January 30, 2012
HF Financial Corp. Earns $0.10 Per Share for Fiscal 2012 Second Quarter -- Operating Efficiencies Improve, Capital Ratios are Strong and Credit Quality Improves -- Declares Regular Quarterly Dividend of $0.1125 Per Share
SIOUX FALLS, SD, January 30, 2012 -- HF Financial Corp. (Nasdaq: HFFC) today reported it earned $715,000, or $0.10 per diluted share for the second fiscal quarter ended December 31, 2011, compared to $1.7 million, or $0.25 per diluted share for the prior year’s second fiscal quarter. Lower operating expenses were offset by higher loan loss provisions despite improving asset quality in the quarter compared to the preceding quarter and the corresponding quarter one year earlier. Nonperforming assets declined $3.7 million to $27.7 million, or 2.26% of assets at December 31, 2011, from 2.64% at the end of the preceding quarter and from 2.58% for the second quarter of the prior fiscal year. Capital ratios continued to remain well above minimum regulatory requirements as a result of the addition of lower risk assets, controlled growth and retained earnings...
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