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HOME FEDERAL BANCORP, INC. OF LOUISIANA REPORTS RESULTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2021
Shreveport, LA, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (Nasdaq: HFBL), the holding company of Home Federal
About this update from Home Federal Bancorp, Inc. Of Louisiana
[{"type":"text","content":"Shreveport, LA, Jan. 27, 2022 (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 December 31, 2021 of $1.2 million compared to net income of $1.4 million reported for the three months ended December 31, 2020. The Company’s basic and diluted earnings per share were $0.36 and $0.34, respectively, for the three months ended December 31, 2021 compared to basic and diluted earnings per share of $0.44 and $0.42, respectively, for the three months ended December 31, 2020. The Company reported net income of $2.5 million for the six months ended December 31, 2021, compared to $2.7 million for the six months ended December 31, 2020. The Company’s basic and diluted earnings per share were $0.79 and $0.73, respectively, for the six months ended December 31, 2021 compared to $0.82 and $0.79, respectively, for the six months ended December 31, 2020. The Company reported the following during the six months ended December 31, 2021: Total deposits increased $5.6 million or 1.1% to $512.2 million at December 31, 2021, compared to $506.6 million at June 30, 2021, however time deposits decreased $24.6 million, or 22.6%, to $84.4 million at December 31, 2021, compared to $109.0 million at June 30, 2021.Total mortgage loans originated for sale were $58.4 million for the three months ended December 31, 2021.In July 2021, we announced plans to enter the Minden, Louisiana market area. In September 2021, we opened a loan production office with a team of six seasoned local bankers, which converted to a full service branch in October 2021.Gross loans, excluding SBA PPP loans for the three months ended December 31, 2021 increased $24.8 million, or 7.5%, to $354.6 million at December 31, 2021, compared to $329.8 million at September 31, 2021. SBA PPP loans at December 31, 2021 and September 31, 2021 totaled $10.9 million and $13.7 million, respectively. The pipeline for our commercial loan originations remains strong.In December 2021, we opened our ninth full service branch office located in Shreveport, Louisiana.Loan income decreased $1.0 million for the six month period ended December 31, 2021 compared to the same period ended December 31, 2020 due in part to a reduction for the 2021 period compared to the same period in 2020 of...