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For the Three Months Ended September 30,
|
||||||||||||||||
2018
|
2017
|
|||||||||||||||
Average
Balance
|
Average
Yield/Rate
|
Average
Balance
|
Average
Yield/Rate
|
|||||||||||||
(Dollars in thousands)
|
||||||||||||||||
Interest-earning assets:
|
||||||||||||||||
Loans receivable
|
$
|
325,720
|
5.47
|
%
|
$
|
330,376
|
5.14
|
%
|
||||||||
Investment securities
|
57,652
|
2.15
|
60,539
|
1.78
|
||||||||||||
Interest-earning deposits
|
16,221
|
1.96
|
11,637
|
1.30
|
||||||||||||
Total interest-earning assets
|
$
|
399,593
|
4.85
|
%
|
$
|
402,552
|
4.53
|
%
|
||||||||
Interest-bearing liabilities:
|
||||||||||||||||
Savings accounts
|
$
|
36,099
|
0.54
|
%
|
$
|
35,758
|
0.52
|
%
|
||||||||
NOW accounts
|
33,079
|
0.50
|
36,277
|
0.48
|
||||||||||||
Money market accounts
|
70,296
|
0.85
|
41,466
|
0.35
|
||||||||||||
Certificates of deposit
|
166,889
|
1.63
|
164,502
|
1.40
|
||||||||||||
Total interest-bearing deposits
|
306,363
|
1.20
|
278,003
|
1.01
|
||||||||||||
Other bank borrowings
|
98
|
4.05
|
--
|
--
|
||||||||||||
FHLB advances
|
10,614
|
2.54
|
42,890
|
1.33
|
||||||||||||
Total interest-bearing liabilities
|
$
|
317,075
|
1.25
|
%
|
$
|
320,893
|
1.05
|
%
|
Home Federal Bancorp, Inc. of Louisiana
|
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
|
||||||||
(In thousands)
|
||||||||
September 30, 2018
|
June 30, 2018
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Cash and cash equivalents
|
$
|
13,340
|
$
|
15,867
|
||||
Securities available-for-sale at fair value
|
31,329
|
29,324
|
||||||
Securities held-to-maturity (fair value September 30, 2018: $26,409;
June 30, 2018: $27,818)
|
27,692
|
28,888
|
||||||
Loans held-for-sale
|
4,899
|
6,762
|
||||||
Loans receivable, net of allowance for loan losses (September 30, 2018: $3,497;
June 30, 2018: $3,425)
|
326,621
|
317,493
|
||||||
Accrued Interest Receivable
|
1,193
|
1,146
|
||||||
Premises and equipment, net
|
12,752
|
12,243
|
||||||
Deferred tax asset
|
1,144
|
1,102
|
||||||
Real estate owned
|
1,826
|
1,177
|
||||||
Other assets
|
7,532
|
7,648
|
||||||
Total assets
|
$
|
428,328
|
$
|
421,650
|
||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||
Deposits
|
$
|
370,745
|
$
|
360,260
|
||||
Advances from the Federal Home Loan Bank of Dallas
|
6,568
|
11,637
|
||||||
Other Borrowings
|
--
|
300
|
||||||
Other liabilities
|
3,056
|
2,416
|
||||||
Total liabilities
|
380,369
|
374,613
|
||||||
Shareholders' equity
|
47,959
|
47,037
|
||||||
Total liabilities and shareholders' equity
|
$
|
428,328
|
$
|
421,650
|
Home Federal Bancorp, Inc. of Louisiana
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
|
||||||||
Three Months Ended
|
||||||||
September 30,
|
||||||||
2018
|
2017
|
|||||||
(Unaudited) | ||||||||
Interest income
|
||||||||
Loans, including fees
|
$
|
4,494
|
$
|
4,284
|
||||
Investment securities
|
14
|
11
|
||||||
Mortgage-backed securities
|
298
|
260
|
||||||
Other interest-earning assets
|
80
|
38
|
||||||
Total interest income
|
4,886
|
4,593
|
||||||
Interest expense
|
||||||||
Deposits
|
929
|
707
|
||||||
Federal Home Loan Bank borrowings
|
68
|
144
|
||||||
Other bank borrowings
|
1
|
--
|
||||||
Total interest expense
|
998
|
851
|
||||||
Net interest income
|
3,888
|
3,742
|
||||||
Provision for loan losses
|
250
|
300
|
||||||
Net interest income after provision for loan losses
|
3,638
|
3,442
|
||||||
Non-interest income
|
||||||||
Gain on sale of loans
|
392
|
605
|
||||||
Gain on sale of fixed assets
|
3
|
--
|
||||||
Gain on sale of securities
|
--
|
94
|
||||||
Income on Bank-Owned Life Insurance
|
35
|
36
|
||||||
Service charges on deposit accounts
|
227
|
216
|
||||||
Other income
|
13
|
17
|
||||||
Total non-interest income
|
670
|
968
|
||||||
Non-interest expense
|
||||||||
Compensation and benefits
|
1,616
|
1,714
|
||||||
Occupancy and equipment
|
320
|
310
|
||||||
Data processing
|
150
|
167
|
||||||
Audit and examination fees
|
54
|
50
|
||||||
Franchise and bank shares tax
|
100
|
98
|
||||||
Advertising
|
58
|
40
|
||||||
Legal fees
|
139
|
146
|
||||||
Loan and collection
|
62
|
80
|
||||||
Deposit insurance premium
|
30
|
28
|
||||||
Real estate owned valuation adjustment
|
75
|
--
|
||||||
Other expenses
|
172
|
198
|
||||||
Total non-interest expense
|
2,776
|
2,831
|
||||||
Income before income taxes
|
1,532
|
1,579
|
||||||
Provision for income tax expense
|
314
|
571
|
||||||
NET INCOME
|
$
|
1,218
|
$
|
1,008
|
||||
EARNINGS PER SHARE
|
||||||||
Basic
|
$
|
0.68
|
$
|
0.55
|
||||
Diluted
|
$
|
0.63
|
$
|
0.53
|
Three Months Ended
|
||||||||
September 30,
|
||||||||
2018
|
2017
|
|||||||
(Unaudited) | ||||||||
Selected Operating Ratios(1):
|
||||||||
Average interest rate spread
|
3.60
|
%
|
3.48
|
%
|
||||
Net interest margin
|
3.86
|
%
|
3.69
|
%
|
||||
Return on average assets
|
1.14
|
%
|
0.94
|
%
|
||||
Return on average equity
|
10.33
|
%
|
8.57
|
%
|
||||
Asset Quality Ratios(2):
|
||||||||
Non-performing assets as a percent of total assets
|
0.64
|
%
|
0.78
|
%
|
||||
Allowance for loan losses as a percent of non-performing loans
|
127.29
|
%
|
99.07
|
%
|
||||
Allowance for loan losses as a percent of total loans receivable
|
1.05
|
%
|
1.00
|
%
|
||||
Per Share Data:
|
||||||||
Shares outstanding at period end
|
1,894,105
|
1,927,053
|
||||||
Weighted average shares outstanding:
|
||||||||
Basic
|
1,795,630
|
1,816,295
|
||||||
Diluted
|
1,932,225
|
1,914,932
|
||||||
Tangible book value at period end
|
$
|
25.32
|
$
|
24.06
|
||||
________________________ | ||||||||
(1) Ratios for the three month periods are annualized.
|
||||||||
(2) Asset quality ratios are end of period ratios.
|
CONTACT:
|
James R. Barlow
President and Chief Executive Officer
(318) 222-1145
|
|
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