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HMN Financial, Inc. Announces Fourth Quarter Results

The following table summarizes the number and types of commercial real estate loans (the largest category of non-performing loans) that were non-performing as of the end of the two most recently completed quarters and December 31, 2010.

                       
Principal
Amount

 

 
of

Principal

Principal
Loans at

Amount of

Amount of

 
December

Loans at

Loans at

(Dollars in thousands)

 
# of 31, # of

September 30,
# of

December 31,

Property Type
relationships       2011 relationships       2011 relationships       2010
Developments/Land 10 $ 17,465 8 $ 17,059 9 $ 23,661
Single family homes 0 0 0 0 3 2,673
Alternative fuel plants 0 0 1 2,266 1 4,994
Shopping centers/retail 2 1,315 2 1,347 3 1,099
Restaurants/bar 1 616 1 636 1 635
Office buildings 1 2,325 1 2,925 1 3,675
Other buildings 3       937     1       159     0       0
17     $ 22,658    

14
    $ 24,392     18     $ 36,737
 

The Company had allocated reserves established against the above commercial real estate loans of $2.9 million, $4.2 million, and $13.3 million, respectively, at December 31, 2011, September 30, 2011 and December 31, 2010.

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