January 28, 2013
HF Financial Corp. Reports Earnings of $0.15 per share in Second Fiscal Quarter -- Earnings Increase 44% From Prior Year Quarter, Core Deposit Growth and Strong Mortgage Production Highlight the Quarter, Declares Regular Quarterly Dividend of $0.1125 per Share
SIOUX FALLS, SD, January 28, 2013 -- HF Financial Corp. (Nasdaq: HFFC) today reported its earnings increased 44% to $1.0 million, or $0.15 per diluted share for the second fiscal quarter ended December 31, 2012, compared to $715,000, or $0.10 per diluted share for the prior year's second fiscal quarter. Similar to the preceding quarter, improving asset quality produced low provisions for loan and lease losses, increased loan production and gains on the sale of mortgage loans along with a reduction in expenses helped to drive results for the quarter. HF Financial increased its deposits more than 4% since fiscal year end and foreclosed properties have declined 45%. Capital ratios continued to remain well above minimum regulatory requirements, and tangible book value per share was $13.42 at quarter end...
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