HMN Financial Q2 Profit Climbs On Higher Net Interest Income

(RTTNews) - HMN Financial, Inc. (HMNF), the holding company for Home Federal Savings Bank, reported late Friday that its second-quarter net income was $1.5 million, an increase from $0.6 million last year. Earnings per share were $0.31, higher than last year's $0.13.

The increase in net income was due primarily to a $2.1 million increase in interest income as a result of an increase in the average interest-earning assets.

Net interest income was $6.8 million, an increase of 44.6 percent from $4.7 million for the second quarter of 2015. Interest income was $7.2 million, an increase of 41.2 percent from $5.1 million last year.

Net interest margin climbed to 4.36 percent from 3.56 percent a year ago.