HMN FINANCIAL INC
justcallhome.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 6, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Feb 13, 2025.
10-Q for Q2 FY2024, filed Aug 6, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Accepts deposits and makes home, business and consumer loans for households and businesses in Minnesota, Iowa and Wisconsin.
10-K for FY2023, filed Mar 15, 2024HMN was incorporated in Delaware in 1994 as a stock savings bank holding company. HMN owns 100 percent of Home Federal Savings Bank. The…View ↗
As a community-oriented financial institution, the Company seeks to serve the financial needs of communities in its market area. The…View ↗
General. The Company originates 15 and 30 year fixed rate mortgage loans secured by single family residences and sells the majority of…View ↗
Who Were Their Customers?
The Bank takes deposits from households and businesses and accepts loan applications through its branches and loan-production offices; it sells most eligible longer-term fixed-rate home loans to the Federal National Mortgage Association and other investors.
10-K for FY2023, filed Mar 15, 2024As a community-oriented financial institution, the Company seeks to serve the financial needs of communities in its market area. The…View ↗
The Company offers conventional fixed rate single family loans that have maximum terms of 30 years. In order to manage interest rate risk…View ↗
Real estate loans are generally originated by the Company's salaried loan officers. Mortgage and consumer loan officers may also receive a…View ↗
How Were They Changing?
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Oct 9, 2024
Alerus completed its merger with HMN
HMN ceased to exist as a separate corporation, and its common stock was suspended from Nasdaq trading.
Sources
8-K, filed Oct 9, 2024
On October 9, 2024 (the “Closing Date”), upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance…View ↗
Specialized mortgage lending
Mortgage lending adds an executive banking initiative with non-salable portfolio loans aimed at high-net-worth individuals and medical professionals; the older report describes resident and physician loan products.
10-K for FY2020, filed Mar 5, 2021 10-K for FY2023, filed Mar 15, 2024Loans that meet the underwriting guidelines of secondary market investors are approved by designated Credit Administration positions. The…View ↗
Single Family Residential Real Estate Lending. At December 31, 2023, the Company's single family real estate loans, consisting of both…View ↗
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