Home Federal Bancorp(HFBL) - 2026 Q1 - Quarterly Report

Financial Performance - Net income for the quarter was $1,599,000, up from $941,000 in the prior year, reflecting a year-over-year growth of 70%[11] - Earnings per share (EPS) increased to $0.53 for the quarter, compared to $0.31 in the same quarter of 2024, representing a growth of 70.9%[11] - Total comprehensive income for the quarter was $1,994,000, slightly up from $1,943,000 in the same period last year, reflecting a growth of 2.6%[13] - Net cash provided by operating activities increased significantly to $2,776,000 from $871,000 year-over-year, marking a growth of 218%[18] - The company paid dividends totaling $415,000, slightly up from $409,000 in the previous year[20] Asset and Deposit Growth - Total assets increased to $622,630,000 as of September 30, 2025, up from $609,492,000 on June 30, 2025, representing a growth of 2.1%[7] - Total deposits increased to $557,188,000 as of September 30, 2025, compared to $546,290,000 at the end of June 2025, marking a rise of 2%[8] - The net increase in deposits was $10,898,000, a substantial recovery from a decrease of $9,447,000 in the previous year[20] - Non-interest bearing deposits rose to $127.441 million as of September 30, 2025, up from $122.416 million on June 30, 2025, indicating an increase of approximately 4.2%[108] Income and Interest - Net interest income rose to $5,261,000 for the three months ended September 30, 2025, compared to $4,427,000 for the same period in 2024, an increase of 18.8%[11] - Total interest income rose to $8,010,000 for the three months ended September 30, 2025, compared to $7,741,000 in the prior year, marking an increase of 3.5%[11] - The company's interest paid on deposits and borrowed funds was $2,694,000, down from $3,291,000 in the previous year[20] Credit Losses and Provisions - The provision for credit losses was $43,000 for the quarter, a recovery compared to a provision of $(223,000) in the same period last year[11] - The provision for loan losses showed a recovery of $43,000 compared to a loss of $223,000 in the same quarter last year[18] - The allowance for credit losses decreased from $4.574 million on June 30, 2025, to $4.387 million on September 30, 2025, a reduction of about 4.1%[102] Securities and Investments - The company reported unrealized gains on securities available for sale of $501,000 for the quarter, compared to $1,268,000 in the same quarter last year[13] - The Company has a total of $39,277,000 in available-for-sale securities, with gross unrealized gains of $189,000 and gross unrealized losses of $2,137,000, resulting in a fair value of $37,329,000[72] - The total held-to-maturity securities amount to $59,794,000, with gross unrealized losses of $8,953,000, leading to a fair value of $50,841,000[72] Loan Portfolio - As of September 30, 2025, the total loans receivable amounted to $468.837 million, an increase from $465.593 million as of June 30, 2025, reflecting a growth of approximately 0.5%[80] - The net loans receivable after allowances for credit losses was $464.356 million as of September 30, 2025, compared to $461.004 million at June 30, 2025, indicating a slight increase of about 0.5%[80] - The total amount of "Pass" loans for one-to-four family residential properties was $164,367,000 in 2025, reflecting a strong position in this segment[93] Tax and Regulatory Compliance - The Company accounts for income taxes using the asset and liability method, with deferred tax assets and liabilities recorded based on the difference between tax basis and carrying amounts[61] - The Company is subject to the Louisiana Ad Valorem Tax based on stockholders' equity and net income[63] Shareholder Information - Total stockholders' equity rose to $56,591,000 as of September 30, 2025, up from $55,205,000 at the end of June 2025, an increase of 2.5%[9] - Basic earnings per share for the three months ended September 30, 2025, was $0.53, up from $0.31 in 2024, reflecting a growth of 71%[109] - The weighted average shares outstanding decreased from 3,058,000 in 2024 to 3,008,000 in 2025, a reduction of approximately 1.6%[110]