Exhibit 99.1
HF Financial Corp.
Selected Consolidated Financial Condition Data
(Dollars in Thousands)
(Unaudited)
Average Balances, Interest Yields and Rates
| | Three Months Ended | |
| | June 30, 2011 | | March 31, 2011 | |
| | Average | | Yield/Rate | | Average | | Yield/Rate | |
Interest-earning assets: | | | | | | | | | |
Loans and leases receivable (1) (3) | | $ | 837,589 | | 5.56 | % | $ | 852,532 | | 5.60 | % |
Investment securities (2) (3) | | 275,503 | | 2.19 | % | 271,829 | | 2.08 | % |
Total interest-earning assets | | 1,113,092 | | 4.73 | % | 1,124,361 | | 4.75 | % |
Noninterest-earning assets | | 81,557 | | | | 91,326 | | | |
Total assets | | $ | 1,194,649 | | | | $ | 1,215,687 | | | |
| | | | | | | | | |
Interest-bearing liabilities: | | | | | | | | | |
Deposits: | | | | | | | | | |
Checking and money market | | $ | 300,502 | | 0.63 | % | $ | 293,567 | | 0.53 | % |
Savings | | 92,610 | | 0.32 | % | 91,433 | | 0.33 | % |
Certificates of deposit | | 377,342 | | 1.81 | % | 403,093 | | 1.83 | % |
Total interest-bearing deposits | | 770,454 | | 1.17 | % | 788,093 | | 1.17 | % |
FHLB advances and other borrowings | | 164,720 | | 3.18 | % | 165,654 | | 3.43 | % |
Subordinated debentures payable to trusts | | 27,837 | | 6.51 | % | 27,837 | | 6.56 | % |
Total interest-bearing liabilities | | 963,011 | | 1.67 | % | 981,584 | | 1.71 | % |
Noninterest-bearing deposits | | 105,007 | | | | 103,120 | | | |
Other liabilities | | 31,335 | | | | 35,810 | | | |
Total liabilities | | 1,099,353 | | | | 1,120,514 | | | |
Equity | | 95,296 | | | | 95,173 | | | |
Total liabilities and equity | | $ | 1,194,649 | | | | $ | 1,215,687 | | | |
| | | | | | | | | |
Net interest spread (4) | | | | 3.06 | % | | | 3.04 | % |
Net interest margin (4) (5) | | | | 3.28 | % | | | 3.26 | % |
Net interest margin, TE (6) | | | | 3.33 | % | | | 3.31 | % |
Return on average assets (7) | | | | -0.43 | % | | | 0.15 | % |
Return on average equity (8) | | | | -5.34 | % | | | 1.96 | % |
(1) Includes loan fees and interest on accruing loans and leases past due 90 days or more.
(2) Includes federal funds sold and Federal Home Loan Bank stock.
(3) Yields do not reflect the tax exempt nature of loans, equipment leases and municipal securities.
(4) Percentages for the three months ended June 30, 2011 and March 31, 2011 have been annualized.
(5) Net interest income divided by average interest-earning assets.
(6) Net interest margin expressed on a fully taxable equivalent basis (“Net Interest Margin, TE”) is a non-GAAP financial measure. The tax-equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and adjusting for federal and state exemption of interest income and certain other permanent income tax differences. We believe that it is a standard practice in the banking industry to present net interest margin expressed on a fully taxable equivalent basis, and accordingly believe the presentation of this non-GAAP financial measure may be useful for peer comparison purposes. As a non-GAAP financial measure, Net Interest Margin, TE should be considered supplemental to and not a substitute for or superior to, financial measures calculated in accordance with GAAP. As other companies may use different calculations for Net Interest Margin, TE, this presentation may not be comparable to similarly titled measures reported by other companies.
(7) Ratio of net income to average total assets.
(8) Ratio of net income to average equity.
