News
January 30, 2009 - Home Federal Bancorp, Inc. Announces First Quarter Results
View the First Quarter Results
Nampa, ID -- Home Federal Bancorp, Inc. (the "Company") (Nasdaq GSM: HOME), the parent company of Home Federal Bank (the "Bank"), today announced first quarter results for the fiscal year ending September 30, 2009. For the quarter ended December 31, 2008, a $3.6 million provision for loan losses contributed to a net loss of ($801,000), or ($0.05) per diluted share, compared to net income of $947,000, or $0.06 per diluted share, for the same period last year. Pre-tax, pre-provision earnings(1) increased 21% to $2.2 million in the first quarter of fiscal 2009 from $1.8 million for the first quarter of fiscal 2008. The Company's efficiency ratio improved to 73.5% for the quarter ended December 31, 2008, compared to 76.6% for the same quarter a year ago as an increase in net interest income outpaced slowing service charge and fee income coupled with a slight increase in noninterest expenses.
Forward Looking Statements:
Statements in this news release regarding future events, performance or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA") and are made pursuant to the safe harbors of the PSLRA. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company's mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. Actual results could be materially different from those expressed or implied by the forward-looking statements. Factors that could cause results to differ include but are not limited to: general economic and banking business conditions, competitive conditions between banks and non-bank financial service providers, interest rate fluctuations, the credit risk of lending activities, including changes in the level and trend of loan delinquencies and write-offs; results of examinations by our banking regulators, regulatory and accounting changes, the value of mortgage servicing rights, risks related to construction and development lending, commercial and small business banking and other risks. Additional factors that could cause actual results to differ materially are disclosed in Home Federal Bancorp, Inc.'s recent filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the year ended September 30, 2008, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forwardlooking statements are accurate only as of the date released, and we do not undertake any responsibility to update or revise any forward-looking statements to reflect subsequent events or circumstances.
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Contact:
Len E. Williams, President & CEO
Eric S. Nadeau, EVP, Treasurer & CFO
Home Federal Bancorp Inc.
500 12th Avenue South
Nampa, ID 83651
208.466.4634
