Exhibit 23 KPMG LLP 4200 Norwest Center 90 South Seventh Street Minneapolis, MN 55402 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS The Board of Directors HMN Financial, Inc.: We consent to incorporation by reference of our report dated February 1, 2000, relating to the consolidated balance sheets of HMN Financial, Inc. as of December 31, 1999 and 1998, and the related consolidated statements of income, comprehensive income, stockholders' equity and cash flows for each of the years in the three-year period ended December 31, 1999, which report appears in the December 31, 1999 annual Report on Form 10-K of HMN Financial, Inc. in the following Registration Statements of HMN Financial, Inc.: Nos. 33-88228, 33-94388, and 33-94386 on Form S-8. /s/KPMG LLP KPMG LLP Minneapolis, Minnesota March 28, 2000 54