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

12 Months Ended

Dec. 31, 2020

Notes Tables

Condensed Financial Statements [Table Text Block]

(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