Home Federal Bancorp Q2 net income $1.0M, down 41% YoY; net interest margin contracts

Home Federal Bancorp, Inc. of Louisiana

2024-Q2 EPS reported $0.72

Net income $1.0M ($0.33 EPS) vs $1.7M ($0.57) prior year quarter; six-month net income $2.2M vs $3.4M.
Net interest margin fell to 3.14% (quarter) from 3.91% as interest expense rose $2.4M vs interest income up $2.0M.
Nonperforming assets increased to $2.2M (0.34% assets) from $1.6M (0.24%) at June 30; non-interest expense up $693K.
Total deposits decreased $13.7M to $583.7M, partly due to a $24.2M estate settlement; loans grew $12.3M to $501.8M.
CECL adoption on July 1 added $189K to allowance for credit losses and reduced equity $149K net of tax.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Home Federal Bancorp, Inc. of Louisiana reported the three and six months ended December 31, 2023 results: net income $1.0 million, EPS $0.33.

Period: the three and six months ended December 31, 2023
Net income: $1.0 million
EPS: $0.33
Result: reported results

Exact text from the filing

reported net income for the three months ended December 31, 2023, of $1.0 million compared to net income of $1.7 million reported for the three months ended December 31, 2022. The Company’s basic and diluted earnings per share were $0.33 for the three months ended December 31, 2023

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Source: SEC EDGAR

accession 0000927089-24-000019

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