SIOUX FALLS, S.D.
Aug. 2, 2011
HF Financial Corp.
(Nasdaq: HFFC) today announced it will adjust preliminary earnings reported for the fiscal year ended
June 30, 2011
, with an additional pre-tax charge for nonperforming assets of approximately
Friday, July 29, 2011
, we met with a borrower and decided to reclassify
agricultural loans from performing to nonperforming status after the borrower indicated they could no longer meet their loan commitments," said
, Chairman, President and Chief Executive Officer. "We expect to adjust our preliminary earnings downward between
$500,000 and $1.0 million
, when we file our fiscal 2011 financial results on Form 10-K next month."
July 25, 2011
, HF Financial reported preliminary, unaudited earnings of
per diluted share in the fiscal year ended
June 30, 2011
, following a
after-tax charge from the total liquidation of its
portfolio of trust preferred securities. Capital ratios will continue to exceed well capitalized thresholds.
, Chairman, President and CEO, is scheduled to present at the Keefe, Bruyette & Woods 12th Annual Community Bank Investor Conference in
later today. HF Financial's presentation is on
Tuesday, August 2, 2011
3:00 p.m. EDT
. The live and archived presentation can be viewed at
About HF Financial Corp.
HF Financial Corp., based in
Sioux Falls, SD
, is the parent company for financial services companies, including Home Federal Bank, Mid America Capital Services, Inc., dba Mid America Leasing Company, Hometown Investment Services, Inc. and HF Financial Group, Inc. The largest publicly traded savings association headquartered in
, HF Financial Corp. operates with 34 offices in 19 communities, throughout
Eastern South Dakota
and one location in
. The Company has opened a branch in
the Twin Cities
market as Infinia Bank, a Division of Home Federal Bank of
. Internet banking is also available at
This news release and other reports issued by the Company, including reports filed with the Securities and Exchange Commission, contain "forward-looking statements" that deal with future results, expectations, plans and performance. In addition, the Company's management may make forward-looking statements orally to the media, securities analysts, investors or others. These forward-looking statements might include one or more of the following:
- Projections of income, loss, revenues, earnings or losses per share, dividends, capital expenditures, capital structure, adequacy of loan loss reserves, tax benefit or other financial items.
- Descriptions of plans or objectives of management for future operations, products or services, transactions, investments and use of subordinated debentures payable to trusts.
- Forecasts of future economic performance.
- Use and descriptions of assumptions and estimates underlying or relating to such matters.
Forward-looking statements can be identified by the fact they do not relate strictly to historical or current facts. They often include words such as "optimism," "look-forward," "bright," "pleased," "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may".