Private company
HMN FINANCIAL INC
HMN FINANCIAL INC is an American savings institution company based in Rochester.1
Last updated Oct 21, 2026.
Overview
- IndustrySavings Institution, Federally Chartered1
- HeadquartersRochester, Minnesota1
- Incorporated inDE2
- Business address1016 Civic Center Drive Northwest, Rochester, Mn 559012
- Filer categoryNon-accelerated filer, Smaller reporting company2
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HMN was incorporated in Delaware in 1994 as a stock savings bank holding company. HMN owns 100 percent of Home Federal Savings Bank. The Bank has a community banking philosophy and operates retail banking and loan production facilities in Minnesota, Iowa and Wisconsin. The Bank has two wholly owned subsidiaries, Osterud Insurance Agency, Inc. (OIA), which does business as Home Federal Investment Services and offers financial planning products and services, and HFSB Property Holdings, LLC (HPH), which is currently inactive, but has acted in the past as an intermediary for the Bank in holding and operating certain foreclosed properties.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Interest | $1.8M4 | $2.2M5 | $3.3M5 | $2.9M6 | $1.6M7 | $2.0M8 | $12.7M8 | |
| Income before tax | $18.9M7 | $11.3M8 | $8.6M8 | |||||
| Income tax | $4.4M4 | $2.9M5 | $3.3M5 | $4.1M6 | $5.4M7 | $3.2M8 | $2.5M8 | |
| Net income | $4.4M4 | $8.2M5 | $7.8M5 | $10.3M6 | $13.6M7 | $8.0M8 | $6.0M8 | |
| Earnings per share | $1.044 | $1.895 | $1.695 | $2.236 | $3.037 | $1.858 | $1.388 | |
| Earnings per share (diluted) | $0.904 | $1.715 | $1.685 | $2.226 | $3.017 | $1.838 | $1.378 | |
| Shares (weighted, basic) | 4.5M shares7 | 4.4M shares8 | 4.4M shares8 | |||||
| Shares (weighted, diluted) | 4.5M shares7 | 4.4M shares8 | 4.4M shares8 |
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash | $37.6M4 | $20.7M4 | $44.4M5 | $86.3M6 | $94.1M7 | $36.3M8 | $11.2M8 | |
| Property, plant and equipment | $17.4M7 | $16.5M8 | $16.0M8 | |||||
| Goodwill | $802.0K7 | $802.0K8 | $802.0K8 | |||||
| Intangible assets | $3.3M6 | |||||||
| Total assets | $722.7M4 | $712.3M5 | $777.6M5 | $909.6M6 | $1.1B7 | $1.1B8 | $1.1B8 | |
| Total liabilities | $641.9M11 | $629.2M4 | $685.0M5 | $806.3M6 | $959.5M7 | $998.9M8 | $999.4M8 | |
| Retained earnings | $131.4M7 | $138.4M8 | $142.3M8 | |||||
| Shareholders’ equity | $80.8M5 | $83.1M5 | $92.6M6 | $103.3M7 | $110.0M8 | $97.3M8 | $107.7M8 | |
| Shares outstanding | 4.5M shares12 | 4.5M shares13 | 4.8M shares11 | 4.8M shares4 | 4.8M shares5 | 4.5M shares8 | 4.5M shares8 | 4.5M shares8 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $17.0M4 | $17.8M5 | $15.2M5 | $16.9M6 | $24.3M7 | $31.3M8 | $13.7M8 | |
| Capital spending | $1.0M4 | $2.5M5 | $2.2M5 | $734.0K6 | $8.3M7 | $342.0K8 | $691.0K8 | |
| Free cash flow | $16.0M | $15.3M | $13.0M | $16.2M | $16.0M | $31.0M | $13.0M | |
| Cash from investing | -$167.4M7 | -$125.2M8 | -$37.0M8 | |||||
| Dividends paid | $07 | $1.0M8 | $1.3M8 | |||||
| Share buybacks | $05 | $05 | $1.4M6 | $4.6M7 | $2.1M8 | $629.0K8 | ||
| Cash from financing | $151.0M7 | $36.0M8 | -$1.8M8 | |||||
| Dividend per share | $0.248 | $0.308 |
Corporate structure
HMN FINANCIAL INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HMN FINANCIAL INC
- M3 PARTNERS LP Filed SCHEDULE 13G/A on HMN FINANCIAL INC, latest Feb 13, 2025 (4 filings since Feb 14, 2022)
- FJ Capital Management LLC Filed SCHEDULE 13G/A on HMN FINANCIAL INC, latest Feb 7, 2025 (3 filings since Feb 8, 2023)
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on HMN FINANCIAL INC, latest Jan 23, 2025 (4 filings since Feb 8, 2022)
- HMN FINANCIAL INC EMPLOYEE STOCK OWNERSHIP PLAN Filed SC 13G/A on HMN FINANCIAL INC, latest Oct 15, 2024 (4 filings since Feb 15, 2022)
- AllianceBernstein Filed SC 13G/A on HMN FINANCIAL INC, latest Feb 14, 2024 (2 filings since Feb 14, 2023)
- Fourthstone LLC Filed SC 13G on HMN FINANCIAL INC, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- HMN FINANCIAL INC Rochester, Minnesota
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HMN FINANCIAL INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $34.8M8 Dec 31, 2023 | $35.4M8 Dec 31, 2022 | −1.5% |
| Accumulated depreciation | $18.8M8 Dec 31, 2023 | $18.9M8 Dec 31, 2022 | −0.1% |
| Property and equipment, net | $16.0M8 Dec 31, 2023 | $16.5M8 Dec 31, 2022 | −3.0% |
| Operating-lease assets (leased space) | $500.0K7 Dec 31, 2022 |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $11.2M8 Dec 31, 2023 | $36.3M8 Dec 31, 2022 | −69.2% |
| Debt securities available for sale | $215.1M8 Dec 31, 2023 | $246.0M8 Dec 31, 2022 | −12.6% |
| Loans, net of allowance | $777.1M7 Dec 31, 2022 | $652.5M7 Dec 31, 2021 | +19.1% |
| Deposits held (banks) | $976.8M8 Dec 31, 2023 | $981.9M8 Dec 31, 2022 | −0.5% |
Intangibles and goodwill
Leadership
Who has led HMN FINANCIAL INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerBradley Krehbiel Sep 10, 2013 to Oct 9, 202414
- ChairHugh C. Smith Dec 6, 2013 to Feb 11, 202115
- PresidentBradley Krehbiel Sep 10, 2013 to Oct 9, 202414
- PresidentMichael McNeil Jan 30, 2006 to Nov 20, 200816
- Chief financial officerJon J. Eberle Oct 8, 2013 to Oct 9, 202417
Board members and other officers (27)
- Senior Vice PresidentLawrence D. McGraw Jun 2, 2010 to Oct 9, 202418
- SENIOR VICE PRESIDENTDwain C. Jorgensen Jan 26, 2006 to Feb 14, 201419
- Senior Vice PresidentJon J. Eberle Jan 26, 2006 to May 23, 201320
- Senior Vice PresidentSusan K. Kolling Jan 26, 2006 to Feb 13, 201721
- Board memberDavid Oeth Apr 27, 2023 to Oct 9, 202422
- Board memberPamela Bishop Apr 27, 2023 to Oct 9, 202423
- Board memberJeffrey Bolton Apr 27, 2022 to Oct 9, 202424
- Board memberWilliams Barbara Butts Apr 28, 2021 to Oct 9, 202425
- Board memberSequoya S. Borgman Apr 24, 2019 to Oct 9, 202426
- Board memberHans K. Zietlow Apr 27, 2016 to Oct 9, 202427
- Board memberMichael A. Bue Apr 27, 2016 to Apr 28, 202128
- Board memberPatricia S. Simmons Jun 9, 2015 to Jan 29, 201829
- Board memberWendy S. Shannon Apr 26, 2013 to Oct 9, 202430
- Board memberBradley Krehbiel Sep 10, 2013 to Oct 9, 202414
- Board memberKaren L. Himle Feb 3, 2012 to Apr 30, 201531
- Board memberMark E. Utz May 9, 2012 to Oct 9, 202432
- Board memberBernard R. Nigon May 5, 2011 to Apr 28, 202233
- Board memberAllen J. Berning May 6, 2011 to Apr 28, 202234
- Board memberHugh C. Smith May 8, 2009 to Apr 30, 201235
- Board memberAllan Deboer Jan 11, 2008 to Sep 4, 200936
- Board memberMichael J. Fogarty Feb 22, 2008 to Apr 30, 201537
- Board memberMalcolm W. McDonald Aug 7, 2007 to Apr 30, 201538
- Board memberMahlon C. Schneider Dec 6, 2007 to Mar 9, 200939
- Board memberSusan K. Kolling Jan 26, 2006 to May 23, 201321
- Board memberMichael McNeil Jan 30, 2006 to Nov 20, 200816
- Board memberDuane D. Benson Jan 31, 2006 to May 14, 200940
- Board memberTimothy R. Geisler Mar 2, 2006 to Apr 29, 200941
Timeline
- Oct 9, 20248-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights42
- Sep 26, 20248-K Regulation FD disclosure43
- Sep 13, 20248-K Shareholder vote44
- Jul 24, 20248-K Results of operations45
- Jul 23, 20248-K Results of operations46
- May 17, 20248-K Executive or director change47
- May 15, 20248-K Entered a material agreement; Regulation FD disclosure48
- Apr 24, 20248-K Shareholder vote; Regulation FD disclosure49
- Apr 19, 20248-K Results of operations50
- Jan 26, 20248-K Results of operations51
- Oct 26, 20238-K Regulation FD disclosure52
- Oct 20, 20238-K Results of operations53
- Sep 10, 2013New chief executive Bradley Krehbiel becomes CEO14
Calendar
When it reported results
- Jul 24, 2024Reported quarterly or annual results45
- Jul 23, 2024Reported quarterly or annual results46
- Apr 19, 2024Reported quarterly or annual results50
- Jan 26, 2024Reported quarterly or annual results51
- Oct 20, 2023Reported quarterly or annual results53
- Jul 21, 2023Reported quarterly or annual results54
- Apr 21, 2023Reported quarterly or annual results55
- Jan 27, 2023Reported quarterly or annual results56
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
166 filings to the SEC since October 2021: 4 annual reports, 9 quarterly reports, 30 major events, 89 insider forms, 20 large holders, 14 other. The latest 20:
- Feb 13, 2025SCHEDULE 13G/A EDGAR
- Feb 7, 2025SCHEDULE 13G/A EDGAR
- Jan 23, 2025SCHEDULE 13G/A EDGAR
- Nov 13, 2024SCHEDULE 13G/A EDGAR
- Oct 23, 202415-12G EDGAR
- Oct 15, 2024SC 13G/A SCHEDULE 13G/A EDGAR
- Oct 10, 202425-NSE EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20244 EDGAR
- Oct 9, 20248-K EDGAR
The 166 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 2, 2023 | KREHBIEL BRADLEYCEO & President | Buy | 1,000 | $17.99 | $18.0K | Form 4 |
| Apr 28, 2023 | Bolton JeffreyDirector | Buy | 1,000 | $18.35 | $18.4K | Form 4 |
| Apr 27, 2023 | Bolton JeffreyDirector | Buy | 54 | $18.35 | $991 | Form 4 |
| Mar 23, 2023 | Bolton JeffreyDirector | Buy | 1,000 | $19.09 | $19.1K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- M3 PARTNERS LPSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Feb 13, 202557
- FJ Capital Management LLCSCHEDULE 13G/A, 3 filings Feb 8, 2023 to Feb 7, 202558
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 4 filings Feb 8, 2022 to Jan 23, 202559
- HMN FINANCIAL INC EMPLOYEE STOCK OWNERSHIP PLANSC 13G/A, 4 filings Feb 15, 2022 to Oct 15, 202460
- AllianceBernsteinSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202461
- Fourthstone LLCSC 13G, 3 filings Feb 14, 2022 to Feb 14, 202462
SEC filer profile
How HMN FINANCIAL INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHMN FINANCIAL INC1
- CIK0000921183
- Employer ID (EIN)41-17773971
- Filer statusNon-accelerated filer<br>smaller reporting company1
- Incorporated inDelaware1
- Fiscal year endsDecember 311
- Industry code (SIC)6035 Savings Institution, Federally Chartered1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address1016 Civic Center Drive Northwest, Rochester, MN 559011
- Mailing address1016 Civic Center Drive Nw, Rochester, MN 559011
- Phone50753512001
- Shares outstanding4,464,952 as of Jul 29, 202410
- Public float$67.9M as of Jun 30, 20238
- On EDGAR sinceMay 10, 19961
- Filings1,044 in all: 4 (346), 8-K (173), 5 (133), 10-Q (86), SC 13G/A (84), DEF 14A (28), 10-K (25), 11-K (22)1
All 36 form types
3 (17), SC 13G (17), SC 13D/A (16), ARS (14), 425 (8), S-8 POS (8), UPLOAD (8), 4/A (6), CORRESP (6), 10-C (4), 5/A (4), 8-K/A (4), DEFA14A (4), SC 13D (4), SCHEDULE 13G/A (4), 10-K405 (3), PRE 14A (3), S-8 (3), 10-Q/A (2), DFAN14A (2), EFFECT (2), S-3/A (2), 10-K/A (1), 15-12G (1), 25-NSE (1), DEFM14A (1), POS AM (1), S-3 (1)
- Latest filingsAnnual report (10-K) Mar 15, 2024
Quarterly report (10-Q) Aug 6, 2024
Proxy statement (DEF 14A) Mar 21, 2024
Latest 8-K (8-K) Oct 9, 2024
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARHugh C. Smith, Chair
- 16SEC EDGARMichael McNeil, President
- 17
- 18
- 19
- 20SEC EDGARJon J. Eberle, Senior Vice President
- 21
- 22SEC EDGARDavid Oeth, Board member
- 23SEC EDGARPamela Bishop, Board member
- 24SEC EDGARJeffrey Bolton, Board member
- 25SEC EDGARWilliams Barbara Butts, Board member
- 26SEC EDGARSequoya S. Borgman, Board member
- 27SEC EDGARHans K. Zietlow, Board member
- 28SEC EDGARMichael A. Bue, Board member
- 29SEC EDGARPatricia S. Simmons, Board member
- 30SEC EDGARWendy S. Shannon, Board member
- 31SEC EDGARKaren L. Himle, Board member
- 32SEC EDGARMark E. Utz, Board member
- 33SEC EDGARBernard R. Nigon, Board member
- 34SEC EDGARAllen J. Berning, Board member
- 35SEC EDGARHugh C. Smith, Board member
- 36SEC EDGARAllan Deboer, Board member
- 37SEC EDGARMichael J. Fogarty, Board member
- 38SEC EDGARMalcolm W. McDonald, Board member
- 39SEC EDGARMahlon C. Schneider, Board member
- 40SEC EDGARDuane D. Benson, Board member
- 41SEC EDGARTimothy R. Geisler, Board member
- 42
- 43SEC EDGARRegulation FD disclosure
- 44SEC EDGARShareholder vote
- 45SEC EDGARResults of operations
- 46SEC EDGARResults of operations
- 47SEC EDGARExecutive or director change
- 48
- 49
- 50SEC EDGARResults of operations
- 51SEC EDGARResults of operations
- 52SEC EDGARRegulation FD disclosure
- 53SEC EDGARResults of operations
- 54
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