HMN Financial, Inc. Reports Net Income of $1.63 Million in Q1 2023

HMN Financial, Inc. (HMNF), a leading financial inst itution, has released its unaudited financial statements for the first quarter of 2023. The company reported a net income of $1.63 million and recorded revenue of $9.91 million during the three months ended March 31, 2023.

HMN Financial, Inc. and Subsidiaries Consolidated Balance Sheets

The consolidated balance sheet for March 31, 2023, shows that HMN Financial, Inc.'s total assets amounted to $1.07 billion, while on December 31, 2022, the total assets were reported as $1.10 billion. The decrease in assets is attributed to a reduction in cash and cash equivalents from $36.26 million to $10.12 million. Securities available for sale also declined from $246.02 million to $239.69 million. However, loans receivable, net increased from $777.08 million to $785.98 million.

Liabilities and Stockholders’ Equity