection with various loan and deposit services. The Chief Operating Decision Maker (“CODM”), is the President and Chief Executive Officer, who for the purposes of assessing performance, making operating decisions, and allocating Company resources, regularly reviews net income as reported in the accompanying consolidated statements of operations. The level of disaggregation and amounts of significant segment income and expenses that are regularly provided to the CODM are the same as those presented in the accompanying consolidated statements of operations. Likewise, the measure of segment assets is reported on the accompanying consolidated balance sheets as total assets.

Use of Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for credit losses.

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Nature of Operations

Home Federal Bancorp, Inc. of Louisiana, a Louisiana corporation, is the fully public stock holding company for Home Federal Bank located in Shreveport, Louisiana. The Bank is a federally chartered stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. The Company is a savings and loan holding company regulated by the Board of Governors of the Federal Reserve System. Services are provided to the Bank’s customers by ten full-service banking offices and home office, located in Caddo, Bossier and Webster Parishes, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City-Minden combined statistical area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. As of December 31, 2025, the Bank had one wholly-owned subsidiary, Metro Financial Services, Inc., which previously engaged in the sale of annuity contracts and does not currently engage in a meaningful amount of business.

Cash and Cash Equivalents

For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which mature within ninety days.

Securities

Securities are being accounted for in accordance with FASB ASC 320’s, Investments, which requires the classification of securities into one of three categories: Trading, Available-for-Sale, or Held-to-Maturity. Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates this classification periodically.

Investments in debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at cost, adjusted for amortization of the related premiums and accretion of discounts, using the interest method. Investments in debt securities that are not classified as held-to-maturity are classified as either trading or available-for-sale securities.

Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings, while net unrealized holding gains and losses on available-for-sale debt securities are excluded from earnings and reported in other comprehensive income.

The Company held no trading securities as of December 31, 2025 and June 30, 2025.

Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Securities are periodically reviewed for impairment. For debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline is in the fair value below amortized cost basis (impairment) is due to credit or non-credit related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. For available for sale investments, credit related impairment is recognized as an allowance for credit losses (“ACL”) on the balance sheet, limited to the amount by which the amortized cost basis exceeds to the fair value, with a corresponding adjustment to earnings. For held to maturity investments, credit related impairment is recognized as an ACL on the balance sheet, for the entire amount of credit loss, with a corresponding adjustment to earnings. Both the ACL and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale security, or more likely than not will be required to sell such security before recovering the amortized cost basis, the entire impairment amount must be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL is such situation. Accrued interest is receivable is excluded from the estimate of credit losses.

In evaluating securities in unrealized loss positions, for impairment and the criteria regarding intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by federal governments or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial conditions, among other factors.

The Bank has invested in Federal Home Loan Bank (“FHLB”) stock, and other similar correspondent banks, which is reflected at cost in these consolidated financial statements. As a member of the FHLB System, the Bank is required to purchase and maintain stock in an amount determined by the FHLB. The FHLB stock is redeemable at par value at the discretion of the FHLB.

9

Index

Loans Held-for-Sale

Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate.

Loans Receivable

Loans receivable are stated as unpaid principal balances less ACL and unamortized deferred loan fees. Net nonrefundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discount on property improvement and automobile loans is deferred and amortized on the interest method over the life of the loan.

Allowance for Credit Losses

The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income.

The ACL for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses and 2) loans evaluated individually for expected credit losses. The ACL also includes certain qualitative adjustments to the ASU 2016-13 model.

Loans Evaluated Collectively. Homogeneous loans are evaluated collectively for expected credit losses. The loan pools/segments with similar risk characteristics were determined by Call Report codes.

Loans Evaluated Individually. Loans evaluated individually for expected credit losses could include loans on non-accrual status.

Management estimates the allowance balance using relevant available information from internal and external sources relating to past events, current conditions and reasonable and supportable forecasts. Adjustments to historical loss information are made to incorporate our reasonable and supportable forecast of future losses at the portfolio segment level, as well as any necessary qualitative adjustments, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and industry loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis.

Loans evaluated individually may have specific allocations assigned if the measured value of the loan using one of the noted techniques is less than its current carrying value. For loans measured using the fair value of collateral, if the analysis determines that sufficient collateral value would be available for repayment of the debt, then no allocations would be assigned to those loans. Collateral could be in the form of real estate or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification. For all loans, an internal risk rating process is used. The Company believes that internal risk ratings are the most relevant credit quality indicator for these types of loans. Assigning risk ratings involves judgment. Risk ratings may be changed based on ongoing monitoring procedures, or if specific loan review assessments identify a deterioration or an improvement in the loan.

10

Index

The following is a summary of the Company’s internal risk rating categories:

● Pass: Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less costs to acquire and sell the underlying collateral in a timely manner.

● Pass Watch - Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral.

● Special Mention: Loans identified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date.

● Substandard: Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.

● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

● Loss: This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end.

The allocation of the ACL is reviewed to evaluate its appropriateness in relation to the overall risk profile of the loan portfolio. The Company considers risk factors such as: local and national economic conditions; trends in delinquencies and non-accrual loans; the diversity of borrower industry types; and the composition of the portfolio by loan type.

Qualitative and Other Adjustments to Allowance for Credit Losses: In addition to the quantitative credit loss estimates for loans evaluated collectively, qualitative factors that may not be fully captured in the quantitative results are also evaluated. These include changes in lending policy, the nature and volume of the portfolio, overall business conditions in the economy, credit concentrations, competition, model imprecision, and legal and regulatory requirements. Qualitative adjustments are judgmental and are based on Management’s knowledge of the portfolio and the markets in which the Company operates. Qualitative adjustments are evaluated and approved on a quarterly basis. Additionally, the ACL includes other allowance categories that are not directly incorporated in the quantitative results. These include but are not limited to loans-in-process, trade acceptances and overdrafts.

Off Balance Sheet Credit Exposures. The ACL for off balance sheet credit exposures is recorded in other liabilities on the Consolidated Balance Sheet. This ACL represents management’s estimate of expected losses in its unfunded loan commitments and other off balance sheet credit exposures, such as letters of credit and credit recourse on sold residential mortgage loans. The allowance for credit losses specific to unfunded commitments is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). The ACL for off balance sheet credit exposures is increased or decreased by charges or reductions to expense, through the provision for credit losses. In addition to the ACL on loans held for investment, CECL requires a balance sheet liability for unfunded commitments, which is recognized if both of the following conditions are met: (1) the Company has a present contractual obligation to extend credit; and (2) the obligation is not unconditionally cancellable by the Company. Based on the language within the standard loan documents prepared for each Home Federal Bank commitment, all unfunded commitments are considered unconditionally cancellable and thus no CECL ACL is allocated.

Off-Balance Sheet Credit Related Financial Instruments

In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded.

11

Index

Real Estate Owned

Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and carried at the lower of cost or current fair value minus estimated costs to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell.

Premises and Equipment

Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:

Buildings and Improvements	10 - 40 Years
Furniture and Equipment	3 - 10 Years

Bank-Owned Life Insurance

The Bank has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income.

Income Taxes

The Company and its wholly-owned subsidiary file a consolidated Federal income tax return on a fiscal year basis. Each entity pays its pro-rata share of income taxes in accordance with a written tax-sharing agreement.

The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable.

The Company follows the provisions of the Income Taxes Topic of the FASB ASC 740. ASC 740 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties, and disclosures required. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.

While the Company is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders’ equity and net income.

Earnings per Share

Earnings per share are computed based upon the weighted average number of common shares outstanding during the period.

Stock-Based Compensation

GAAP requires all share-based payments to employees, including grants of employee stock options and share awards, to be recognized as expense in the consolidated statements of income based on their fair values. The amount of compensation is measured at the fair value of the options or share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or share awards.

12

Index

Comprehensive Income

Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale debt securities, are reported as a separate component of the equity section of the consolidated statements of financial conditions along with net income, they are components of comprehensive income.

Recent Accounting Pronouncements

FASB ASC Topic 280 “Segment Reporting: Improvements to Reportable Segments Disclosures” Update No. 2023-07 (“ASU 2023-07”). ASU 2023-07 became effective for the Company for the fiscal year ended June 30, 2025 and is being applied in interim periods beginning after June 30, 2025. ASU 2023-07 requires public entities to disclose the title and position of the entity’s CODM and an explanation of how the CODM utilizes the reported measures of profit or loss to assess segment performance and allocate resources, significant segment expenses, an amount and description for other segment items, and, on an interim basis, certain segment related disclosures that previously were required only on an annual basis. ASU 2023-07 also clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements and that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria are met. The adoption of ASU 2023-07 did not have a material impact on the Company’s consolidated financial statements.

13

Index

2. Securities

The amortized cost and fair value of securities with gross unrealized gains and losses follows:

		December 31, 2025
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
Securities Available for Sale		Cost				Gains				Losses				Value
		(In Thousands)
Debt Securities
FHLMC Mortgage -Backed Certificates		$	11,862			$	39			$	470			$	11,431
FNMA Mortgage-Backed Certificates			20,901				64				880				20,085
GNMA Mortgage-Backed Certificates			7,434				82				586				6,930
Total Debt Securities			40,197				185				1,936				38,446
Total Securities Available for Sale		$	40,197			$	185			$	1,936			$	38,446
Securities Held to Maturity
Debt Securities
FHLMC Mortgage -Backed Certificates		$	23,996			$	-			$	3,622			$	20,374
FNMA Mortgage-Backed Certificates			32,601				-				4,868				27,733
GNMA Mortgage-Backed Certificates			396				-				41				355
Total Debt Securities			56,993				-				8,531				48,462
Municipal Bonds			1,245				-				36				1,209
Total Securities Held to Maturity		$	58,238			$	-			$	8,567			$	49,671

		June 30, 2025
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
Securities Available for Sale		Cost				Gains				Losses				Value
		(In Thousands)
Debt Securities
FHLMC Mortgage -Backed Certificates		$	11,038			$	20			$	627			$	10,431
FNMA Mortgage-Backed Certificates			19,180				9				1,228				17,961
GNMA Mortgage-Backed Certificates			6,112				47				670				5,489
Total Debt Securities			36,330				76				2,525				33,881
Municipal Bonds			365				-				-				365
Total Securities Available for Sale		$	36,695			$	76			$	2,525			$	34,246
Securities Held to Maturity
Debt Securities
FHLMC Mortgage -Backed Certificates		$	25,201			$	-			$	4,372			$	20,829
FNMA Mortgage-Backed Certificates			34,286				-				5,709				28,577
GNMA Mortgage-Backed Certificates			588				-				59				529
Total Debt Securities			60,075				-				10,140				49,935
Municipal Bonds			1,259				-				55				1,204
Total Securities Held to Maturity		$	61,334			$	-			$	10,195			$	51,139

14

Index

The amortized cost and fair value of securities by contractual maturity at December 31, 2025 follows:

		Available-for-Sale								Held-to-Maturity
		Amortized				Fair				Amortized				Fair
		Cost				Value				Cost				Value
		(In Thousands)
Debt Securities
One through Five Years		$	1,063			$	1,046			$	-			$	-
After Five through Ten Years			6,878				6,571				358				352
Over Ten Years			32,256				30,829				56,635				48,110
Total Debt Securities			40,197				38,446				56,993				48,462
Municipals
Within One Year or Less			-				-				201				201
After Five through Ten Years			-				-				1,044				1,008
Total Municipals			-				-				1,245				1,209
Total		$	40,197			$	38,446			$	58,238			$	49,671

The amortized cost and fair value of securities by contractual maturity at June 30, 2025 follows:

		Available-for-Sale								Held-to-Maturity
		Amortized				Fair				Amortized				Fair
		Cost				Value				Cost				Value
		(In Thousands)
Debt Securities
One through Five Years		$	8			$	8			$	-			$	-
After Five through Ten Years			8,842				8,379				394				383
Over Ten Years			27,480				25,494				59,681				49,552
Total Debt Securities			36,330				33,881				60,075				49,935
Municipals
Within One Year or Less			365				365				205				202
After Five through Ten Years			-				-				1,054				1,002
Total Municipals			365				365				1,259				1,204
Total		$	36,695			$	34,246			$	61,334			$	51,139

15

Index

The following tables show information pertaining to gross unrealized losses on securities available-for-sale and held-to-maturity at December 31, 2025 and June 30, 2025 aggregated by investment category and length of time that individual securities have been in a continuous loss position.

		December 31, 2025
		Less than Twelve Months								Over Twelve Months
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
		(In Thousands)
Securities Available for Sale
Mortgage-Backed Securities		$	73			$	4,100			$	1,863			$	22,462
Total Securities Available for Sale		$	73			$	4,100			$	1,863			$	22,462

		December 31, 2025
		Less than Twelve Months								Over Twelve Months
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
		(In Thousands)
Securities Held-To-Maturity
Mortgage-Backed Securities		$	-			$	-			$	8,531			$	48,462
Municipals			-				-				36				1,209
Total Securities Held-To-Maturity		$	-			$	-			$	8,567			$	49,671

16

Index

		June 30, 2025
		Less than Twelve Months								Over Twelve Months
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
		(In Thousands)
Securities Available for Sale
Mortgage-Backed Securities		$	226			$	8,499			$	2,299			$	17,879
Total Securities Available for Sale		$	226			$	8,499			$	2,299			$	17,879

		June 30, 2025
		Less than Twelve Months								Over Twelve Months
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
		(In Thousands)
Securities Held-To-Maturity
Mortgage-Backed Securities		$	-			$	-			$	10,140			$	49,935
Municipals			-				-				55				1,204
Total Securities Held-To-Maturity		$	-			$	-			$	10,195			$	51,139

At December 31, 2025, the Company’s security portfolio consisted of 83 securities, 54 of which were in an unrealized loss position. At June 30, 2025, the Company’s security portfolio consisted of 74 securities, 53 of which were in an unrealized loss position. The unrealized losses on the Company’s investment in mortgage-backed securities at December 31, 2025 and June 30, 2025 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly, it is expected that these securities would not be settled at a price less than the amortized cost of the Company’s investment. Because the decline in market value is attributable to changes in interest rates and not credit quality and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2025.

At December 31, 2025 and June 30, 2025, securities with a carrying value of $23.408 million and $24.517 million, respectively, were pledged to secure certain deposits, borrowings, and other liabilities.

17

Index

3. Loans Receivable

Loans receivable are summarized as follows:

		December 31, 2025				June 30, 2025
		(In Thousands)
Loans Secured by Mortgages on Real Estate
One-to-Four Family Residential		$	169,322			$	174,978
Commercial			136,881				138,920
Multi-Family Residential			32,163				32,283
Land			53,818				30,054
Construction			4,435				11,226
Equity and Second Mortgage			2,923				2,520
Equity Lines of Credit			21,569				20,354
Total Mortgage Loans			421,111				410,335
Commercial Loans			54,120				54,138
Consumer Loans
Loans on Savings Accounts			533				381
Other Consumer Loans			321				739
Total Consumer Loans			854				1,120
Total Loans			476,085				465,593
Less: Allowance for Credit Losses			(4,442	)			(4,484	)
Unamortized Loan Fees			(110	)			(105	)
Net Loans Receivable		$	471,533			$	461,004

18

Index

Credit Quality Indicators

The Company segregates loans into risk categories based on the pertinent information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans according to credit risk. Loans classified as substandard or identified as special mention are reviewed quarterly by management to evaluate the level of deterioration, improvement, and impairment, if any, as well as assign the appropriate risk category.

Loans excluded from the scope of the quarterly review process above are generally identified as pass credits until: (a) they become past due; (b) management becomes aware of a deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification and the need to allocate reserves or charge-off.

The Company uses the following definitions for risk ratings:

Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less cost to acquire and sell the underlying collateral in a timely manner.

Pass Watch – Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral and are still considered a pass.

Special Mention - Loans identified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the bank’s credit position at some future date.

Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end.

19

Index

The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination year, as of December 31, 2025:

		Term Loans Amortized Cost by Origination Year																								Revolving
As of December 31, 2025		2025				2024				2023				2022				2021				Prior				Lines				Total
		(In Thousands)
One-to-four family residential
Risk rating
Pass		$	23,767			$	17,146			$	37,496			$	32,297			$	28,900			$	23,328			$	-			$	162,934
Pass watch			1,505				1,341				223				1,125				252				480				-				4,926
Special mention			-				38				-				243				375				249				-				905
Substandard			-				-				72				-				485				-				-				557
Total One-to-four family residential		$	25,272			$	18,525			$	37,791			$	33,665			$	30,012			$	24,057			$	-			$	169,322
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial
Risk rating
Pass		$	33,465			$	11,632			$	13,340			$	28,603			$	34,430			$	12,431			$	-			$	133,901
Pass watch			2,386				80				99				400				-				-				-				2,965
Substandard			-				-				-				15				-				-				-				15
Total commercial		$	35,851			$	11,712			$	13,439			$	29,018			$	34,430			$	12,431			$	-			$	136,881
Current period gross charge-offs		$	-			$	-			$	60			$	-			$	145			$	-			$	-			$	205
Multi-family residential
Risk rating
Pass		$	6,916			$	3,910			$	120			$	2,447			$	914			$	14,850			$	-			$	29,157
Pass watch			1,194				-				1,812				-				-				-				-				3,006
Total multi-family residential		$	8,110			$	3,910			$	1,932			$	2,447			$	914			$	14,850			$	-			$	32,163
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Land
Risk rating
Pass		$	26,633			$	15,883			$	2,444			$	2,576			$	3,398			$	888			$	-			$	51,822
Pass watch			1,872				95				-				-				5				-				-				1,972
Substandard			-				-				-				24				-				-				-				24
Total land		$	28,505			$	15,978			$	2,444			$	2,600			$	3,403			$	888			$	-			$	53,818
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Construction
Risk rating
Pass		$	3,955			$	-			$	-			$	-			$	-			$	-			$	-			$	3,955
Pass watch			240				240				-				-				-				-				-				480
Total construction		$	4,195			$	240			$	-			$	-			$	-			$	-			$	-			$	4,435
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

20

Index

		Term Loans Amortized Cost by Origination Year																								Revolving
As of December 31, 2025		2025				2024				2023				2022				2021				Prior				Lines				Total
		(In Thousands)
Equity loans and lines of credit
Risk rating
Pass		$	629			$	560			$	436			$	621			$	91			$	344			$	21,273			$	23,954
Pass watch			-				-				10				-				-				-				-				10
Special mention			-				-				-				-				-				-				71				71
Substandard			-				-				232				-				-				-				225				457
Total home equity and lines of credit		$	629			$	560			$	678			$	621			$	91			$	344			$	21,569			$	24,492
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial Loans
Risk rating
Pass		$	19,403			$	16,301			$	5,599			$	2,945			$	2,176			$	3,697			$	-			$	50,121
Pass watch			762				8				55				40				-				-				-				865
Special mention			2,417				145				538				-				-				-				-				3,100
Substandard			-				-				-				21				13				-				-				34
Total commercial loans		$	22,582			$	16,454			$	6,192			$	3,006			$	2,189			$	3,697			$	-			$	54,120
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Consumer Loans
Risk rating
Pass		$	291			$	216			$	95			$	68			$	-			$	152			$	-			$	822
Special mention			-				26				-				-				-				-				-				26
Substandard			1				-				5				-				-				-				-				6
Total consumer loans		$	292			$	242			$	100			$	68			$	-			$	152			$	-			$	854
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Total
Risk rating
Pass		$	115,059			$	65,648			$	59,530			$	69,557			$	69,909			$	55,690			$	21,273			$	456,666
Pass watch			7,959				1,764				2,199				1,565				257				480				-				14,224
Special mention			2,417				209				538				243				375				249				71				4,102
Substandard			1				-				309				60				498				-				225				1,093
Total		$	125,436			$	67,621			$	62,576			$	71,425			$	71,039			$	56,419			$	21,569			$	476,085
Current period gross charge-offs		$	-			$	-			$	60			$	-			$	145			$	-			$	-			$	205

21

Index

The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination year, as of June 30, 2025:

		Term Loans Amortized Cost by Origination Year																								Revolving
As of June 30, 2025		2025				2024				2023				2022				2021				Prior				Lines				Total
		(In Thousands)
One-to-four family residential
Risk rating
Pass		$	12,456			$	20,344			$	40,116			$	35,296			$	30,282			$	28,952			$	-			$	167,446
Pass watch			1,072				1,358				1,088				1,379				257				629				-				5,783
Special mention			-				40				-				-				379				314				-				733
Substandard			-				-				268				252				496				-				-				1,016
Total One-to-four family residential		$	13,528			$	21,742			$	41,472			$	36,927			$	31,414			$	29,895			$	-			$	174,978
Current period gross charge-offs		$	-			$	-			$	34			$	-			$	-			$	-			$	-			$	34
Commercial
Risk rating
Pass		$	21,880			$	12,736			$	17,394			$	32,791			$	36,221			$	13,823			$	-			$	134,845
Pass watch			114				2,488				98				408				-				-				-				3,108
Substandard			-				-				-				19				948				-				-				967
Total commercial		$	21,994			$	15,224			$	17,492			$	33,218			$	37,169			$	13,823			$	-			$	138,920
Current period gross charge-offs		$	-			$	-			$	154			$	-			$	90			$	-			$	-			$	244
Multi-family residential
Risk rating
Pass		$	498			$	6,854			$	1,969			$	4,871			$	942			$	15,942			$	-			$	31,076
Pass watch			1,207				-				-				-				-				-				-				1,207
Total multi-family residential		$	1,705			$	6,854			$	1,969			$	4,871			$	942			$	15,942			$	-			$	32,283
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Land
Risk rating
Pass		$	8,405			$	8,380			$	3,044			$	3,262			$	3,505			$	994			$	-			$	27,590
Pass watch			79				2,376				-				-				9				-				-				2,464
Total land		$	8,484			$	10,756			$	3,044			$	3,262			$	3,514			$	994			$	-			$	30,054
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Construction
Risk rating
Pass		$	7,192			$	3,054			$	-			$	-			$	-			$	-			$	-			$	10,246
Pass watch			-				980				-				-				-				-				-				980
Total construction		$	7,192			$	4,034			$	-			$	-			$	-			$	-			$	-			$	11,226
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

22

Index

		Term Loans Amortized Cost by Origination Year																								Revolving
As of June 30, 2025		2025				2024				2023				2022				2021				Prior				Lines				Total
		(In Thousands)
Equity loans and lines of credit
Risk rating
Pass		$	46			$	582			$	629			$	639			$	96			$	376			$	19,823			$	22,191
Pass watch			-				-				10				-				-				-				234				244
Special mention			-				-				-				-				-				-				72				72
Substandard			-				-				142				-				-				-				225				367
Total home equity and lines of credit		$	46			$	582			$	781			$	639			$	96			$	376			$	20,354			$	22,874
Current period gross charge-offs		$	-			$	-			$	-			$	-			$	7			$	17			$	-			$	24
Commercial Loans
Risk rating
Pass		$	6,742			$	21,685			$	9,317			$	4,100			$	2,973			$	4,756			$	-			$	49,573
Pass watch			762				8				70				70				-				-				-				910
Special mention			2,318				179				917				-				128				-				-				3,542
Substandard			-				-				75				25				13				-				-				113
Total commercial loans		$	9,822			$	21,872			$	10,379			$	4,195			$	3,114			$	4,756			$	-			$	54,138
Current period gross charge-offs		$	-			$	-			$	-			$	2			$	-			$	-			$	-			$	2
Consumer Loans
Risk rating
Pass		$	285			$	328			$	280			$	87			$	1			$	101			$	-			$	1,082
Special mention			-				29				-				-				-				-				-				29
Substandard			-				-				9				-				-				-				-				9
Total consumer loans		$	285			$	357			$	289			$	87			$	1			$	101			$	-			$	1,120
Current period gross charge-offs		$	-			$	1			$	18			$	-			$	-			$	-			$	-			$	19
Total
Risk rating
Pass		$	57,504			$	73,963			$	72,749			$	81,046			$	74,020			$	64,944			$	19,823			$	444,049
Pass watch			3,234				7,210				1,266				1,857				266				629				234				14,696
Special mention			2,318				248				917				-				507				314				72				4,376
Substandard			-				-				494				296				1,457				-				225				2,472
Total		$	63,056			$	81,421			$	75,426			$	83,199			$	76,250			$	65,887			$	20,354			$	465,593
Current period gross charge-offs		$	-			$	1			$	206			$	2			$	97			$	17			$	-			$	323

23

Index

The following tables present an aging analysis of past due loans, segregated by class of loans, as of December 31, 2025 and June 30, 2025:

December 31, 2025		30-59 Days Past Due				60-89 Days Past Due				90 or More Days Past Due				Total Past Due				Current				Total Loans Receivable				Recorded Investment > 90 Days and Accruing
		(In Thousands)
Real Estate Loans:
One-to-Four Family Residential		$	2,055			$	469			$	915			$	3,439			$	165,883			$	169,322			$	437
Commercial			-				-				-				0				136,881				136,881				-
Multi-Family Residential			-				-				-				0				32,163				32,163				-
Land			6				-				24				30				53,788				53,818				-
Construction			-				-				-				0				4,435				4,435				-
Equity and Second Mortgage			-				-				142				142				2,781				2,923				-
Equity Lines of Credit			71				-				225				296				21,273				21,569				-
Commercial Loans			29				-				21				50				54,070				54,120				-
Consumer Loans			-				27				-				27				827				854				-
Total		$	2,161			$	496			$	1,327			$	3,984			$	472,101			$	476,085			$	437

June 30, 2025		30-59 Days Past Due				60-89 Days Past Due				90 or More Days Past Due				Total Past Due				Current				Total Loans Receivable				Recorded Investment > 90 Days and Accruing
		(In Thousands)
Real Estate Loans:
One-to-Four Family Residential		$	174			$	853			$	963			$	1,990			$	172,988			$	174,978			$	252
Commercial			99				-				967				1,066				137,854				138,920				-
Multi-Family Residential			-				-				-				-				32,283				32,283				-
Land			17				-				-				17				30,037				30,054				-
Construction			-				-				-				-				11,226				11,226				-
Equity and Second Mortgage			-				-				142				142				2,378				2,520				-
Equity Lines of Credit			48				-				225				273				20,081				20,354				-
Commercial Loans			8				-				38				46				54,092				54,138				-
Consumer Loans			29				-				-				29				1,091				1,120				-
Total		$	375			$	853			$	2,335			$	3,563			$	462,030			$	465,593			$	252

There was no interest income recognized on non-accrual loans during the six months ended December 31, 2025, or the year ended June 30, 2025. If the non-accrual loans had been accruing interest at their original contracted rates, gross interest income that would have been recorded for the six months ended December 31, 2025 and the year ended June 30, 2025 was approximately $52,000 and $113,000, respectively.

24

Index

The change in the allowance for credit losses by loan portfolio class and recorded investment in loans for the six months ended December 31, 2025 and year ended June 30, 2025 was as follows:

		Real Estate Loans
		1-4 Family Residential				Commercial				Multi- Family				Land				Construction				Home Equity Loans and Lines of Credit				Commercial Loans				Consumer Loans				Total
		(In Thousands)
Allowance for credit losses:
Beginning Balances		$	2,202			$	1,202			$	113			$	165			$	74			$	182			$	538			$	8			$	4,484
Charge-Offs			-				(205	)			-				-				-				-				-				-				(205	)
Recoveries			-				2				-				1				-				6				1				1				11
Current Provision			(243	)			236				-				210				(43	)			32				(51	)			11				152
Ending Balances		$	1,959			$	1,235			$	113			$	376			$	31			$	220			$	488			$	20			$	4,442

		Real Estate Loans
		1-4 Family Residential				Commercial				Multi- Family				Land				Construction				Home Equity Loans and Lines of Credit				Commercial Loans				Consumer Loans				Total
		(In Thousands)
Allowance for credit losses:
Beginning Balances		$	2,346			$	1,088			$	130			$	175			$	103			$	165			$	548			$	19			$	4,574
Charge-Offs			(34	)			(244	)			-				-				-				(24	)			(2	)			(19	)			(323	)
Recoveries			351				-				-				1				-				5				2				-				359
Current Provision			(461	)			358				(17	)			(11	)			(29	)			36				(10	)			8				(126	)
Ending Balances		$	2,202			$	1,202			$	113			$	165			$	74			$	182			$	538			$	8			$	4,484

25

Index

The Company held loans that were individually evaluated for credit losses at December 31, 2025 and June 30, 2025 for which the repayment, on the basis of our assessment at the reporting date, is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. The ACL for these collateral-dependent loans is primarily based on the fair value of the underlying collateral at the reporting date. The following describes the types of collateral that secure collateral dependent loans:

● One-to four-family first mortgages are primarily secured by first liens on residential real estate.

● Commercial real estate loans are primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including self-storage facilities, hotels and restaurants.

● Multi-family loans are primarily secured by residential property that include five or more housing units.

● Construction and land loans are primarily secured by residential and commercial properties, which are under construction and/or redevelopment, and by raw land.

● Home equity loans and lines are primarily secured by first and junior liens on residential real estate.

● Commercial and industrial loans considered collateral dependent are primarily secured by accounts receivable, inventory and equipment.

● Consumer loans considered collateral dependent are primarily secured by titled vehicles.

The following table presents loans individually evaluated for impairment, segregated by class of loans, as of December 31, 2025 and June 30, 2025:

		December 31, 2025								June 30, 2025
		Loan Balance				Specific Allocations				Loan Balance				Specific Allocations
		(In Thousands)
Real Estate Loans:
One-to-Four Family Residential		$	1,828			$	57			$	2,234			$	97
Commercial			15				-				1,081				102
Multi-Family Residential			-				-				-				-
Land			107				15				115				4
Construction			-				-				-				-
Home Equity Loans and Lines of Credit			458				-				367				-
Commercial Loans			40				2				45				2
Consumer Loans			10				1				15				1
Total		$	2,458			$	75			$	3,857			$	206

The Bank has no commitments to loan additional funds to borrowers whose loans were previously in non-accrual status. As of December 31, 2025, there were no residential loans in the process of foreclosure.

As of December 31, 2025, there were no loans whose terms were modified for borrowers who may be experiencing financial difficulties.

At December 31, 2025 and June 30, 2025, accrued interest receivable on loans was $1.702 million and $1.624 million, respectively, and included within accrued interest receivable on the consolidated balance sheets.

26

Index

4. Deposits

Deposits at December 31, 2025 and June 30, 2025 consist of the following classifications:

		December 31, 2025				June 30, 2025
		(In Thousands)
Non-Interest Bearing		$	127,846			$	122,416
NOW Accounts			67,749				67,119
Money Markets			66,110				73,771
Savings Accounts			94,481				95,627
			356,186				358,933
Certificates of Deposit			198,691				187,357
Total Deposits		$	554,877			$	546,290

5. Earnings Per Share

Basic earnings per common share is computed based on the weighted average number of shares outstanding. Diluted earnings per share is computed based on the weighted average number of shares outstanding and common share equivalents that would arise from the exercise of dilutive securities. Earnings per share for the three and six months ended December 31, 2025 and 2024 were calculated as follows:

		Three Months Ended								Six Months Ended
		December 31,								December 31,
		2025				2024				2025				2024
		(In Thousands, Except Per Share Data)
Net Income		$	1,675			$	1,020			$	3,274			$	1,961
Weighted average shares outstanding - basic			3,023				3,059				3,016				3,063
Effect of dilutive common stock equivalents			53				16				49				15
Adjusted weighted average shares outstanding - diluted			3,076				3,075				3,065				3,078
Basic earnings per share		$	0.55			$	0.33			$	1.09			$	0.64
Diluted earnings per share		$	0.54			$	0.33			$	1.07			$	0.64

For the three months ended December 31, 2025 and 2024, there were weighted average outstanding options to purchase 243,508 and 317,700 shares, respectively, at a weighted average exercise price of $12.19 and $11.85 per share, respectively, and for the six months ended December 31, 2025 and 2024, there were weighted average outstanding options to purchase 288,047 and 317,776 shares, respectively, at a weighted average exercise price of $12.02 and $11.85 per share, respectively.  For the quarter ended December 31, 2025 and 2024, 52,876 options and 15,917 options, respectively, were included in the computation of diluted earnings per share. For the six month period ended December 31, 2025 and 2024, 49,700 options and 14,705 options, respectively, were included in the computation of diluted earnings per share.

The following table presents the components of weighted average outstanding shares for purposes of calculating earnings per share:

		Three Months Ended								Six Months Ended
		December 31,								December 31,
		2025				2024				2025				2024
		(In Thousands, Except Per Share Data)
Average common shares issued			6,125				6,125				6,125				6,125
Average unearned ESOP shares			(60	)			(73	)			(61	)			(76	)
Average Company stock purchased			(3,042	)			(2,993	)			(3,048	)			(2,986	)
Weighted average shares outstanding			3,023				3,059				3,016				3,063

27

Index

6. Stock-Based Compensation

Stock Incentive Plans

 On November 12, 2014, the stockholders of the Company approved the adoption of the Company’s 2014 Stock Incentive Plan (the “2014 Stock Incentive Plan”).  On January 31, 2024, the Company granted 4,000 stock options to a key employee, vesting ratably over three years commencing February 1, 2024.  On July 24, 2024, the Company granted 1,600 plan share awards and a total of 23,000 stock options to directors, officers and key employees vesting ratably over five years. The 2014 Stock Incentive Plan cost is recognized over the five-year vesting period. A total of 117,600 stock options granted on October 26, 2015, that were due to expire on October 26, 2025, were exercised in October 2025.  The 2014 Stock Incentive Plan terminated on August 13, 2024; however, the 1,280 unvested plan share awards and 36,000 outstanding options as of December 31, 2025, will remain in effect for the remainder of their five-year vesting and original ten-year terms, respectively.

On November 13, 2019, the stockholders of the Company approved the adoption of the Company’s 2019 Stock Incentive Plan (the “2019 Stock Incentive Plan”).  On July 24, 2024, the Company granted 1,600 stock options to a key employee vesting ratably over five years. The 2019 Stock Incentive Plan costs are recognized over the five-year vesting period. As of December 31, 2025, there are no plan share awards and 800 stock options available for future grant under the 2019 Stock Incentive Plan.  There were no plan share awards and 159,900 outstanding options as of December 31, 2025, under the 2019 Stock Incentive Plan.

On November 19, 2025, the stockholders of the Company approved the adoption of the Company’s 2025 Stock Incentive Plan (the “2025 Stock Incentive Plan,” together with the 2014 Stock Incentive Plan and the 2019 Stock Incentive Plan, the “Stock Incentive Plans”) which provides for a total of 125,000 shares reserved for future issuance as stock awards or stock options. No more than 31,250 shares, or 25%, may be granted as stock awards. The balance of the plan is reserved for stock option awards.  On December 18, 2025, the Company granted a total of 31,250 plan share awards and a total of 92,750 stock options to directors, officers and key employees vesting ratably over five years. The 2025 Stock Incentive Plan costs are recognized over the five-year vesting period. As of December 31, 2025, there are no plan share awards and 1,000 stock options available for future grant under the 2025 Stock Incentive Plan.

For the three months ended December 31, 2025 and 2024, compensation expense charged to operations under the Stock Incentive Plans was $32,000 and $62,000, respectively. For the six months ended December 31, 2025 and 2024, compensation expense charged to operations for stock options granted under the Stock Incentive Plans was $88,000 and $114,000, respectively.

7. Related Party Transactions

In the ordinary course of business, the Bank makes loans to its directors and officers. These loans are made on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other customers and do not involve more than normal credit risk or present other unfavorable features. Certain directors and executive officers were indebted to the Bank in the approximate aggregate amount of $4.612 million and $4.383 million at December 31, 2025 and June 30, 2025.

28

Index

8. Fair Value Disclosures

The following disclosure is made in accordance with the requirements of ASC 825, Financial Instruments. Financial instruments are defined as cash and contractual rights and obligations that require settlement, directly or indirectly, in cash. In cases where quoted market prices are not available, fair values have been estimated using the present value of future cash flows or other valuation techniques. The results of these techniques are highly sensitive to the assumptions used, such as those concerning appropriate discount rates and estimates of future cash flows, which require considerable judgment. Accordingly, estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current settlement of the underlying financial instruments.

ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. These disclosures should not be interpreted as representing an aggregate measure of the underlying value of the Company.

The following methods and assumptions were used by the Company in estimating fair values of financial instruments:

Cash and Cash Equivalents

The carrying amount approximates the fair value of cash and cash equivalents.

Investment Securities

Fair values for investment securities, including mortgage-backed securities, are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying values of restricted or non-marketable equity securities approximate their fair values. The carrying amount of accrued investment income approximates its fair value.

Mortgage Loans Held-for-Sale

Because these loans are normally disposed of within ninety days of origination, their carrying value closely approximates the fair value of such loans.

Loans Receivable

For variable-rate loans that re-price frequently and with no significant changes in credit risk, fair value approximates the carrying value. Fair values for other loans are estimated using the discounted value of expected future cash flows. Interest rates used are those being offered currently for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest receivable approximates its fair value.

Other Real Estate Owned

Other real estate owned, which is obtained through the foreclosure process, is valued utilizing the appraised collateral value. Collateral values are estimated using level II inputs based on observable market data or Level III inputs based on customizing discounting criteria.

Deposit Liabilities

The fair values for demand deposit accounts are, by definition, equal to the amount payable on demand at the reporting date, that is, their carrying amounts. Fair values for other deposit accounts are estimated using the discounted value of expected future cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities.

Advances from Federal Home Loan Bank and Other Borrowings

The carrying amount of short-term borrowings approximates their fair value. The fair value of long-term debt is estimated using discounted cash flow analyses based on current incremental borrowing rates for similar borrowing arrangements.

29

Index

At December 31, 2025 and June 30, 2025, the carrying amount and estimated fair values of the Company’s financial instruments were as follows:

		December 31, 2025
		Carrying				Estimated
		Value				Fair Value				Level 1				Level 2				Level 3
		(In Thousands)
Financial Assets
Cash and Cash Equivalents		$	19,268			$	19,268			$	19,268			$	-			$	-
Debt Securities Available-for-Sale			38,446				38,446				-				38,446				-
Securities Held-to-Maturity			58,238				49,671				-				49,671				-
Other Securities			654				654				-				-				654
Loans Held-for-Sale			861				861				-				861				-
Loans Receivable, Net			471,533				452,092				-				-				452,092
Financial Liabilities
Deposits		$	554,877			$	553,375			$	-			$	553,375			$	-
Other Borrowings			4,000				4,000				-				4,000				-

		June 30, 2025
		Carrying				Estimated
		Value				Fair Value				Level 1				Level 2				Level 3
		(In Thousands)
Financial Assets
Cash and Cash Equivalents		$	17,347			$	17,347			$	17,347			$	-			$	-
Debt Securities Available-for-Sale			34,246				34,246				-				34,246				-
Securities Held-to-Maturity			61,334				51,139				-				51,139				-
Other Securities			650				650				-				-				650
Loans Held-for-Sale			1,540				1,540				-				1,540				-
Loans Receivable, Net			461,004				440,812				-				-				440,812
Financial Liabilities
Deposits		$	546,290			$	544,944			$	-			$	544,944			$	-
Other Borrowings			4,000				4,000				-				4,000				-

30

Index

The Company follows the guidance of FASB ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 affirms a framework for measuring fair value and expands disclosures about fair value measurements.

ASC 820 was issued to establish a uniform definition of fair value. The definition of fair value is market-based as opposed to company-specific and includes the following:

● Defines fair value as the price that would be received to sell an asset or paid to transfer a liability, in either case, through an orderly transaction between market participants at a measurement date and establishes a framework for measuring fair value;

● Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date;

● Nullifies the guidance in EITF 02-3, which required the deferral of profit at inception of a transaction involving a derivative financial instrument in the absence of observable data supporting the valuation technique;

● Eliminates large position discounts for financial instruments quoted in active markets and requires consideration of the company’s creditworthiness when valuing liabilities; and

● Expands disclosures about instruments that are measured at fair value.

The standard establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy favors the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

● Level 1 – Fair value is based upon quoted prices unadjusted for identical assets or liabilities in active markets in which the Company can participate.

● Level 2 – Fair value is based upon (a) quoted prices for similar assets or liabilities in active markets; (b) quoted prices for identical or similar assets or liabilities in markets that are not active, that is, markets in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly; (c) inputs other than quoted prices that are observable for the asset or liability; or (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means.

● Level 3 – Fair value is based upon inputs that are unobservable for the asset or liability.  These inputs reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk).  These inputs are developed based on the best information available in the circumstances, which include the Company’s own data. The Company’s own data used to develop unobservable inputs are adjusted if information indicates that market participants would use different assumptions.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The preceding methods described may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used during the six months ended December 31, 2025.

31

Index

Fair values of assets and liabilities measured on a recurring basis at December 31, 2025 and June 30, 2025 are as follows:

		Fair Value Measurements
December 31, 2025		(Level 1)				(Level 2)				(Level 3)				Total
		(In Thousands)
Available-for-Sale
Debt Securities
FHLMC		$	-			$	11,431			$	-			$	11,431
FNMA			-				20,085				-				20,085
GNMA			-				6,930				-				6,930
Total		$	-			$	38,446			$	-			$	38,446

		Fair Value Measurements
June 30, 2025		(Level 1)				(Level 2)				(Level 3)				Total
		(In Thousands)
Available-for-Sale
Debt Securities
FHLMC		$	-			$	10,431			$	-			$	10,431
FNMA			-				17,961				-				17,961
GNMA			-				5,489				-				5,489
Municipal Bonds			-				365				-				365
Total		$	-			$	34,246			$	-			$	34,246

32

Index

Fair values of assets and liabilities measured on a non-recurring basis at December 31, 2025 and June 30, 2025 are as follows:

		Fair Value Measurements
December 31, 2025		(Level 1)				(Level 2)				(Level 3)				Total
		(In Thousands)
Assets:
Impaired Loans		$	-			$	-			$	1,287			$	1,287
Other Real Estate Owned			-				-				809				809
Total		$	-			$	-			$	2,096			$	2,096

		Fair Value Measurements
June 30, 2025		(Level 1)				(Level 2)				(Level 3)				Total
		(In Thousands)
Assets:
Impaired Loans		$	-			$	-			$	2,502			$	2,502
Other Real Estate Owned			-				-				970				970
Total		$	-			$	-			$	3,472			$	3,472

33

Index

9. Leases

A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches with terms extending through 2058. Substantially all of the Company’s leases are classified as operating leases, and therefore, were previously not recognized on the Company’s consolidated statements of condition. Right-of-use (“ROU”) assets and corresponding lease liabilities are recognized on the consolidated statements of condition under other assets and other accrued expenses and liabilities, respectively.

At December 31, 2025 and June 30, 2025, the carrying amounts of the ROU assets and corresponding lease liabilities were as follows:

(In Thousands)			December 31, 2025				June 30, 2025
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other Assets		$	792			$	799
Total Lease Right-of-Use Assets			$	792			$	799
Lease Liabilities
Operating lease liabilities	Other Accrued Expenses and Liabilities		$	854			$	856
Total Lease Liabilities			$	854			$	856

The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term.

			December 31, 2025			June 30, 2025
Weighted-average remaining lease term
Operating leases			32.9 years			33.4 years
Weighted-average discount rate
Operating leases			3.00%			3.00%

34

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The Company’s results of operations are primarily dependent on the results of Home Federal Bank (the “Bank”), its wholly owned subsidiary. The Bank’s results of operations depend, to a large extent, on net interest income, which is the difference between the income earned on its loan and investment portfolios and the cost of funds, consisting of the interest paid on deposits and borrowings. Results of operations are also affected by provisions for loan losses and loan sale activities. Non-interest expense principally consists of compensation and employee benefits, office occupancy and equipment expense, data processing, and other expenses. Our results of operations are also significantly affected by general economic and competitive conditions, particularly changes in interest rates, government policies, and actions of regulatory authorities. Future changes in applicable law, regulations, or government policies may materially impact our financial condition and results of operations.

The Bank operates from its main office in Shreveport, Louisiana and ten full-service branch offices located in Shreveport, Bossier City, Benton and Minden, Louisiana. The Company’s primary market area is the Shreveport-Bossier City-Minden combined statistical area.

Critical Accounting Policies

The accounting and financial reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Accordingly, the consolidated financial statements require certain estimates, judgments, and assumptions, which are believed to be reasonable, based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the periods presented. Critical accounting policies comprise those that management believes are the most critical to aid in fully understanding and evaluating our reported financial results. These policies require numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the period or in future periods.

There were no changes made to the Company’s internal control over financial reporting that occurred during the quarter ended December 31, 2025 that materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Allowance for Credit Losses.  The Company has identified the calculation of the allowance for credit losses as a critical accounting policy, due to the higher degree of judgment and complexity than its other significant accounting policies.

Income Taxes. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax basis of the various assets and liabilities and gives current recognition to changes in tax rates and laws. The realization of our deferred tax assets principally depends upon our achieving projected future taxable income. We may change our judgments regarding future profitability due to future market conditions and other factors. We may adjust our deferred tax asset balances, if our judgments change.

35

Index

Discussion of Financial Condition Changes from June 30, 2025 to December 31, 2025

General

Total assets increased $11.957 million, or 2.0%, from $609.492 million at June 30, 2025 to $621.449 million at December 31, 2025. The increase in assets resulted from increases in net loans receivable of $10.529 million, or 2.3%, from $461.004 million at June 30, 2025 to $471.533 million at December 31, 2025, cash and cash equivalents of $1.921 million, or 11.1%, from $17.347 million at June 30, 2025 to $19.268 million at December 31, 2025, investment securities of $1.108 million, or 1.2%, from $96.230 million at June 30, 2025 to $97.338 million at December 31, 2025, bank owned life insurance of $58,000, or 0.8%, from $6.926 million at June 30, 2025 to $6.984 million at December 31, 2025, and accrued interest receivable of $37,000, or 2.0%, from $1.836 million at June 30, 2025 to $1.873 million at December 31, 2025, partially offset by decreases in loans-held-for-sale of $679,000, or 44.1%, from $1.540 million at June 30, 2025 to $861,000 at December 31, 2025, premises and equipment of $514,000, or 3.0%, from $17.266 million at June 30, 2025 to $16.752 million at December 31, 2025, deferred tax asset of $181,000, or 15.6%, from $1.163 million at June 30, 2025 to $982,000 at December 31, 2025, real estate owned of $161,000, or 16.6% from $970,000 at June 30, 2025 to $809,000 at December 31, 2025, core deposit intangible of $131,000, or 14.3%, from $915,000 at June 30, 2025 to $784,000 at December 31, 2025, and other assets of $30,000, or 2.3%, from $1.305 million at June 30, 2025 to $1.275 million at December 31, 2025.

Cash and Cash Equivalents

Cash and cash equivalents increased $1.921 million, or 11.1%, from $17.347 million at June 30, 2025 to $19.268 million at December 31, 2025. The increase in cash and cash equivalents was primarily due to increases in deposits.

Loans Receivable, Net

Loans receivable, net, increased by $10.529 million, or 2.3%, to $471.533 million at December 31, 2025 compared to $461.004 million at June 30, 2025. The increase in loans receivable, net was primarily due to increases in land loans of $23.764 million, equity line-of-credit loans of $1.215 million, and equity and second mortgage loans of $403,000, partially offset by decreases in construction loans of $6.791 million, one-to-four-family residential loans of $5.656 million, commercial real estate loans of $2.039 million, consumer loans of $266,000, multi-family residential loans of $120,000, and commercial non-real estate loans of $18,000.

Loans Held-for-Sale

Loans held-for-sale decreased $679,000, from $1.540 million at June 30, 2025 to $861,000 at December 31, 2025.The decrease in loans held-for-sale is primarily due to normal timing differences in our loan origination and sale activities.

Investment Securities

Investment securities amounted to $97.338 million at December 31, 2025, compared to $96.230 million at June 30, 2025, an increase of $1.108 million, or 1.2%. The increase in investment securities was primarily due to security purchases of $6.547 million and a $698,000 decrease in market value losses on available-for-sale securities, partially offset by $6.306 million of principal repayments on mortgage backed securities.

Premises and Equipment, Net

Premises and equipment, net decreased $514,000, or 3.0%, to $16.752 million at December 31, 2025 compared to $17.266 million at June 30, 2025, due to depreciation.

36

Index

Asset Quality

At December 31, 2025, the Company had $2.533 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 $3.305 million of non-performing assets at June 30, 2025, consisting of nine one-to-four family residential loans, three home equity loans, two commercial non-real estate loans, one commercial real estate loan, one land loan, one consumer loan, and one commercial real estate property in other real estate owned at December 31, 2025, compared to six one-to-four family residential loans, two home equity loans, three commercial non-real estate loans, two commercial real estate loans and one single-family residence in other real estate owned at June 30, 2025. At December 31, 2025 the Company had six one-to-four family residential loans, three home equity loans, two commercial non-real estate loans, two consumer loans, one commercial real estate loan, and one land loan classified as substandard, compared to eight one-to-four family residential loans, five commercial non-real estate loans, two home equity loans, two commercial real estate loans and one consumer loan classified as substandard at June 30, 2025. There were no loans classified as doubtful at December 31, 2025 or June 30, 2025.

Total Liabilities

Total liabilities increased $9.413 million, or 1.7%, from $554.287 million at June 30, 2025 to $563.700 million at December 31, 2025. The increase in liabilities resulted from increases in total deposits of $8.587 million, or 1.6%, from $546.290 million at June 30, 2025 to $554.877 million at December 31, 2025, and other accrued expenses and liabilities of $976,000, or 28.3%, from $3.454 million at June 30, 2025 to $4.430 million at December 31, 2025, partially offset by a decrease in advances from borrowers for taxes and insurance of $150,000, or 27.6%, from $543,000 at June 30, 2025 to $393,000 at December 31, 2025. The increase in deposits resulted from increases in certificates of deposit of $11.334 million, or 6.0%, from $187.357 million at June 30, 2025 to $198.691 million at December 31, 2025, non-interest deposits of $5.430 million, or 4.4%, from $122.416 million at June 30, 2025 to $127.846 million at December 31, 2025, and NOW accounts of $630,000, or 0.9%, from $67.119 million at June 30, 2025 to $67.749 million at December 31, 2025, partially offset by decreases in money market deposits of $7.661 million, or 10.4%, from $73.771 million at June 30, 2025 to $66.110 million at December 31, 2025, and savings deposits of $1.146 million, or 1.2%, from $95.627 million at June 30, 2025 to $94.481 million at December 31, 2025. The Company had no balances in brokered deposits at December 31, 2025 or June 30, 2025.

Stockholders’ Equity

Stockholders’ equity increased $2.544 million, or 4.6%, from $55.205 million at June 30, 2025 to $57.749 million at December 31, 2025. The increase in stockholders’ equity resulted from net income for the six months ended December 31, 2025 of $3.274 million, proceeds from the issuance of common stock from the exercise of stock options of $1.589 million, a decrease in the Company’s accumulated other comprehensive loss of $551,000, and the vesting of share awards, stock options, and the release of employee stock ownership plan shares totaling $233,000, partially offset by stock repurchases of $2.270 million and dividends paid totaling $833,000.

Regulatory Capital

The Bank is required to meet minimum capital standards promulgated by the Office of the Comptroller of the Currency (“OCC”). At December 31, 2025, Home Federal Bank’s regulatory capital was well in excess of the minimum capital requirements. At December 31, 2025, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.39%, 13.39%, 14.42%, 9.36%, and 9.36%, respectively.

37

Index

Comparison of Operating Results for the Three and Six Months Ended December 31, 2025 and 2024

General

The increase in net income for the three months ended December 31, 2025, as compared to the same period in 2024, primarily resulted from an increase of $777,000, or 16.9%, in net interest income, an increase of $150,000, or 30.7%, in non-interest income, and a decrease of $43,000, or 1.1%, in non-interest expense, partially offset by an increase of $251,000, or 134.2%, in the provision for income taxes, and an increase of $64,000, or 142.2%, in the provision for credit losses.

The increase in net income for the six months ended December 31, 2025, as compared to the same period in 2024 resulted primarily from an increase of $1.612 million, or 17.9%, in net interest income, an increase of $500,000, or 63.5%, in non-interest income, and a decrease of $202,000, or 2.6%, in non-interest expense, partially offset by an increase of $671,000, or 362.7%, in provision for income taxes and an increase of $330,000, or 185.4%, in the provision for credit losses.

Net Interest Income

The increase in net interest income for the three months ended December 31, 2025, as compared to the same period in 2024, resulted from an increase of $405,000, or 5.3%, in total interest income and a decrease of $372,000, or 12.2%, in total interest expense. The Company’s average interest rate spread was 3.03% for the three months ended December 31, 2025, compared to 2.41% for the three months ended December 31, 2024. The Company’s net interest margin was 3.67% for the three months ended December 31, 2025, compared to 3.12% for the three months ended December 31, 2024.

The increase in net interest income for the six months ended December 31, 2025, as compared to the same period in 2024, was primarily due to a decrease of $938,000, or 14.7%, in total interest expense and an increase of $674,000, or 4.4%, in total interest income. The Company’s average interest rate spread was 3.01% for the six months ended December 31, 2025, compared to 2.32% for the six months ended December 31, 2024. The Company’s net interest margin was 3.65% for the six months ended December 31, 2025, compared to 3.06% for the six months ended December 31, 2024.

Provision for Credit Losses

The provision for credit losses for the three months ended December 31, 2025, compared to the same period in 2024, increased by $64,000 primarily due to an increase in net loans receivable. The provision for credit losses for the six months ended December 31, 2025, compared to the same period in 2024, increased by $330,000, reflecting a change from a $178,000 recovery in the prior year period to a $152,000 provision in the current period, primarily due to higher net loans receivable.

Non-interest Income

The $150,000 increase in non-interest income for the three months ended December 31, 2025, compared to the prior year quarterly period, resulted from an increase of $125,000 in gain on sale of loans, an increase of $44,000 in service charges on deposit accounts, a decrease of $6,000 in loss on sale of securities, and a decrease of $4,000 in loss on sale of real estate, partially offset by a decrease of $29,000 in other non-interest income. The $500,000 increase in non-interest income for the six months ended December 31, 2025, compared to the prior year six-month period, resulted primarily from a decrease of $258,000 in loss on sale of real estate, an increase of $175,000 in gain on sale of loans, an increase of $76,000 in service charges on deposit accounts, and a decrease of $6,000 in loss on sale of securities, partially offset by a decrease of $15,000 in other non-interest income. The $266,000 loss on sale of real estate for the prior year six-month period related to a one-to-four family residence in other real estate owned that was sold during the period.

38

Index

Non-interest Expense

The $43,000 decrease in non-interest expense for the three months ended December 31, 2025, compared to the same period in 2024, resulted from decreases of $128,000 in compensation and benefits expense, $81,000 in audit and examination fees, $20,000 in advertising expense, $18,000 in data processing expense, and $8,000 in amortization of core deposit intangible expense, partially offset by increases of $108,000 in other non-interest expense, $53,000 in franchise and bank shares tax, $21,000 in occupancy and equipment expense, $16,000 in professional fees, $9,000 in deposit insurance premium expense, and $5,000 in loan and collection expense. The $202,000 decrease in non-interest expense for the six months ended December 31, 2025, compared to the same six-month period in 2024, resulted from decreases of $280,000 in compensation and benefits expense, $144,000 in audit and examination fees, $48,000 in advertising expense, $16,000 in professional fees, and $15,000 in amortization of core deposit intangible expense, partially offset by increases of $125,000 in other non-interest expense, $100,000 in data processing expense, $25,000 in occupancy and equipment expense, $20,000 in franchise and bank shares tax, $19,000 in loan and collection expense, and $12,000 in deposit insurance premium expense. The increase in data processing expense resulted from a billing discrepancy with our core processor, which had failed to issue invoices for certain services dating back to December 2022. Upon discovery of the issue, we negotiated a discounted settlement to resolve the outstanding invoices, and all invoices going forward included all services. The increase in services billed resulted in the increase for the six months ended December 31, 2025.

The aggregate compensation expense recognized by the Company for its Stock Options, Share Awards and employee stock ownership plan, amounted to $170,000 and $217,000 for the three months ended December 31, 2025 and December 31, 2024, respectively. The aggregate compensation expense recognized by the Company for its Stock Options, Share Awards and employee stock ownership plan, amounted to $233,000 and $310,000 for the six months ended December 31, 2025 and December 31, 2024, respectively.

The Louisiana bank shares tax is assessed on the Bank’s equity and earnings. For the three months ended December 31, 2025, the Company recognized franchise and bank shares tax expense of $54,000 compared to $1,000, for the same period in 2024. For the six months ended December 31, 2025, the Company recognized franchise and bank shares tax expense of $189,000 compared to $169,000, for the same period in 2024.

Income Taxes

There was an income tax expense of $438,000 and $856,000 for the three and six months ended December 31, 2025, respectively, resulting in an effective tax rate of 20.7%, for both periods. There was an income tax expense of $187,000 and $185,000 for the three and six months ended December 31, 2024, respectively, resulting in an effective tax rate of 15.5% and 8.6%, respectively.

39

Index

Average Balances, Net Interest Income, Yields Earned, and Rates Paid. The following tables show for the periods indicated the total dollar amount of interest from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Tax-exempt income and yields have not been adjusted to a tax-equivalent basis. All average balances are based on monthly balances. Management does not believe that the monthly averages differ significantly from what the daily averages would be.

		Three Months Ended December 31,
						2025												2024
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
		(Dollars in Thousands)
Interest-earning assets:
Loans receivable		$	469,399			$	7,339				6.20	%		$	457,553			$	6,791				5.89	%
Investment securities			97,464				561				2.28				96,715				533				2.19
Interest-earning deposits			14,517				163				4.45				29,653				334				4.47
Total interest-earning assets		$	581,380			$	8,063				5.50	%		$	583,921			$	7,658				5.20	%
Non-interest-earning assets			39,159												38,947
Total assets		$	620,539											$	622,868
Interest-bearing liabilities:
Savings accounts		$	92,242			$	360				1.55	%		$	90,696			$	390				1.71	%
NOW accounts			65,317				185				1.12				70,685				224				1.26
Money market accounts			69,429				335				1.91				79,365				443				2.21
Certificate accounts			199,753				1,733				3.44				188,929				1,921				4.03
Total interest-bearing deposits			426,741				2,613				2.43				429,675				2,978				2.75
Other borrowings			4,002				73				7.24				4,489				81				7.16
FHLB advances			-				-				-				-				-				-
Total interest-bearing liabilities		$	430,743			$	2,686				2.47	%		$	434,164			$	3,059				2.80	%
Non-interest-bearing liabilities:
Non-interest-bearing demand accounts			127,577												131,671
Other liabilities			4,646												4,889
Total liabilities			562,966												570,724
Total stockholders’ equity (1)			57,573												52,144
Total liabilities and stockholders’ equity		$	620,539											$	622,868
Net interest-earning assets		$	150,637											$	149,757
Net interest income; average interest rate spread(2)						$	5,377				3.03	%						$	4,599				2.41	%
Net interest margin(3)											3.67	%											3.12	%
Average interest-earning assets to average interest-bearing liabilities											134.97	%											134.49	%

(1) Includes retained earnings and accumulated other comprehensive loss.

(2) Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate on interest-bearing liabilities.

(3) Net interest margin is net interest income divided by net average interest-earning assets.

40

Index

		Six Months Ended December 31,
		2025												2024
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
		(Dollars In Thousands)
Interest-earning assets:
Loans receivable		$	466,666			$	14,610				6.21	%		$	461,531			$	13,686				5.88	%
Investment securities			96,927				1,116				2.28				96,732				1,043				2.14
Interest-earning deposits			14,812				347				4.65				27,635				670				4.81
Total interest-earning assets		$	578,405			$	16,073				5.51	%		$	585,898			$	15,399				5.21	%
Non-interest-earning assets			39,476												39,788
Total assets		$	617,881											$	625,686
Interest-bearing liabilities:
Savings accounts		$	93,172			$	760				1.62	%		$	86,626			$	726				1.66	%
NOW accounts			65,559				373				1.13				71,736				425				1.18
Money market accounts			71,514				719				1.99				77,290				892				2.29
Certificate accounts			196,885				3,434				3.46				196,443				4,132				4.17
Total interest-bearing deposits			427,130				5,286				2.45				432,095				6,175				2.83
Other borrowings			4,001				149				7.39				5,239				198				7.50
FHLB advances			-				-				-				-				-				-
Total interest-bearing liabilities		$	431,131			$	5,435				2.50	%		$	437,334			$	6,373				2.89	%
Non-interest-bearing liabilities:
Non-interest-bearing demand accounts			125,489												131,541
Other liabilities			4,594												4,939
Total liabilities			561,214												573,814
Total stockholders’ equity(1)			56,667												51,872
Total liabilities and stockholders’ equity		$	617,881											$	625,686
Net interest-earning assets		$	147,274											$	148,564
Net interest income; average interest rate spread(2)						$	10,638				3.01	%						$	9,026				2.32	%
Net interest margin(3)											3.65	%											3.06	%
Average interest-earning assets to average interest-bearing liabilities											134.16	%											133.97	%

(1) Includes retained earnings and accumulated other comprehensive loss.

(2) Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate on interest-bearing liabilities.

(3) Net interest margin is net interest income divided by net average interest-earning assets.

41

Index

Liquidity and Capital Resources

The Bank maintains levels of liquid assets deemed adequate by management. The Bank adjusts its liquidity levels to fund deposit outflows, repay its borrowings, and to fund loan commitments. The Bank also adjusts liquidity as appropriate to meet asset and liability management objectives.

The Bank’s primary sources of funds are deposits, amortization and prepayment of loans and mortgage-backed securities, maturities of investment securities and other short-term investments, loan sales, and earnings and funds provided from operations. While scheduled principal repayments on loans and mortgage-backed securities are a relatively predictable source of funds, deposit flows and loan prepayments are greatly influenced by general interest rates, economic conditions, and competition. The Bank sets the interest rates on its deposits to maintain a desired level of total deposits. In addition, the Bank invests excess funds in short-term interest-earning accounts and other assets which provide liquidity to meet lending requirements. The Bank’s deposit accounts with the Federal Home Loan Bank of Dallas amounted to $7.105 million at December 31, 2025.

A significant portion of the Bank’s liquidity consists of securities classified as available-for-sale and cash and cash equivalents. The Bank’s primary sources of cash are net income, principal repayments on loans and mortgage-backed securities, and increases in deposit accounts. If the Bank requires funds beyond its ability to generate them internally, borrowing agreements exist with the Federal Home Loan Bank of Dallas which provides an additional source of funds. At December 31, 2025, The Bank had no advances from the Federal Home Loan Bank of Dallas and had $132.590 million in borrowing capacity. Additionally, at December 31, 2025, the Bank was a party to a Master Purchase Agreement with First National Bankers Bank whereby Home Federal Bank may purchase Federal Funds from First National Bankers Bank in an amount not to exceed $19.900 million. There were no amounts purchased under this agreement as of December 31, 2025. At December 31, 2025, Home Federal Bancorp had a $4.000 million outstanding loan with First National Bankers Bank, which matures on February 5, 2034.

At December 31, 2025, the Bank had outstanding loan commitments of $56.086 million to originate loans and commitments under unused lines of credit of $12.432 million. At December 31, 2025, certificates of deposit scheduled to mature in less than one year totaled $137.396 million. Based on prior experience, management believes that a significant portion of such deposits will remain with us, although there can be no assurance that this will be the case. The Bank intends to utilize its high levels of liquidity to fund its lending activities. If additional funds are required to fund lending activities, Home Federal Bank intends to sell its securities classified as available-for-sale, as needed.

At December 31, 2025, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.39%, 13.39%, 14.42%, 9.36%, and 9.36%, respectively.

Off-Balance Sheet Arrangements

At December 31, 2025, the Company did not have any off-balance sheet arrangements as defined by Securities and Exchange Commission rules.

42

Index

Impact of Inflation and Changing Prices

The financial statements and related financial data presented herein have been prepared in accordance with instructions to Form 10-Q which require the measurement of financial position and operating results in terms of historical dollars without considering changes in relative purchasing power over time due to inflation.

Unlike most industrial companies, virtually all of the Company’s assets and liabilities are monetary in nature. As a result, interest rates generally have a more significant impact on a financial institution’s performance than does the effect of inflation.

Forward-Looking Statements

This Form 10-Q contains certain forward-looking statements and information relating to the Company that are based on the beliefs of management, as well as assumptions made by and information currently available to management. In addition, in those and other portions of this document the words “anticipate”, “believe”, “estimate”, “except”, “intend”, “should”, and similar expressions, or the negative thereof, as they relate to the Company or the Company’s management are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future looking events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary from those described herein as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.

In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this Form 10-Q, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Company’s loans, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosures Controls and Procedures. Under the supervision and with the participation of our management including our President and Chief Executive Officer (principal executive officer) and our Chief Financial Officer (principal financial officer), we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) as of the end of the period covered by this report. Based upon that evaluation, the President and Chief Executive Officer and the Chief Financial Officer have concluded that, as of the end of the period covered by this report, our disclosure controls and procedures are effective to ensure that information required to be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized, and reported within the applicable time periods specified by the Securities and Exchange Commission’s rules and forms.

Changes in Internal Control over Financial Reporting. There has been no change in the Company’s internal control over financial reporting during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

43

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

PART II

ITEM 1. LEGAL PROCEEDINGS

The Company is not involved in any pending legal proceedings other than routine legal proceedings occurring in the ordinary course of business which involve amounts in the aggregate believed by management to be immaterial to the financial condition of the Company.

ITEM 1A. RISK FACTORS

Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)   Not applicable.

(b)   Not applicable.

(c)   Purchases of Equity Securities

The table below sets forth the Company’s repurchases of its common stock made during the quarter ended December 31, 2025, are set forth in the table below, including stock-for-stock option exercises.

Period		Total Number of Shares Purchased					Average Price Paid per Share				Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs				Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs (a)(b)
October 1, 2025 - October 31, 2025			95,708					14.19				11,578				108,038
November 1, 2025 - November 30, 2025			12,908					15.76				12,908				95,130
December 1, 2025 - December 31, 2025			26,583					16.10				13,421				81,709
Total			135,199	(c)				14.72				37,907				81,709

Notes to this table:

(a) On November 1, 2024, the Company announced that its Board of Directors approved the thirteenth stock repurchase program for the repurchase of up to 100,000 shares. The thirteenth stock repurchase program was completed on November 28, 2025.

(b) On October 15, 2025, the Company announced that its Board of Directors approved the fourteenth stock repurchase program for the repurchase of up to 100,000 shares. The fourteenth stock repurchase program does not have an expiration date.

(c) Includes an aggregate of 97,292 shares delivered on exercise of stock options in stock-for-stock option exercises during the quarter that are not a part of the publicly announced repurchase programs.

44

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Not applicable.

ITEM 6. EXHIBITS

No.		Description
31.1		Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
31.2		Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
32.0		Certification Pursuant to 18 U.S.C Section 1350
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definitions Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

45

Index

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	HOME FEDERAL BANCORP, INC. OF LOUISIANA
Date: February 12, 2026	By:	/s/ Brad Ezernack
		Brad Ezernack
		Executive Vice President and Chief Financial Officer
		(Duly authorized officer and principal financial and accounting officer)

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FAQ

How did HFBL’s net income change for the quarter ended December 31, 2025?

Net income for HFBL rose to $1.675 million for the three months ended December 31, 2025, compared with $1.020 million a year earlier. This improvement was driven mainly by higher net interest income and stronger non‑interest income, while non‑interest expenses remained essentially flat.

What were Home Federal Bancorp (HFBL) earnings per share for the quarter and year-to-date?

For the quarter, HFBL reported basic earnings per share of $0.55 and diluted earnings per share of $0.54. For the six months ended December 31, 2025, basic earnings per share were $1.09 and diluted earnings per share were $1.07, all higher than the prior year.

How did HFBL’s net interest income perform in the latest quarter?

Net interest income increased to $5.377 million for the quarter ended December 31, 2025, up from $4.600 million a year earlier. Higher interest income on loans and mortgage‑backed securities, combined with lower deposit interest expense, contributed to this improvement in core banking earnings.

What is Home Federal Bancorp’s asset and loan size as of December 31, 2025?

As of December 31, 2025, HFBL reported total assets of $621.449 million. Net loans receivable were $471.533 million, up from $461.004 million at June 30, 2025, reflecting continued loan growth across real estate and commercial portfolios in its Louisiana markets.

How strong is HFBL’s deposit base at December 31, 2025?

Total deposits reached $554.877 million at December 31, 2025, compared with $546.290 million at June 30, 2025. Non‑interest‑bearing deposits were $127.846 million, while interest‑bearing deposits totaled $427.031 million, providing diversified funding for the bank’s loan portfolio.

What is the level of HFBL’s allowance for credit losses on loans?

The allowance for credit losses on loans was $4.442 million at December 31, 2025, slightly lower than $4.484 million at June 30, 2025. This reserve covers expected lifetime losses on the $476.085 million loan portfolio, which showed limited net charge‑offs during the six‑month period.

How did unrealized losses on HFBL’s securities affect equity?

Unrealized losses on securities are reflected in accumulated other comprehensive income. At December 31, 2025, accumulated other comprehensive loss improved to $(1.383) million from $(1.934) million at June 30, 2025, as market values of mortgage‑backed securities partially recovered with interest rate movements.