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HMN Financial, Inc. Announces Second 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 three most recently completed quarters.

    Principal     Principal     Principal
Amount of Amount of Amount of
(Dollars in thousands) Loans at Loans at Loans at
# of June 30, # of March 31, # of December 31,
Property Type   relationships   2013   relationships   2013   relationships   2012
Developments/land 9 $20,956 10 $23,854 9 $24,339
Shopping centers/retail 1 66 1 69 2 386
Restaurants/bar 1 511 1 526 1 547
Office buildings 0 0 0 0 2 128
Other buildings 0   0   1   141   1   143
11   $21,533   13   $24,590   15   $25,543
 

The decrease in the non-performing commercial real estate loans from March 31, 2013 is due primarily to principal payments received on construction and development loans during the quarter as a result of various types of real estate sales including building lots, land and single family houses.

Stock quotes in this article: HMNF 

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