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

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Financial Statements [Table Text Block]

(Dollars in thousands)	2021			2020
Condensed Balance Sheets
Assets:
Cash and cash equivalents	$	12,538			10,970
Investment in subsidiaries		96,867			91,558
Prepaid expenses and other assets		785			891
Deferred tax asset, net		4			14
Total assets	$	110,194			103,433
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	$	163			181
Total liabilities		163			181
Common stock		91			91
Additional paid-in capital		40,740			40,480
Retained earnings		131,413			117,849
Net unrealized (loss) gains on securities available for sale		(1,583	)		1,282
Unearned employee stock ownership plan shares		(1,256	)		(1,450	)
Treasury stock, at cost, 4,564,087 and 4,359,552 shares		(59,374	)		(55,000	)
Total stockholders' equity		110,031			103,252
Total liabilities and stockholders' equity	$	110,194			103,433
Condensed Statements of Income
Interest income	$	31			43
Equity income of subsidiaries		14,174			10,815
Compensation and benefits		(282	)		(243	)
Occupancy and equipment		(30	)		(30	)
Data processing		(6	)		(6	)
Professional services		(111	)		(93	)
Other		(405	)		(383	)
Income before income tax benefit		13,371			10,103
Income tax benefit		193			199
Net income	$	13,564			10,302
Condensed Statements of Cash Flows
Cash flows from operating activities:
Net income	$	13,564			10,302
Adjustments to reconcile net income to cash used by operating activities:
Equity income of subsidiaries		(14,174	)		(10,815	)
Deferred income tax benefit		10			10
Earned employee stock ownership shares priced above original cost		239			145
Amortization of restricted stock awards		243			238
Decrease in unearned ESOP shares		194			193
Decrease (increase) in other assets		106			(281	)
Decrease in other liabilities		(18	)		(34	)
Net cash provided (used) by operating activities		164			(242	)
Cash flows from financing activities:
Treasury stock purchased		(4,589	)		(1,450	)
Stock awards withheld for tax withholding		(7	)		(60	)
Dividends received from Bank		6,000			5,000
Net cash provided by financing activities		1,404			3,490
Increase in cash and cash equivalents		1,568			3,248
Cash and cash equivalents, beginning of year		10,970			7,722
Cash and cash equivalents, end of year	$	12,538			10,970