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Msg  116 of 167  at  4/17/2011 6:56:10 PM  by

liverless

The following message was updated on 4/17/2011 6:56:42 PM.

The Outstanding Growth of Home Federal

 Below is a couple of graphs that describe the loan and deposit growth of Home Federal Bancorp (of Louisiana that is, with the symbol HFBL, not HOME, which is the symbol for Home Federal Bank).
 
First a chart showing the absolute increases in loans and deposits.
 
 
 
Second, showing the yoy growth of both deposits and loans.
 
 
 
The company is showing some tremendous growth in both loans and deposits. Growth in loans and deposits is the necessary driver of growth and earnings. And that is beginning to happen.  Earnings in the 4th quarter (the second quarter by the companies accounting) were 17cents and 20cents before one-time charges.  For the 6-month period ended last quarter they were 39cents per share.
 
Put that on top of a company that is trading at ~0.8x book value, has a microscopic non-performing loans of 0.06% and still has a tremendous amount of tangible capital on its books, with a tnagible equity to assets ratio of 26.1 - meaning that there is a lot of cash on the balance sheet just waiting to be converted into further loan growth.
 
I just love this story.  HFBL and ONFC are by far my favorite regional bank picks.  In fact they are the only two I own right now. Some of the other mutual holding conversions show promise, but they can't compare with the potential of HFBL, as witnessed by the above growth.


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