Note 22 - HMN Financial, Inc. Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 22 HMN Financial, Inc. Financial Information (Parent Company Only)

The following are the condensed financial statements for the parent company only as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013.

(Dollars in thousands)	2015			2014			2013
Condensed Balance Sheets
Assets:
Cash and cash equivalents	$	2,564			557
Investment in subsidiaries		74,565			73,733
Loans receivable, net		0			900
Prepaid expenses and other assets		33			10
Deferred tax asset, net		1,000			1,022
Total assets	$	78,162			76,222
Liabilities and Stockholders' Equity:
Other borrowed money		9,000			0
Accrued expenses and other liabilities	$	(483	)		209
Total liabilities		8,517			209
Serial preferred stock		0			10,000
Common stock		91			91
Additional paid-in capital		50,388			50,207
Retained earnings		80,536			77,805
Net unrealized losses on securities available for sale		(214	)		(418	)
Unearned employee stock ownership plan shares		(2,417	)		(2,610	)
Treasury stock, at cost, 4,645,769 and 4,658,323 shares		(58,739	)		(59,062	)
Total stockholders' equity		69,645			76,013
Total liabilities and stockholders' equity	$	78,162			76,222
Condensed Statements of Income
Interest income	$	1			1			1
Interest expense		(571	)		0			0
Equity income of subsidiaries		3,629			7,644			26,792
Compensation and benefits		(269	)		(233	)		(235	)
Occupancy		(30	)		(24	)		(24	)
Data processing		(6	)		(6	)		(6	)
Other		(335	)		(539	)		(498	)
Income before income tax benefit		2,419			6,843			26,030
Income tax benefit		(537	)		(536	)		(640	)
Net income	$	2,956			7,379			26,670
Condensed Statements of Cash Flows
Cash flows from operating activities:
Net income	$	2,956			7,379			26,670
Adjustments to reconcile net income to cash used by operating activities:
Equity income of subsidiaries		(3,629	)		(7,644	)		(26,792	)
Deferred income tax benefit		(22	)		(92	)		(931	)
Earned employee stock ownership shares priced above (below) original cost		57			53			(21	)
Stock option compensation		0			1			4
Cancellation of restricted stock awards		0			0			(119	)
Amortization of restricted stock awards		447			240			202
Decrease in unearned ESOP shares		193			194			193
(Decrease) increase in accrued expenses and other liabilities		(692	)		(420	)		47
Decrease (increase) in other assets		23			69			(65	)
Other, net		(1	)		0			(1	)
Net cash used by operating activities		(668	)		(220	)		(813	)
Cash flows from investing activities:
Decrease (increase) in loans receivable, net		900			100			(200	)
Net cash provided (used) by investing activities		900			100			(200	)
Cash flows from financing activities:
Redemption of preferred stock		(10,000	)		(16,000	)		0
Dividends to preferred stockholders		(225	)		(5,964	)		0
Proceeds from borrowings		10,000			0			0
Repayments of borrowings		(1,000	)		0			0
Dividends received from Bank		3,000			22,500			1,000
Net cash provided by financing activities		1,775			536			1,000
Increase (decrease) in cash and cash equivalents		2,007			416			(13	)
Cash and cash equivalents, beginning of year		557			141			154
Cash and cash equivalents, end of year	$	2,564			557			141