This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Home Federal Bancorp, Inc. Announces Fourth Quarter And Year End Results

NAMPA, Idaho, Nov. 5, 2010 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. ("Company") (Nasdaq:HOME), the parent company of Home Federal Bank ("Bank"), today announced results for the fourth quarter and fiscal year ended September 30, 2010. For the quarter ended September 30, 2010, the Company reported a net loss of ($215,000), or ($0.01) per diluted share, compared to net income of $9.7 million, or $0.62 per diluted share, for the same period a year ago. Net loss for the fiscal year ended September 30, 2010, was ($4.1 million), or ($0.26) per diluted share, compared to net income of $8.1 million, or $0.51 per diluted share, for the fiscal year ended September 30, 2009.

The fourth quarter and fiscal year results for fiscal year 2010 include a pre-tax bargain purchase gain of $3.2 million related to the July 30, 2010, FDIC assisted acquisition of LibertyBank in Eugene, Oregon, which was reported in noninterest income. The bargain purchase gain, net of taxes was $1.9 million. The fourth quarter and fiscal year results for fiscal year 2009 include an extraordinary gain, net of taxes, of $15.3 million related to the acquisition of Community First Bank in Prineville, Oregon. On August 7, 2009, the Bank purchased certain assets and assumed certain liabilities of Community First Bank in Prineville, Oregon, in a similarly-structured FDIC-assisted acquisition. The estimated fair value of assets assumed in the Community First Bank and LibertyBank acquisitions totaled $189.8 million and $690.6 million, respectively, on the acquisition dates, which significantly increased the Company's total assets. The acquisitions have been incorporated prospectively in the Company's financial statements. Therefore, year over year results of operations are not comparable.

Nearly all loans and real estate owned ("REO") acquired in both FDIC-assisted transactions are covered under FDIC loss-sharing agreements which reduce the Company's credit loss exposure. These assets are referred to as "covered assets." Loans and REO in the Bank's organic operations are referred to as "noncovered assets."

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.38 1.90%
GOOG $692.03 -0.89%
FB $117.21 -1.10%
TSLA $232.57 -3.80%
YHOO $35.94 -1.60%


Chart of I:DJI
DOW 17,662.84 -88.07 -0.50%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs