Note 23 - Business Segments

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 23 Business Segments

The Bank has been identified as a reportable operating segment in accordance with the provisions of ASC 280. HMN, the holding company, did not meet the quantitative thresholds for a reportable segment and therefore is included in the “Other” category. The Company evaluates performance and allocates resources based on the segment’s net income, return on average assets and return on average equity. Each corporation is managed separately with its own officers and board of directors.

The following table sets forth certain information about the reconciliations of reported net income and assets for each of the Company’s reportable segments.

(Dollars in thousands)	Home Federal Savings Bank			Other			Eliminations			Consolidated Total
At or for the year ended December 31, 2021:
Interest income – external customers	$	31,761			0			0			31,761
Non-interest income – external customers		14,262			1			0			14,263
Intersegment interest income		0			31			(31	)		0
Intersegment non-interest income		234			14,174			(14,408	)		0
Interest expense		1,584			0			(31	)		1,553
Provision for loan losses		(2,119	)		0			0			(2,119	)
Non-interest expense		27,060			835			(234	)		27,661
Income tax expense (benefit)		5,558			(193	)		0			5,365
Net income		14,174			13,564			(14,174	)		13,564
Total assets		1,068,834			110,194			(109,490	)		1,069,538
At or for the year ended December 31, 2020:
Interest income – external customers	$	31,959			0			0			31,959
Non-interest income – external customers		15,083			0			0			15,083
Intersegment interest income		0			43			(43	)		0
Intersegment non-interest income		234			10,815			(11,049	)		0
Interest expense		2,894			0			(43	)		2,851
Provision for loan losses		2,699			0			0			2,699
Non-interest expense		26,601			755			(234	)		27,122
Income tax expense (benefit)		4,267			(199	)		0			4,068
Net income		10,815			10,302			(10,815	)		10,302
Total assets		909,605			103,433			(103,458	)		909,580