Home Federal Bancorp(HFBL) Globenewswire·2025-05-01 20:30Core Viewpoint - Home Federal Bancorp, Inc. of Louisiana reported a slight increase in net income for the three months ended March 31, 2025, compared to the same period in 2024, but a decrease in net income for the nine months ended March 31, 2025, compared to the prior year period Financial Performance - Net income for the three months ended March 31, 2025, was $748,000, up from $732,000 for the same period in 2024 [1] - Basic and diluted earnings per share remained at $0.24 for the three months ended March 31, 2025, consistent with the same period in 2024 [1] - Net income for the nine months ended March 31, 2025, was $2.7 million, down from $3.0 million for the same period in 2024 [1] - Basic and diluted earnings per share for the nine months ended March 31, 2025, were $0.88 compared to $0.97 and $0.95 for the same period in 2024 [1] Income and Expense Analysis - The increase in net income for the three months ended March 31, 2025, was primarily due to a $270,000 (6.1%) increase in net interest income and a $32,000 (6.3%) increase in non-interest income [2] - The decrease in net income for the nine months ended March 31, 2025, was mainly due to an $891,000 (6.1%) decrease in net interest income and a $102,000 (35.2%) increase in the provision for income taxes [3] - Non-interest expense increased by $260,000 (6.5%) for the three months ended March 31, 2025, primarily due to higher data processing and occupancy expenses [8] Interest Income and Expense - Total interest income for the three months ended March 31, 2025, was $7.425 million, down from $7.890 million in 2024 [22] - Total interest expense decreased to $2.751 million for the three months ended March 31, 2025, from $3.486 million in 2024 [22] - The average interest rate spread improved to 2.66% for the three months ended March 31, 2025, compared to 2.16% for the same period in 2024 [23] Asset and Liability Management - Total assets decreased by $17.9 million (2.8%) from $637.5 million at June 30, 2024, to $619.6 million at March 31, 2025 [9] - Total liabilities decreased by $19.8 million (3.4%) from $584.7 million at June 30, 2024, to $564.9 million at March 31, 2025 [11] - Total deposits decreased by $17.2 million (3.0%) from $574.0 million at June 30, 2024, to $556.8 million at March 31, 2025 [11] Shareholders' Equity - Shareholders' equity increased by $1.9 million (3.6%) from $52.8 million at June 30, 2024, to $54.7 million at March 31, 2025 [13] - Book value per share increased to $17.55 at March 31, 2025, from $16.80 at June 30, 2024 [6] Asset Quality - Non-performing assets increased to $3.0 million at March 31, 2025, from $1.9 million at June 30, 2024 [12] - The allowance for credit losses as a percentage of total loans receivable was 1.00% at March 31, 2025, compared to 0.97% at June 30, 2024 [23]