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Note 22 - HMN Financial, Inc. Financial Information (Parent Company Only)
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
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HMN Financial, Inc. Financial Information (Parent Company Only)
The following are the condensed financial statements for the parent company only as of
December 31, 2020
and
2019
and for the years ended
December 31, 2020,
2019
and
2018.
 
(Dollars in thousands)
  
2020
    
2019
    
2018
  
Condensed Balance Sheets
                        
Assets:
                        
Cash and cash equivalents
  
$
10,970
      
7,722
      
 
  
Investment in subsidiaries
  
 
91,558
      
84,507
      
 
  
Prepaid expenses and other assets
  
 
891
      
610
      
 
  
Deferred tax asset, net
  
 
14
      
24
      
 
  
Total assets
  
$
103,433
      
92,863
      
 
  
Liabilities and Stockholders' Equity:
                        
Accrued expenses and other liabilities
  
$
181
      
215
      
 
  
Total liabilities
  
 
181
      
215
      
 
  
Common stock
  
 
91
      
91
      
 
  
Additional paid-in capital
  
 
40,480
      
40,365
      
 
  
Retained earnings
  
 
117,849
      
107,547
      
 
  
Net unrealized gains on securities available for sale
  
 
1,282
      
46
      
 
  
Unearned employee stock ownership plan shares
  
 
(1,450
)
    
(1,643
 )    
 
  
Treasury stock, at cost, 4,359,552 and 4,284,840 shares
  
 
(55,000
)
    
(53,758
 )    
 
  
Total stockholders' equity
  
 
103,252
      
92,648
      
 
  
Total liabilities and stockholders' equity
  
$
103,433
      
92,863
      
 
  
Condensed Statements of Income
                        
Interest income
  
$
43
      
21
      
0
  
Equity income of subsidiaries
  
 
10,815
      
8,627
      
8,800
  
Compensation and benefits
  
 
(243
)
    
(240
 )    
(221
 )
Occupancy and equipment
  
 
(30
)
    
(30
 )    
(30
 )
Data processing
  
 
(6
)
    
(6
 )    
(6
 )
Professional services
  
 
(93
)
    
(131
 )    
(124
 )
Other
  
 
(383
)
    
(367
 )    
(331
 )
Income before income tax benefit (expense)
  
 
10,103
      
7,874
      
8,088
  
Income tax benefit (expense)
  
 
199
      
(81
 )    
148
  
Net income
  
$
10,302
      
7,793
      
8,236
  
Condensed Statements of Cash Flows
                        
Cash flows from operating activities:
                        
Net income
  
$
10,302
      
7,793
      
8,236
  
Adjustments to reconcile net income to cash used by operating activities:
                        
Equity income of subsidiaries
  
 
(10,815
)
    
(8,627
 )    
(8,800
 )
Deferred income tax benefit
  
 
10
      
71
      
46
  
Earned employee stock ownership shares priced above original cost
  
 
145
      
230
      
206
  
Stock option compensation
  
 
0
      
1
      
17
  
Amortization of restricted stock awards
  
 
238
      
187
      
134
  
Decrease in unearned ESOP shares
  
 
193
      
193
      
194
  
Decrease (increase) in other assets
  
 
(281
 )    
1,404
      
(146
 )
Decrease in other liabilities
  
 
(34
)
    
(18
 )    
(20
 )
Other, net
  
 
0
      
(1
 )    
(1
 )
Net cash (used) provided by operating activities
  
 
(242
)
    
1,233
      
(134
 )
Cash flows from financing activities:
                        
Warrants purchased
  
 
0
      
0
      
(6,453
 )
Excess tax benefit from options exercised
  
 
0
      
0
      
64
  
Treasury stock purchased
  
 
(1,450
)
    
0
      
0
  
Stock awards withheld for tax withholding
  
 
(60
)
    
(45
 )    
0
  
Dividends received from Bank
  
 
5,000
      
5,000
      
6,000
  
Net cash provided (used) by financing activities
  
 
3,490
      
4,955
      
(389
 )
Increase (decrease) in cash and cash equivalents
  
 
3,248
      
6,188
      
(523
 )
Cash and cash equivalents, beginning of year
  
 
7,722
      
1,534
      
2,057
  
Cash and cash equivalents, end of year
  
$
10,970
      
7,722
      
1,534