Home Federal Bancorp, Inc. of Louisiana reported its financial results for the second quarter of fiscal 2025, revealing a net income of $1.02 million for the three months ended December 31, 2024, a slight increase from $1.003 million in the same period last year. For the six months ended December 31, 2024, net income totaled $1.96 million, down from $2.22 million in the prior year. The company's earnings per share remained stable at $0.33 for the latest quarter, while the six-month earnings per share decreased to $0.64 from $0.73.
The company experienced a decrease in total assets, which fell by $29.7 million, or 4.7%, from $637.5 million at June 30, 2024, to $607.8 million at December 31, 2024. This decline was primarily attributed to a significant reduction in cash and cash equivalents, which decreased by $15.4 million, or 44.1%. Additionally, net loans receivable decreased by $12.2 million, or 2.6%, reflecting a drop in commercial real estate and multi-family residential loans. Total deposits also saw a decline of $27.5 million, or 4.8%, primarily due to a decrease in certificates of deposit.
In terms of operational developments, Home Federal Bancorp's non-interest income increased by $351,000, or 256.2%, compared to the same quarter last year, driven by a reduction in losses on the sale of real estate. However, non-interest expenses decreased by $413,000, or 9.7%, due to lower costs in various categories, including compensation and benefits. The company reported a total of $1.8 million in non-performing assets at the end of December 2024, a slight decrease from $1.9 million at the end of June 2024.
Looking ahead, Home Federal Bancorp remains focused on maintaining its regulatory capital ratios, which are well above the minimum requirements. As of December 31, 2024, the bank's common equity tier 1 capital ratio stood at 13.23%. The company plans to leverage its liquidity to support lending activities, with outstanding loan commitments of $35.5 million and unused lines of credit of $12.6 million. The management expressed confidence in navigating the current economic landscape, although they acknowledged potential challenges related to interest rates and market conditions.
About Home Federal Bancorp, Inc. of Louisiana
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