HMN Financial, Inc. Reports Strong Q3 2023 Performance with a Net Income of $1.5 Million
Company Demonstrates Resilience with $11.5 Million in Q3 Revenue
HMN Financial, Inc.(HMNF) and its subsidiaries hav e released their consolidated financial data for the third quarter of 2023, showcasing robust performance and financial stability. The company reported a net income of $1.5 million and generated $11.5 million in revenue during the three-month period ending September 30, 2023.
Consolidated Balance Sheets
Assets Grow to $1.15 Billion
HMN Financial, Inc. displayed strength in its balance sheets with a total asset growth to $1.15 billion as of September 30, 2023, compared to $1.10 billion at the end of 2022. The company's assets include a substantial cash reserve of $46.7 million and securities available for sale, valued at $218.2 million. Loans held for sale and loans receivable, net, contributed significantly to the asset base, reaching $1.9 million and $850.8 million, respectively.
