Private company

HMN FINANCIAL INC

American savings institution company, incorporated in Delaware.

Last updated Oct 18, 2026.

Overview

IndustrySavings Institution, Federally Chartered
HeadquartersDE
Incorporated inDE²
Business address1016 Civic Center Drive Northwest, Rochester, Mn 55901²
Filer categoryNon-accelerated filer, Smaller reporting company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income³⁴⁵⁶⁷$6.0M in 2023+36% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Interest	$1.8M³	$2.2M⁴	$3.3M⁴	$2.9M⁵	$1.6M⁶	$2.0M⁷	$12.7M⁷
Income tax	$4.4M³	$2.9M⁴	$3.3M⁴	$4.1M⁵	$5.4M⁶	$3.2M⁷	$2.5M⁷
Net income	$4.4M³	$8.2M⁴	$7.8M⁴	$10.3M⁵	$13.6M⁶	$8.0M⁷	$6.0M⁷
Earnings per share	$1.04³	$1.89⁴	$1.69⁴	$2.23⁵	$3.03⁶	$1.85⁷	$1.38⁷
Earnings per share (diluted)	$0.90³	$1.71⁴	$1.68⁴	$2.22⁵	$3.01⁶	$1.83⁷	$1.37⁷

Total assets³⁴⁵⁶⁷$1.1B in 2023+53% since 2017

Total liabilities¹⁰³⁴⁵⁶⁷$999.4M in 2023+56% since 2017

Shareholders’ equity⁴⁵⁶⁷$107.7M in 2023+33% since 2017

Cash³⁴⁵⁶⁷$11.2M in 2023−70% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023	2024
Cash	$37.6M³	$20.7M³	$44.4M⁴	$86.3M⁵	$94.1M⁶	$36.3M⁷	$11.2M⁷
Total assets	$722.7M³	$712.3M⁴	$777.6M⁴	$909.6M⁵	$1.1B⁶	$1.1B⁷	$1.1B⁷
Total liabilities	$641.9M¹⁰	$629.2M³	$685.0M⁴	$806.3M⁵	$959.5M⁶	$998.9M⁷	$999.4M⁷
Shareholders’ equity	$80.8M⁴	$83.1M⁴	$92.6M⁵	$103.3M⁶	$110.0M⁷	$97.3M⁷	$107.7M⁷
Shares outstanding	4.5M shares¹¹	4.5M shares¹²	4.8M shares¹⁰	4.8M shares³	4.8M shares⁴	4.5M shares⁷	4.5M shares⁷	4.5M shares⁷

Cash from operations³⁴⁵⁶⁷$13.7M in 2023−20% since 2017

Capital spending³⁴⁵⁶⁷$691.0K in 2023−32% since 2017

Free cash flow³⁴⁵⁶⁷$13.0M in 2023−19% since 2017

Dividends paid⁶⁷$1.3M in 2023

Share buybacks⁴⁵⁶⁷$629.0K in 2023

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Cash from operations	$17.0M³	$17.8M⁴	$15.2M⁴	$16.9M⁵	$24.3M⁶	$31.3M⁷	$13.7M⁷
Capital spending	$1.0M³	$2.5M⁴	$2.2M⁴	$734.0K⁵	$8.3M⁶	$342.0K⁷	$691.0K⁷
Free cash flow	$16.0M	$15.3M	$13.0M	$16.2M	$16.0M	$31.0M	$13.0M
Dividends paid					$0⁶	$1.0M⁷	$1.3M⁷
Share buybacks		$0⁴	$0⁴	$1.4M⁵	$4.6M⁶	$2.1M⁷	$629.0K⁷
Dividend per share						$0.24⁷	$0.30⁷

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Leadership

Who has led HMN FINANCIAL INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

Bradley Krehbiel2013–2024

Chair

Hugh C. Smith2013–2021

President

Chief financial officer

Jon J. Eberle2013–2024

2010201520202025

Chief executive officerBradley Krehbiel Sep 10, 2013 to Oct 9, 2024¹³
ChairHugh C. Smith Dec 6, 2013 to Feb 11, 2021¹⁴
PresidentBradley Krehbiel Sep 10, 2013 to Oct 9, 2024¹³
PresidentMichael McNeil Jan 30, 2006 to Nov 20, 2008¹⁵
Chief financial officerJon J. Eberle Oct 8, 2013 to Oct 9, 2024¹⁶

Board members and other officers (27)

Senior Vice PresidentLawrence D. McGraw Jun 2, 2010 to Oct 9, 2024¹⁷
SENIOR VICE PRESIDENTDwain C. Jorgensen Jan 26, 2006 to Feb 14, 2014¹⁸
Senior Vice PresidentJon J. Eberle Jan 26, 2006 to May 23, 2013¹⁹
Senior Vice PresidentSusan K. Kolling Jan 26, 2006 to Feb 13, 2017²⁰
Board memberDavid Oeth Apr 27, 2023 to Oct 9, 2024²¹
Board memberPamela Bishop Apr 27, 2023 to Oct 9, 2024²²
Board memberJeffrey Bolton Apr 27, 2022 to Oct 9, 2024²³
Board memberWilliams Barbara Butts Apr 28, 2021 to Oct 9, 2024²⁴
Board memberSequoya S. Borgman Apr 24, 2019 to Oct 9, 2024²⁵
Board memberHans K. Zietlow Apr 27, 2016 to Oct 9, 2024²⁶
Board memberMichael A. Bue Apr 27, 2016 to Apr 28, 2021²⁷
Board memberPatricia S. Simmons Jun 9, 2015 to Jan 29, 2018²⁸
Board memberWendy S. Shannon Apr 26, 2013 to Oct 9, 2024²⁹
Board memberBradley Krehbiel Sep 10, 2013 to Oct 9, 2024¹³
Board memberKaren L. Himle Feb 3, 2012 to Apr 30, 2015³⁰
Board memberMark E. Utz May 9, 2012 to Oct 9, 2024³¹
Board memberBernard R. Nigon May 5, 2011 to Apr 28, 2022³²
Board memberAllen J. Berning May 6, 2011 to Apr 28, 2022³³
Board memberHugh C. Smith May 8, 2009 to Apr 30, 2012³⁴
Board memberAllan Deboer Jan 11, 2008 to Sep 4, 2009³⁵
Board memberMichael J. Fogarty Feb 22, 2008 to Apr 30, 2015³⁶
Board memberMalcolm W. McDonald Aug 7, 2007 to Apr 30, 2015³⁷
Board memberMahlon C. Schneider Dec 6, 2007 to Mar 9, 2009³⁸
Board memberSusan K. Kolling Jan 26, 2006 to May 23, 2013²⁰
Board memberMichael McNeil Jan 30, 2006 to Nov 20, 2008¹⁵
Board memberDuane D. Benson Jan 31, 2006 to May 14, 2009³⁹
Board memberTimothy R. Geisler Mar 2, 2006 to Apr 29, 2009⁴⁰

Timeline

Sep 10, 2013New chief executive Bradley Krehbiel becomes CEO¹³

Filings

166 filings to the SEC since October 2021: 4 annual reports, 9 quarterly reports, 30 major events, 89 insider forms, 20 large holders, 14 other. The latest 20:

Feb 13, 2025SCHEDULE 13G/A EDGAR
Feb 7, 2025SCHEDULE 13G/A EDGAR
Jan 23, 2025SCHEDULE 13G/A EDGAR
Nov 13, 2024SCHEDULE 13G/A EDGAR
Oct 23, 202415-12G EDGAR
Oct 15, 2024SC 13G/A SCHEDULE 13G/A EDGAR
Oct 10, 202425-NSE EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20244 EDGAR
Oct 9, 20248-K EDGAR

The 166 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 20 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARHMN FINANCIAL INC filings on SEC EDGAR
2
SEC EDGARHMN FINANCIAL INC filings on SEC EDGAR
3
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2017
4
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2018
5
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2020
6
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2021
7
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2022
8
SEC EDGARHMN FINANCIAL INC 10-Q for fiscal 2024
9
SEC EDGARHMN FINANCIAL INC 10-Q for fiscal 2024
10
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2017
11
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2017
12
SEC EDGARHMN FINANCIAL INC 10-K for fiscal 2018
13
SEC EDGARBradley Krehbiel, Chief executive officer
14
SEC EDGARHugh C. Smith, Chair
15
SEC EDGARMichael McNeil, President
16
SEC EDGARJon J. Eberle, Chief financial officer
17
SEC EDGARLawrence D. McGraw, Senior Vice President
18
SEC EDGARDwain C. Jorgensen, SENIOR VICE PRESIDENT
19
SEC EDGARJon J. Eberle, Senior Vice President
20
SEC EDGARSusan K. Kolling, Senior Vice President
21
SEC EDGARDavid Oeth, Board member
22
SEC EDGARPamela Bishop, Board member
23
SEC EDGARJeffrey Bolton, Board member
24
SEC EDGARWilliams Barbara Butts, Board member
25
SEC EDGARSequoya S. Borgman, Board member
26
SEC EDGARHans K. Zietlow, Board member
27
SEC EDGARMichael A. Bue, Board member
28
SEC EDGARPatricia S. Simmons, Board member
29
SEC EDGARWendy S. Shannon, Board member
30
SEC EDGARKaren L. Himle, Board member
31
SEC EDGARMark E. Utz, Board member
32
SEC EDGARBernard R. Nigon, Board member
33
SEC EDGARAllen J. Berning, Board member
34
SEC EDGARHugh C. Smith, Board member
35
SEC EDGARAllan Deboer, Board member
36
SEC EDGARMichael J. Fogarty, Board member
37
SEC EDGARMalcolm W. McDonald, Board member
38
SEC EDGARMahlon C. Schneider, Board member
39
SEC EDGARDuane D. Benson, Board member
40
SEC EDGARTimothy R. Geisler, Board member