Exhibit 99.1
Home Federal Bancorp, Inc. of Louisiana
FOR IMMEDIATE RELEASE:
CONTACT:
Daniel R. Herndon, Chief Executive Officer
Clyde D. Patterson, Executive Vice President
Home Federal Bancorp, Inc. of Louisiana
(318) 222-1145
Home Federal Bancorp, Inc. of Louisiana Reports Net Earnings
For the Quarter Ended September 30, 2005.
Shreveport, Louisiana - November 2, 2005 - Home Federal Bancorp, Inc. of
Louisiana (OTC BB: HFBL), the "mid-tier" holding company of Home Federal
Savings and Loan Association, reported net earnings for the three months
ended September 30, 2005 of $198,000, or basic earnings per share of $.06, an
increase of $60,000, or 43.4%, as compared to the $138,000 in net earnings
for the three months ended September 30, 2004.
The increase in net earnings for the three months ended September 30, 2005
compared to the same period in 2004 was primarily due to a $142,000, or 20.8%,
increase in net interest income which was partially offset by a $106,000, or
21.7%, increase in non-interest expense. Non-interest expense for the three
months ended September 30, 2005 includes the cost associated with the vested
amount of stock options granted by the Company during the quarter ended
September 30, 2005 as well as the expense associated with the Company's
Recognition and Retention Plan also issued during the quarter.
At September 30, 2005, Home Federal Bancorp, Inc. of Louisiana reported total
assets of $110.7 million, a decrease of $581,000, or 0.5%, compared to total
assets of $111.3 million at June 30, 2005. The decrease in total assets was
due primarily to a decrease in loans receivable of $3.6 million, or 15.2%, and
a decrease in investment securities of $1.0 million, or 1.3%. These decreases
were offset by an increase in cash and cash equivalents of $3.4 million, or
36.5%, and an increase in other assets of $650,000, or 63.8%. Total
liabilities at September 30, 2005 were $79.6 million, an increase of $708,000,
or 0.9%, compared to total liabilities of 78.9 million at June 30, 2005.
The increase in total liabilities was due primarily to an increase in deposits
of $1.3 million, or 1.9%. This increase was offset by a decrease in advances
from the Federal Home Loan Bank of Dallas of $674,000, or 8.2%.
Stockholders' equity decreased $1.3 million to $31.1 million, or 28.1% of total
assets at September 30, 2005, compared to $32.4 million, or 29.1% of total
assets at June 30, 2005. The decrease in stockholders' equity is due primarily
to the change in the Company's accumulated other comprehensive income (loss),
decreasing from a balance of $309,000 at June 30, 2005 to a balance of
($473,000) at September 30, 2005, the purchase of 66,400 shares of the
Company's stock at a cost of $654,000 for its Recognition and Retention Plan,
and dividends of $71,000 paid during the quarter. These decreases were offset
by earnings of $198,000 for the quarter ended September 30, 2005.
Home Federal Bancorp, Inc. of Louisiana is the mid-tier thrift holding company
for Home Federal Savings and Loan Association which conducts business from its
main office and two branch offices in northwest Louisiana. The Company's
Internet address is http://www. homefederalbancorp.com.
This news release contains certain forward-looking statements, including
statements about the financial condition, results of operations and earnings
outlook for Home Federal Bancorp, Inc. of Louisiana. Forward-looking
statements can be identified by the fact that they do not relate strictly to
historical or current facts. They often include words such as "believe,"
"expect," "anticipate," "estimate" and "intend" or future or conditional
verbs such as "will," "would," "should," "could" or "may." Forward-looking
statements, by their nature, are subject to risks and uncertainties. A number
of factors - many of which are beyond the Company's control - could cause
actual conditions, events or results to differ significantly from those
described in the forward-looking statements. The Company's reports filed from
time-to-time with the Securities and Exchange Commission, describe some of
these factors, including general economic conditions, changes in interest
rates, deposit flows, the cost of funds, changes in credit quality and
interest rate risks associated with the Company's business and operations.
Other factors described include changes in our loan portfolio, changes in
competition, fiscal and monetary policies and legislation and regulatory
changes. Investors are encouraged to access the Company's periodic reports
filed with the Securities and Exchange Commission for financial and business
information regarding the Company at www.homefederalbancorp.com under the
Investor Relations menu. We undertake no obligation to update any forward-
looking statements.
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Home Federal Bancorp, Inc. of Louisiana
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
September 30, June 30,
ASSETS 2005 2005
_______________ ___________
(Unaudited) (Audited)
Cash and cash equivalents $ 12,681 $ 9,292
Investment securities 76,339 77,373
Loans receivable 20,059 23,645
Other assets 1,669 1,019
_______ _______
Total assets $110,748 $111,329
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LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits $ 71,297 $ 69,995
Advances from the Federal Home Loan Bank of Dallas 7,551 8,225
Other liabilities 758 678
_______ _______
Total liabilities $ 79,606 $ 78,898
======= =======
Stockholders' equity 31,142 32,431
_______ _______
Total liabilities and stockholders' equity $110,748 $111,329
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Home Federal Bancorp, Inc. of Louisiana
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share data)
Three months ended
September 30,
______________________
2005 2004
__________ __________
(Unaudited)
Total interest income $ 1,379 $ 1,193
Total interest expense 553 509
______ ______
Net interest income 826 684
Provision for loan losses - -
______ ______
Net interest income after provision
for loan losses 826 684
Non-interest income 65 11
Non-interest expense 591 486
______ ______
Income before income taxes 300 209
Income taxes 102 71
______ ______
NET INCOME $ 198 $ 138
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EARNINGS PER SHARE
Basic $ 0.06 n/a
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Diluted $ 0.06 n/a
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