Note 16 - Business Segments

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(16) 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 profit 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 quarter ended March 31, 2022:
Interest income - external customers	$	7,565			0			0			7,565
Non-interest income - external customers		2,375			0			0			2,375
Intersegment interest income		0			9			(9	)		0
Intersegment non-interest income		59			1,638			(1,697	)		0
Interest expense		292			0			(9	)		283
Provision for loan losses		296			0			0			296
Non-interest expense		7,106			205			(59	)		7,252
Income tax expense (benefit)		667			(45	)		0			622
Net income		1,638			1,487			(1,638	)		1,487
Total assets		1,028,627			100,755			(99,984	)		1,029,398
At or for the quarter ended March 31, 2021:
Interest income - external customers	$	7,889			0			0			7,889
Non-interest income - external customers		3,254			1			0			3,255
Intersegment interest income		0			8			(8	)		0
Intersegment non-interest income		58			3,594			(3,652	)		0
Interest expense		461			0			(8	)		453
Provision for loan losses		(576	)		0			0			(576	)
Non-interest expense		6,309			228			(58	)		6,479
Income tax expense (benefit)		1,413			(43	)		0			1,370
Net income		3,594			3,418			(3,594	)		3,418
Total assets		970,641			105,195			(104,531	)		971,305