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HMN Financial, Inc. Announces Fourth 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

(Dollars in thousands)

Amount of Amount of Amount of

 

Loans Loans Loans

Industry Type

#

December 31,

#

September 30,

#

December 31,

 

     

 

    2011      

 

    2011      

 

    2010
Construction/development 6 $2,061 3 $2,678 6 $9,148
Finance 0 0 1 177 1 248
Retail 1 82 4 1,550 1 2,504
Banking 2 1,199 2 1,824 2 8,223
Entertainment 1 23 1 235 1 315
Utilities 1 2,792 1 4,568 1 4,614
Restaurant 0 0 0 0 4 1,217
Transportation   1     44       1     44       0     0
  12     $6,201       13     $11,076       16     $26,269
 

The Company had allocated reserves established against the above commercial business loans of $0.6 million, $2.8 million and $10.7 million, respectively, at December 31, 2011, September 30, 2011 and December 31, 2010.

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