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HOME FEDERAL BANCORP, INC. OF LOUISIANA REPORTS RESULTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2023
Shreveport, Louisiana, April 28, 2023 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (Nasdaq: HFBL), the holding company of Home
About this update from Home Federal Bancorp, Inc. Of Louisiana
[{"type":"text","content":"Shreveport, Louisiana, April 28, 2023 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (Nasdaq: HFBL), the holding company of Home Federal Bank, reported net income for the three months ended March 31, 2023, of $1.1 million compared to net income of $1.3 million reported for the three months ended March 31, 2022. The Company’s basic and diluted earnings per share were $0.35 and $0.34, respectively, for the three months ended March 31, 2023, compared to basic and diluted earnings per share of $0.39 and $0.37, respectively, for the three months ended March 31, 2022. The Company reported net income of $4.4 million for the nine months ended March 31, 2023, compared to $3.8 million for the nine months ended March 31, 2022. The Company’s basic and diluted earnings per share were $1.48 and $1.41, respectively, for the nine months ended March 31, 2023, compared to $1.18 and $1.10, respectively, for the nine months ended March 31, 2022. The Company reported the following during the nine months ended March 31, 2023: On February 1st, the Company completed the acquisition of Northwest Bancshares Corporation (“NWB”) and its wholly-owned subsidiary, First National Bank of Benton (“FNBB). As of February 1st FNBB reported $83.4 million in assets, $77.3 million in liabilities and $6.1 million in equity. Total loans receivable, net of allowance for loan losses for the nine months ended March 31, 2023, increased $98.5 million, or 25.4%, to $486.4 million at March 31, 2023, compared to $387.9 million at June 30, 2022. FNBB had $53.3 million of loans receivable at March 31, 2023. Total deposits without the deposits acquired in the acquisition of First National Bank of Benton for the nine months ended March 31, 2023, increased $18.3 million, or 3.5%, to $536.5 million at March 31, 2023, compared to $518.2 million at June 30, 2022. The third quarter of fiscal 2023 included merger related expenses totaling $450,000, net of taxes, relating to our acquisition of Northwest Bancshares Corporation and its wholly-owned subsidiary, FNBB on February 1, 2023.Basic earnings per share increased $0.30, or 25.4%, from $1.18 for the nine months ended March 31, 2022, compared to $1.48 for the nine months ended March 31, 2023. Basic earnings per share would have been $0.15 higher without the merger related expenses incurred during the nine m...