HMN Financial Inc

HMNF

Market cap $125M

GRAND FORKS, N.D.--(BUSINESS WIRE)--Alerus Financial Corporation (Nasdaq: ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, “Alerus”) announced today they have completed the previously announced acquisition of HMN Financial, Inc. (Nasdaq: HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, “Home Federal”). Under the terms of the transaction, HMN Financial, Inc. merged with and into Alerus Financial Corporation, and Home Federal Sav.

GRAND FORKS, N.D. and ROCHESTER, Minn., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Alerus Financial Corporation (Nasdaq: ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, “Alerus”) announced today they have received all regulatory approvals necessary to complete the previously announced acquisition of HMN Financial, Inc. (Nasdaq: HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, “Home Federal”). The merger was unanimously approved by the board of directors of each company. Stockholders of each company approved the all-stock transaction during special meetings held September 12, 2024. Alerus and Home Federal anticipate the acquisition will close early in the fourth quarter of 2024, subject to customary closing conditions.

GRAND FORKS, N.D. & ROCHESTER, Minn.--(BUSINESS WIRE)--Alerus Financial Corporation (Nasdaq: ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, “Alerus”) announced today they have received all regulatory approvals necessary to complete the previously announced acquisition of HMN Financial, Inc. (Nasdaq: HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, “Home Federal”). The merger was unanimously approved by the board of directors.

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of HMN Financial, Inc. (NasdaqGM: HMNF) to Alerus Financial Corporation (NasdaqCM: ALRS). Under the terms of the proposed transaction, shareholders of HMN will receive 1.25 shares of Alerus for each share of HMN that they own. KSF is seeking to determine whether this consideration and the process that led to it a.

NEW YORK, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating HMN Financial, Inc. ( Nasdaq : HMNF ) , relating to its proposed merger with Alerus Financial Corporation. Under the terms of the agreement, each share of HMNF common stock will be converted into the right to receive 1.25 shares of Alerus common stock, with cash paid in lieu of fractional shares.

NEW YORK , July 30, 2024 /PRNewswire/ --  Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating HMN Financial, Inc. (Nasdaq: HMNF), relating to its proposed merger with Alerus Financial Corporation.

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating HMN Financial, Inc. ( Nasdaq : HMNF ) , relating to its proposed merger with Alerus Financial Corporation. Under the terms of the agreement, each share of HMNF common stock will be converted into the right to receive 1.25 shares of Alerus common stock, with cash paid in lieu of fractional shares.

ROCHESTER, Minn., July 24, 2024 (GLOBE NEWSWIRE) -- HMN Financial, Inc. (HMN or the Company) (Nasdaq:HMNF) today announced that its Board of Directors has declared a quarterly dividend of $0.10 per share of common stock, payable on September 9, 2024 to stockholders of record at the close of business on August 16, 2024. The declaration and amount of any future cash dividends remains subject to the sole discretion of the Board of Directors and will depend upon many factors, including the Company's results of operations, financial condition, capital requirements, regulatory and contractual restrictions, business strategy and other factors deemed relevant by the Board of Directors.

Second Quarter Summary Net income of $1.0 million, down $0.4 million, from $1.4 million for second quarter of 2023 Diluted earnings per share of $0.22, down $0.10, from $0.32 for second quarter of 2023 Net interest income of $7.5 million, down $0.2 million, from $7.7 million for second quarter of 2023 Gain on sales of loans of $0.6 million, up $0.3 million, from $0.3 million for second quarter of 2023 Net interest margin of 2.70%, down 20 basis points, from 2.90% for second quarter of 2023 Goodwill impairment of $0.8 million was recorded in the second quarter of 2024 As previously announced, on May 14, 2024, we entered into a definitive Agreement and Plan of Merger to which Alerus Financial Corporation (Nasdaq:ALRS) will acquire HMN Financial, Inc. in an all-stock merger. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions, including receipt of required regulatory and stockholder approvals.

MILWAUKEE , May 15, 2024 /PRNewswire/ -- Ademi LLP is investigating HMN Financial (Nasdaq: HMNF) for possible breaches of fiduciary duty and other violations of law in its transaction with Alerus. Click here to learn how to join the https://www.ademilaw.com/case/hmn-financial-inc or call Guri Ademi toll-free at 866-264-3995.