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HMN Financial, Inc. Announces Third Quarter Results

The following table summarizes the number of lending relationships and industry of commercial business loans that were non-performing for the two most recent quarters and December 31, 2010.

                     
Principal Principal Principal Amount
(Dollars in thousands) Amount of Loan Amount of Loan of Loan
September 30, June 30, December 31,
Industry Type     #     2011       #   2011       # 2010
Construction/development/land 3 $ 2,678 4 $ 4,768 6 $ 9,148
Finance 1 177 1 181 1 248
Retail 4 1,550 4 3,061 1 2,504
Banking 2 1,824 2 1,974 2 8,223
Entertainment 1 235 1 239 1 315
Utilities 1 4,568 1 4,583 1 4,614
Restaurant 0 0 2 492 4 1,217
Transportation   1       44       0     0       0   0
  13     $ 11,076       15   $ 15,298       16 $ 26,269
 

The Company had specific reserves established against the above commercial business loans of $2.8 million, $3.5 million and $10.7 million, respectively, at September 30, 2011, June 30, 2011 and December 31, 2010.

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