HMN Financial, Inc. (HMN) is a stock savings bank holding company that wholly owns Home Federal Savings Bank (the Bank). The Bank operates retail banking and loan production facilities in Minnesota and Iowa. The Bank has one wholly owned subsidiary, Osterud Insurance Agency, Inc., which offers financial planning products and services. HMN has another wholly owned subsidiary, Security Finance Corporation, which acts as an intermediary for the Bank in transacting like kind property exchanges for customers. The company serves the southern Minnesota counties of Fillmore, Freeborn, Houston, Mower, Olmsted, and Winona, as well as the portions of Steele, Dodge, Goodhue, and Wabasha through its corporate office located in Rochester, Minnesota; and its nine branch offices located in Albert Lea, Austin, LaCrescent, Rochester, Spring Valley, and Winona, Minnesota. HMN Financial also serves the Iowa counties of Marshall and Tama through its branch offices located in Marshalltown and Toledo. The company was founded in 1933 and is based in Rochester, Minnesota.
In November HMN Financial announced that it would participate in the Treasury Department’s Capital Purchase Program. Under the program the company received $26 million in exchange for preferred stock..
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Bailout Bank Bio: HMN Financial (Home Federal Savings Bank)
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Federal Equity Investment |
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Total Revenue |
$73.5 million (2008) |
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Net Income |
-$10.1 million (2008) |
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Number of Employees |
202 |
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Corporate Headquarters |
Rochester, Minnesota |
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Business Sector |
Bank |
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Officers and Directors |
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Corporate Website |
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Executive Compensation |
2007 HMN Financial Annual Report
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Last Updated May 28, 2009
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