October 12, 2009
HF Financial Corp. Completes Repurchase of its Warrant Held by the U.S. Department of the Treasury
SIOUX FALLS, SD, June 30, 2009 – HF Financial Corp. (NASDAQ: HFFC), today announced that it has completed its repurchase from the United States Department of the Treasury of a warrant to purchase 302,419 shares of the Company’s Common Stock at an exercise price of $12.40 per share. The Warrant was issued to the Treasury in connection with the sale by the Company of 25,000 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share. The repurchase price of the preferred stock was $25 million plus a final accrued dividend of $62,500. The preferred stock and warrant were issued to the Treasury on November 21, 2008 as part of the voluntary Capital Purchase Program (CPP). Pursuant to the terms of the Warrant Repurchase agreement, the Company repurchased the Warrant for a purchase price of $650,000...
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