Exhibit 99.1
For Immediate Release – March 24, 2006
For Information Contact:
Curtis L. Hage, Chairman, President and CEO
Sioux Falls, South Dakota
Phone: (605) 333-7556
HF Financial Corp. Announces a 10% Stock Dividend
Curtis L. Hage, Chairman, President and CEO of HF Financial Corp. (NASDAQ: HFFC) announced that the Board of Directors of HF Financial Corp. has declared a 10% stock dividend payable April 24, 2006 to shareholders of record at April 10, 2006.
Mr. Hage stated, “The Board of Directors is pleased to issue this 10% stock dividend, we expect this stock dividend, along with our ongoing business strategies, to enhance long term shareholder value and liquidity. The increase in market value for the company over the two last years warrants the payment of this stock dividend.”
HF Financial Corp. had approximately 3.6 million shares outstanding on December 31, 2005. Following the stock dividend, the company will have approximately 3.9 million shares outstanding. Fractional shares resulting from the stock dividend will be paid in cash.
The Company had total assets of $934.1 million and stockholders’ equity of $55.0 million at December 31, 2005. The Company is the largest publicly traded financial institution based in South Dakota, with 35 offices, which includes a location in Marshall, Minnesota. Internet banking is also available at www.homefederal.com.
