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

12 Months Ended

Dec. 31, 2022

Notes Tables

Condensed Financial Statements [Table Text Block]

(Dollars in thousands)	2022			2021
Condensed Balance Sheets
Assets:
Cash and cash equivalents	$	15,250			12,538
Investment in subsidiaries		81,190			96,867
Prepaid expenses and other assets		1,046			785
Deferred tax asset, net		0			4
Total assets	$	97,486			110,194
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	$	150			163
Total liabilities		150			163
Common stock		91			91
Additional paid-in capital		41,013			40,740
Retained earnings		138,409			131,413
Net unrealized losses on securities available for sale		(19,761	)		(1,583	)
Unearned employee stock ownership plan shares		(1,063	)		(1,256	)
Treasury stock, at cost, 4,647,686 and 4,564,087 shares		(61,353	)		(59,374	)
Total stockholders' equity		97,336			110,031
Total liabilities and stockholders' equity	$	97,486			110,194
Condensed Statements of Income
Interest income	$	43			31
Equity income of subsidiaries		8,500			14,174
Compensation and benefits		(272	)		(282	)
Occupancy and equipment		(30	)		(30	)
Data processing		(6	)		(6	)
Professional services		(125	)		(111	)
Other		(404	)		(405	)
Income before income tax benefit		7,706			13,371
Income tax benefit		339			193
Net income	$	8,045			13,564
Condensed Statements of Cash Flows
Cash flows from operating activities:
Net income	$	8,045			13,564
Adjustments to reconcile net income to cash used by operating activities:
Equity income of subsidiaries		(8,500	)		(14,174	)
Deferred income tax benefit		4			10
Amortization of restricted stock awards		227			243
Amortization of unearned ESOP shares		193			194
Earned employee stock ownership shares priced above original cost		271			239
(Increase) decrease in other assets		(261	)		106
Decrease in other liabilities		(13	)		(18	)
Other, net		(1	)		0
Net cash (used) provided by operating activities		(35	)		164
Cash flows from financing activities:
Treasury stock purchased		(2,134	)		(4,589	)
Stock awards withheld for tax withholding		(70	)		(7	)
Dividends to stockholders		(1,049	)		0
Dividends received from Bank		6,000			6,000
Net cash provided by financing activities		2,747			1,404
Increase in cash and cash equivalents		2,712			1,568
Cash and cash equivalents, beginning of year		12,538			10,970
Cash and cash equivalents, end of year	$	15,250			12,538