false06-302024FY0001500375http://fasb.org/us-gaap/2024#AccountingStandardsUpdate201613Memberhttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2024#OtherAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2024#PensionPlansDefinedBenefitMemberhttp://homefederalbancorp.com/20240630#HomeFederalBankEmployeesSavingsAndProfitSharingPlanAndTrustMemberhttp://fasb.org/us-gaap/2024#UnfundedPlanMemberP5Y21368600015003752023-07-012024-06-3000015003752023-12-3100015003752024-09-2300015003752022-07-012023-06-3000015003752023-06-3000015003752024-06-300001500375us-gaap:RetainedEarningsMember2022-06-300001500375us-gaap:AdditionalPaidInCapitalMember2022-06-3000015003752022-06-300001500375hfbl:UnearnedEsopStockMember2022-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001500375us-gaap:CommonStockMember2022-06-300001500375us-gaap:CommonStockMember2022-07-012023-06-300001500375us-gaap:RetainedEarningsMember2022-07-012023-06-300001500375hfbl:UnearnedEsopStockMember2023-07-012024-06-300001500375hfbl:UnearnedEsopStockMember2022-07-012023-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012023-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012024-06-300001500375us-gaap:CommonStockMember2023-07-012024-06-300001500375us-gaap:RetainedEarningsMember2023-07-012024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2022-07-012023-06-300001500375us-gaap:AdditionalPaidInCapitalMember2023-07-012024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2024-06-300001500375us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhfbl:UnearnedEsopStockMember2023-06-300001500375hfbl:UnearnedEsopStockMember2023-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2023-06-300001500375us-gaap:CommonStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375us-gaap:CommonStockMember2023-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001500375us-gaap:RetainedEarningsMember2024-06-300001500375us-gaap:RetainedEarningsMember2023-06-300001500375us-gaap:CommonStockMember2024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375hfbl:UnearnedEsopStockMember2024-06-3000015003752024-04-012024-06-300001500375us-gaap:CreditConcentrationRiskMemberhfbl:MindenMember2023-07-012024-06-300001500375hfbl:MindenMember2023-07-012024-06-300001500375hfbl:BossierCityMember2023-07-012024-06-300001500375hfbl:ShreveportMemberus-gaap:CreditConcentrationRiskMember2023-07-012024-06-300001500375us-gaap:CreditConcentrationRiskMember2023-07-012024-06-300001500375hfbl:BentonMember2023-07-012024-06-300001500375hfbl:ShreveportMember2023-07-012024-06-300001500375hfbl:BossierCityMemberus-gaap:CreditConcentrationRiskMember2023-07-012024-06-300001500375hfbl:BentonMemberus-gaap:CreditConcentrationRiskMember2023-07-012024-06-300001500375hfbl:FurnitureAndEquipmentMembersrt:MinimumMember2024-06-300001500375srt:MaximumMemberhfbl:FurnitureAndEquipmentMember2024-06-300001500375us-gaap:BuildingAndBuildingImprovementsMembersrt:MinimumMember2024-06-300001500375srt:MaximumMemberus-gaap:BuildingAndBuildingImprovementsMember2024-06-300001500375us-gaap:CoreDepositsMember2024-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2023-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2023-06-300001500375us-gaap:USTreasurySecuritiesMember2023-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-06-300001500375us-gaap:USTreasurySecuritiesMember2024-06-300001500375us-gaap:DebtSecuritiesMember2023-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMember2023-06-300001500375us-gaap:DebtSecuritiesMember2024-06-300001500375us-gaap:MortgageBackedSecuritiesMember2024-06-300001500375us-gaap:MortgageBackedSecuritiesMember2023-06-300001500375hfbl:PublicDepositsMemberus-gaap:AssetPledgedAsCollateralMember2023-06-300001500375us-gaap:AssetPledgedAsCollateralMemberhfbl:PublicDepositsMember2024-06-300001500375us-gaap:AssetPledgedAsCollateralMemberus-gaap:FederalHomeLoanBankAdvancesMember2024-06-300001500375us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:ConsumerLoansOnSavingsAccountsMemberus-gaap:ConsumerPortfolioSegmentMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberhfbl:ConsumerLoansOtherFinancingReceivableMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-06-300001500375hfbl:ConsumerLoansOtherFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberhfbl:ConsumerLoansOnSavingsAccountsMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375us-gaap:SubstandardMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:PassMemberhfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ConstructionLoansMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2024-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberhfbl:OneToFourFamilyResidentialMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375us-gaap:SubstandardMember2024-06-300001500375us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ConstructionLoansMember2024-06-300001500375us-gaap:SpecialMentionMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMemberus-gaap:PassMember2024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375us-gaap:LandMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2024-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberhfbl:OneToFourFamilyResidentialMember2024-06-300001500375us-gaap:SpecialMentionMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:PassMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:PassMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2023-07-012024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2023-07-012024-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-07-012024-06-300001500375us-gaap:CommercialPortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:SpecialMentionMember2023-06-300001500375us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2023-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberhfbl:EquityAndSecondMortgageMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:SubstandardMember2023-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:LandMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:SpecialMentionMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:PassMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:LandMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:PassMemberus-gaap:ConsumerPortfolioSegmentMember2023-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2023-06-300001500375us-gaap:SubstandardMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberhfbl:OneToFourFamilyResidentialMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:PassMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2023-06-300001500375us-gaap:PassMember2023-06-300001500375us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2023-06-300001500375us-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2023-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhfbl:MultiFamilyResidentialMember2023-06-300001500375us-gaap:LandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMember2023-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhfbl:EquityAndSecondMortgageMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:EquityAndSecondMortgageMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberhfbl:OneToFourFamilyResidentialMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:FinancialAssetPastDueMember2023-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhfbl:MultiFamilyResidentialMember2023-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:MultiFamilyResidentialMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:LandMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhfbl:OneToFourFamilyResidentialMember2023-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:HomeEquityMember2023-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:OneToFourFamilyResidentialMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:EquityAndSecondMortgageMember2023-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhfbl:EquityAndSecondMortgageMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstateMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-06-300001500375us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2022-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CommercialRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Memberhfbl:MultiFamilyResidentialMember2023-06-300001500375us-gaap:CommercialPortfolioSegmentMember2022-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2022-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2022-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:LandMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-07-012023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMember2022-07-012023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2022-07-012023-06-300001500375us-gaap:CommercialPortfolioSegmentMember2022-07-012023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-07-012023-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-07-012023-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2022-07-012023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2022-07-012023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMembersrt:MinimumMemberhfbl:MultiFamilyResidentialMember2023-07-012024-06-300001500375us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2023-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-07-012023-06-300001500375us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2022-07-012023-06-300001500375hfbl:OtherLoansExcludingMortgageLoansMember2024-06-300001500375us-gaap:InvestmentsMember2023-06-300001500375us-gaap:InvestmentsMember2024-06-300001500375us-gaap:MortgageReceivablesMember2023-06-300001500375us-gaap:MortgageReceivablesMember2024-06-300001500375hfbl:OtherLoansExcludingMortgageLoansMember2023-06-300001500375us-gaap:ConstructionInProgressMember2023-06-300001500375us-gaap:LandMember2024-06-300001500375us-gaap:ConstructionInProgressMember2024-06-300001500375us-gaap:BuildingMember2023-06-300001500375us-gaap:EquipmentMember2024-06-300001500375us-gaap:BuildingMember2024-06-300001500375us-gaap:LeaseholdImprovementsMember2023-06-300001500375us-gaap:LandMember2023-06-300001500375us-gaap:LeaseholdImprovementsMember2024-06-300001500375us-gaap:EquipmentMember2023-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2023-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMember2023-06-300001500375hfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2024-06-300001500375hfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2023-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMember2024-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMember2024-06-300001500375hfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2024-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMember2023-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMember2023-06-300001500375hfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2023-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2024-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMember2024-06-300001500375srt:MinimumMemberhfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2024-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMembersrt:MinimumMember2024-06-300001500375srt:MaximumMemberhfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2024-06-300001500375srt:MaximumMemberhfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2024-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMembersrt:MinimumMember2024-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMembersrt:MaximumMember2024-06-300001500375srt:MaximumMemberhfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2024-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMembersrt:MaximumMember2024-06-300001500375hfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMembersrt:MinimumMember2024-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMembersrt:MinimumMember2024-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMembersrt:MinimumMember2024-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMembersrt:MaximumMember2024-06-300001500375us-gaap:FederalHomeLoanBankBorrowingsMember2024-06-300001500375us-gaap:FederalHomeLoanBankBorrowingsMember2023-07-012024-06-300001500375hfbl:SurvivorBenefitPlanMemberus-gaap:OtherPensionPlansDefinedBenefitMember2023-07-012024-06-300001500375hfbl:SurvivorBenefitPlanMemberus-gaap:OtherPensionPlansDefinedBenefitMember2024-06-300001500375hfbl:SurvivorBenefitPlanMemberus-gaap:OtherPensionPlansDefinedBenefitMember2023-06-300001500375srt:ChiefExecutiveOfficerMemberhfbl:SupplementalExecutiveRetirementAgreementMemberus-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2023-07-012024-06-300001500375us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberhfbl:SupplementalExecutiveRetirementAgreementMember2023-07-012024-06-300001500375us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberhfbl:SupplementalExecutiveRetirementAgreementMember2022-07-012023-06-3000015003752004-07-012005-06-300001500375us-gaap:LoansReceivableMember2024-06-300001500375us-gaap:LoansReceivableMember2005-06-300001500375us-gaap:LoansReceivableMember2004-07-012005-06-300001500375us-gaap:LoansReceivableMember2023-07-012024-06-300001500375hfbl:StockIncentivePlan2019Member2019-11-130001500375hfbl:StockIncentivePlan2014Member2014-11-120001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2019Member2020-11-110001500375hfbl:StockIncentivePlan2019Memberus-gaap:PerformanceSharesMember2024-06-300001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2019Member2020-11-110001500375us-gaap:PerformanceSharesMembersrt:MaximumMemberhfbl:StockIncentivePlan2014Member2014-11-120001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2019Member2024-06-300001500375us-gaap:PerformanceSharesMembersrt:MaximumMemberhfbl:StockIncentivePlan2019Member2019-11-130001500375hfbl:StockIncentivePlan2019Memberus-gaap:PerformanceSharesMembersrt:MaximumMember2019-11-132019-11-130001500375us-gaap:PerformanceSharesMembersrt:MaximumMemberhfbl:StockIncentivePlan2014Member2014-11-122014-11-120001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2014-11-120001500375hfbl:StockIncentivePlan2019Memberus-gaap:PerformanceSharesMember2023-07-012024-06-300001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2014Member2019-02-052019-02-050001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2014Member2015-10-262015-10-260001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2019-02-052019-02-050001500375hfbl:StockIncentivePlan2019Memberus-gaap:EmployeeStockOptionMember2023-07-012024-06-300001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2015-10-262015-10-260001500375hfbl:StockIncentivePlan2014Member2023-07-012024-06-300001500375us-gaap:EmployeeStockOptionMember2023-07-012024-06-300001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2023-07-012024-06-300001500375hfbl:StockIncentivePlan2014Member2024-06-300001500375hfbl:StockIncentivePlansMemberhfbl:AwardedSharesMember2023-06-300001500375hfbl:StockIncentivePlansMemberhfbl:AwardedSharesMember2022-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2022-07-012023-06-300001500375hfbl:StockIncentivePlansMemberhfbl:AwardedSharesMember2023-07-012024-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2024-06-3000015003752021-07-012022-06-300001500375hfbl:StockIncentivePlan2014Member2019-02-052019-02-050001500375hfbl:StockIncentivePlan2014Member2024-01-312024-01-310001500375hfbl:StockIncentivePlan2019Member2020-11-112020-11-110001500375us-gaap:EmployeeStockOptionMember2023-06-300001500375us-gaap:EmployeeStockOptionMember2024-06-300001500375us-gaap:EmployeeStockOptionMember2022-07-012023-06-300001500375us-gaap:StandbyLettersOfCreditMember2023-06-300001500375us-gaap:CommitmentsToExtendCreditMember2024-06-300001500375us-gaap:StandbyLettersOfCreditMember2024-06-300001500375us-gaap:CommitmentsToExtendCreditMember2023-06-300001500375srt:SubsidiariesMember2023-07-012024-06-300001500375srt:SubsidiariesMember2022-07-012023-06-3000015003752021-01-012023-06-300001500375us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001500375us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001500375us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001500375us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001500375us-gaap:LoanOriginationCommitmentsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001500375us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LoanOriginationCommitmentsMember2023-06-300001500375us-gaap:LoanOriginationCommitmentsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001500375us-gaap:LoanOriginationCommitmentsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueInputsLevel3Member2023-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2023-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMember2023-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMember2024-06-300001500375hfbl:DebitCardInterchangeFeesMember2022-07-012023-06-300001500375hfbl:ATMSurchargeIncomeMember2023-07-012024-06-300001500375hfbl:ATMSurchargeIncomeMember2022-07-012023-06-300001500375hfbl:FeesNonSufficientFundsMember2022-07-012023-06-300001500375hfbl:DebitCardInterchangeFeesMember2023-07-012024-06-300001500375hfbl:FeesNonSufficientFundsMember2023-07-012024-06-300001500375hfbl:LossOnSaleOfRealEstateMember2023-07-012024-06-300001500375hfbl:LossOnSaleOfRealEstateMember2022-07-012023-06-300001500375hfbl:NorthwestBancsharesCorporationMember2023-02-010001500375hfbl:NorthwestBancsharesCorporationMemberus-gaap:ChangeDuringPeriodFairValueDisclosureMember2023-02-010001500375hfbl:NorthwestBancsharesCorporationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-02-010001500375us-gaap:CarryingReportedAmountFairValueDisclosureMemberhfbl:NorthwestBancsharesCorporationMember2023-02-012023-02-010001500375hfbl:NorthwestBancsharesCorporationMember2023-02-012023-02-010001500375hfbl:NorthwestBancsharesCorporationMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2023-02-012023-02-010001500375hfbl:NorthwestBancsharesCorporationMemberus-gaap:PerformingFinancingReceivableMember2023-02-012023-02-010001500375us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhfbl:NorthwestBancsharesCorporationMemberus-gaap:AccountingStandardsUpdate201613Member2023-02-012023-02-010001500375us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:AccountingStandardsUpdate201613Memberhfbl:NorthwestBancsharesCorporationMember2023-02-012023-02-010001500375srt:ParentCompanyMember2024-06-300001500375srt:ParentCompanyMember2023-06-300001500375srt:ParentCompanyMember2022-07-012023-06-300001500375srt:ParentCompanyMember2023-07-012024-06-300001500375srt:ParentCompanyMember2022-06-30iso4217:USDxbrli:sharesiso4217:USDxbrli:shareshfbl:Branchhfbl:Securityhfbl:Unithfbl:Loanxbrli:purehfbl:Agehfbl:qtrutr:mi

false06-302025FY0001500375http://fasb.org/us-gaap/2025#AccountingStandardsUpdate201613Memberhttp://fasb.org/us-gaap/2025#OtherAssetshttp://fasb.org/us-gaap/2025#OtherAssetshttp://fasb.org/us-gaap/2025#OtherAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2025#OtherAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2025#PensionPlansDefinedBenefitMemberhttp://homefederalbancorp.com/20250630#HomeFederalBankEmployeesSavingsAndProfitSharingPlanAndTrustMemberhttp://fasb.org/us-gaap/2025#UnfundedPlanMemberP5Y21300015003752024-07-012025-06-3000015003752024-12-3100015003752025-09-2200015003752025-06-3000015003752024-06-3000015003752023-07-012024-06-300001500375us-gaap:CommonStockMember2023-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000015003752023-06-300001500375hfbl:UnearnedEsopStockMember2023-06-300001500375us-gaap:AdditionalPaidInCapitalMember2023-06-300001500375us-gaap:RetainedEarningsMember2023-06-300001500375us-gaap:RetainedEarningsMember2023-07-012024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2023-07-012024-06-300001500375us-gaap:RetainedEarningsMember2024-07-012025-06-300001500375hfbl:UnearnedEsopStockMember2023-07-012024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2024-07-012025-06-300001500375us-gaap:CommonStockMember2024-07-012025-06-300001500375hfbl:UnearnedEsopStockMember2024-07-012025-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012025-06-300001500375us-gaap:CommonStockMember2023-07-012024-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012024-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2024-06-300001500375us-gaap:AdditionalPaidInCapitalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2024-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001500375us-gaap:CommonStockMember2025-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001500375us-gaap:RetainedEarningsMember2024-06-300001500375us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300001500375hfbl:UnearnedEsopStockMember2025-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhfbl:UnearnedEsopStockMember2024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2025-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommonStockMember2024-06-300001500375hfbl:UnearnedEsopStockMember2024-06-300001500375us-gaap:AdditionalPaidInCapitalMember2024-06-300001500375us-gaap:CommonStockMember2024-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2024-06-300001500375us-gaap:RetainedEarningsMember2025-06-3000015003752025-04-012025-06-300001500375us-gaap:CreditConcentrationRiskMember2024-07-012025-06-300001500375us-gaap:CreditConcentrationRiskMemberhfbl:BentonMember2024-07-012025-06-300001500375hfbl:BossierCityMember2024-07-012025-06-300001500375hfbl:BentonMember2024-07-012025-06-300001500375hfbl:BossierCityMemberus-gaap:CreditConcentrationRiskMember2024-07-012025-06-300001500375hfbl:ShreveportMemberus-gaap:CreditConcentrationRiskMember2024-07-012025-06-300001500375hfbl:MindenMember2024-07-012025-06-300001500375hfbl:ShreveportMember2024-07-012025-06-300001500375hfbl:MindenMemberus-gaap:CreditConcentrationRiskMember2024-07-012025-06-300001500375srt:MaximumMemberus-gaap:BuildingAndBuildingImprovementsMember2025-06-300001500375srt:MinimumMemberhfbl:FurnitureAndEquipmentMember2025-06-300001500375hfbl:FurnitureAndEquipmentMembersrt:MaximumMember2025-06-300001500375us-gaap:BuildingAndBuildingImprovementsMembersrt:MinimumMember2025-06-300001500375us-gaap:CoreDepositsMember2025-06-3000015003752022-07-012023-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-06-300001500375us-gaap:DebtSecuritiesMember2025-06-300001500375us-gaap:USTreasurySecuritiesMember2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2025-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2025-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-06-300001500375us-gaap:DebtSecuritiesMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2025-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:MortgageBackedSecuritiesMember2025-06-300001500375us-gaap:MortgageBackedSecuritiesMember2024-06-300001500375us-gaap:DepositsMemberus-gaap:AssetPledgedAsCollateralMember2025-06-300001500375us-gaap:DepositsMemberus-gaap:AssetPledgedAsCollateralMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:ConsumerLoansOnSavingsAccountsMemberus-gaap:ConsumerPortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2025-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:ConsumerLoansOtherFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2025-06-300001500375us-gaap:CommercialPortfolioSegmentMember2025-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberhfbl:ConsumerLoansOtherFinancingReceivableMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:ConsumerLoansOnSavingsAccountsMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2025-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberhfbl:OneToFourFamilyResidentialMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:PassWatchMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2025-06-300001500375us-gaap:LandMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:PassMember2025-06-300001500375us-gaap:CommercialPortfolioSegmentMemberhfbl:PassWatchMember2025-06-300001500375us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberhfbl:MultiFamilyResidentialMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:PassWatchMemberus-gaap:LandMember2025-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:ConstructionLoansMember2024-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300001500375us-gaap:SpecialMentionMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:PassMember2024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:PassWatchMemberus-gaap:ConstructionLoansMember2025-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300001500375us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2024-06-300001500375us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:SpecialMentionMember2025-06-300001500375us-gaap:SubstandardMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:PassMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberhfbl:PassWatchMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:PassMember2024-06-300001500375us-gaap:PassMemberhfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:SubstandardMemberhfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:SubstandardMember2025-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375hfbl:PassWatchMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:SpecialMentionMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberhfbl:PassWatchMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2025-06-300001500375us-gaap:SubstandardMember2025-06-300001500375us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:PassMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:LandMember2025-06-300001500375us-gaap:CommercialRealEstateMemberhfbl:PassWatchMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2025-06-300001500375us-gaap:SubstandardMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300001500375us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2024-06-300001500375us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:LandMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2023-07-012024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012025-06-300001500375us-gaap:CommercialPortfolioSegmentMember2024-07-012025-06-300001500375us-gaap:CommercialPortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMember2024-07-012025-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2024-07-012025-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012025-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2024-07-012025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2023-07-012024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-07-012024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012025-06-300001500375us-gaap:LandMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberhfbl:OneToFourFamilyResidentialMember2025-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:HomeEquityMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:LandMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMember2025-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstateMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2024-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMemberhfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:HomeEquityMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberhfbl:EquityAndSecondMortgageMember2025-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2025-06-300001500375us-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:FinancialAssetPastDueMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:OneToFourFamilyResidentialMember2025-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2025-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhfbl:EquityAndSecondMortgageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMemberus-gaap:FinancialAssetPastDueMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetPastDueMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:OneToFourFamilyResidentialMember2025-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMember2025-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300001500375us-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:MultiFamilyResidentialMember2025-06-300001500375hfbl:EquityAndSecondMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300001500375us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMember2025-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:LandMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhfbl:EquityAndSecondMortgageMember2024-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhfbl:OneToFourFamilyResidentialMember2024-06-300001500375us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300001500375us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300001500375us-gaap:LandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstateMember2024-06-300001500375us-gaap:FinancialAssetNotPastDueMember2025-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberhfbl:EquityAndSecondMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300001500375us-gaap:CommercialPortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMember2023-06-300001500375us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2023-06-300001500375hfbl:HomeEquityLoansAndLinesOfCreditMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:ConstructionLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LandMember2023-06-300001500375srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstateMemberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Memberhfbl:MultiFamilyResidentialMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-06-300001500375hfbl:MultiFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375hfbl:OneToFourFamilyResidentialMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300001500375us-gaap:ConsumerPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2023-06-300001500375us-gaap:CommercialPortfolioSegmentMember2023-06-300001500375us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhfbl:HomeEquityLoansAndLinesOfCreditMember2023-06-300001500375srt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:ResidentialRealEstateMemberhfbl:MultiFamilyResidentialMember2024-07-012025-06-300001500375hfbl:OtherLoansExcludingMortgageLoansMember2024-06-300001500375us-gaap:USTreasurySecuritiesMember2025-06-300001500375us-gaap:MortgageReceivablesMember2024-06-300001500375us-gaap:MortgageReceivablesMember2025-06-300001500375us-gaap:InvestmentsMember2025-06-300001500375hfbl:OtherLoansExcludingMortgageLoansMember2025-06-300001500375us-gaap:InvestmentsMember2024-06-300001500375us-gaap:LeaseholdImprovementsMember2024-06-300001500375us-gaap:LeaseholdImprovementsMember2025-06-300001500375us-gaap:LandMember2024-06-300001500375us-gaap:BuildingMember2025-06-300001500375us-gaap:BuildingMember2024-06-300001500375us-gaap:ConstructionInProgressMember2025-06-300001500375us-gaap:LandImprovementsMember2025-06-300001500375us-gaap:EquipmentMember2025-06-300001500375us-gaap:EquipmentMember2024-06-300001500375us-gaap:ConstructionInProgressMember2024-06-300001500375us-gaap:LandMember2025-06-300001500375us-gaap:LandImprovementsMember2024-06-300001500375hfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2025-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2025-06-300001500375hfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2025-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMember2025-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMember2025-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMember2025-06-300001500375hfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2024-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2024-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMember2024-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMember2024-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMember2024-06-300001500375hfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2024-06-300001500375srt:MaximumMemberhfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2025-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMembersrt:MinimumMember2025-06-300001500375hfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMembersrt:MinimumMember2025-06-300001500375hfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMembersrt:MaximumMember2025-06-300001500375srt:MaximumMemberhfbl:ZeroPointZeroZeroPercentToZeroPointNineNinePercentMember2025-06-300001500375srt:MinimumMemberhfbl:TwoPointZeroZeroPercentToTwoPointNineNinePercentMember2025-06-300001500375srt:MinimumMemberhfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMember2025-06-300001500375hfbl:OnePointZeroZeroPercentToOnePointNineNinePercentMembersrt:MaximumMember2025-06-300001500375hfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMembersrt:MaximumMember2025-06-300001500375srt:MinimumMemberhfbl:FourPointZeroZeroPercentToFourPointNineNinePercentMember2025-06-300001500375srt:MinimumMemberhfbl:ThreePointZeroZeroPercentToThreePointNineNinePercentMember2025-06-300001500375hfbl:FivePointZeroZeroPercentToFivePointNineNinePercentMembersrt:MaximumMember2025-06-300001500375us-gaap:FederalHomeLoanBankBorrowingsMember2025-06-300001500375us-gaap:FederalHomeLoanBankBorrowingsMember2024-07-012025-06-300001500375us-gaap:OtherPensionPlansDefinedBenefitMemberhfbl:SurvivorBenefitPlanMember2024-07-012025-06-300001500375us-gaap:OtherPensionPlansDefinedBenefitMemberhfbl:SurvivorBenefitPlanMember2024-06-300001500375us-gaap:OtherPensionPlansDefinedBenefitMemberhfbl:SurvivorBenefitPlanMember2025-06-300001500375srt:ChiefExecutiveOfficerMemberus-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberhfbl:SupplementalExecutiveRetirementAgreementMember2024-07-012025-06-300001500375us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberhfbl:SupplementalExecutiveRetirementAgreementMember2024-07-012025-06-300001500375us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberhfbl:SupplementalExecutiveRetirementAgreementMember2023-07-012024-06-3000015003752004-07-012005-06-300001500375us-gaap:LoansReceivableMember2005-06-300001500375us-gaap:LoansReceivableMember2025-06-300001500375us-gaap:LoansReceivableMember2004-07-012005-06-300001500375us-gaap:LoansReceivableMember2024-07-012025-06-300001500375hfbl:StockIncentivePlan2014Member2014-11-120001500375hfbl:StockIncentivePlan2019Member2019-11-130001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2019Member2020-11-110001500375srt:MaximumMemberus-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2019Member2019-11-130001500375srt:MaximumMemberhfbl:StockIncentivePlan2014Memberus-gaap:PerformanceSharesMember2014-11-120001500375hfbl:StockIncentivePlan2019Memberus-gaap:EmployeeStockOptionMember2025-06-300001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2019Member2020-11-110001500375hfbl:StockIncentivePlan2019Memberus-gaap:PerformanceSharesMembersrt:MaximumMember2019-11-132019-11-130001500375hfbl:StockIncentivePlan2014Membersrt:MaximumMemberus-gaap:PerformanceSharesMember2014-11-122014-11-120001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2014-11-120001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2014Member2024-07-242024-07-240001500375us-gaap:PerformanceSharesMemberhfbl:StockIncentivePlan2014Member2024-07-012025-06-300001500375hfbl:StockIncentivePlan2014Memberus-gaap:EmployeeStockOptionMember2024-01-312024-01-310001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2019Member2024-07-242024-07-240001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2024-07-242024-07-240001500375us-gaap:EmployeeStockOptionMember2024-07-012025-06-300001500375hfbl:StockIncentivePlan2014Member2024-07-012025-06-300001500375hfbl:StockIncentivePlan2019Member2024-07-012025-06-300001500375us-gaap:EmployeeStockOptionMemberhfbl:StockIncentivePlan2014Member2024-07-012025-06-300001500375hfbl:StockIncentivePlan2019Memberus-gaap:EmployeeStockOptionMember2024-07-012025-06-300001500375hfbl:StockIncentivePlan2014Member2025-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2023-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2024-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2024-07-012025-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2023-07-012024-06-300001500375hfbl:AwardedSharesMemberhfbl:StockIncentivePlansMember2025-06-300001500375hfbl:StockIncentivePlan2014Member2024-01-312024-01-310001500375hfbl:StockIncentivePlan2019Member2020-11-112020-11-110001500375hfbl:StockIncentivePlans2014And2019Member2024-07-242024-07-240001500375us-gaap:EmployeeStockOptionMember2024-06-300001500375us-gaap:EmployeeStockOptionMember2025-06-300001500375us-gaap:EmployeeStockOptionMember2023-07-012024-06-300001500375us-gaap:CommitmentsToExtendCreditMember2024-06-300001500375us-gaap:StandbyLettersOfCreditMember2024-06-300001500375us-gaap:CommitmentsToExtendCreditMember2025-06-300001500375us-gaap:StandbyLettersOfCreditMember2025-06-300001500375srt:SubsidiariesMember2024-07-012025-06-300001500375srt:SubsidiariesMember2023-07-012024-06-300001500375us-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:FairValueInputsLevel2Member2025-06-300001500375us-gaap:EstimateOfFairValueFairValueDisclosureMember2025-06-300001500375us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001500375us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001500375us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-06-300001500375us-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FairValueInputsLevel3Member2025-06-300001500375us-gaap:FairValueInputsLevel1Member2025-06-300001500375us-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueInputsLevel3Member2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel1Member2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2025-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001500375us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-06-300001500375us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMemberus-gaap:FairValueInputsLevel2Member2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-06-300001500375us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember2025-06-300001500375us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300001500375us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMember2024-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMember2025-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001500375us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2024-06-300001500375hfbl:LossOnSaleOfRealEstateMember2023-07-012024-06-300001500375hfbl:ATMSurchargeIncomeMember2023-07-012024-06-300001500375hfbl:ATMSurchargeIncomeMember2024-07-012025-06-300001500375hfbl:DebitCardInterchangeFeesMember2023-07-012024-06-300001500375hfbl:FeesNonSufficientFundsMember2024-07-012025-06-300001500375hfbl:LossOnSaleOfRealEstateMember2024-07-012025-06-300001500375hfbl:DebitCardInterchangeFeesMember2024-07-012025-06-300001500375hfbl:FeesNonSufficientFundsMember2023-07-012024-06-300001500375srt:ParentCompanyMember2024-06-300001500375srt:ParentCompanyMember2025-06-300001500375srt:ParentCompanyMember2023-07-012024-06-300001500375srt:ParentCompanyMember2024-07-012025-06-300001500375srt:ParentCompanyMember2023-06-30iso4217:USDxbrli:sharesiso4217:USDxbrli:shareshfbl:Branchhfbl:Segmenthfbl:Securityhfbl:Unithfbl:Loanxbrli:purehfbl:Agehfbl:qtrutr:mi

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, ~~2024~~2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _________________. Commission File Number 001-35019

HOME FEDERAL BANCORP, INC. OF LOUISIANA

(Exact name of registrant as specified in its charter)

Louisiana		02-0815311
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)

624 Market Street, Shreveport, Louisiana		71101
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code:

(318) 222-1145

Securities registered pursuant to Section 12(b) of the Act:
Title of each Class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (par value $0.01 per share)	HFBL	Nasdaq Stock Market, LLC
Common Stock (par value $.01 per share)	HFBL	Nasdaq Stock Market, LLC

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.	Yes	☐	No	☒
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.	Yes	☐	No	☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 5(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒ The aggregate value of the 2,~~094~~159,~~490~~282 shares of Common Stock of the Registrant issued and outstanding on December 31, ~~2023~~2024, which excludes an aggregate of 1973,~~049,042~~482 shares held by all directors and executive officers of the Registrant, the Registrant’s Employee Stock Ownership Plan (“ESOP”) and Employees’ Savings and Profit Sharing Plan (“401(k) Plan”) as a group was $3027.01 million. This figure is based on the closing sales price of $1412.3455 per share of the Registrant’s Common Stock on December 31, ~~2023~~2024, the last business day of the Registrant’s second fiscal quarter. Although directors and executive officers, the ESOP and 401(k) Plan were assumed to be “affiliates” of the Registrant for purposes of this calculation, the classification is not to be interpreted as an admission of such status. Number of shares of Common Stock outstanding as of September 2322, ~~2024~~2025: 3,~~131~~058,~~668~~169 DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement for the ~~2024~~2025 Annual Meeting of Stockholders are incorporated into Part III, Items 10 through 14.

Home Federal Bancorp Inc. of Louisiana

Form 10-K

For the Year Ended June 30, ~~2024~~2025

PART I.
Item 1.	Business	1
Item 1A.	Risk Factors	2625
Item 1B.	Unresolved Staff Comments	2625
Item 1C	Cybersecurity	26
Item 1C.	Cybersecurity	25
Item 2.	Properties	2726
Item 3.	Legal Proceedings	2726
Item 4.	Mine Safety Disclosures	2726
PART II.
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	2827
Item 6.	[Reserved]	2827
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	2827
Item 7A.	Quantitative and Qualitative Disclosure About Market Risk	3938
Item 8.	Financial Statements and Supplementary Data	4039
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	9391
Item 9A.	Controls and Procedures	9391
Item 9B.	Other Information	9391
Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	9392
PART III.
Item 10.	Directors, Executive Officers and Corporate Governance	9492
Item 11.	Executive Compensation	9492
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	9492
Item 13.	Certain Relationships and Related Transactions and Director Independence	9493
Item 14.	Principal Accountant Fees and Services	9593
PART IV.
Item 15.	Exhibit and Financial Statement Schedules	9593
Item 16.	Form 10-K Summary	9693
SIGNATURES		9794

Table of Contents

PART I

Item 1. Business

Home Federal Bancorp, Inc. of Louisiana, a Louisiana chartered corporation (“Home Federal Bancorp” or the “Company”), is the holding company for Home Federal Bank (“Home Federal Bank” or the “Bank”). Home Federal Bank is a federally chartered stock savings bank originally organized in 1924 as Home Building and Loan Association. The Bank reorganized into the mutual holding company structure in January 2005 and changed its name to “Home Federal Bank” in 2009 as part of its business strategy to be recognized as a community bank. Home Federal Bank’s home office and ten full service branch offices are located in Caddo, Bossier and Webster Parishes, Louisiana and serve the Shreveport-Bossier City-Minden combined statistical area. In February 2023, the Bank acquired First National Bank of Benton and its full service branch office in Benton, Louisiana. Home Federal Bank’s business primarily consists of attracting deposits from the general public and using those funds to originate loans.

As of June 30, ~~2024~~2025, Home Federal Bancorp’s only business activities are to hold all of the outstanding common stock of Home Federal Bank. Home Federal Bancorp is authorized to pursue other business activities permitted by applicable laws and regulations for savings and loan holding companies, which may include the issuance of additional shares of common stock to raise capital or to support mergers or acquisitions and borrowing funds for reinvestment in Home Federal Bank.

Home Federal Bancorp does not own or lease any property but instead uses the premises, equipment, and furniture of Home Federal Bank. At the present time, Home Federal Bancorp employs only persons who are officers of Home Federal Bank to serve as officers of Home Federal Bancorp and may also use the support staff of Home Federal Bank from time to time. These other persons are not separately compensated by Home Federal Bancorp.

Pursuant to the regulations under Sections 23A and 23B of the Federal Reserve Act, Home Federal Bank and Home Federal Bancorp have entered into an expense sharing agreement. Under this agreement, Home Federal Bancorp will reimburse Home Federal Bank for the time that employees of Home Federal Bank devote to activities of Home Federal Bancorp, the portion of the expense of the annual independent audit attributable to Home Federal Bancorp, and all expenses attributable to Home Federal Bancorp’s public filing obligations under the Securities Exchange Act of 1934.

Market Area

Our primary market area for loans and deposits is in northwest Louisiana, particularly Caddo Parish and neighboring communities in Bossier and Webster Parishes, which are located in the Shreveport-Bossier City-Minden combined statistical area.

Our primary market area in northern Louisiana has a diversified economy with employment in services, government, and wholesale/retail trade constituting the basis of the local economy, with service jobs being the largest component. The majority of the services are health care related as Shreveport has become a regional hub for health care. The casino gaming industry also supports a significant number of the service jobs. The energy sector has a prominent role in the regional economy, resulting from oil and gas exploration and drilling.

Competition. We face significant competition both in attracting deposits and in making loans. Our most direct competition for deposits has come historically from commercial banks, credit unions, and other savings institutions located in our primary market area, including many large financial institutions which have greater financial and marketing resources available to them. In addition, we face significant competition for investors’ funds from short-term money market securities, mutual funds, and other corporate and government securities. We do not rely upon any individual group or entity for a material portion of our deposits. Our ability to attract and retain deposits depends on our ability to generally provide a rate of return, liquidity, and risk comparable to that offered by competing investment opportunities.

Table of Contents

Our competition for real estate loans comes principally from mortgage banking companies, commercial banks, other savings institutions, and credit unions. We compete for loan originations primarily through the interest rates and loan fees we charge and the efficiency and quality of services we provide borrowers. Factors which affect competition include general and local economic conditions, current interest rate levels, and volatility in the mortgage markets. Competition may increase as a result of the continuing reduction of restrictions on the interstate operations of financial institutions.

Lending Activities

General. At June 30, ~~2024~~2025, our net loan portfolio amounted to $~~470~~461.9 0 million, representing approximately 7375.964% of total assets at that date. Historically, our principal lending activity was the origination of one-to-four family residential loans. At June 30, ~~2024~~2025, one-to-four family residential loans amounted to $~~178~~175.3 0 million, or 37.559% of the total loan portfolio. We have sold a substantial amount of our fixed-rate conforming one-to-four family residential loans to correspondent banks. Commercial real estate loans amounted to $~~143~~138.5 9 million, or 30 29.284% of the total loan portfolio, at June 30, ~~2024~~2025.

The types of loans that we may originate are subject to federal and state laws and regulations. Interest rates charged on loans are affected principally by the demand for such loans, the supply of money available for lending purposes, and the rates offered by our competitors. These factors are, in turn, affected by general and economic conditions, the monetary policy of the federal government, including the Federal Reserve Board, legislative and tax policies, and governmental budgetary matters.

A savings institution generally may not make loans to one borrower and related entities in an amount which exceeds 15% of its unimpaired capital and surplus, although loans in an ~~amount~~ amount equal to an additional 10% of unimpaired capital and surplus may be made to a borrower, if the loans are fully secured by readily marketable securities. In addition, upon application, the Office of the Comptroller of the Currency permits a savings institution to lend up to an additional 15% of unimpaired capital and surplus to one borrower to develop domestic residential housing units. At June 30, ~~2024~~2025, our regulatory limit on loans to one borrower was $9.06 million, and the five largest loans or groups of loans to one borrower, including related entities, aggregated $5.5 6 million, $5.4 million, $5.0 2 million, $5.0 2 million, and $4.5 9 million. Each of our five largest loans or groups of loans was originated with strong guarantor support to known borrowers in our market area and was performing in accordance with its terms at June 30, ~~2024~~2025.

Loans to or guaranteed by general obligations of a state or political subdivision are not subject to the foregoing lending limits.

Table of Contents

Loan Portfolio Composition. The following table shows the composition of our loan portfolio by type of loan at the dates indicated.

June 30,

2024

2023

2025

2024

Amount

Percent of Total Loans

Amount

Percent of Total Loans

Percent

of Total

Amount

Loans

Amount

Loans

(Dollars in thousands)

Real estate loans:

One-to-four family residential(1)

~~178~~174,~~347~~978

37.5159

~~179~~178,~~579~~347

3637.2951

Commercial – real estate secured:

Owner occupied

9785,~~571~~761

2018.5282

~~104~~97,~~974~~571

2120.2252

Non-owner occupied

4553,~~889~~159

911.6542

4345,~~467~~889

89.7865

Total commercial-real estate secured

~~143~~138,~~460~~920

3029.1784

~~148~~143,~~441~~460

30.0017

Multi-family residential

3732,~~092~~283

76.8093

2837,~~849~~092

57.8380

Land

30,~~737~~054

6.4645

2630,~~841~~737

56.4246

Construction

1511,~~704~~226

32.3041

2815,~~035~~704

53.6730

Home equity loans and second mortgage loans

2,~~634~~520

0.5654

2,~~450~~634

0.5056

Equity lines of credit

1720,~~046~~354

34.5837

2317,~~817~~046

43.8158

Total real estate loans

~~425~~410,~~020~~335

8988.3813

~~438~~425,~~012~~020

8889.5238

Commercial business

4954,~~256~~138

1011.3663

5549,~~364~~256

1110.1936

Consumer non-real estate loans:

Savings accounts

~~393~~381

0.08

~~372~~393

0.0708

Consumer loans

~~855~~739

0.1816

~~1,082~~855

0.2218

Total non-real estate loans

5055,~~504~~258

1011.6287

5650,~~818~~504

1110.4862

Total loans

~~475~~465,~~524~~593

100.00

~~494~~475,~~830~~524

100.00

Less:

Allowance for credit losses

(4,~~574~~484

)

(54,~~173~~574

)

Deferred loan fees

(98105

)

(~~164~~98

)

Net loans receivable (1)

~~470~~461,~~852~~004

~~489~~470,~~493~~852

(1) Does not include loans held-for-sale amounting to $1.75 million and $~~4,000~~1.7 million at June 30, ~~2024~~2025 and ~~2023~~2024, respectively.

Origination of Loans. Our lending activities are subject to written underwriting standards and loan origination procedures established by the board of directors and management. When applicable, loans originated are also subject to the underwriting standards of Fannie Mae, Freddie Mac, HUD, VA, USDA, and correspondent banks that purchase loans we originate. Loan originations are obtained through a variety of sources, primarily from existing customers, local realtors, and builders. Written loan applications are taken by one of our loan officers. The loan officer also supervises the procurement of credit reports, income and asset documentation, and other documentation involved with a loan. All appraisals are ordered through an approved appraisal management company in compliance with the Dodd-Frank Consumer Protection Act. Under our lending policy, a title insurance policy is required on most mortgage loans, with the exception of certain smaller loan amounts where our policy requires a title opinion only. We also require fire and extended coverage casualty insurance in order to protect the properties securing the real estate loans. Borrowers must also obtain flood insurance policies when the property is in a flood hazard area.

Table of Contents

Our loan approval process is intended to assess the borrower’s ability to repay the loan, the viability of the loan, and the value of the property that will secure the loan. All residential loans originated for sale to FNMA or other investor banks that receive an Approve-Eligible recommendation on the automated underwriting feedback certificate that is applicable for each loan type must be approved by a Bank mortgage underwriter. Loans that do not receive an Approve-Eligible recommendation must be approved by a Bank mortgage underwriter and the Senior Vice President of Mortgage. In addition, all loans originated to be held on the Bank’s portfolio must be approved by a Bank mortgage underwriter and the Senior Vice President of Mortgage for loans up to $500,000, and for loans up to $1.0 million by the Senior Credit Officer. Commercial real estate secured loans and lines of credit and commercial business loans up to $1.0 million must be approved by the Senior Credit Officer or the Chairman of the Board, President and Chief Executive Officer, up to $2.0 million by the Senior Credit Officer and the Chairman of the Board, President and Chief Executive Officer, and in excess of $2.0 million by the Executive Committee. In accordance with past practice, all loans are ratified by our board of directors.

In recent periods, we have originated and sold a substantial amount of our fixed-rate conforming mortgages to correspondent banks. For the year ended June 30, ~~2024~~2025, we originated $4943.7 2 million of one-to-four family residential loans and sold $1618.03 million of such loans. Our residential loan originations primarily consist of conventional, rural development, FHA, and VA loans.

The following table shows total loans originated, sold, and repaid during the periods indicated.

	Year Ended June 30,
	2024			2023
	2025			2024
	(In thousands)
Loan originations:
One-to-four family residential	$	4943,~~685~~174		$	~~$59~~49,~~319~~685
Commercial — real estate secured:
Owner occupied		1318,~~060~~505			3313,~~562~~060
Non-owner occupied		105,~~069~~897			1910,~~289~~069
Multi-family residential		~~4,289~~23			214,~~233~~289
Commercial business		7261,~~577~~830			5172,~~314~~577
Land		197,~~564~~748			1219,~~514~~564
Construction		235,~~256~~796			2523,~~300~~256
Home equity loans and lines of credit and other consumer		1713,~~538~~457			2117,~~493~~538
Total loan originations		~~210~~156,~~038~~430			~~244~~210,~~024~~038
Loans purchased		~~395~~16,047			~~54,949~~395
Total loan originations and loans purchased		~~210~~172,~~433~~477			~~298~~210,~~973~~433
Loans Sold		(1518,~~982~~312	)		(2415,~~865~~982	)
Loan principal repayments		(~~211~~163,~~072~~590	)		(~~171~~211,~~869~~072	)
Total loan originations and purchases, net of loans sold and principal repayments		(169,~~621~~425	)		~~102~~(16,~~239~~621	)
(Decrease) increase due to other items, net(1)		(~~291)~~616	)		~~103~~(291	)
Net (decrease) increase in loan portfolio	$	(16,912	)	$	102,342
Less: (Decrease) increase in loans held for sale
Net (decrease) increase in loan portfolio(2)	$	$ (10,041	)	$	(16,912	)

(1) Other items consist of deferred loan fees, ~~and~~ the allowance for credit losses, loans transferred to other real estate owned, and mark to market amortization for purchased loans.

~~Although~~(2) ~~federal~~Includes ~~laws~~net ~~and~~change regulations permit savings institutions to originate and purchase loans secured by real estate located throughout the United States, we concentrate our lending activity in our primary market area in Caddo, Bossier and Webster Parishes, Louisiana and the surrounding area. Subject to our loans-to-one borrower limitation, we are permitted to invest without limitation in residential mortgage loans and up to 400% of ~~our capital in~~ loans ~~secured~~held ~~by non-residential or commercial real estate. We also may invest in secured and unsecured consumer loans in an amount not exceeding 35% of total assets. This 35% limitation may be exceeded~~ for certain types of consumer loans, such as home equity and property improvement loans secured by residential real property. In addition, we may invest up to 10% of our total assets in secured and unsecured loans for commercial, corporate, business, or agricultural purposes. At June 30, 2024, we were within each of the above lending limits.sale

~~During~~Although ~~fiscal~~federal ~~2024~~laws and ~~2023,~~regulations wepermit ~~sold~~savings ~~$16.0 million~~institutions ~~and~~to ~~$24.9~~originate ~~million~~and ofpurchase loans, ~~respectively.~~secured Weby ~~recognized~~real ~~gain~~estate onlocated ~~sale~~throughout ofthe ~~loans~~United ~~of $265~~States,~~000~~ ~~and~~we concentrate our lending ~~$466,000~~activity ~~during~~in ~~fiscal~~our ~~2024~~primary market area in Caddo, Bossier and ~~2023~~Webster Parishes, ~~respectively~~Louisiana and the surrounding area. ~~Loans~~Subject ~~were~~to ~~sold~~our ~~during~~loans-to-one ~~these~~borrower ~~periods~~limitation, ~~primarily~~we are permitted to ~~other~~invest ~~financial~~without ~~institutions.~~limitation ~~Such~~in residential mortgage loans ~~were~~and ~~sold~~up to ~~against~~400% ~~forward~~of ~~sales~~our ~~commitments~~capital ~~with~~in ~~servicing~~loans ~~released~~secured by non-residential or commercial real estate. We also may invest in secured and ~~without~~unsecured ~~recourse~~consumer ~~after~~loans ~~a certain~~in ~~period~~an ofamount ~~time,~~not ~~typically~~exceeding 9035% ~~days~~of total assets. ~~The~~This ~~loans~~35% ~~sold~~limitation ~~primarily~~may ~~consisted~~be exceeded for certain types of ~~long-term~~consumer loans, ~~fixed~~such ~~rate~~as ~~residential~~home ~~real~~equity ~~estate~~and property improvement loans secured by residential real property. WeIn ~~will~~addition, ~~continue~~we may invest up to ~~sell~~10% ~~loans~~of inour ~~the~~total ~~future~~assets toin ~~the~~secured ~~extent~~and weunsecured ~~believe~~loans ~~the~~for ~~interest~~commercial, ~~rate~~corporate, ~~environment~~business, isor ~~unfavorable~~agricultural ~~and~~purposes. ~~interest~~At ~~rate~~June ~~risk~~30, is2025, ~~unacceptable~~we were within each of the above lending limits.

During fiscal 2025 and 2024, we sold $18.3 million and $16.0 million of loans, respectively. We recognized gain on sale of loans of $384,000 and $265,000 during fiscal 2025 and 2024, respectively. Loans were sold during these periods primarily to other financial institutions. Such loans were sold against forward sales commitments with servicing released and without recourse after a certain period of time, typically 90 days. The loans sold primarily consisted of long-term, fixed rate residential real estate loans. We will continue to sell loans in the future to the extent we believe the interest rate environment is unfavorable and interest rate risk is unacceptable.

Table of Contents

Contractual Terms to Final Maturities. The following table shows the scheduled contractual maturities of our loans as of June 30, ~~2024~~2025, before giving effect to net items. Demand loans, loans having no stated schedule of repayments and no stated maturity, and overdrafts are reported as due in one year or less. The amounts shown below do not take into account loan prepayments.

One-to- Four Family Residential

Commercial Real Estate Secured

Multi Family Residential

Commercial Business

Land

Construction

Home Equity Loans and Lines of Credit and Other Consumer

Total

(In thousands)

Amounts due after June 30, 2024 in:

Amounts due after June 30, 2025 in:

One year or less

1215,~~223~~027

16,~~170~~918

107,~~652~~265

814,~~105~~738

1416,~~353~~605

155,~~704~~045

24,~~663~~309

79,~~870~~907

After one year through two years

1318,~~194~~825

1021,~~883~~699

47,~~357~~158

92,~~273~~646

64,~~755~~060

--4,551

15,~~627~~710

4664,~~089~~649

After two years through three years

2227,~~108~~259

2223,~~866~~571

~~4,506~~462

38,~~482~~220

2,~~852~~115

--130

51,~~211~~993

6163,~~025~~750

After three years through five years

4521,~~763~~467

5344,~~688~~754

2,~~369~~473

18,~~674~~895

5,~~338~~888

--1,500

~~572~~232

~~126~~95,~~404~~209

After five years through ten years

97,~~343~~779

3629,~~748~~174

2,~~684~~637

87,~~229~~909

~~701~~653

1,~~794~~551

5949,~~499~~703

After ten years through fifteen years

89,~~865~~040

1,~~397~~159

1011,~~406~~161

1,~~493~~730

--86

810,~~892~~036

3133,~~053~~212

After fifteen years

6675,~~851~~581

1,~~708~~645

21,~~118~~127

~~738~~647

~~169~~163

7179,~~584~~163

Total

~~178~~174,~~347~~978

~~143~~138,~~460~~920

3732,~~092~~283

4954,~~256~~138

30,~~737~~054

1511,~~704~~226

2023,~~928~~994

~~475~~465,~~524~~593

The following table sets forth the dollar amount of all loans at June 30, ~~2024~~2025, before net items, due after June 30, ~~2025~~2026, which have fixed interest rates or which have floating or adjustable ~~interest~~ interest rates.

Fixed-Rate

Floating or Adjustable-Rate

Total

Floating or

Fixed-Rate

Adjustable-Rate

Total

(In thousands)

One-to-four family residential

~~114~~103,~~545~~697

5156,~~579~~254

~~166~~159,~~124~~951

Commercial — real estate secured

~~124~~116,~~065~~162

35,~~225~~840

~~127~~122,~~290~~002

Multi-family residential

2625,~~438~~008

210

2625,~~440~~018

Commercial business

3337,~~846~~287

72,~~305~~113

4139,~~151~~400

Land

159,~~055~~289

14,~~329~~160

1613,~~384~~449

Construction

--6,026

--155

--6,181

Home equity loans and lines of credit and other consumer

87,~~384~~421

912,~~881~~264

1819,~~265~~685

Total

~~322~~304,~~333~~890

7380,~~321~~796

~~395~~385,~~654~~686

Scheduled contractual maturities of loans do not necessarily reflect the actual expected term of the loan portfolio. The average life of mortgage loans is substantially less than their average contractual terms because of prepayments. The average life of mortgage loans tends to increase when current mortgage loan rates are higher than rates on existing mortgage loans and, conversely, decrease when rates on current mortgage loans are lower than existing mortgage loan rates (due to refinancing of adjustable-rate and fixed-rate loans at lower rates). Under the latter circumstance, the weighted average yield on loans decreases as higher yielding loans are repaid or refinanced at lower rates.

One-to-Four Family Residential Real Estate Loans. As of June 30, 2025, one-to-four family residential loans were $175.0 million, or 37.59%, of the total loan portfolio, before net items.

Table of Contents

One-to-Four Family Residential Real Estate Loans. As of June 30, 2024, one-to-four family residential loans were $178.3 million, or 37.5%, of the total loan portfolio, before net items.

The loan-to-value ratios, maturities, and other provisions of the loans made by us generally have reflected the policy of making less than the maximum loan permissible under applicable regulations, in accordance with sound lending practices, market conditions, and underwriting standards established by us. Our current lending policy on one-to-four family residential loans generally limits the maximum loan-to-value ratio to 90% or less of the appraised value of the property, although we will lend up to a 100% loan-to-value ratio with private mortgage insurance. These loans are amortized on a monthly basis with principal and interest due each month, terms not in excess of 30 years, and generally include “due-on-sale” clauses.

At June 30, ~~2024~~2025, $~~126~~118.67 million, or 7167.85%, of our one-to-four family residential mortgage loans were fixed-rate loans. Fixed-rate loans generally have maturities ranging from 15 to 30 years and are fully amortizing with monthly loan payments sufficient to repay the total amount of the loan with interest by the end of the loan term. Our fixed-rate loans generally are originated under terms, conditions, and documentation which permit them to be sold to U.S. Government-sponsored agencies, such as the Federal Home Loan Mortgage Corporation and other investors in the secondary mortgage market. Consistent with our asset/liability management, we have sold a significant portion of our long-term, fixed rate loans. Servicing is released on all loans sold.

Although we offer adjustable rate loans, substantially all of the single-family loan originations over the last few years have consisted of fixed-rate loans due to the low interest rate environment. The adjustable-rate loans held in portfolio typically have interest rates which adjust on an annual basis. These loans generally have an annual cap of 1% on any increase or decrease and a cap of 6% above or below the initial rate over the life of the loan. Such loans are underwritten based on the initial rate plus 2%. At June 30, ~~2024~~2025, $5156.73 million, or 2932.15%, of our one-to-four family residential mortgage loans were adjustable rate loans.

Commercial Real Estate Secured Loans. As of June 30, ~~2024~~2025, ~~Home~~loans ~~Federal~~secured ~~Bank~~by ~~had~~commercial ~~outstanding~~real estate were $~~143~~138.59 million, or 29.84% of ~~loans secured~~the bytotal ~~commercial~~loan ~~real~~portfolio, ~~estate~~before net items. Of those loans, $9785.68 million, or 6861.073%, ~~of which~~ were owner occupied. It is the current policy of Home Federal Bank to lend in a first lien position on real property occupied as a commercial business property. Home Federal Bank offers fixed and variable rate commercial real estate loans. Home Federal Bank’s commercial real estate loans are limited to a maximum of 85% of the appraised value and have terms up to 15 years, however, the terms are generally no more than five years with amortization periods of 20 years or less. It is our policy that commercial real estate secured lines of credit are limited to a maximum of 85% of the appraised value of the property and shall not exceed three to five year amortizations.

Multi-Family Residential Loans. As of June 30, ~~2024~~2025, multi-family residential loans were $3732.1 3 million, or 76.893%, of the total loan portfolio, before net items. Our multi-family residential loan portfolio includes income producing properties of five or more units and low income housing developments. We obtain personal guarantees on all properties other than those of the public housing authority for which they are not permitted.

Commercial Business Loans. As of June 30, ~~2024~~2025, non-real estate secured commercial loans were $4954.3 1 million, or 1011.463%, of the total loan portfolio, before net items. The business lending products we offer include lines of credit, inventory financing, and equipment loans. Commercial business loans and lines of credit carry more credit risk than other types of commercial loans. We attempt to limit such risk by making loans predominantly to small- and mid-sized businesses located within our market area and having the loans personally guaranteed by the principals involved. We have established underwriting standards in regard to business loans which set forth the criteria for sources of repayment, borrower’s capacity to repay, specific financial and collateral margins, and financial enhancements such as guarantees. The primary source of repayment is cash flow from the business and the general financial strength of the borrower.

Table of Contents

Land Loans. As of June 30, ~~2024~~2025, land loans were $30.7 1 million, or 6.545%, of the total loan portfolio, before net items. Land loans include land which has been acquired for the purpose of development and unimproved land. Our loan policy provides for loan-to-value ratios of 50% for unimproved land loans. Land loans are originated with fixed rates and terms up to five years with longer amortizations. Although land loans generally are considered to have greater credit risk than certain other types of loans, we expect to mitigate such risk by requiring personal guarantees and identifying other secondary sources of repayment for the land loan other than the sale of the collateral. It is our practice to only originate a limited amount of loans for speculative development to borrowers with whom our lenders have a prior relationship.

Construction Loans. As of June 30, ~~2024~~2025, construction loans were $1511.7 2 million, or 32.341%, of the total loan portfolio, before net items. These included loans for the construction of residential and commercial property. Our residential construction loans typically have terms of six to twelve months with a takeout letter from Home Federal for the permanent mortgage. Our commercial construction loans include owner occupied commercial properties, pre-sold property, and speculative office property. As of June 30, ~~2024~~2025, we held $~~1.7 million~~ 940,000 of speculative construction loans.

Home Equity and Second Mortgage Loans. As of June 30, ~~2024~~2025, home equity and second mortgage loans were $2.6 5 million, or 0.654%, of the total loan portfolio, before net items. These loans are secured by the underlying equity in the borrower’s residence. We do not require that we hold the first mortgage on the properties that secure the second mortgage loans. The amount of our second mortgage loans generally cannot exceed a loan-to-value ratio of 90% after taking into consideration the first mortgage loan. These loans are typically three-to-five year balloon loans with fixed rates and terms that will not exceed 10 years and contain an on-demand clause that allows us to call the loan in at any time.

Equity Lines of Credit. As of June 30, ~~2024~~2025, lines of credit secured by a borrower’s equity in real estate were $1720.0 4 million, or 34.637%, of the total loan portfolio, before net items. The unused portion of equity lines was $1413.8 1 million at June 30, ~~2024~~2025. The rates and terms of such lines of credit depend on the history and income of the borrower, purpose of the loan, and collateral. Lines of credit will not exceed 90% of the value of the equity in the collateral.

Consumer Non-Real Estate Loans. We are authorized to make loans for a wide variety of personal or consumer purposes. We originate consumer loans primarily in order to accommodate our customers. The consumer loans at June 30, ~~2024~~2025 consist of loans secured by deposit accounts with us, automobile loans, overdraft, and other ~~unsecured~~ unsecured loans.

Consumer non-real estate loans generally have shorter terms and higher interest rates than residential mortgage loans and generally entail greater credit risk than residential mortgage loans, particularly those loans secured by assets that depreciate rapidly, such as automobiles, boats, and recreational vehicles. In such cases, repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment for the outstanding loan, and the remaining deficiency often does not warrant further substantial collection efforts against the borrower. In particular, amounts realizable on the sale of repossessed automobiles may be significantly reduced based upon the condition of the automobiles and the fluctuating demand for used automobiles.

We offer loans secured by deposit accounts held with us. These loans amounted to $~~393~~381,000, or 0.108% of the total loan portfolio, before net items, at June 30, ~~2024~~2025. Such loans are originated for up to 100% of the account balance, with a hold placed on the account restricting the withdrawal of the account balance. The interest rate on the loan is equal to the interest rate paid on the account plus 2%. These loans typically are payable on demand with a maturity date of one year.

Loan Origination and Other Fees. In addition to interest earned on loans, we generally receive loan origination fees or “points” for originating loans. Loan points are a percentage of the principal amount of the mortgage loan and are charged to the borrower in connection with the origination of the loan. In accordance with accounting guidance, loan origination fees and points are deferred and amortized into income as an adjustment of yield over the life of the loan.

Table of Contents

Asset Quality

General. During fiscal ~~2024~~2025 our annual review commenced in ~~September~~August ~~2023~~2024 and was completed in October ~~2023~~2024. Our next annual review ~~commenced~~is intentatively ~~August~~scheduled ~~2024~~for January 2026. The scope of the services provided included testing of credit underwriting, adherence to our loan policies, as well as regulatory policies, and recommendations regarding reserve allocations. We expect these reviews will be done roughly every twelve to eighteen months.

Our collection procedures provide that when a loan is 10 days past due personal contact efforts are attempted, either in person or by telephone. At 15 days past due, a late charge notice is sent to the borrower requesting payment. If the loan is still past due at 30 days, a formal letter is sent to the borrower stating that the loan is past due and that legal action, including foreclosure proceedings, may be necessary. If a loan becomes 60 days past due and no progress has been made in resolving the delinquency, a collection letter from legal counsel is sent and personal contact is attempted. When a loan continues in a delinquent status for 90 days or more, and a repayment schedule has not been made or kept by the borrower, generally a notice of intent to foreclose is sent to the borrower. If the delinquency is not cured, foreclosure proceedings are initiated. In most cases, deficiencies are cured promptly. While we generally prefer to work with borrowers to resolve such problems, we will institute foreclosure or other collection proceedings, when necessary, to minimize any potential loss.

Loans are placed on non-accrual status when management believes the probability of collection of interest is doubtful. When a loan is placed on non-accrual status, previously accrued but unpaid interest is deducted from interest income. We generally discontinue the accrual of interest income when the loan becomes 90 days past due, as to principal or interest, unless the credit is well secured and we believe we will fully collect.

Real estate and other assets we acquire as a result of foreclosure or by deed-in-lieu of foreclosure are classified as real estate owned until sold. At June 30, ~~2024~~2025, we had $~~418~~970,000 in other real estate owned consisting of ~~two~~one single family ~~residences~~residence compared to $~~368~~418,000 of real estate owned at June 30, ~~2023~~2024 consisting of two single family residences.

Delinquent Loans. The following table shows the delinquencies in our loan portfolio as of the dates indicated.

	June 30,
	2024										2023
	2025										2024
	30 – 89 Days Overdue					90 or More Days Overdue					30 – 89 Days Overdue					90 or More Days Overdue
	Number of Loans		Principal Balance			Number of Loans		Principal Balance			Number of Loans		Principal Balance			Number of Loans		Principal Balance
	Number		Principal			Number		Principal			Number		Principal			Number		Principal
	of Loans		Balance			of Loans		Balance			of Loans		Balance			of Loans		Balance
	(Dollars in thousands)
One-to-four family residential		79	$	1,~~319~~027			46	$	~~1,189~~963			37	$	~~927~~1,319			14	$	1,~~175~~189
Commercial – real estate secured		--1		--99			--2		--967			--		--			--		--
Multi-family residential		--		--			--		--			--		--			--		--
Commercial business		--1		--8			23		9038			3-		63-			--2		--90
Land		--1		--17			--		--			1-		36-			--		--
Construction		--		--			--		--			--		--			--		--
Home equity loans and lines of credit and other consumer		32		6277			32		~~240~~367			3		5462			--3		--240
Total delinquent loans		1014	$	1,~~381~~228			913	$	12,~~519~~335			10	$	1,~~080~~381			19	$	1,~~175~~519
Delinquent loans to total net loans				0.2927	%				0.3251	%				0.2229	%				0.2432	%
Delinquent loans to total loans				0.2926	%				0.3250	%				0.2229	%				0.2432	%

Table of Contents

Non-Performing Assets. The following table shows the amounts of our non-performing assets (defined as non-accruing loans, accruing loans 90 days or more past due, and real estate owned) at the dates indicated.

	June 30,
	2024			2023
	2025			2024
	(Dollars in thousands)
Non-accruing loans:
One-to-four family residential	$	~~1,073~~711		$	1,~~164~~073
Commercial — real estate secured		--967			--
Multi-family residential		--			--
Commercial business		9038			6490
Land		--			--
Construction		--			--
Home equity loans and lines of credit and other consumer		~~240~~367			--240
Total non-accruing loans		12,~~403~~083			1,~~228~~403
Accruing loans 90 days or more past due:
One-to-four family residential		~~116~~252			--116
Commercial — real estate secured		--			--
Multi-family residential		--			--
Commercial business		--			--
Land		--			--
Construction		--			--
Home equity loans and lines of credit and other consumer		--			--
Total non-performing loans(1)		12,~~519~~335			1,~~228~~519
Real estate owned, net		~~418~~970			~~368~~418
Total non-performing assets	$	13,~~937~~305		$	1,~~596~~937
Troubled debt restructurings and modified loans to borrowers experiencing financial difficulty(2)		10			10
Total non-performing assets and troubled debt restructurings and modified loans to borrowers experiencing financial difficulty	$	13,~~947~~315		$	1,~~606~~947
Total non-performing loans as a percent of loans, net		0.3251	%		0.2532	%
Total non-performing assets as a percent of total assets		0.3054	%		0.2430	%
Total non-performing assets and troubled debt restructurings and modified loans to borrowers experiencing financial difficulty as a percentage of total assets		0.3154	%		0.2431	%

(1)	Non-performing loans consist of non-accruing loans plus accruing loans 90 days or more past due.

(2)	Troubled debt restructurings and modified loans to borrowers experiencing financial difficulty are not included in non-accruing loans and accruing loans 90 days or more past due.

Classified Assets. Federal regulations require that each insured savings institution classify its assets on a regular basis and the amount of its valuation allowance is subject to review by Federal bank regulators. There are three classifications for problem assets: “substandard”, “doubtful”, and “loss”. Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the insured institution will sustain some loss, if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values questionable, and there is a higher possibility of loss. An asset classified as loss is considered uncollectible and of such little value that continuance as an an asset of the institution is not warranted. Another category designated “special mention” also must be established and maintained for assets which do not currently expose an insured institution to a sufficient degree of risk to warrant classification as substandard, doubtful, or loss. Assets classified as substandard or doubtful require the institution to establish general allowances for loan losses. If an asset, or portion thereof, is classified as loss, the insured institution must either establish specific allowances for loan losses in the amount of 100% of the portion of the asset classified loss, or charge-off such amount. General loss allowances established to cover possible losses related to assets classified substandard or doubtful may be included in determining an institution’s regulatory capital, while specific valuation allowances for loan losses do not qualify as regulatory capital. Federal examiners may disagree with an insured institution’s classifications and amounts reserved. At June 30, ~~2024~~2025, we had $34.85 million in classified assets. ~~There~~At ~~were~~June ~~seven~~30, ~~residential~~2025 ~~mortgage~~the ~~loans totaling~~Company ~~$1.2~~had ~~million,~~eight ~~two~~one-to-four ~~commercial~~family ~~real~~residential ~~estate~~ loans, ~~totaling~~two ~~$434~~home equity loans,~~000,~~ ~~four commercial~~five commercial non-real -estate loans, ~~totaling~~two ~~$142~~commercial real-estate loans,~~000,~~ and one ~~land~~consumer loan ~~for $73,000~~ classified as ~~special mention~~ substandard. AtThere ~~June~~were ~~30,~~no ~~2024~~loans ~~the~~classified ~~Company~~as ~~had~~doubtful ~~six~~or ~~single~~loss ~~family~~at ~~residential~~June ~~loans~~30, ~~totaling $1~~2025.5 ~~million,~~There were four ~~home~~one-~~equity line~~to-~~of-credit~~four ~~loans totaling~~family ~~$282,000,~~residential ~~five~~mortgage loans, eleven commercial non-real- estate loans ~~totaling $146~~,~~000,~~ ~~and~~ one ~~auto~~home ~~loan~~equity ~~for $16~~loan,~~000~~ ~~classified~~and asone ~~substandard.~~consumer ~~There~~loan ~~were~~designated ~~no loans classified~~ as ~~doubtful~~special ormention ~~loss~~ at June 30, ~~2024~~2025.

Table of Contents

Allowance for Credit Losses. At June 30, ~~2024~~2025, our allowance for credit losses amounted to $4.65 million. The methodology for determining the allowance for credit losses under the new current expected credit loss ("CECL") model was implemented effective July 1, 2023 in accordance with ASU No. 2016-13 and subsequent ASUs issued to amend ASC Topic 326. The allowance methodology for prior periods is disclosed in our 2023 Annual Report on Form 10-K. The Company has elected to exclude accrued interest receivable from the measurement of its allowance for credit losses. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. The allowance for credit losses for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. Management estimates the allowance balance using relevant available information from internal and external sources relating to past events, current conditions and reasonable and supportable forecasts. Adjustments to historical loss information are made to incorporate our reasonable and supportable forecast of future losses at the portfolio segment level, as well as any necessary qualitative adjustments, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and industry loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis.

While management believes that it determines the size of the allowance based on the best information available at the time, the allowance will need to be adjusted as circumstances change and assumptions are updated. Future adjustments to the allowance could significantly affect net income.

The following table shows changes in our allowance for credit losses during the periods presented. We had $323,000 and $1.0 million ~~and $237,000~~ of loan charge-offs during fiscal ~~2024~~2025 and ~~2023~~2024, respectively. Bad debt recoveries amounted to $13359,000 and $9113,000 during fiscal ~~2024~~2025 and ~~2023~~2024, respectively.

	June 30,
	2024			2023
	2025			2024
	(Dollars in thousands)
Total loans outstanding at end of period	$	475,524		$	494,830
Total loans outstanding at end of period (1)	$	465,593		$	475,524
Average loans outstanding		499,237			442,469
Average loans outstanding (2)		460,356			499,237
Allowance for credit losses, beginning of period		54,~~173~~574			45,~~451~~173
Impact of ASU 2016-13		~~359~~-			-359
Provision for credit losses		40			868
Provision for (recovery of) credit losses		(126	)		40
Recoveries		13359			9113
Charge-offs		(~~1,011~~323	)		(~~237~~1,011	)
Allowance for credit losses, end of period	$	4,~~574~~484		$	54,~~173~~574
Allowance for credit losses as a percent of non-performing loans		~~300~~191.7299	%		~~417~~300.8572	%
Allowance for credit losses as a percent of loans outstanding		0.96	%		1.05	%
Allowance for credit losses as a percent of loans receivable		0.96	%		0.96	%

(1)	Does not include loans held for sale.

(2)	Includes loans held for sale.

Table of Contents

The following table shows how our allowance for credit losses is allocated by type of loan at each of the dates indicated.

	2024					2023
	June 30,
	2025					2024
	Amount of Allowance		Loan Category as a % of Total Loans			Amount of Allowance		Loan Category as a % of Total Loans
	(Dollars in thousands)
One-to-four family residential	$	2,~~346~~202		5149.2910	%	$	12,~~900~~346		3651.7229	%
Commercial – real estate secured		1,~~088~~202		2326.7981			1,~~673~~088		3223.3479
Multi-family residential		~~130~~113		2.8452			~~228~~130		42.4184
Land		~~175~~165		3.8368			~~274~~175		53.3083
Construction		~~103~~74		21.2565			~~254~~103		42.9125
Home Equity Loans and Lines of Credit		~~165~~182		34.6106			~~251~~165		43.8561
Commercial business		~~548~~538		1112.9800			~~588~~548		11.3798
Consumer		198		0.4118			519		0.1041
Total	$	4,~~574~~484		100.00	%	$	54,~~173~~574		100.00	%

Investment Securities

We have authority to invest in various types of securities, including mortgage-backed securities, U.S. Treasury obligations, securities of various federal agencies and of state and municipal governments, certificates of deposit at federally insured banks and savings institutions, certain bankers’ acceptances, and federal funds. Our investment strategy is established by the board of directors.

The following table sets forth certain information relating to our investment securities portfolio at the dates indicated.

June 30,

2024

2023

2025

2024

Amortized Cost

Fair Value

Amortized Cost

Fair Value

(In thousands)

Securities Held-to-Maturity:

Mortgage-backed securities

6660,~~017~~075

5349,~~230~~935

7166,~~568~~017

5853,~~447~~230

Municipals

1,~~285~~259

1,~~220~~204

1,~~311~~285

1,~~231~~220

Total Securities Held-to-Maturity

6761,~~302~~334

5451,~~450~~139

7267,~~879~~302

5954,~~678~~450

Securities Available-for-Sale:

Mortgage-backed securities

2736,~~982~~330

2433,~~671~~881

3227,~~063~~982

2824,~~634~~671

Municipals

365

~~366~~365

~~1,068~~365

~~1,076~~366

US Treasury Securities

~~2,000~~-

92,~~779~~000

92,~~841~~000

Total Securities Available for sale

30,347

27,037

42,910

39,551

Total Securities Available for sale…

36,695

34,246

30,347

27,037

Equity Securities

~~250~~

FNBB stock

~~1,364~~250

~~1,294~~250

FHLB stock

~~1,614~~400

1,~~544~~364

Total Investment Securities

99,263

83,101

117,333

100,773

650

1,614

Total Investment Securities

98,679

86,035

99,263

83,101

Table of Contents

The following table sets forth the amount of investment securities which contractually mature during each of the periods indicated and the weighted average yields for each range of maturities at at June 30, ~~2024~~2025. The amounts reflect the fair value of our securities at June 30, ~~2024~~2025.

	Amounts at June 30, 2024 which Mature in
	Amounts at June 30, 2025 which Mature in
	One Year or Less		Weighted Average Yield			Over One Year Through Five Years		Weighted Average Yield			Over Five Through Ten Years		Weighted Average Yield			Over Ten Years		Weighted Average Yield
	(Dollars in thousands)
Bonds and other debt securities:
Mortgage-backed securities	$	--		--	%	$	48		45.3473	%	$	28,~~643~~762		21.5283	%	$	75,~~254~~046		1.7784	%
Municipals		--567		--5.35			~~571~~-		~~5.35~~-			--1,002		--0.51			~~1,015~~-		~~5.00~~-
US Treasury securities		2,000		1.97			--		--			--		--			--		--
Equity securities(1):
FNBB stock		--		--			--		--			--		--			250		0.9201
FHLB stock		--		--			--		--			--		--			~~1,364~~400		50.2203
Total investment securities	$	~~2,000~~567		15.9735	%	$	~~575~~8		5.3573	%	$	29,~~643~~764		2.5234	%	$	7775,~~883~~696		1.87	%

(1)	None of the listed equity securities has a stated maturity.

Our investment in equity securities consists primarily of FHLB stock and shares of First National Bankers Bankshares, Inc. (“FNBB”). Management monitors its investment portfolio to determine whether any investment securities which have unrealized losses should be considered other than temporarily impaired.

Mortgage-backed securities represent a participation interest in a pool of one-to-four family or multi-family mortgages. The mortgage originators use intermediaries (generally U.S. Government agencies and government-sponsored enterprises) to pool and repackage the participation interests in the form of securities, with investors receiving the principal and interest payments on the mortgages. Such U.S. Government agencies and government-sponsored enterprises guarantee the payment of principal and interest to investors.

Mortgage-backed securities are typically issued with stated principal amounts, and the securities are backed by pools of mortgages that have loans with interest rates that are within a range and have varying maturities. The underlying pool of mortgages, i.e., fixed-rate or adjustable-rate, as well as prepayment risk, are passed on to the certificate holder. The life of a mortgage-backed pass-through security approximates the life of the underlying mortgages.

Our mortgage-backed securities consist of Ginnie Mae securities (“GNMA”), Freddie Mac securities (“FHLMC”), and Fannie Mae securities (“FNMA”). Ginnie Mae is a government agency within the Department of Housing and Urban Development, which is intended to help finance government-assisted housing programs. Ginnie Mae securities are backed by loans insured by the Federal Housing Administration or guaranteed by the Veterans Administration. The timely payment of principal and interest on Ginnie Mae securities is guaranteed by Ginnie Mae and backed by the full faith and credit of the U.S. Government. Freddie Mac is a private corporation chartered by the U.S. Government. Freddie Mac issues participation certificates backed principally by conventional mortgage loans. Freddie Mac guarantees the timely payment of interest and the ultimate return of principal on participation certificates. Fannie Mae is a private corporation chartered by the U.S. Congress with a mandate to establish a secondary market for mortgage loans. Fannie Mae guarantees the timely payment of principal and interest on Fannie Mae securities. Freddie Mac and Fannie Mae securities are not backed by the full faith and credit of the U.S. Government. In September 2008, the Federal Housing Finance Agency was appointed as conservator of Fannie Mae and Freddie Mac. The U.S. Department of the Treasury agreed to provide capital, as needed, to ensure that Fannie Mae and Freddie Mac continue to provide liquidity to the housing and mortgage markets.

Mortgage-backed securities generally yield less than the loans which underlie such securities because of their payment guarantees or credit enhancements, which offer nominal credit risk. In addition, mortgage-backed securities are more liquid than individual mortgage loans and may be used to collateralize our borrowings or other obligations.

Table of Contents

The following table sets forth the composition of our mortgage-backed securities portfolio at fair value at each of the dates indicated. The amounts reflect the fair value of our mortgage-backed securities at June 30, ~~2024~~2025 and ~~2023~~2024.

	June 30,
	2024		2023
	2025		2024
	(In thousands)
Fixed rate:
GNMA	$	25,~~813~~326	$	42,~~114~~813
FHLMC		2731,~~979~~257		3527,~~291~~979
FNMA		46,~~135~~538		4746,~~461~~135
Total fixed rate		7683,~~927~~121		8676,~~866~~927
Adjustable rate:
GNMA		~~971~~692		~~210~~971
FHLMC		3		53
FNMA		--		--
Total adjustable-rate		~~974~~695		~~215~~974
Total mortgage-backed securities	$	7783,~~901~~816	$	8777,~~081~~901

Information regarding the contractual maturities and weighted average yield of our mortgage-backed securities portfolio at June 30, ~~2024~~2025 is presented below. Due to repayments of the ~~underlying~~ underlying loans, the actual maturities of mortgage-backed securities generally are substantially less than the scheduled maturities. The amounts reflect the fair value of our mortgage-backed securities at June 30, ~~2024~~2025.

	Amounts at June 30, 2024 Which Mature in
	Amounts at June 30, 2025 Which Mature in
	One Year or Less		Weighted Average Yield			Over One through Five Years		Weighted Average Yield			Over Five Through Ten Years		Weighted Average Yield			Over Ten Years		Weighted Average Yield
	(In thousands)
Fixed rate:
GNMA	$	--		--	%	$	--2		--2.61	%	$	2-		~~0.01~~-	%	$	25,~~811~~324		0.0615	%
FHLMC		--		--			--3		--3.97			~~716~~1,428		0.7437			2729,~~263~~826		0.5567
FNMA		--		--			--		--			17,~~917~~327		1.7766			4439,~~218~~211		1.1401
Total fixed-rate		--		--	%		--5		--6.58	%		28,~~635~~755		2.5103	%		74,~~292~~361		1.7583	%
Adjustable rate:
GNMA	$	--		--	%	$	--		--	%	$	87		45.63	%	$	~~962~~685		34.68	%
FHLMC		--		--			3		34.9929			--		--			--		--
FNMA		--		--			1-		~~0.35~~-			--		--			--		--
Total adjustable rate		--		--	%		43		4.3429	%		8		45.63	%		~~962~~685		34.68	%
Total	$	--		--	%	$	48		45.3473	%	$	~~2,643~~8.762		2.5204	%	$	75,~~254~~046		1.7786	%

The following table sets forth the purchases, sales, and principal repayments of our mortgage-backed securities during the periods indicated.

	At or For the Year Ended June 30,
	2024			2023
	2025			2024
	(Dollars in thousands)
Mortgage-backed securities at beginning of period	$	~~103~~94,~~631~~000		$	~~108~~103,~~322~~631
Purchases		--12,695			~~6,278~~-
Repayments		(910,~~702~~348	)		(119,~~029~~702	)
Sales		--(157	)		--
Amortizations of premiums and discounts, net		71215			6071
Mortgage-backed securities at end of period	$	9496,~~000~~405		$	~~103~~94,~~631~~000
Weighted average yield at end of period		1.8085	%		1.8480	%

Table of Contents

Sources of Funds

General. Deposits are our primary source of funds for lending and other investment purposes. In addition to deposits, principal and interest payments on loans and investment securities are a source of funds. Loan repayments are a relatively stable source of funds, while deposit inflows and outflows are significantly influenced by general interest rates and money market conditions. Borrowings may also be used on a short-term basis to compensate for reductions in the availability of funds from other sources and on a longer-term basis for general business purposes.

Deposits. We attract deposits principally from residents of Louisiana and particularly from Caddo, Webster, and Bossier Parishes. Deposit account terms vary, with the principal differences being the minimum balance required, the time periods the funds must remain on deposit, and the interest rate. We utilize brokered certificates of deposit as a component of our strategy for lowering the overall cost of funds. The brokered certificates of deposit are callable by Home Federal Bank after twelve months. At June 30, ~~2024~~2025 and ~~2023~~2024, we had ~~zero~~no ~~and~~balances ~~$3.0 million, respectively,~~ in brokered ~~certificates of deposit~~deposits.

We establish interest rates paid, maturity terms, service fees, and withdrawal penalties on a periodic basis. Management determines the rates and terms based on rates paid by competitors, the need for funds or liquidity, growth goals, and federal regulations. We attempt to control the flow of deposits by pricing our accounts to remain generally competitive with other financial institutions in the market area.

The following table shows the distribution of, and certain other information relating to, our deposits by type of deposit, as of the dates indicated.

		June 30,
		2024					2023
		2025					2024
		Amount		Percent of Total Deposits			Amount		Percent of Total Deposits
		(Dollars in thousands)
Certificate accounts:
0.00% - 0.99%	~~0.00% - 0.99%~~	$	139,~~964~~207		21.4369	%	$	1913,~~248~~964		32.2243	%
1.00% - 1.99%	~~1.00% - 1.99%~~		~~1,323~~6		~~0.23~~-			111,~~630~~323		10.9523
2.00% - 2.99%	~~2.00% - 2.99%~~		~~698~~22,739		04.1216			~~14,647~~698		20.4512
3.00% - 3.99%	~~3.00% - 3.99%~~		284,~~137~~775		015.3752			502,~~365~~137		80.4337
4.00% - 4.99%	~~4.00% - 4.99%~~		~~146~~64,~~242~~248		2511.4876			93146,~~037~~242		1525.5848
5.00% - 5.99%	~~5.00% - 5.99%~~		506,~~528~~382		81.8117			150,~~456~~528		08.2481
Total certificate accounts	~~Total certificate accounts~~		~~214~~187,~~892~~357		3734.4430			~~190~~214,~~383~~892		3137.8744
Transaction accounts:
	Passbook savings		76,643		13.35			81,895		13.71
Savings accounts			95,627		17.50			76,643		13.35
Non-interest-bearing demand accounts	~~Non-interest-bearing demand accounts~~		~~130~~122,~~334~~416		22.7141			~~145~~130,~~553~~334		2422.3771
NOW accounts	~~NOW accounts~~		6667,~~613~~119		1112.6029			6566,~~335~~613		1011.9460
Money market	~~Money market~~		8573,~~525~~771		1413.9050			~~114~~85,~~195~~525		1914.1190
Total transaction accounts	~~Total transaction accounts~~		~~359~~358,~~115~~933		6265.5670			~~406~~359,~~978~~115		6862.1356
Total deposits	~~Total deposits~~	$	~~574~~546,~~007~~290		100.00	%	$	~~597~~574,~~361~~007		100.00	%

Table of Contents

The following table shows the average balance of each type of deposit and the average rate paid on each type of deposit for the periods indicated.

	Year Ended June 30,
	2024							2023
	2025							2024
	Average Balance		Interest Expense		Average Rate Paid			Average Balance		Interest Expense		Average Rate Paid
					Average							Average
	Average		Interest		Rate			Average		Interest		Rate
	Balance		Expense		Paid			Balance		Expense		Paid
	(Dollars in thousands)
Passbook savings	$	74,135	$	479		0.65	%	$	105,850	$	312		0.29	%
Savings accounts	$	90,458	$	1,544		1.71	%	$	74,135	$	479		0.65	%
NOW accounts		6770,~~224~~375		~~355~~821		01.5317	%		6367,~~074~~224		~~164~~355		0.2653	%
Money market		9376,~~178~~494		21,~~296~~656		2.4616	%		~~106~~93,~~146~~178		12,~~078~~296		12.0246	%
Certificates of deposit		~~213~~189,~~661~~204		87,~~868~~420		43.1592	%		~~126~~213,~~156~~661		28,~~952~~868		24.3415	%
Total interest-bearing deposits		~~448~~426,~~198~~531		11,~~998~~441		2.68	%		~~401~~448,~~226~~198		411,~~506~~998		12.1268	%
Non-Interest bearing demand accounts	$	~~139~~128,~~330~~336	$	--	-	--	%	$	~~168~~139,~~169~~330	$	--		--	%
Total deposits	$	~~587~~554,~~528~~867	$	11,~~998~~441		2.68	%	$	~~569~~587,~~395~~528	$	411,~~506~~998		12.1268	%

The following table shows our deposit flows during the periods indicated.

	Year Ended June 30,
	2024			2023
	2025			2024
	(In thousands)
Net deposits (withdrawals)	$	(3538,~~365~~817	)	$	60(35,~~288~~365	)
Interest credited		1211,~~011~~100			512,~~082~~011
Total (decrease) increase in deposits	$	(2327,~~354~~717	)	$	65(23,~~370~~354	)

The following table presents, by various interest rate categories and maturities, the amount of certificates of deposit at June 30, ~~2024~~2025.

Balance at June 30, 2024

Balance at June 30, 2025

Maturing in the 12 Months Ending June 30,

Certificates of Deposit

~~2025~~2026

~~2026~~2027

~~2027~~2028

Thereafter

Total

(In thousands)

0.00% - 0.99%

~~0.00% - 0.99%~~

83,~~886~~583

13,~~890~~174

~~1,564~~594

1,~~624~~856

139,~~964~~207

1.00% - 1.99%

~~1.00% - 1.99%~~

~~1,316~~-

--6

~~1,323~~6

2.00% - 2.99%

~~2.00% - 2.99%~~

~~697~~20,871

--1,867

~~698~~22,739

3.00% - 3.99%

~~3.00% - 3.99%~~

278,~~119~~691

185,834

--250

284,~~137~~775

4.00% - 4.99%

~~4.00% - 4.99%~~

~~128~~63,~~432~~101

~~17,283~~741

~~137~~194

~~390~~212

~~146~~64,~~242~~248

5.00% - 5.99%

~~5.00% - 5.99%~~

446,~~167~~382

~~6,361~~-

506,~~528~~382

Total certificate accounts

~~185~~172,~~617~~628

2511,~~552~~622

1,~~708~~038

2,~~015~~069

~~214~~187,~~892~~357

The following table shows the maturities of our certificates of deposit in excess of the FDIC insurance limit (generally, $250,000) at June 30, ~~2024~~2025 by time remaining to maturity.

	Amount		Weighted Average Rate
			Weighted
	Amount		Average Rate
	(Dollars in thousands)
September 30, 2024	$	20,936		4.28	%
September 30, 2025	$	10,311		3.21	%
December 31, 2024		15,315		4.80
December 31, 2025		24,502		3.87
March 31, 2025		8,498		4.62
March 31, 2026		8,339		3.70
June 30, 2025		8,058		4.32
June 30, 2026		4,344		2.80
After June 30, 2025		11,401		3.76
After June 30, 2026		2,873		2.27
Total certificates of deposit with balances of $250,000 or more	$	64,208		4.36	%
Total certificates of deposit with balances in excess of $250,000	$	50,369		3.53	%

Table of Contents

Borrowings. We may obtain advances from the Federal Home Loan Bank of Dallas upon the security of the common stock we own in that bank and certain of our residential mortgage loans and mortgage-backed and other investment securities, provided certain standards related to creditworthiness have been met. These advances are made pursuant to several credit programs, each of which has its own interest rate and range of maturities. Federal Home Loan Bank advances are generally available to meet seasonal and other withdrawals of deposit accounts and to permit increased lending.

As of June 30, ~~2024~~2025, we were permitted to borrow up to an aggregate total of $~~186~~56.4 million from the Federal Home Loan Bank of Dallas. We had no Federal Home Loan Bank advances outstanding at June 30, ~~2024~~2025 or June 30, ~~2023~~2024. Additionally, at June 30, ~~2024~~2025, Home Federal Bank was a party to a Master Purchase Agreement with First National Bankers Bank whereby Home Federal Bank may purchase Federal Funds from First National Bankers Bank in an amount not to exceed $20.4 million. There were no amounts purchased under this agreement as of June 30, ~~2024~~2025. At June 30, ~~2024~~2025, Home Federal Bancorp had ~~available~~a an $114.0 million ~~line~~outstanding ofloan ~~credit agreement~~ with First National Bankers Bank, ~~maturing~~which matures on ~~August~~February 295, ~~2024~~2034. The ~~line~~loan is secured by Home Federal Bank’s common stock and bears interest at the Prime Rate, which is subject to change when adjustments are made to Wall Street Journal Prime. ~~At June 30, 2024, the line had an outstanding balance of $7.0 million on the line of credit.~~

The following table shows certain information regarding our borrowings at or for the dates indicated:

	At or For the Year Ended June 30,
	2024			2023
	2025			2024
	(Dollars in thousands)
FHLB advances:
Average balance outstanding	$	~~3,119~~14		$	13,~~919~~119
Maximum amount outstanding at any month-end during the period		~~14,100~~-			1014,~~000~~100
Balance outstanding at end of period		--			--
Average interest rate during the period		54.7765	%		5.2077	%
Weighted average interest rate at end of period		~~0.00~~-	%		~~0.00~~-	%

At June 30, ~~2024~~2025, we had no outstanding advances from the Federal Home Bank of Dallas.

Subsidiaries

At June 30, ~~2024~~2025, the Company had one subsidiary, Home Federal Bank. The Bank’s only subsidiary at such date was Metro Financial Services, Inc., which previously engaged in the sale of annuity contracts and does not currently engage in a meaningful amount of business.

Employees

Home Federal Bank had 78 67 full-time employees and ~~three~~ 9 part-time employees at June 30, ~~2024~~2025. None of these employees are covered by a collective bargaining agreement, and we believe that we enjoy good relations with our personnel.

Table of Contents

REGULATION

General

Home Federal Bank, as a federally chartered savings bank, is subject to federal regulation and oversight by the Office of the Comptroller of the Currency as its primary federal regulator extending to all aspects of its operations. Home Federal Bank also is subject to regulation by the Federal Deposit Insurance Corporation, which insures the deposits of Home Federal Bank to the maximum extent permitted by law, and requirements established by the Federal Reserve Board. Federally chartered savings institutions are required to file periodic reports with the Office of the Comptroller of the Currency and are subject to periodic examinations by the Office of the Comptroller of the Currency. The investment and lending authority of savings institutions is prescribed by federal laws and regulations, and such institutions are prohibited from engaging in any activities not permitted by such laws and regulations. Such regulation and supervision primarily are intended for the protection of depositors and not for the purpose of protecting shareholders.

Federal law provides the federal banking regulators, including the Office of the Comptroller of the Currency with substantial enforcement powers. The Office of the Comptroller of the Currency’s enforcement authority over all savings institutions includes, among other things, the ability to assess civil money penalties, to issue cease and desist or removal orders, and to initiate injunctive actions. In general, these enforcement actions may be initiated for violations of laws and regulations and unsafe or unsound practices. Other actions or inactions may provide the basis for enforcement action, including misleading or untimely reports filed with the Office of the Comptroller of the Currency.

Regulation of Home Federal Bancorp

Home Federal Bancorp, a Louisiana corporation, is a registered savings and loan holding company within the meaning of Section 10 of the Home Owners’ Loan Act and is subject to regulation, examination and supervision by the Federal Reserve Board, as well as certain reporting requirements. ~~While~~In ~~new~~addition, ~~capital~~the ~~requirements~~Federal ~~began~~Reserve toBoard ~~phase~~has inenforcement ~~for~~authority ~~savings~~over ~~and~~Home ~~loan~~Federal ~~holding~~Bancorp ~~companies~~and onits ~~January~~non-savings 1,institution ~~2015,~~subsidiaries ~~Home~~which also permits the Federal ~~Bancorp~~Reserve isBoard ~~currently exempt~~to ~~from~~restrict ~~those~~or ~~requirements~~prohibit activities that are determined to present a serious risk to Home Federal Bank.

Holding Company Activities. Home Federal Bancorp is a unitary savings and loan holding company under the Home Owners’ Loan Act, as amended. Federal law generally prohibits a savings and loan holding company, without prior approval of the Federal Reserve Board, from acquiring the ownership or control of any other savings institution or savings and loan holding company, or all, or substantially all, of the assets, or more than 5% of the voting shares of the savings institution or savings and loan holding company. These provisions also prohibit, among other things, any director or officer of a savings and loan holding company, or any individual who owns or controls more than 25% of the voting shares of such holding company, from acquiring control of any savings institution not a subsidiary of such savings and loan holding company, unless the acquisition is approved by the Federal Reserve Board.

Home Federal Bancorp is a unitary savings and loan holding company under the Home Owners’ Loan Act, as amended. Federal law generally prohibits a savings and loan holding company, without prior approval of the Federal Reserve Board, from acquiring the ownership or control of any other savings institution or savings and loan holding company, or all, or substantially all, of the assets, or more than 5% of the voting shares of the savings institution or savings and loan holding company. These provisions also prohibit, among other things, any director or officer of a savings and loan holding company, or any individual who owns or controls more than 25% of the voting shares of such holding company, from acquiring control of any savings institution not a subsidiary of such savings and loan holding company, unless the acquisition is approved by the Federal Reserve Board.

The Federal Reserve Board may not approve any acquisition that would result in a multiple savings and loan holding company controlling a savings institutions in more than one state, subject to two exceptions: (i) the approval of interstate supervisory acquisitions by savings and loan holding companies and (ii) the acquisition of a savings institution in another state, if the laws of the state of the target savings institution specifically permit such acquisitions. The states vary in the extent to which they permit interstate savings and loan holding company acquisitions.

In evaluating applications by savings and loan holding companies to acquire savings institutions, the Federal Reserve Board must consider the financial and managerial resources and future prospects of the company ~~and~~ and institution involved, the effect of the acquisition on the risk to the insurance funds, the convenience and needs of the community, competitive factors, and other factors. The Federal Reserve Board has long set forth in its regulations its ~~"source~~ “source of strength"” policy, which requires bank holding companies to act as a source of strength to their subsidiary depository institutions by providing capital, liquidity and other support in times of financial stress. This policy now also applies to savings and loan holding companies.

The Federal Reserve Board has promulgated consolidated capital requirements for depository institution holding companies that are no less stringent, both quantitatively and in terms of components of capital, than those applicable to their subsidiary depository institutions, including a community bank leverage ratio alternative. However, holding companies with less than $3.0 billion of consolidated assets, such as Home Federal Bancorp, are generally not subject to consolidated capital requirements unless otherwise advised by the FRB.

The Federal Reserve Board has issued a policy statement regarding the payment of dividends and the repurchase of shares of common stock by bank holding companies that is applicable to savings and loan holding companies as well. In general, the policy provides that dividends should be paid only out of current earnings and only if the prospective rate of earnings retention by the holding company appears consistent with the organization’s capital needs, asset quality and overall financial condition. Regulatory guidance provides for prior regulatory consultation with respect to capital distributions in certain circumstances such as where the company’s net income for the past four quarters, net of dividends previously paid over that period, is insufficient to fully fund the dividend or the company’s overall rate of earnings retention is inconsistent with the company’s capital needs and overall financial condition. The ability of a holding company to pay dividends may be restricted if a subsidiary bank becomes undercapitalized. The policy statement also provides for regulatory consultation prior to a holding company redeeming or repurchasing regulatory capital instruments when the holding company is experiencing financial weaknesses or redeeming or repurchasing common stock or perpetual preferred stock that would result in a net reduction as of the end of a quarter in the amount of such equity instruments outstanding compared with the beginning of the quarter in which the redemption or repurchase occurred. These regulatory policies could affect the ability of Home Federal Bancorp to pay dividends, repurchase shares of common stock or otherwise engage in capital distributions.

Table of Contents

The Federal Reserve Board has issued a policy statement regarding the payment of dividends and the repurchase of shares of common stock by bank holding companies that is applicable to savings and loan holding companies as well. In general, the policy provides that dividends should be paid only out of current earnings and only if the prospective rate of earnings retention by the holding company appears consistent with the organization’s capital needs, asset quality and overall financial condition. Regulatory guidance provides for prior regulatory consultation with respect to capital distributions in certain circumstances such as where the company’s net income for the past four quarters, net of dividends’ previously paid over that period, is insufficient to fully fund the dividend or the company’s overall rate of earnings retention is inconsistent with the company’s capital needs and overall financial condition. The ability of a holding company to pay dividends may be restricted if a subsidiary bank becomes undercapitalized. The policy statement also provides for regulatory consultation prior to a holding company redeeming or repurchasing regulatory capital instruments when the holding company is experiencing financial weaknesses or redeeming or repurchasing common stock or perpetual preferred stock that would result in a net reduction as of the end of a quarter in the amount of such equity instruments outstanding compared with the beginning of the quarter in which the redemption or repurchase occurred. These regulatory policies could affect the ability of Home Federal Bancorp to pay dividends, repurchase shares of common stock or otherwise engage in capital distributions.

All savings institution subsidiaries of savings and loan holding companies like Home Federal Bank are required to meet a qualified thrift lender, or QTL, test to avoid certain restrictions on their operations. If the subsidiary savings institution fails to meet the QTL, as discussed below, then the savings and loan holding company must register with the Federal Reserve Board as a bank holding company, unless the savings institution requalifies as a QTL within one year thereafter.

Federal Securities Laws. Home Federal Bancorp registered its common stock with the Securities and Exchange Commission under Section 12(b) of the Securities Exchange Act of 1934. Home Federal Bancorp is subject to the proxy and tender offer rules, insider trading reporting requirements and restrictions, and certain other requirements under the Securities Exchange Act of 1934.

~~Home~~Volcker ~~Federal~~Rule ~~Bancorp~~Regulations. ~~registered~~Regulations ~~its~~have ~~common~~been ~~stock~~adopted ~~with~~by the ~~Securities~~federal ~~and~~banking ~~Exchange~~agencies ~~Commission~~to ~~under~~implement ~~Section~~the ~~12(b)~~provisions of the ~~Securities~~Dodd-Frank ~~Exchange~~ Act, ofcommonly referred ~~1934~~to as the Volcker Rule. ~~Home~~The ~~Federal~~regulations ~~Bancorp~~contain isprohibitions ~~subject~~and torestrictions on the ~~proxy~~ ability of financial institutions holding companies and ~~tender~~their ~~offer~~affiliates ~~rules,~~to ~~insider~~engage ~~trading~~in ~~reporting~~proprietary ~~requirements~~trading and ~~restrictions~~to hold certain interests in, ~~and~~or to have certain ~~other~~relationships ~~requirements~~with, ~~under~~various types of investment funds, including hedge funds and private equity funds. However, federal regulations exclude from the ~~Securities~~Volcker ~~Exchange~~Rule ~~Act~~restrictions community banks with $10 billion or less in total consolidated assets and total trading assets and liabilities of ~~1934~~five percent or less of total consolidated assets. Home Federal Bancorp qualifies for the exclusion from the Volcker Rule restrictions.

Volcker Rule Regulations

Regulations have been adopted by the federal banking agencies to implement the provisions of the Dodd-Frank Act, commonly referred to as the Volcker Rule. The regulations contain prohibitions and restrictions on the ability of financial institutions holding companies and their affiliates to engage in proprietary trading and to hold certain interests in, or to have certain relationships with, various types of investment funds, including hedge funds and private equity funds. However, federal regulations exclude from the Volcker Rule restrictions community banks with $10 billion or less in total consolidated assets and total trading assets and liabilities of five percent or less of total consolidated assets. Home Federal Bancorp qualifies for the exclusion from the Volcker Rule restrictions.

Regulation of Home Federal Bank

General. Home Federal Bank is subject to the regulation of the Office of the Comptroller of the Currency, as its primary federal regulator, the Federal Deposit Insurance Corporation, as the insurer of its deposit accounts, and, to a limited extent, the Federal Reserve Board.

Insurance of Accounts. The deposits of Home Federal Bank isare ~~subject~~insured up to $250,000 per separately insured deposit ownership right or category by the ~~regulation~~Deposit Insurance Fund of the ~~Office~~Federal ofDeposit Insurance Corporation and are backed by the ~~Comptroller~~full faith and credit of the ~~Currency~~U.S. Government. As insurer, asthe ~~its~~Federal ~~primary~~Deposit ~~federal~~Insurance ~~regulator,~~Corporation is authorized to conduct examinations of and to require reporting by insured institutions. It also may prohibit any insured institution from engaging in any activity determined by regulation or order to pose a serious threat to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation,. asThe Federal Deposit Insurance Corporation also has the ~~insurer~~authority to initiate enforcement actions against savings institutions after giving the Office of ~~its~~the Comptroller of the Currency an opportunity to take such action. The Federal Deposit Insurance Corporation assesses deposit ~~accounts~~insurance premiums on each insured institution. Under the Federal Deposit Insurance Corporation’s risk-based assessment system, institutions deemed less risky pay lower assessments. Assessments for institutions of less than $10 billion of assets are now based on financial measures and, tosupervisory aratings ~~limited~~derived ~~extent,~~from statistical modeling estimating the ~~Federal~~probability ~~Reserve~~of ~~Board~~an institution’s failure within three years.

The Dodd-Frank Act required the Federal Deposit Insurance Corporation to revise its procedures to base assessments upon each insured institution’s total assets less tangible equity instead of deposits. The current assessment range (inclusive of possible adjustments) for insured institutions of less than $10 billion of total assets is 2.5 basis points to 32 basis points. The Federal Deposit Insurance Corporation has authority to further increase insurance assessments; and therefore management cannot predict what insurance assessment rates will be in the future. A significant increase in insurance premiums may have an adverse effect on the operating expenses and results of operations of Home Federal Bank

The Federal Deposit Insurance Corporation may terminate the deposit insurance of any insured depository institution, including Home Federal Bank, if it determines after a hearing that the institution has engaged or is engaging in unsafe or unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, order, or any condition imposed by an agreement with the Federal Deposit Insurance Corporation. It also may suspend deposit insurance temporarily during the hearing process for the permanent termination of insurance, if the institution has no tangible capital. If insurance of accounts is terminated, the accounts at the institution at the time of the termination, less subsequent withdrawals, shall continue to be insured for a period of six months to two years, as determined by the Federal Deposit Insurance Corporation. Management is aware of no existing circumstances which would result in termination of Home Federal Bank’s deposit insurance.

Table of Contents

~~Insurance~~Regulatory Capital Regulations. Federally insured savings institutions are required by the OCC to meet several minimum levels of ~~Accounts~~capital including: a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, a total capital to risk-based assets ratio of 8%, and a Tier 1 capital to total assets leverage ratio of 4%. Federal savings institutions must also meet a tangible capital ratio of 1.5%.

The deposits of Home Federal Bank are insured up to $250,000 per separately insured deposit ownership right or category by the Deposit Insurance Fund of the Federal Deposit Insurance Corporation and are backed by the full faith and credit of the U.S. Government. As insurer, the Federal Deposit Insurance Corporation is authorized to conduct examinations of and to require reporting by insured institutions. It also may prohibit any insured institution from engaging in any activity determined by regulation or order to pose a serious threat to the Federal Deposit Insurance Corporation. The Federal Deposit Insurance Corporation also has the authority to initiate enforcement actions against savings institutions after giving the Office of the Comptroller of the Currency an opportunity to take such action. The Federal Deposit Insurance Corporation assesses deposit insurance premiums on each insured institution. Under the Federal Deposit Insurance Corporation's risk-based assessment system, institutions deemed less risky pay lower assessments. Assessments for institutions of less than $10 billion of assets are now based on financial measures and supervisory ratings derived from statistical modeling estimating the probability of an institution's failure within three years.

The Dodd-Frank Act required the Federal Deposit Insurance Corporation to revise its procedures to base assessments upon each insured institution's total assets less tangible equity instead of deposits. The current assessment range (inclusive of possible adjustments) for insured institutions of less than $10 billion of total assets is 2.5 basis points to 32 basis points. The Federal Deposit Insurance Corporation has authority to further increase insurance assessments; and therefore management cannot predict what insurance assessment rates will be in the future. A significant increase in insurance premiums may have an adverse effect on the operating expenses and results of operations of Home Federal Bank

Regulatory Capital Regulations

Federal regulations require depository institutions to meet several minimum capital standards: a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, a total capital to risk-based assets ratio of 8%, and a Tier 1 capital to total assets leverage ratio of 4%. Federal savings institution’s must also meet a tangible capital ratio of 1.5%.

For purposes of the regulatory capital requirements, a higher risk weight (150%) is assigned to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. Unrealized gains and losses on certain “available-for-sale” securities holdings are required to be included for purposes of calculating regulatory capital unless a one-time opt-out is exercised. Additional constraints are also imposed on the inclusion in regulatory capital of certain mortgage-servicing assets, deferred tax assets and minority interests. Calculation of all types of regulatory capital is subject to deductions and adjustments specified in the regulations. In assessing an institution’s capital adequacy, the Office of the Comptroller of the Currency takes into consideration, not only these numeric factors, but qualitative factors as well, and has the authority to establish higher capital requirements for individual institutions when deemed necessary.

In addition to establishing the minimum regulatory capital requirements, the regulations limit a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of a minimum of 2.5% of common equity Tier 1 capital to risk-weighted assets in addition to the amount necessary to meet its minimum risk-based capital requirements.

Legislation enacted in May 2018 required the federal banking agencies, including the Office of the Comptroller of the Currency, to establish for qualifying institutions with assets of less than $10 billion a “community bank leverage ratio” that ranges between 8% to 10% of consolidated assets. Institutions with capital complying with the ratio and otherwise meeting the specified requirements (including off-balance sheet exposures of 25% or less of total assets and trading assets and liabilities of 5% or less of total assets) and electing the alternative framework are considered to comply with the applicable regulatory capital requirements, including the risk-based requirements. Such institutions are also considered “well-capitalized” for prompt corrective action purposes.

The community bank leverage ratio was established at 9% Tier 1 capital to total average assets, effective January 1, 2020. Pursuant to federal legislation enacted in 2020, the community bank leverage ratio was temporarily lowered to 8% for 2020. Another rule was issued to increase the ratio to 8.5% for calendar year 2021 and to 9% thereafter. A qualifying bank may opt in and out of the community bank leverage ratio framework on its quarterly call report. A bank that ceases to meet any qualifying criteria is provided with a two-quarter grace period to comply with the community bank leverage ratio requirements or the general capital regulations by the federal regulators. As of June 30, 2025, Home Federal Bank has not opted into the alternative framework.

At June 30, 2025, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.59%, 13.59%, 14.67%, 9.40%, and 9.40%, respectively.

Any savings institution that fails any of the capital requirements is subject to possible enforcement actions by the Office of the Comptroller of the Currency. Such actions could include a capital directive, a cease and desist order, civil money penalties, establishment of restrictions on the institution’s operations, termination of federal deposit insurance, and the appointment of a conservator or receiver. The Office of the Comptroller of the Currency’s capital regulation provides that such actions, through enforcement proceedings or otherwise, could require one or more of a variety of corrective actions.

Table of Contents

~~Legislation~~Prompt ~~enacted~~Corrective inAction. ~~May~~The ~~2018~~following ~~required~~table ~~the~~shows ~~federal banking agencies, including~~ the ~~Office~~amount of the Comptroller of the Currency, to establish for qualifying institutions with assets of less than $10 billion a “community bank leverage ratio” that ranges between 8% to 10% of consolidated assets. Institutions with capital ~~complying~~associated with the ~~ratio~~different ~~and~~capital ~~otherwise~~categories ~~meeting~~set ~~the~~forth ~~specified requirements (including off-balance~~in ~~sheet exposures of 25% or less of total assets and trading assets and liabilities of 5% or less of total assets) and electing~~ the alternative framework are considered to comply with the applicable regulatory capital requirements, including the risk-based requirements. Such institutions are also considered "well-capitalized" for prompt corrective action ~~purposes~~regulations.

The community bank leverage ratio was established at 9% Tier 1 capital to total average assets, effective January 1, 2020. Pursuant to federal legislation enacted in 2020, the community bank leverage ratio was temporarily lowered to 8% for 2020. Another rule was issued to increase the ratio to 8.5% for calendar year 2021 and to 9% thereafter. A qualifying bank may opt in and out of the community bank leverage ratio framework on its quarterly call report. A bank that ceases to meet any qualifying criteria is provided with a two-quarter grace period to comply with the community bank leverage ratio requirements or the general capital regulations by the federal regulators. As of June 30, 2024, Home Federal Bank has not opted into the alternative framework.

Capital Category	Total Risk-Based Capital	Tier 1 Risk-Based Capital	Common Equity Tier 1 Capital	Tier 1 Leverage Capital
Well capitalized	10% or more	8% or more	6.5% or more	5% or more
Adequately capitalized	8% or more	6% or more	4.5% or more	4% or more
Undercapitalized	Less than 8%	Less than 6%	Less than 4.5%	Less than 4%
Significantly undercapitalized	Less than 6%	Less than 4%	Less than 3%	Less than 3%

Home Federal Bank is subject to capital requirements adopted by the Office of the Comptroller of the Currency. At June 30, 2024, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.29%, 13.29%, 14.35%, 8.99%, and 8.99%, respectively.

Prompt Corrective Action.

The following table shows the amount of capital associated with the different capital categories set forth in the prompt corrective action regulations.

Capital Category	Total Risk- Based Capital	Tier 1 Risk- Based Capital	Common Equity Tier 1 Capital	Tier 1 Leverage Capital
Well capitalized	10% or more	8% or more	6.5% or more	5% or more
Adequately capitalized	8% or more	6% or more	4.5% or more	4% or more
Undercapitalized	Less than 8%	Less than 6%	Less than 4.5%	Less than 4%
Significantly undercapitalized	Less than 6%	Less than 4%	Less than 3%	Less than 3%

In addition, an institution is “critically undercapitalized” if it has a ratio of tangible equity to total assets that is equal to or less than 2.0%. Under specified circumstances, a federal banking agency may reclassify a well-capitalized institution as adequately capitalized and may require an adequately capitalized institution or an undercapitalized institution to comply with supervisory actions as if it were in the next lower category (except that the Office of the Comptroller of the Currency may not reclassify a significantly undercapitalized institution as critically undercapitalized).

An institution, generally, must file a written capital restoration plan which meets specified requirements within 45 days of the date that the institution receives notice or is deemed to have notice that it is undercapitalized, significantly undercapitalized, or critically undercapitalized. A federal banking agency must provide the institution with written notice of approval or disapproval within 60 days after receiving a capital restoration plan, subject to extensions by the agency. An institution which is required to submit a capital restoration plan must concurrently submit a performance guaranty by each company that controls the institution. In addition, undercapitalized institutions are subject to various regulatory restrictions, and the appropriate federal banking agency also may take any number of discretionary supervisory actions.

At June 30, ~~2024~~2025, Home Federal Bank was deemed a well-capitalized institution for purposes of the prompt corrective action regulations and as such is not subject to the above mentioned restrictions.

Capital Distributions. There are various restrictions on a bank’s ability to make capital distributions, including cash dividends, payments to repurchase or otherwise acquire its shares and other distributions charged against capital. A savings institution that is the subsidiary of a savings and loan holding company, such as Home Federal Bank, must file a notice with the FRB at least 30 days before making a capital distribution and receive the FRB’s nonobjection. Home Federal Bank must also file an application or notice for prior approval with the Office of the Comptroller of the Currency if the total amount of its capital distributions (including each proposed distribution), for the applicable calendar year would exceed Home Federal Bank’s net income for that year plus its retained net income for the previous two years, if Home Federal Bank is not an “eligible savings association” as defined in Office of the Comptroller of the Currency regulations or the capital distributions would violate a prohibition contained in any statute, regulation or agreement.

Home Federal Bank may be prohibited from making capital distributions and its application or notice disapproved if (i) Home Federal Bank would be undercapitalized following the distribution; (ii) the proposed capital distribution raises safety and soundness concerns; or (iii) the capital distribution would violate a prohibition contained in any statute, regulation or agreement.

Qualified Thrift Lender Test. Like all savings institutions, federal regulations require that Home Federal Bank comply with a Qualified Thrift Lender test to avoid certain restrictions on its operations. Under this test, Home Federal Bank is required to maintain at least 65% of its “portfolio assets” in certain “qualified thrift investments” on a monthly basis in at least nine months of the most recent twelve-month period. “Portfolio assets” means, in general, an institution’s total assets less the sum of (a) specified liquid assets up to 20% of total assets, (b) goodwill and other intangible assets and (c) the value of property used to conduct the institution’s business. “Qualified thrift investments” include various types of loans made for residential and housing purposes, investments related to such purposes, including certain mortgage-backed and related securities and consumer loans. If Home Federal Bank fails the QTL test, it must operate under certain restrictions on its activities and may be required to convert to a national bank. At June 30, 2025, Home Federal Bank believes it meets the QTL test.

Table of Contents

~~Capital~~Community ~~Distributions~~Reinvestment Act. Home Federal Bank is subject to the provisions of the Community Reinvestment Act of 1977 (“CRA”), which require the appropriate federal bank regulatory agency to assess a bank’s performance under the CRA in meeting the credit needs of the community serviced by Home Federal Bank, including low and moderate income neighborhoods. The regulatory agency’s assessment of Home Federal Bank’s record is made available to the public. Further, a bank’s CRA performance must be considered in connection with a bank’s application to, among other things, establish a new branch office that will accept deposits, relocate an existing office or merge or consolidate with, or acquire the assets or assume the liabilities of, a federally regulated financial institution. An unsatisfactory rating may be the basis for denial of certain applications. Home Federal Bank received a “satisfactory” rating during its most recent CRA examination.

~~There~~On ~~are~~October ~~various restrictions on a bank's ability to make capital distributions~~24, ~~including cash dividends~~2023, ~~payments~~the toOffice ~~repurchase~~of orthe ~~otherwise~~Comptroller ~~acquire~~of ~~its~~the ~~shares~~Currency and the other ~~distributions~~ ~~charged~~federal ~~against~~banking ~~capital.~~agencies Aissued ~~savings~~a ~~institution~~final ~~that~~rule isto ~~the~~strengthen ~~subsidiary~~and ofmodernize athe ~~savings~~CRA ~~and~~regulations. ~~loan~~On ~~holding~~July ~~company~~16, ~~such as Home Federal Bank~~2025, ~~must~~the banking ~~file~~regulators aincluding ~~notice with~~ the ~~FRB~~OCC atissued ~~least 30 days before making~~ a ~~capital~~joint ~~distribution and receive the FRB's nonobjection. Home Federal Bank must also file an application or~~ notice ~~for prior approval with the Office~~ of ~~the~~proposed ~~Comptroller~~rulemaking ofto ~~the~~rescind ~~Currency if~~ the ~~total~~2023 ~~amount~~CRA offinal ~~its~~rule ~~capital~~and ~~distributions~~replace ~~(including~~it ~~each~~with ~~proposed distribution), for~~ the ~~applicable~~1995/2021 ~~calendar~~regulation. The ~~year~~OCC ~~would~~continues ~~exceed~~to ~~Home~~assess ~~Federal~~a ~~Bank'~~bank’s ~~net~~CRA ~~income~~performance ~~for~~under ~~that year plus its retained net income for~~ the ~~previous~~OCC’s ~~two~~1995/2021 CRA ~~years,~~regulation ifand ~~Home Federal Bank~~ is not anapplying ~~"eligible~~any ~~savings~~provisions ~~association" as defined in Office~~ of the ~~Comptroller~~2023 ofFinal ~~the Currency regulations or the capital distributions would violate a prohibition contained in any statute, regulation or agreement~~Rule.

Limitations on Transactions with Affiliates. Home Federal Bank’s ~~may~~authority beto ~~prohibited~~engage ~~from~~in ~~making~~transactions ~~capital~~with ~~distributions~~its “affiliates” is limited by federal regulations and ~~its~~by ~~application~~Sections or23A ~~notice~~and ~~disapproved~~23B ifof ~~(i)~~the Federal Reserve Act. In general, these transactions must be on terms which are as favorable to Home Federal Bank ~~would~~as ~~be undercapitalized~~comparable ~~following~~transactions ~~the~~with ~~distribution; (ii)~~non-affiliates. ~~the~~Additionally, ~~proposed~~certain types ~~capital~~of ~~distribution~~these ~~raises~~transactions ~~safety~~are ~~and~~restricted ~~soundness~~to ~~concerns;~~an ~~or (iii)~~aggregate ~~the~~percentage of Home Federal Bank’s capital. Collateral ~~distribution~~in ~~would~~specified ~~violate~~amounts must usually be provided by affiliates to receive loans from Home Federal Bank. In addition, Office of Comptroller of the Currency regulations prohibit a ~~prohibition~~savings ~~contained~~bank from lending to any affiliate that is engaged in activities that are not permissible for bank holding companies and from purchasing the securities of any ~~statute,~~affiliate ~~regulation~~other orthan ~~agreement~~a subsidiary.

~~Qualified~~Home ~~Thrift~~Federal ~~Lender~~Bank’s ~~Test~~authority to extend credit to its directors, executive officers, and 10% shareholders (“insiders”), as well as to entities controlled by such persons, is currently governed by the requirements of Sections 22(g) and 22(h) of the Federal Reserve Act and Regulation O of the Federal Reserve Board. Among other things, these provisions require that all loans or extensions of credit to insiders (a) be made on terms that are substantially the same as and follow credit underwriting procedures that are not less stringent than those prevailing for comparable transactions with unaffiliated persons and that do not involve more than the normal risk of repayment or present other unfavorable features and (b) not exceed certain limitations, individually and in the aggregate, which limits are based, in part, on the amount of the Home Federal Bank’s capital. In addition, extensions of credit in excess of certain limits must be approved by the Home Federal Bank’s Board. At June 30, 2025, Home Federal was in compliance with the above restrictions.

~~Federal~~Incentive ~~regulations require that Home Federal Bank comply with a Qualified Thrift Lender test~~Compensation. ~~Under~~ ~~this~~Guidelines ~~test,~~adopted ~~Home~~by ~~Federal~~the ~~Bank~~federal isbanking ~~required~~agencies pursuant to ~~maintain at least 65% of its “portfolio assets” in certain “qualified thrift investments” on a monthly basis in at least nine months of~~ the ~~most~~FDIA ~~recent~~prohibit ~~twelve-month~~excessive ~~period. “Portfolio~~compensation ~~assets”~~as ~~means, in general,~~ an ~~institution's~~unsafe ~~total assets less the sum of (a) specified liquid assets up to 20% of total assets, (b) goodwill~~ and ~~other~~unsound ~~intangible~~practice ~~assets~~ and describe ~~(c)~~compensation ~~the~~as ~~value~~excessive ofwhen ~~property used to conduct~~ the ~~institution's~~amounts ~~business. “Qualified~~paid ~~thrift~~are ~~investments”~~unreasonable ~~include~~or ~~various~~disproportionate ~~types of loans made for residential and housing purposes, investments related~~ to ~~such~~the ~~purposes,~~services ~~including~~performed ~~certain~~by ~~mortgage-backed~~an ~~and~~executive ~~related securities and consumer loans. If Home Federal Bank fails the QTL test~~officer, ~~it must operate under certain restrictions on its activities. The Dodd-Frank Act made noncompliance potentially subject to agency enforcement action for violation of law. At June 30~~employee, ~~2024~~director, ~~Home~~or ~~Federal~~principal ~~Bank believes it meets the QTL test~~stockholder.

~~Community~~In ~~Reinvestment~~June ~~Act~~2010, the federal banking agencies issued comprehensive guidance on incentive compensation policies (the “Incentive Compensation Guidance”) intended to ensure that the incentive compensation policies of banking organizations do not undermine the safety and soundness of such organizations by encouraging excessive risk-taking. The Incentive Compensation Guidance, which covers all employees that have the ability to materially affect the risk profile of an organization, either individually or as part of a group, is based upon the key principles that a banking organization’s incentive compensation arrangements should (i) provide incentives that do not encourage risk-taking beyond the organization’s ability to effectively identify and manage risks, (ii) be compatible with effective internal controls and risk management, and (iii) be supported by strong corporate governance, including active and effective oversight by the organization’s board of directors. Any deficiencies in compensation practices that are identified may be incorporated into the organization’s supervisory ratings, which can affect its ability to make acquisitions or perform other actions. The Incentive Compensation Guidance provides that enforcement actions may be taken against a banking organization if its incentive compensation arrangements or related risk-management control or governance processes pose a risk to the organization’s safety and soundness and the organization is not taking prompt and effective measures to correct the deficiencies.

Home Federal Bank is subject to the provisions of the Community Reinvestment Act of 1977 (“CRA”), which require the appropriate federal bank regulatory agency to assess a bank’s performance under the CRA in meeting the credit needs of the community serviced by Home Federal Bank, including low and moderate income neighborhoods. The regulatory agency’s assessment of Home Federal Bank’s record is made available to the public. Further, a bank’s CRA performance must be considered in connection with a bank’s application, to among other things, establish a new branch office that will accept deposits, relocate an existing office or merge or consolidate with, or acquire the assets or assume the liabilities of, a federally regulated financial institution. An unsatisfactory rating may be the basis for denial of certain applications. Home Federal Bank received a “satisfactory” rating during its most recent CRA examination.

On October 24, 2023, the Office of the Comptroller of the Currency and the other federal banking agencies issued a final rule to strengthen and modernize the CRA regulations. Under the final rule, banks with assets of at least $600 million as of December 31 in both of the prior two calendar years and less than $2 billion as of December 31 in either of the prior two calendar years will be an “intermediate bank.” The agencies will evaluate intermediate banks under the Retail Lending Test and either the current community development test, referred to in the final rule as the Intermediate Bank Community Development Test, or, at the bank’s option, the Community Development Financing Test. The applicability date for the majority of the provisions in the CRA regulations is January 1, 2026, and additional requirements will be applicable on January 1, 2027.

Table of Contents

Limitations on Transactions with Affiliates.

Home Federal Bank’s authority to engage in transactions with its “affiliates” is limited by federal regulations and by Sections 23A and 23B of the Federal Reserve Act. In general, these transactions must be on terms which are as favorable to Home Federal Bank as comparable transactions with non-affiliates. Additionally, certain types of these transactions are restricted to an aggregate percentage of Home Federal Bank's capital. Collateral in specified amounts must usually be provided by affiliates to receive loans from Home Federal Bank. In addition, Office of Comptroller of the Currency regulations prohibit a savings bank from lending to any affiliate that is engaged in activities that are not permissible for bank holding companies and from purchasing the securities of any affiliate other than a subsidiary.

Home Federal Bank’s authority to extend credit to its directors, executive officers, and 10% shareholders ("insiders"), as well as to entities controlled by such persons, is currently governed by the requirements of Sections 22(g) and 22(h) of the Federal Reserve Act and Regulation O of the Federal Reserve Board. Among other things, these provisions require that all loans or extensions of credit to insiders (a) be made on terms that are substantially the same as and follow credit underwriting procedures that are not less stringent than those prevailing for comparable transactions with unaffiliated persons and that do not involve more than the normal risk of repayment or present other unfavorable features and (b) not exceed certain limitations, individually and in the aggregate, which limits are based, in part, on the amount of the Home Federal Bank's capital. In addition, extensions of credit in excess of certain limits must be approved by the Home Federal Bank’s Board. At June 30, 2024, Home Federal was in compliance with the above restrictions.

Incentive Compensation.

Guidelines adopted by the federal banking agencies pursuant to the FDIA prohibit excessive compensation as an unsafe and unsound practice and describe compensation as excessive when the amounts paid are unreasonable or disproportionate to the services performed by an executive officer, employee, director, or principal stockholder.

In June 2010, the federal banking agencies issued comprehensive guidance on incentive compensation policies (the “Incentive Compensation Guidance”) intended to ensure that the incentive compensation policies of banking organizations do not undermine the safety and soundness of such organizations by encouraging excessive risk-taking. The Incentive Compensation Guidance, which covers all employees that have the ability to materially affect the risk profile of an organization, either individually or as part of a group, is based upon the key principles that a banking organization’s incentive compensation arrangements should (i) provide incentives that do not encourage risk-taking beyond the organization’s ability to effectively identify and manage risks, (ii) be compatible with effective internal controls and risk management, and (iii) be supported by strong corporate governance, including active and effective oversight by the organization’s board of directors. Any deficiencies in compensation practices that are identified may be incorporated into the organization’s supervisory ratings, which can affect its ability to make acquisitions or perform other actions. The Incentive Compensation Guidance provides that enforcement actions may be taken against a banking organization if its incentive compensation arrangements or related risk-management control or governance processes pose a risk to the organization’s safety and soundness and the organization is not taking prompt and effective measures to correct the deficiencies.

On May 6, 2024, the Office of the Comptroller of the Currency approved a notice of proposed rule-making to implement section 956 of the Dodd–Frank Act. The proposal would establish new requirements for incentive-based compensation at certain covered institutions. Office of the Comptroller of the Currency-supervised institutions that would be subject to the proposed rule include national banks, federal savings associations, and federal branches and agencies, as well as these institutions’ subsidiaries (other than brokers, dealers, insurance providers, investment companies, and investment advisers), that offer incentive-based compensation and have average total consolidated assets of at least $1 billion.

The proposed rule would prohibit incentive-based compensation arrangements that encourage inappropriate risks by a covered institution (1) by providing an executive officer, employee, director, or principal shareholder of the covered institution with excessive compensation, fees, or benefits; or (2) that could lead to material financial loss to the covered financial institution. NoThe proposed rule has not yet been finalized. No assurance can be given as to whether or when this proposal will be adopted in final form or its impact on Home Federal Bank.

Regulation of Residential Mortgage Loan Originators. Under the final rule adopted by the federal bank regulatory authorities pursuant to the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, residential mortgage loan originators employed by financial institutions, such as Home Federal Bank, must register with the Nationwide Mortgage Licensing System and Registry, obtain a unique identifier from the registry, and maintain their registration. Any residential mortgage loan originator who fails to satisfy these requirements will not be permitted to originate residential mortgage loans.

~~Under~~Anti-Money ~~the~~Laundering. ~~final~~All ~~rule~~financial ~~adopted~~institutions, byincluding ~~the~~savings associations, are subject to federal ~~bank~~laws ~~regulatory~~that ~~authorities~~are ~~pursuant~~designed to prevent the ~~Secure~~use ~~and~~of ~~Fair~~the U.S. ~~Enforcement~~financial ~~for~~system ~~Mortgage~~to ~~Licensing~~fund ~~Act~~terrorist ofactivities. ~~2008,~~Financial ~~residential~~institutions ~~mortgage~~operating ~~loan~~in ~~originators~~the ~~employed~~United byStates ~~financial institutions,~~must ~~such~~develop asanti-money ~~Home~~laundering ~~Federal~~compliance ~~Bank~~programs, ~~must~~due ~~register~~diligence ~~with~~policies, ~~the~~and ~~Nationwide~~controls ~~Mortgage~~to ~~Licensing~~ensure ~~System~~the detection and ~~Registry,~~reporting ~~obtain~~of money alaundering. ~~unique~~Such ~~identifier~~compliance ~~from~~programs ~~the~~are ~~registry~~intended to supplement compliance requirements, ~~and~~also ~~maintain~~applicable ~~their~~to ~~registration.~~financial ~~Any~~institutions, ~~residential~~under ~~mortgage~~the ~~loan~~Bank ~~originator~~Secrecy ~~who~~Act ~~fails~~and ~~to satisfy~~the ~~these~~Office ~~requirements~~of ~~will~~Foreign ~~not~~Assets beControl ~~permitted~~Regulations. Home Federal Bank has established policies and procedures to ~~originate~~ensure ~~residential~~compliance ~~mortgage~~with ~~loans~~these provisions.

Privacy Standards and Cybersecurity. The Gramm-Leach-Bliley Financial Services Modernization Act of 1999 modernized the financial services industry by establishing a comprehensive framework to permit affiliations among commercial banks, insurance companies, securities firms and other financial service providers. Federal banking agencies, including the FDIC, have adopted guidelines for establishing information security standards and cybersecurity programs for implementing safeguards under the supervision of the board of directors. These guidelines, along with related regulatory materials, increasingly focus on risk management and processes related to information technology and the use of third parties in the provision of financial services. These regulations require Home Federal Bank to disclose its privacy policy, including informing consumers of its information sharing practices and informing consumers of their rights to opt out of certain practices. In addition, Louisiana State and other federal and state cybersecurity and data privacy laws and regulations may expose Home Federal Bank to risk and result in certain risk management costs. In addition, on November 18, 2021, the federal banking agencies announced the adoption of a final rule providing for new notification requirements for banking organizations and their service providers for significant cybersecurity incidents. Specifically, the new rule requires a banking organization to notify its primary federal regulator as soon as possible, and no later than 36 hours after, the banking organization determines that a “computer-security incident” rising to the level of a “notification incident” has occurred. Notification is required for incidents that have materially affected or are reasonably likely to materially affect the viability of a banking organization’s operations, its ability to deliver banking products and services, or the stability of the financial sector. Service providers are required under the rule to notify affected banking organization customers as soon as possible when the provider determines that it has experienced a computer-security incident that has materially affected or is reasonably likely to materially affect the banking organization’s customers for four or more hours. Compliance with the new rule was required by May 1, 2022. Non-compliance with federal or similar state privacy and cybersecurity laws and regulations could lead to substantial regulatory imposed fines and penalties, damages from private causes of action and/or reputational harm.

Table of Contents

~~Anti~~On July 26, 2023, the Securities and Exchange Commission issued a final rule that requires registrants, such as Home Federal Bancorp, to (i) report material cybersecurity incidents on Form 8-~~Money~~K, (ii) ~~Laundering~~include updated disclosure in Forms 10-K and 10-Q of previously disclosed cybersecurity incidents and disclose previously undisclosed individually immaterial incidents when a determination is made that they have become material on an aggregated basis, (iii) disclose cybersecurity policies and procedures and governance practices, including at the board and management levels in Form 10-K, and (iv) disclose the board of directors’ cybersecurity expertise. An Item 1.05 Form 8-K will generally be due four business days after a registrant determines that a cybersecurity incident is material. See Item 1C. Cybersecurity for annual disclosures herein.

~~All~~Federal ~~financial~~Home ~~institutions,~~Loan ~~including~~Bank ~~savings~~System. ~~associations~~Home Federal Bank is a member of the Federal Home Loan Bank of Dallas, ~~are~~which ~~subject~~is toone ~~federal~~of ~~laws~~11 regional Federal Home Loan Banks that ~~are~~administer ~~designed~~a tohome ~~prevent~~financing ~~the~~credit ~~use~~function ofprimarily ~~the~~for Uits members.S. ~~financial~~Each ~~system~~Federal toHome ~~fund~~Loan ~~terrorist~~Bank ~~activities.~~serves ~~Financial institutions~~as ~~operating~~a inreserve ~~the~~or ~~United~~central ~~States~~bank ~~must~~for ~~develop~~its ~~anti-money~~members ~~laundering~~within ~~compliance~~its ~~programs,~~assigned ~~due~~region. ~~diligence~~The ~~policies,~~Federal ~~and~~Home ~~controls~~Loan toBank ~~ensure~~of ~~the~~Dallas ~~detection~~is ~~and~~funded ~~reporting~~primarily from proceeds derived from the sale of ~~money~~consolidated ~~laundering.~~obligations ~~Such~~of ~~compliance~~the ~~programs~~Federal ~~are~~Home ~~intended~~Loan ~~to supplement~~Bank ~~compliance~~System. ~~requirements,~~It ~~also~~makes ~~applicable~~loans to ~~financial~~members ~~institutions~~(i.e., ~~under~~advances) ~~the~~in ~~Bank~~accordance ~~Secrecy~~with ~~Act~~policies and procedures established by the ~~Office~~board of ~~Foreign~~directors ~~Assets~~of ~~Control~~the ~~Regulations~~Federal Home Loan Bank. At June 30, 2025, Home Federal Bank ~~has~~had no ~~established~~advances ~~policies~~from the Federal Home Loan Bank and ~~procedures~~$56.4 tomillion ~~ensure~~available ~~compliance~~on its credit line with the ~~these~~ Federal ~~provisions~~Home Loan Bank.

~~Privacy~~As ~~Standards~~a member, Home Federal Bank is required to purchase and ~~Cybersecurity~~maintain stock in the Federal Home Loan Bank of Dallas. At June 30, 2025, Home Federal Bank had $400,000 in Federal Home Loan Bank stock, which was in compliance with the applicable requirement.

The ~~Gramm-Leach-Bliley~~Federal ~~Financial~~Home ~~Services~~Loan ~~Modernization~~Banks ~~Act~~are ofrequired ~~1999 modernized the financial services industry by establishing a comprehensive framework~~ to ~~permit~~provide ~~affiliations~~funds ~~among commercial banks, insurance companies, securities firms and other financial service providers. Federal banking agencies, including the FDIC, have adopted guidelines~~ for ~~establishing information security standards and cybersecurity programs for implementing safeguards under~~ the ~~supervision~~resolution of ~~the~~troubled ~~board~~savings ofinstitutions ~~directors. These guidelines, along with related regulatory materials, increasingly focus on risk management~~ and ~~processes related~~ to ~~information~~contribute ~~technology and the use of third parties in the provision of financial services. These regulations require Home Federal Bank~~ to ~~disclose~~affordable ~~its~~housing ~~privacy~~programs ~~policy,~~through ~~including~~direct ~~informing~~loans ~~consumers~~or ~~of its information sharing practices and informing consumers of their rights to opt out of certain practices. In addition,~~interest ~~Louisiana~~ subsidies ~~State and other federal and state cybersecurity and data privacy laws and regulations may expose Home Federal Bank to risk and result in certain risk management costs. In addition,~~ on ~~November~~advances ~~18,~~targeted ~~2021, the federal banking agencies announced the adoption of a final rule providing~~ for ~~new~~community ~~notification~~investment ~~requirements for banking organizations~~ and ~~their~~low- ~~service providers for significant cybersecurity incidents. Specifically, the new rule requires a banking organization to notify its primary federal regulator as soon as possible,~~ and ~~no later than 36 hours after, the banking organization determines that a “computer~~moderate-~~security~~income ~~incident”~~housing ~~rising to the level of a “notification incident” has occurred~~projects. ~~Notification~~These iscontributions ~~required for incidents that~~ have ~~materially~~adversely affected ~~or are reasonably likely to materially affect~~ the ~~viability~~level of aFederal ~~banking~~Home ~~organization’s~~Loan ~~operations,~~Bank ~~its~~dividends ~~ability~~paid toin ~~deliver~~the ~~banking~~past ~~products~~ and ~~services,~~could ordo ~~the~~so ~~stability~~in of the ~~financial sector~~future. ~~Service~~ These ~~providers~~contributions ~~are~~also ~~required~~could ~~under~~have ~~the~~an ~~rule~~adverse toeffect ~~notify~~on ~~affected banking organization customers as soon as possible when~~ the ~~provider~~value ~~determines~~of ~~that~~Federal itHome ~~has~~Loan ~~experienced~~Bank astock ~~computer-security~~in ~~incident that has materially affected or is reasonably likely to materially affect~~ the ~~banking organization’s customers for four or more hours~~future. Compliance with the new rule was required by May 1, 2022. Non-compliance with federal or similar state privacy and cybersecurity laws and regulations could lead to substantial regulatory imposed fines and penalties, damages from private causes of action and/or reputational harm.

OnFederal ~~July~~Reserve ~~26,~~System. ~~2023,~~The ~~the~~Federal ~~Securities~~Reserve ~~and~~Board ~~Exchange Commission issued a final rule that~~ requires ~~registrants,~~all ~~such~~depository asinstitutions ~~Home Federal Bancorp,~~ to ~~(i)~~maintain ~~report~~reserves ~~material~~against ~~cybersecurity~~their ~~incidents~~transaction onaccounts ~~Form 8-K,~~ (~~ii)~~primarily ~~include~~ NOW ~~updated~~and ~~disclosure~~Super inNOW ~~Forms~~checking ~~10-K~~accounts) and 10non-Qpersonal oftime ~~previously~~deposits. ~~disclosed~~In ~~cybersecurity~~response ~~incidents~~to ~~and~~the ~~disclose~~COVID-19 ~~previously~~pandemic, ~~undisclosed~~the ~~individually~~Federal ~~immaterial~~Reserve ~~incidents~~reduced ~~when~~reserve arequirement ~~determination~~ratios isto ~~made~~zero ~~that~~percent ~~they~~effective ~~have~~May ~~become material on an aggregated basis~~26, ~~(iii)~~2020 ~~disclose~~to ~~cybersecurity~~support ~~policies~~lending ~~and~~to ~~procedures~~households and businesses. ~~governance~~The ~~practices,~~required ~~including~~reserves atmust ~~the~~be ~~board~~maintained ~~and management levels~~ in ~~Form~~the ~~10-K,~~form ~~and~~of ~~(iv)~~vault ~~disclose~~cash ~~the~~or ~~board~~an ofaccount ~~directors'~~at ~~cybersecurity~~a ~~expertise. An~~Federal ~~Item~~Reserve 1Bank.05 ~~Form~~As ~~8-K~~of ~~will generally~~June be30, ~~due~~2025, ~~four~~the ~~business~~reserve ~~days~~ratio ~~after~~requirement aremained ~~registrant~~at ~~determines~~zero ~~that~~percent aand ~~cybersecurity~~Home ~~incident~~Federal isBank ~~material.~~was ~~See~~not ~~Item~~required ~~1C.~~to maintain ~~Cybersecurity~~any ~~for~~reserve ~~annual disclosures herein~~balance.

Federal Home Loan Bank System.

Home Federal Bank is a member of the Federal Home Loan Bank of Dallas, which is one of 11 regional Federal Home Loan Banks that administer a home financing credit function primarily for its members. Each Federal Home Loan Bank serves as a reserve or central bank for its members within its assigned region. The Federal Home Loan Bank of Dallas is funded primarily from proceeds derived from the sale of consolidated obligations of the Federal Home Loan Bank System. It makes loans to members (i.e., advances) in accordance with policies and procedures established by the board of directors of the Federal Home Loan Bank. At June 30, 2024, Home Federal Bank had no advances from the Federal Home Loan Bank and $186.4 million available on its credit line with the Federal Home Loan Bank.

Table of Contents

As a member, Home Federal Bank is required to purchase and maintain stock in the Federal Home Loan Bank of Dallas. At June 30, 2024, Home Federal Bank had $1.4 million in Federal Home Loan Bank stock, which was in compliance with the applicable requirement.

The Federal Home Loan Banks are required to provide funds for the resolution of troubled savings institutions and to contribute to affordable housing programs through direct loans or interest subsidies on advances targeted for community investment and low- and moderate-income housing projects. These contributions have adversely affected the level of Federal Home Loan Bank dividends paid in the past and could do so in the future. These contributions also could have an adverse effect on the value of Federal Home Loan Bank stock in the future.

Federal Reserve System.

The Federal Reserve Board requires all depository institutions to maintain reserves against their transaction accounts (primarily NOW and Super NOW checking accounts) and non-personal time deposits. In response to the COVID-19 pandemic, the Federal Reserve reduced reserve requirement ratios to zero percent effective May 26, 2020 to support lending to households and businesses. The required reserves must be maintained in the form of vault cash or an account at a Federal Reserve Bank. At June 30, 2024, Home Federal Bank was not required to maintain any reserve balances.

Table of Contents

TAXATION

Federal Taxation

General. Home Federal Bancorp and Home Federal Bank are subject to federal income taxation in the same general manner as other corporations with some exceptions listed below. The following discussion of federal and state income taxation is only intended to summarize certain pertinent income tax matters and is not a comprehensive description of the applicable tax rules. ~~Home~~Our ~~Federal Bank’s~~ tax returns have not been audited during the past five years.

Method of Accounting. For federal income tax purposes, Home Federal Bank reports income and expenses on the accrual method of accounting and used a June 30 ~~tax~~ tax year in ~~2024~~2025 for filing its federal income tax return.

~~Bad~~Taxable ~~Debt~~Distributions ~~Reserves~~and Recapture. ~~The~~Prior to the Small Business Job Protection Act of 1996, ~~eliminated the use of the reserve method of accounting for~~ bad debt reserves bycreated ~~savings associations,~~prior ~~effective~~to ~~for~~January ~~taxable~~1, ~~years~~1988 ~~beginning~~were subject ~~after~~to ~~1995.~~recapture ~~Prior~~into totaxable ~~that~~income ~~time,~~if Home Federal Bank ~~was~~failed ~~permitted~~ to ~~establish~~meet acertain ~~reserve~~thrift ~~for~~asset ~~bad debts~~ and todefinitional ~~make~~tests. ~~additions~~The tofederal ~~the~~legislation ~~reserve.~~eliminated ~~These~~these ~~additions~~savings ~~could,~~association ~~within~~related ~~specified~~recapture ~~formula~~rules. ~~limits~~However, be ~~deducted~~under incurrent ~~arriving at taxable income. In addition~~law, pre-1988 ~~federal~~reserves ~~legislation~~remain ~~required~~subject ~~the~~to recapture ~~over~~should aHome ~~six~~Federal ~~year~~Bank ~~period~~make ofcertain ~~the~~non-dividend ~~excess~~distributions ofor ~~tax~~cease ~~bad~~to ~~debt~~maintain ~~reserves~~a atbank ~~December 31, 1995 over those established as of December 31, 1987~~charter.

~~Taxable~~At ~~Distributions~~June ~~and~~30, ~~Recapture. Prior~~2025, to the ~~Small~~total ~~Business~~federal ~~Job~~pre-1988 ~~Protection~~reserve ~~Act~~was ofapproximately ~~1996,~~$3.3 ~~bad~~million. ~~debt~~The ~~reserves~~reserve ~~created~~reflects ~~prior~~the tocumulative ~~January~~effects 1,of ~~1988~~federal ~~were~~tax ~~subject~~deductions ~~to recapture~~by ~~into taxable income if~~ Home Federal Bank ~~failed~~for towhich ~~meet~~no ~~certain thrift asset and definitional tests. New~~ federal ~~legislation eliminated these savings association related recapture rules. However, under current law, pre-1988 reserves~~ ~~remain~~ income ~~subject~~tax toprovisions ~~recapture~~have ~~should~~been ~~Home Federal Bank make certain non-dividend distributions or cease to maintain a bank charter~~made.

At June 30, 2024, the total federal pre-1988 reserve was approximately $3.3 million. The reserve reflects the cumulative effects of federal tax deductions by Home Federal Bank for which no federal income tax provisions have been made.

Corporate Dividends-Received Deduction. Home Federal Bancorp may exclude from its income 100% of dividends received from Home Federal Bank as a member of the same affiliated group of corporations. The corporate dividends received deduction is 65% in the case of dividends received from corporations which a corporate recipient owns less than 80% but at least 20% of the distribution corporation. Corporations which own less than 20% of the stock of a corporation distributing a dividend may deduct only 50 % of dividends received.

State and Local Taxation

Home Federal Bancorp is subject to the Louisiana Corporation Income Tax based on our Louisiana taxable income. The Corporation Income Tax applies at graduated rates from 4% upon the first $25,000 of of Louisiana taxable income to 8% on all Louisiana taxable income in excess of $200,000. For these purposes, “Louisiana taxable income” means net income which is earned by us within or derived from sources within the State of Louisiana, after adjustments permitted under Louisiana law, including a federal income tax deduction. In addition, Home Federal Bank is subject to the Louisiana Shares Tax which is imposed on the assessed value of a company’s retained earnings and capital stock accounts. The formula for deriving the assessed value is to calculate 15% of the sum of:

(a) 20% of ~~our~~Home Federal Bank’s capitalized earnings, plus

(b) 80% of ~~our~~Home Federal Bank’s taxable stockholders’ equity, minus

Various items may also be subtracted in calculating a company’s capitalized earnings.

2524

Table of Contents

Item 1A. Risk Factors

Not applicable.

Item 1B. Unresolved Staff Comments

Not applicable.

Item 1C. Cybersecurity

The Bank has implemented an information security program that encompasses the Bank’s cybersecurity efforts as part of its risk management process. Risk assessments, including Information Technology and Cybersecurity Risk, are conducted annually by the Chief Risk Officer, Information Technology Officer and Information Security Officer to identify, assess and mitigate risks. The Bank recognizes the need for sound physical and internal controls over its critical financial data, confidential information and digital assets to ensure the accuracy, integrity, and confidentiality of the processed information. As regulated financial institutions, the Company and Bank are also subject to financial privacy laws and their cybersecurity practices are subject to oversight by the federal banking agencies.

The Boards of Directors of the Company and Bank and the Audit Committee of the Company are responsible for ultimate oversight of cybersecurity risks managed daily by management pursuant to the Bank’s information security program. The Boards of Directors annually approve this information security program and regularly receive reports from the Bank’s Information Security Officer and Information Technology Officer that outline the steps undertaken to protect the information and data assets of the Bank and Company. Additionally, the Information Security Officer and Information Technology Officer update the Boards of Directors through supplementary reports on issues related to Cybersecurity readiness.

The Bank’s information security program is developed and implemented by the Bank’s Information Security Officer, Information Technology Officer and Chief Risk Officer. Together with the Bank’s Electronic Data Processing (EDP) Committee, comprised of relevant information technology and business unit stakeholders within Bank management, the Information Security and Information Technology Officers of the Bank work to manage, control and mitigate cybersecurity risks. The Bank’s employees are regularly trained on cybersecurity awareness, and testing is performed to monitor the success of the training. The Board of Directors receives training annually.

The Bank engages a third party to audit and examine its processes, conduct vulnerability assessments, and review the security of its network infrastructure consistent with FFIEC (Federal Financial Institutions Examination Council) Information Technology Audit guidelines, regulatory requirements and federal banking agency expectations. Trusted third parties are engaged to assist the Bank in improving its cybersecurity readiness. The Bank engages third party vendors to monitor and assist in maintaining its network infrastructure. These third-party vendors take an active role in ensuring that the Bank’s systems are protected by testing, reviewing and advising the Bank to strengthen cybersecurity controls when necessary.

The Bank has a vendor oversight risk management process that helps to validate the security and integrity of information collected and maintained by third party vendors that the Bank uses to provide banking services. A key goal of the Bank’s vendor management program includes assessing risks, which include but are not limited to operational, strategic, reputational, cyber, and credit risks. These processes are supported by a specialized vendor that assists the Bank’s management and Board of Directors with properly assessing these risks. Finally, the Bank also has an incident response and business continuity program that is intended to address operational concerns, including cybersecurity risks, during contingency scenarios that may create unknown circumstances. This program is tested annually.

Although the Company and Bank have not, as of the date of this Annual Report on Form 10-K, experienced a cybersecurity threat or incident that materially affected their business strategy, results of operations or financial condition, there can be no guarantee that the Company or Bank will not experience such an incident in the future.

2625

Table of Contents

Item 2. Properties

We currently conduct business from our home office located in Shreveport, Louisiana and six full-service banking offices located in Shreveport, Louisiana, two full-service banking offices located in Bossier City, Louisiana, one full-service banking office located in Minden, Louisiana and one full-service banking office located in Benton, Louisiana. The following table sets forth certain information, as of June 30, ~~2024~~2025, relating to Home Federal Bank’s offices, and one property acquired for potential future administrative offices which is presently vacant.

Description/Address

Leased/Owned

~~Net Book Value of Property~~

~~Amount of Deposits~~

Net Book Value of Property

Amount of Deposits

(Dollars in thousands)

Building (Home Office) 222 Florida Street, Shreveport, LA

Owned

~~1,672~~

--$

1,592

Building/ATM (Market Street Branch) 624 Market Street, Shreveport, LA

Owned

~~661~~

~~65,915~~

595

76,643

Building/ATM (Youree Drive Branch) 6363 Youree Drive, Shreveport, LA

Owned~~(1)~~

~~607~~(1

)

~~160,649~~

568

147,647

Building/ATM (Southern Hills Branch) 9449 Mansfield Road, Shreveport, LA

Owned

~~1,753~~

~~65,090~~

1,645

61,390

Building/ATM (Viking Drive Branch) 2555 Viking Drive, Bossier City, LA

Owned

~~1,562~~

~~52,556~~

1,548

50,483

Building/ATM (Stockwell Branch) 7964 E. Texas Street, Bossier City, LA

Owned

~~1,468~~

~~37,097~~

1,412

29,346

Building/ATM (Northwood Branch) 5841 North Market Street, Shreveport, LA

Owned

~~1,480~~

~~27,243~~

1,520

22,788

Building/ATM (Pierremont Road Branch) 925 Pierremont Road, Shreveport, LA

Owned

~~1,968~~

~~58,594~~

1,884

46,195

Building (2) 614 Market Street, Shreveport, LA

Owned~~(2)~~

~~323~~(2

)

313

Building/ATM (Huntington Branch) 6903 Pines Road, Shreveport, LA

Owned

~~1,830~~

~~11,616~~

1,753

12,379

Building/ATM (Minden Branch) 412 Homer Road, Minden, LA

Owned

~~3,085~~

~~20,425~~

1,807

20,380

Building/ATM (Benton Branch) 104 Sibley Street, Benton, LA

Owned

~~709~~

~~74,822~~$

738

79,039

(1)	The building is owned but the land is subject to an operating lease with a ten-year term expiring March 15, 2028.

(2)	The building is vacant and available to serve as potential future administrative offices and storage.

Item 3. Legal Proceedings

Home Federal Bancorp and Home Federal Bank are not involved in any pending legal proceedings other than nonmaterial legal proceedings occurring in the ordinary course of business.

Item 4. Mine Safety Disclosures

Not applicable.

2726

Table of Contents

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

(a) Home Federal Bancorp’s common stock is traded on the Nasdaq Capital Market under the symbol “HFBL.” At September 2322, ~~2024~~2025, ~~Home~~ Home Federal Bancorp had ~~178~~173 shareholders of record. The number of shareholders does not reflect the number of persons or entities who may hold stock in nominee or “street” name through brokerage firms or others.

(b) Not applicable.

The Company’s repurchases of its common stock during the quarter ended June 30, ~~2024~~2025, including stock-for-stock option exercises are set forth in the table below:

Period	Total Number of Shares Purchased		Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (a)
April 1, 2024 – April 30, 2024		10,648	$	12.19		10,648		49,071
April 1, 2025 – April 30, 2025		28,500	$	13.28		28,500		53,831
May 1, 2024 – May 31, 2024		2,500		11.45		2,500		46,571
May 1, 2025– May 31, 2025		-				-		53,831
June 1, 2024 – June 30, 2024		25,536		11.35		25,536		21,035
June 1, 2025– June 30, 2025		13,500		13.16		13,500		40,331
Total		3842,~~684~~000	$	1113.5924		3842,~~684~~000		2140,~~035~~331

Notes to this table:

(a) On ~~March~~November 71, 2024, the Company announced that its Board of Directors approved the ~~twelfth~~thirteenth stock repurchase program for the repurchase of up to 60100,000 shares. The ~~twelfth~~thirteenth stock repurchase program does not have an expiration date.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

General

Our profitability depends primarily on our net interest income, which is the difference between interest and dividend income on interest-earning assets, principally loans, investment securities, and interest-earning deposits in other institutions, and interest expense on interest-bearing deposits and borrowings from the Federal Home Loan Bank of Dallas. Net interest income is dependent upon the level of interest rates and the extent to which such rates are changing. Our profitability also depends, to a lesser extent, on non-interest income, provision for loan losses, non-interest expenses, and federal income taxes. Home Federal Bancorp, Inc. of Louisiana had net income of $3.69 million in fiscal ~~2024~~2025 compared to net income of $53.76 million in fiscal ~~2023~~2024.

Our business consists primarily of originating single-family real estate loans secured by property in our market area and to a lesser extent, commercial real estate loans, commercial business loans, and real estate secured lines of credit which typically have higher rates and shorter terms than single-family loans. Although our loans are primarily funded by the acquisition of deposits and it is our policy to require commercial customers to have a deposit relationship with us, which primarily consists of NOW accounts or non-interest checking accounts. Due to the continued low interest rate environment, we have sold a substantial amount of our fixed rate single-family residential loan originations in recent periods. Because of an increase in ~~our~~the weighted-average ~~rate~~yield on our interest-~~bearing~~earning assets, ~~partially~~together ~~offset~~with bya andecrease ~~increase~~ in our rate on total interest bearing liabilities, our ~~net~~average interest ~~margin~~rate ~~decreased~~spread increased from 32.7338% to 3 2.0855% during fiscal ~~2024~~2025 compared to ~~2023~~2024, and our net interest income decreased $2280,000 to $18.68 million for fiscal 2025 as compared to $19.0 million for fiscal 2024, asprimarily ~~compared~~due to a $2137.61 million ~~for~~decrease ~~fiscal~~in ~~2023~~average balance of interest earning assets. We expect to continue to emphasize commercial lending in the future in order to improve the yield on our portfolio.

2827

Table of Contents

Home Federal Bancorp’s operations and profitability are subject to changes in interest rates, applicable statutes and regulations, and general economic conditions, as well as other factors beyond our control.

Business Strategy

Our business strategy is focused on operating a growing and profitable community-oriented financial institution. Our current business strategy includes:

• Continuing to Grow and Diversify Our Loan Portfolio. We intend to grow and continue to diversify our loan portfolio by, among other things, emphasizing the origination of commercial real estate and business loans. At June 30, ~~2024~~2025, our commercial real estate loans amounted to $~~143~~138.59 million, or 3029.28% of the total loan portfolio. Our commercial business loans amounted to $4954.31 million, or 1011.46% of the total loan portfolio. Commercial real estate, commercial business, construction and development, and consumer loans all typically have higher yields and are more interest sensitive than long-term single-family residential mortgage loans.

•

Diversify Our Products and Services. We intend to continue to emphasize our commercial business products to provide a full-service banking relationship to our commercial customers. We have introduced mobile and Internet banking and remote deposit capture, to better serve our commercial clients. Additionally, we have developed new deposit products focused on expanding our deposit base to new types of customers.

•

Enhancing Core Earnings. We expect to continue to emphasize commercial real estate and business loans, which generally bear interest rates higher than residential real estate loans, and sell a substantial part of our fixed rate residential mortgage loan originations.

• Expanding Our Franchise in our Market Area and Contiguous Communities. We intend to continue to pursue opportunities to expand our market area by opening additional de novo banking offices and possibly through acquisitions of other financial institutions and banking related businesses. We expect to focus on contiguous areas to our current locations in Caddo, Bossier and Webster Parishes. ~~In May 2024, we moved our full-service branch location in Minden, Louisiana to a permanent facility located at 412 Homer Road, Minden, Louisiana.~~

• Maintain Our Asset Quality. At June 30, ~~2024~~2025, our non-performing assets totaled $23.03 million, or 0.3154% of total assets. We had $~~418~~970,000 in other real estate owned at June 30, ~~2024~~2025. We intend to continue to stress maintaining high asset quality, even as we continue to grow our institution and diversify our loan portfolio.

•

Cross-Selling Products and Services and Emphasizing Local Decision Making. We have promoted cross-selling products and services in our branch offices and emphasized our local decision making and streamlined loan approval process.

Critical Accounting Policies

In reviewing and understanding financial information for Home Federal Bancorp, you are encouraged to read and understand the significant accounting policies used in preparing our consolidated financial statements. These policies are described in Note 1 of the notes to our consolidated financial statements included in Item 8 of this document. Our accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Accordingly, the consolidated financial statements require certain estimates, judgments, and assumptions, which are believed to be reasonable based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the periods presented. The following accounting policies comprise those that management believes are the most critical to aid in fully understanding and evaluating our reported financial results. These policies require numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the period or in future periods.

2928

Table of Contents

During the year ended June 30, 2024, we implemented new current expected credit loss accounting policies, procedures, and controls as part of our adoption of ASU No. 2016-13 and subsequent ASUs issued to amend ASC Topic 326.

Allowance for Credit Losses. We have identified the calculation of the allowance for credit losses as a critical accounting policy, due to the higher degree of judgment and complexity than our other significant accounting policies.

Business Combinations. Acquisition Accounting. Acquisitions are accounted for under the acquisition method of accounting. The acquisition method of accounting requires the Company as the acquirer to recognize the fair value of assets acquired and liabilities assumed at the acquisition date, as well as recognize goodwill. If the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed in an acquisition, goodwill is recognized. The Company records provisional amounts of fair value at the time of acquisition. The provisional fair values are subject to modification for up to one year after the acquisition.

Acquired Loans. Subsequent to the adoption of ASU 2016-13, acquired loans are segregated between those purchased with credit deterioration (“PCD”) and those that are not (“non-PCD”). Loans considered PCD include those individual loans (or groups of loans with similar risk characteristics) that as of the date of acquisition are assessed as having experienced a more-than-insignificant deterioration in credit quality since origination. The assessment of what is more-than-insignificant credit deterioration since origination considers information including, but not limited to, financial assets that are delinquent, on nonaccrual and/or otherwise adversely risk rated as of the acquisition date, those that have been downgraded since origination, and those for which, after origination, credit spreads have widened beyond the threshold specified in policy. The Company bifurcates the fair value discount between the credit and noncredit components and records an allowance for credit losses for PCD loans by adding the credit portion of the fair value discount to the initial amortized cost basis and increasing the allowance for credit losses at the date of acquisition. Any noncredit discount or premium resulting from acquiring loans with credit deterioration is allocated to each individual asset. All non-PCD loans acquired are recorded at the estimated fair value of the loan at acquisition, with the estimated allowance for credit loss recorded as a provision for credit losses through earnings in the period in which the acquisition has occurred. The noncredit discount or premium for PCD loans and full discount for non-PCD loans will be accreted to interest income using the interest method based on the effective interest rate at the acquisition date.

Under the transition provisions of ASU 2016-13, the Company classified all purchased credit impaired loans (“PCI”) previously accounted for under Financial Accounting Standard Subtopic 310-30 to be classified as PCD, without reassessing whether the financial assets meet the criteria of PCD as of the date of adoption. The application of these provisions resulted in an adjustment to the amortized cost basis of the financial asset to reflect the addition of the allowance for credit losses at the date of adoption. The Company elected not to maintain pools of loans accounted for under Subtopic 310-30 at adoption. The Company was also not required to reassess whether modifications to individual acquired financial assets accounted for in pools were troubled debt restructurings as of the date of adoption. The noncredit discount, after the adjustment for the allowance for credit losses, is accreted to interest income using the interest method based on the effective interest rate determined at the adoption date.

Goodwill. Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired. Goodwill has an indefinite useful life and is evaluated for impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired.

Core Deposit Intangible. Core deposit intangibles represent the estimated value of long-term deposit relationships acquired in business combinations. The Company’s policy is to amortize these intangibles on an accelerated basis over their estimated useful life, which the estimated useful lives are periodically reviewed for reasonableness. Core deposit intangibles are tested for impairment if events and circumstances indicate the carrying amount of the asset may not be recoverable from future cash flows.

3029

Table of Contents

Selected Financial and Other Data

Set forth below is selected consolidated financial and other data of Home Federal Bancorp. The information at or for the years ended June 30, ~~2024~~2025 and ~~2023~~2024 is derived in part from the audited financial statements that appear in this Form 10-K.

	At June 30,
	2024		2023
	2025		2024
	(In thousands)
Selected Financial and Other Data:
Total assets	$	~~637~~609,~~512~~492	$	~~660~~637,~~915~~512
Cash and cash equivalents		3417,~~948~~347		2434,~~765~~948
Securities available for sale		2734,~~037~~246		3927,~~551~~037
Securities held to maturity		6761,~~302~~334		7467,~~423~~302
Loans held-for-sale		1,~~733~~540		41,733
Loans receivable, net		~~470~~461,~~852~~004		~~489~~470,~~493~~852
Deposits		~~574~~546,~~007~~290		~~597~~574,~~361~~007
Federal Home Loan Bank advances		--		--
Other Borrowings		4,000		7,000
Other Borrowings		7,000		8,550
Total Stockholders’ equity		55,205		52,803
Total Stockholders’ equity		52,803		50,542

	As of or for the Year Ended June 30,
	2024			2023
	2025			2024
	(Dollars in thousands, except per share amounts)
Selected Operating Data:
Total interest income	$	3130,~~864~~462		$	2631,~~631~~864
Total interest expense		1211,~~913~~791			512,~~079~~913
Net interest income		18,~~951~~671			2118,~~552~~951
Provision for loan losses		40			868
Provision for (recovery of) loan losses		(126	)		40
Net interest income after provision for loan losses		18,~~911~~797			2018,~~684~~911
Total non-interest income		12,~~584~~005			21,~~099~~584
Total non-interest expense		16,~~426~~148			16,~~013~~426
Income before income tax expense		4,~~069~~654			64,~~770~~069
Income tax expense		~~476~~766			~~1,066~~476
Net income	$	3,~~593~~888		$	53,~~704~~593
Earnings per share of common stock:
Basic	$	1.1827		$	1.8918
Diluted	$	1.1826		$	1.8117

	As of or for the Year Ended June 30,
	2025			2024

Selected Operating Ratios(1):
Average yield on interest-earning assets		5.28	%		5.19	%
Average rate on interest-bearing liabilities		2.73			2.81
Average interest rate spread(2)		2.55			2.38
Net interest margin(2)		3.23			3.08
Average interest-earning assets to average interest-bearing liabilities		133.86			133.54
Net interest income after provision for loan losses to non-interest expense		116.40			115.13
Total non-interest expense to average assets		2.62			2.51
Efficiency ratio(3)		78.11			79.99
Return on average assets		0.63			0.55
Return on average equity		7.31			7.01
Average equity to average assets		8.62			7.83
Dividend payout ratio(4)		41.90			43.66

Table of Contents

	As of or for the Year Ended June 30,
Selected Financial and Other Data (Continued)	As of or for the Year Ended June 30,
	2024			2023
	2025			2024
Selected Operating Ratios(1):
Selected Quality Ratios(5):
Average yield on interest-earning assets		5.19	%		4.61	%
Non-performing loans as a percent of loans receivable, net		0.51	%		0.32	%
Average rate on interest-bearing liabilities		2.81			1.24
Non-performing assets as a percent of total assets		0.54			0.30
Average interest rate spread(2)		2.38			3.37
Allowance for credit losses as a percent of total loans receivable		0.96			0.96
Net interest margin(2)		3.08			3.73
Net charge-offs to average loans receivable		(0.01	)		0.20
Average interest-earning assets to average interest-bearing liabilities		133.54			141.05
Allowance for credit losses as a percent of non-performing loans		191.99			300.72
Net interest income after provision for loan losses to non-interest expense		115.13			129.17
Bank Capital Ratios(5):
Total non-interest expense to average assets		2.51			2.59
Common Equity Tier 1		13.59	%		13.29	%
Efficiency ratio(3)		79.99			67.71
Tier 1 Capital		13.59			13.29
Return on average assets		0.55			0.92
Total Capital		14.67			14.35
Return on average equity		7.01			11.57
Leverage		9.40			8.99
Average equity to average assets		7.83			7.98
Tangible Capital		9.40			8.99
Dividend payout ratio		43.66			27.00
Selected Financial and Other Data (Continued)
Selected Quality Ratios(4):
Non-performing loans as a percent of loans receivable, net		0.32	%		0.25	%
Non-performing assets as a percent of total assets		0.30			0.24
Allowance for credit losses as a percent of total loans receivable		0.96			1.05
Net charge-offs to average loans receivable		0.20			0.03
Allowance for credit losses as a percent of non-performing loans		300.72			417.85
Bank Capital Ratios(4):
Common Equity Tier 1		13.29	%		12.79	%
Tier 1 Capital		13.29			12.79
Total Capital		14.35			13.95
Leverage		8.99			8.69
Tangible Capital		8.99			8.69
Other Data:
Offices (branch and home)		11			1011
Employees (full-time)		7867			7478

(1)	With the exception of end of period ratios, all ratios are based on average monthly balances during the indicated periods.
(2)	Average interest rate spread represents the difference between the average yield on interest-earning assets and the average rate paid on interest-bearing liabilities, and net interest margin represents net interest income as a percentage of average interest-earning assets.
(3)	Non-GAAP: The efficiency ratio represents the ratio of non-interest expense divided by the sum of net interest income and non-interest income.
(4)	Asset quality ratios and capital ratios are end of period ratios, except for net charge-offs to average loans receivable.

(1)	With the exception of end of period ratios, all ratios are based on average monthly balances during the indicated periods.

(2)	Average interest rate spread represents the difference between the average yield on interest-earning assets and the average rate paid on interest-bearing liabilities, and net interest margin represents net interest income as a percentage of average interest-earning assets.

(3)	Non-GAAP: The efficiency ratio represents the ratio of non-interest expense divided by the sum of net interest income and non-interest income.

(4)	Reflects dividends paid during the fiscal year divided by net income.

(5)	Asset quality ratios and capital ratios are end of period ratios, except for net charge-offs to average loans receivable.

Changes in Financial Condition

Total assets decreased $2328.40 million, or 34.54%, from $~~660~~637.95 million at June 30, ~~2023~~2024 to $~~637~~609.5 million at June 30, ~~2024~~2025. The decrease in assets was comprised of decreases in ~~net~~cash ~~loans~~and ~~receivable~~cash equivalents of $1817.6 million, or 350.84%, from $~~489~~34.59 million at June 30, ~~2023~~2024 to $~~470~~17.93 million at June 30, ~~2024~~2025, ~~investment~~net ~~securities~~loans receivable of $189.09 million, or 152.81%, from $~~114~~470.09 million at June 30, ~~2023~~2024 to $96461.0 million at June 30, ~~2024~~2025, ~~core~~premises ~~deposit~~and ~~intangible~~equipment of $~~334~~1.0 million,~~000,~~ or 215.87%, from $118.53 million at June 30, ~~2023~~2024 to $117.23 million at June 30, ~~2024~~2025, core ~~deferred~~deposit ~~tax~~intangible ~~asset~~ of $~~132~~284,000, or 1023.17%, from $1.32 million at June 30, ~~2023~~2024 to $~~1.2~~915,000 ~~million~~ at June 30, ~~2024~~2025, ~~other~~loans-held-for-sale ~~assets~~ of $74193,000, or 511.21%, ~~from~~ from $1.47 million at June 30, ~~2023~~2024 to $1.35 ~~million~~ at June 30, ~~2024~~2025, ~~accrued~~other ~~interest~~assets ~~receivable~~ of $1545,000, or 03.83%, from $1.835 million at June 30, ~~2023~~2024 to $1.7831 million at June 30, ~~2024~~2025, and ~~partially~~deferred ~~offset~~tax byasset ~~increases in cash and cash equivalents~~ of $~~10.2 million~~18,000, or ~~41.~~1.5%, from $241.818 million at June 30, 2024 ~~2023~~ to $341.916 million at June 30, ~~2024~~2025, ~~loans-held-for-sale~~partially offset by increases in real estate owned of $~~1.7 million~~552,000, or 132.1% from $4418,000 at June 30, ~~2023~~2024 to $~~1.7~~970,000 ~~million~~ at June 30, ~~2024~~2025, ~~premises~~investment ~~and~~securities ~~equipment~~ of ~~$1.7~~ ~~million~~$277,000, or 100.53%, from $1696.60 million at June 30, ~~2023~~2024 to $1896.32 million at June 30, ~~2024~~2025, bank owned life insurance of $~~110~~116,000, or 1.67%, from $6.78 million at June 30, ~~2023~~2024 to $6.89 million at June 30, ~~2024~~2025, and ~~real~~accrued ~~estate~~interest ~~owned~~receivable of $5061,000, or 133.64% ~~from $368~~,~~000~~ ~~at June 30, 2023 to $418,000 at June 30, 2024. The decrease in investment securities was primarily due to $17.7 million in principal payments. The increase in cash and cash equivalents~~ from $241.878 million at June 30, ~~2023~~2024 to $341.984 million at June 30, ~~2024 was mainly due to decreases in loans receivable and investment securities~~2025.

Loans receivable, net decreased $189.69 million, or 32.81%, from $~~489~~470.59 million at June 30, ~~2023~~2024 to $~~470~~461.90 million at June 30, ~~2024~~2025. In recent periods we diversified the loan products we offer and increased our efforts to originate higher yielding commercial real estate loans and lines of credit and commercial business loans which were deemed attractive due to their generally higher yields and shorter anticipated lives compared to single-family residential mortgage loans. As of June 30, ~~2024~~2025, Home Federal Bank had $~~143~~138.59 million of commercial real estate loans, 3029.28% of the total loan portfolio, and $4954.31 million of commercial business loans, 1011.46% of the total loan portfolio. Although commercial loans are generally considered to have greater credit risk than other certain types of loans, we attempt to mitigate such risk by originating such loans in our market area to known borrowers.

Table of Contents

Securities available-for-sale increased $7.2 million, or 26.7%, from $27.0 million at June 30, 2024 to $34.2 million at June 30, 2025. This increase resulted primarily from purchases of $12.7 million in securities, partially offset by principal repayments of $5.9 million. Securities held-to-maturity decreased $6.0 million, or 8.9%, from $67.3 million at June 30, 2024 to $61.3 million at June 30, 2025. This decrease was primarily due to principal repayments of $6.0 million.

Total liabilities decreased $30.4 million, or 5.2%, from $584.7 million at June 30, 2024 to $554.3 million at June 30, 2025. The decrease in liabilities was comprised of decreases in total deposits of $27.7 million, or 4.8%, from $574.0 million at June 30, 2024 to $546.3 million at June 30, 2025, and other borrowings of $3.0 million, or 42.9%, from $7.0 million at June 30, 2024 to $4.0 million at June 30, 2025, partially offset by an increase in other accrued expenses and liabilities of $273,000, or 8.6%, from $3.2 million at June 30, 2024 to $3.5 million at June 30, 2025, and advances from borrowers for taxes and insurance of $22,000, or 4.2%, from $521,000 at June 30, 2024 to $543,000 at June 30, 2025. The decrease in deposits resulted from decreases in certificates of deposit of $27.5 million, or 12.8%, from $214.9 million at June 30, 2024 to $187.4 million at June 30, 2025, money market deposits of $11.7 million, or 13.7%, from $85.5 million at June 30, 2024 to $73.8 million at June 30, 2025, and non-interest deposits of $7.9 million, or 6.1%, from $130.3 million at June 30, 2024 to $122.4 million at June 30, 2025, partially offset by increases in savings deposits of $19.0 million, or 24.8%, from $76.6 million at June 30, 2024 to $95.6 million at June 30, 2025, and NOW accounts of $506,000, or 0.8%, from $66.6 million at June 30, 2024 to $67.1 million at June 30, 2025. The Company had no balances in brokered deposits at June 30, 2025 or June 30, 2024.

Stockholders’ equity increased $2.4 million, or 4.5%, from $52.8 million at June 30, 2024 to $55.2 million at June 30, 2025. The increase in stockholders’ equity was comprised of net income for the year ended June 30, 2025 of $3.9 million, a decrease in the Company’s accumulated other comprehensive loss of $681,000, the vesting of restricted stock awards, stock options, and the release of employee stock ownership plan shares totaling $424,000, and proceeds from the issuance of common stock from the exercise of stock options of $111,000, partially offset by dividends paid totaling $1.6 million, and stock repurchases of $1.1 million.

Table of Contents

Cash and cash equivalents increased $10.2 million, or 41.1%, from $24.8 million at June 30, 2023 to $34.9 million at June 30, 2024. The increase in cash and cash equivalents was primarily due to decreases in loans receivable and investment securities.

Securities available-for-sale decreased $12.6 million, or 31.6%, from $39.6 million at June 30, 2023 to $27.0 million at June 30, 2024. This decrease resulted primarily from purchases of $2.7 million in securities, partially offset by principal repayments of $12.1 million.

Securities held-to-maturity decreased $5.6 million, or 7.7%, from $72.9 million at June 30, 2023 to $67.3 million at June 30, 2024. This decrease was primarily due to principal repayments of $5.6 million.

Total liabilities decreased $25.7 million, or 4.2%, from $610.4 million at June 30, 2023 to $584.7 million at June 30, 2024. The decrease in liabilities was comprised of decreases in total deposits of $23.4 million, or 3.9%, from $597.4 million at June 30, 2023 to $574.0 million at June 30, 2024, other borrowings of $1.6 million, or 18.1%, from $8.6 million at June 30, 2023 to $7.0 million at June 30, 2024, other accrued expenses and liabilities of $727,000, or 18.6%, from $3.9 million at June 30, 2023 to $3.2 million at June 30, 2024, and advances from borrowers for taxes and insurance of $33,000, or 6.0%, from $554,000 at June 30, 2023 to $521,000 at June 30, 2024,. The decrease in deposits resulted from decreases in money market deposits of $28.7 million, or 25.1%, from $114.2 million at June 30, 2023 to $85.5 million at June 30, 2024, non-interest bearing deposits of $15.2 million, or 10.5%, from $145.6 million at June 30, 2023 to $130.3 million at June 30, 2024, and savings deposits of $5.3 million, or 6.4%, from $81.9 million at June 30, 2023 to $76.6 million at June 30, 2024, partially offset by increases in certificates of deposit of $24.5 million, or 12.9%, from $190.4 million at June 30, 2023 to $214.9 million at June 30, 2024, and NOW accounts of $1.3 million, or 2.0%, from $65.3 million at June 30, 2023 to $66.6 million at June 30, 2024. The Company had no balances in brokered deposits at June 30, 2024 compared to $3.0 million at June 30, 2023. There was a shift of balances between deposit categories due to customers moving funds from lower yielding categories to higher yielding categories.

Shareholders’ equity increased $2.3 million, or 4.5%, from $50.5 million at June 30, 2023 to $52.8 million at June 30, 2024. The increase in shareholders’ equity was comprised of current year net income of $3.6 million, the vesting of restricted stock awards, stock options, and the release of employee stock ownership plan shares totaling $500,000, proceeds from the issuance of common stock from the exercise of stock options of $373,000, and a decrease in the Company’s accumulated other comprehensive loss of $39,000, partially offset by dividends paid totaling $1.6 million, stock repurchases of $487,000, and CECL implementation totaling $189,000.

Table of Contents

Average Balances, Net Interest Income Yields Earned and Rates Paid. The following table shows for the periods indicated the total dollar amount of interest from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Tax-exempt income and yields have not been adjusted to a tax-equivalent basis. All average balances are based on monthly balances. Management does not believe that the monthly averages differ significantly from what the daily averages would be.

	June 30,
	2024											2023
	2025										2024
							Average	~~Average~~									Average	~~Average~~
	Average						Yield/	~~Yield/~~			Average	~~Average~~					Yield/	~~Yield/~~
	Balance		Interest				Rate	~~Rate~~			Balance	~~Balance~~		Interest	~~Interest~~		Rate	~~Rate~~
	(Dollars in thousands)
Interest-earning assets:
Loans receivable(1)	$	~~499~~460,~~237~~356		$	$27,346	~~29,016~~		5.94	~~5.81~~%	%	$	$499,237	~~442,469~~	$	$29,016	~~23,452~~		5.81	~~5.30~~%	%
Investment securities		~~106~~96,~~526~~178			2,266	~~2,477~~		2.36	~~2.33~~			106,526	~~113,332~~		2,477	~~2,205~~		2.33	~~1.95~~
Interest-earning deposits		820,~~550~~647			850	~~371~~		4.12	~~4.34~~			8,550	~~22,001~~		371	~~974~~		4.34	~~4.43~~
Total interest-earning assets		~~614~~577,~~313~~181			30,462	~~31,864~~		5.28	~~5.19~~%	%		614,313	~~577,802~~		31,864	~~26,631~~		5.19	~~4.61~~%	%
Non-interest-earning assets		40,~~597~~105										40,597	~~40,255~~
Total assets	$	~~654~~617,~~910~~286									$	$654,910	~~618,057~~
Interest-bearing liabilities:
Savings accounts		7490,~~135~~458			1,544	~~479~~		1.71	~~0.65~~%	%		74,135	~~105,850~~		479	~~312~~		0.65	~~0.29~~%	%
NOW accounts		6770,~~224~~375			821	~~355~~		1.17	~~0.53~~			67,224	~~63,074~~		355	~~164~~		0.53	~~0.26~~
Money market accounts		9376,~~178~~494			1,656	~~2,296~~		2.16	~~2.46~~			93,178	~~106,146~~		2,296	~~1,078~~		2.46	~~1.02~~
Certificates of deposit accounts		~~213~~189,~~661~~204			7,420	~~8,868~~		3.92	~~4.15~~			213,661	~~126,156~~		8,868	~~2,952~~		4.15	~~2.34~~
Total interest-bearing deposits		~~448~~426,~~198~~531			11,441	~~11,998~~		2.68	~~2.68~~			448,198	~~401,226~~		11,998	~~4,506~~		2.68	~~1.12~~
FHLB advances		~~3,119~~14			-	~~180~~		4.65	~~5.77~~			3,119	~~1,623~~		180	79		5.77	~~4.87~~
Other bank borrowings		84,~~700~~650			350	~~735~~		7.53	~~8.45~~			8,700	~~6,784~~		735	~~494~~		8.45	~~7.28~~
Total interest-bearing liabilities		~~460~~431,~~017~~195			11,791	~~12,913~~		2.73	~~2.81~~%	%		460,017	~~409,633~~		12,913	~~5,079~~		2.81	~~1.24~~%	%
Non-interest-bearing liabilities:
Non-interest-bearing demand accounts		~~139~~128,~~330~~336										139,330	~~155,885~~
Other liabilities		4,~~289~~538										4,289	~~3,224~~
Total liabilities		~~603~~564,~~636~~069										603,636	~~568,742~~
Total stockholders’ equity(2)		5153,~~274~~217										51,274	~~49,315~~
Total liabilities and equity	$	~~654~~617,~~910~~286									$	$654,910	~~618,057~~
Net interest-earning assets	$	~~154~~145,~~296~~986									$	$154,296	~~168,169~~
Net interest income; average interest rate spread(3)			~~$ 18,951~~	$	18,671			2.55	~~2.38~~%	%				$	$18,951	~~21,552~~		2.38	~~3.37~~%	%
Net interest margin(4)								3.23	~~3.08~~%	%								3.08	~~3.73~~%	%
Average interest-earning assets to average interest-bearing liabilities								133.86	~~133.54~~%	%								133.54	~~141.05~~%	%

(1)	Includes loans held for sale.

(2)	Includes retained earnings and accumulated other comprehensive loss.

(3)	Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate on interest-bearing liabilities.

(4)	Net interest margin is net interest income divided by net average interest-earning assets.

3433

Table of Contents

Rate/Volume Analysis. The following table describes the extent to which changes in interest rates and changes in volume of interest-related assets and liabilities have affected Home Federal Bancorp’s interest income and interest expense during the periods indicated. For each category of interest-earning assets and interest-bearing liabilities, information is provided on changes attributable to (i) changes in volume (change in volume multiplied by prior year rate), (ii) changes in rate (change in rate multiplied by current year volume), and (iii) total change in rate and volume. The combined effect of changes in both rate and volume has been allocated proportionately to the change due to rate and the change due to volume.

2024 vs. 2023

2023 vs. 2022

2025 vs. 2024

2024 vs. 2023

Increase (Decrease)

Total

Increase (Decrease)

Total

Due to

Increase

Due to

Increase

Rate

Volume

(Decrease)

Rate

Volume

(Decrease)

(In thousands)

Interest income:

Investment securities

~~404~~30

(~~132~~241

)

~~272~~(211

)

~~464~~404

~~232~~(132

)

~~696~~272

Loans receivable, net

~~2,555~~590

3(2,~~009~~260

)

5(1,~~564~~670

)

12,~~988~~555

3,~~963~~009

5,~~951~~564

Interest-earning deposits

(846

)

~~(595~~525

)

~~(603~~479

)

~~906~~(8

)

(~~156~~595

)

~~750~~(603

)

Total interest-earning assets

~~2,951~~574

2(1,~~282~~976

)

5(1,~~233~~402

)

32,~~358~~951

42,~~039~~282

75,~~397~~233

Interest expense:

Savings accounts

~~260~~960

~~(93~~105

)

~~167~~1,065

7260

(8893

)

~~(81~~167

)

NOW accounts

~~180~~449

1117

~~191~~466

95180

1211

~~107~~191

Money market accounts

~~1,350~~(229

)

(~~132~~411

)

~~1,218~~(640

)

~~953~~1,350

17(132

)

~~970~~1,218

Certificate accounts

~~3,868~~(433

)

2(1,~~048~~015

)

5(1,~~916~~448

)

13,~~223~~868

~~517~~2,048

15,~~740~~916

Total deposits

~~5,658~~747

(1,~~834~~304

)

~~7,492~~(557

)

25,~~278~~658

~~458~~1,834

27,~~736~~492

FHLB advances and other borrowings

~~129~~(44

)

~~213~~(521

)

~~342~~(565

)

~~261~~129

~~205~~213

~~466~~342

Total interest-bearing liabilities

~~5,787~~703

2(1,~~047~~825

)

7(1,~~834~~122

)

25,~~539~~787

~~663~~2,047

37,~~202~~834

Increase (Decrease) in net interest income

(~~2,836~~129

)

~~235~~(151

)

(~~2,601~~280

)

~~819~~(2,836

)

~~3,376~~235

4(2,~~195~~601

)

Comparison of Operating Results for the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

General. The ~~decrease~~increase in net income for the year ended June 30, ~~2024~~2025, as compared to the year ended June 30, ~~2023~~2024, resulted primarily from aan ~~decrease~~increase ~~in net interest income~~ of $~~2.6 million~~421,000, or 1226.16%, ~~a decrease~~ in non-interest income, a decrease of $~~515~~278,000, or 241.57%, ~~and an increase~~ in non-interest expense, and an increase of $~~413~~166,000, ~~or 2.6%, partially offset by a decrease~~ in the ~~provision~~recovery of credit losses ~~of $828~~,~~000,~~ orpartially ~~95.4%,~~offset ~~and~~by aan ~~decrease in~~increase ~~provision for income taxes~~ of $~~590~~290,000, or 5560.39%., ~~The decrease~~ in ~~net~~the ~~interest~~provision ~~income~~ for ~~the~~income ~~year~~taxes ~~ended~~and ~~June~~a ~~30, 2024, compared to the year ended June 30, 2023, resulted from an increase in total interest expense~~ decrease of $~~7.8 million~~280,000, or ~~154~~ 1.25%, ~~partially offset by an increase~~ in ~~total~~net interest income ~~of $5~~.2 ~~million, or 19.7%.~~ The ~~increase~~decrease in ~~total~~net interest ~~expense~~income for the year ended June 30, ~~2024~~2025, as compared to the year ended June 30, ~~2023~~2024, was primarily due to a decrease of $71.5 4 million, or ~~166~~4.34%, ~~increase~~ in ~~interest~~total ~~expense on deposits. The increase in~~ interest ~~expense~~income, partially onoffset ~~deposits~~by ~~was~~a ~~primarily~~decrease ~~due~~of ~~to an~~ $871.51 million, or 698.47%, ~~increase~~ in ~~average~~total ~~balance~~interest ~~of certificates of deposit, combined with a 181 basis point increase in rate paid on certificates of deposit for the year ended June 30, 2024, compared to the year ended June 30, 2023~~expense. The Company’s average interest rate spread was 2.3855% for the year ended June 30, ~~2024~~2025, compared to 32.3738% for the year ended June 30, ~~2023~~2024. The Company’s net interest margin was 3.0823% for the year ended June 30, ~~2024~~2025, compared to 3.7308% for the year ended June 30, ~~2023~~2024.

Net Interest Income. Net interest income amounted to $1918.07 million for fiscal year ~~2024~~2025, a decrease of $~~2.6 million~~280,000, or ~~12.~~ 1.5%, compared to $2119.60 million for fiscal year ~~2023~~2024. The decrease primarily resulted from ana ~~increase~~decrease in total interest ~~expense~~income of $71.84 million, partially offset by ana ~~increase~~decrease in total interest ~~income~~expense of $51.21 million.

The average interest rate spread ~~decreased~~increased from 32.3738% for fiscal ~~2023~~2024 to 2.3855% for fiscal ~~2024~~2025, while the average balance of interest-earning assets ~~increased~~decreased from $~~577~~614.8 3 million to $~~614~~577.32 million during the same periods. The percentage of average interest-earning assets to average interest-bearing liabilities ~~decreased~~increased to 133.5486% for fiscal ~~2024~~2025 compared to ~~141~~133.0554% for fiscal ~~2023~~2024. The average rate paid on certificates of deposit ~~increased~~decreased from 24.3415% for fiscal ~~2023~~2024 to 43.1592% for fiscal ~~2024~~2025. Net interest margin ~~decreased~~increased to 3.0823% for fiscal ~~2024~~2025 compared to 3.7308% for fiscal ~~2023~~2024.

3534

Table of Contents

Interest income ~~increased~~decreased $51.24 million, or 194.74%, to $3130.95 million for fiscal ~~2024~~2025 compared to $2631.6 9 million for fiscal ~~2023~~2024, primarily due to ana decrease ~~increase~~ in interest income from loans of $51.67 million, and ana ~~increase~~decrease of $~~400~~326,000 in interest income from investment securities. ~~The~~ ~~increase in the average balance of loans receivable was primarily due to new loans originated by our commercial lending division.~~ The average yield of the loan portfolio increased by 5113 basis points during fiscal ~~2024~~2025 mainly due to a higher interest rate environment.

Interest expense ~~increased~~decreased $71.81 million, or ~~154~~8.27%, to $1211.98 million for fiscal ~~2024~~2025 compared to $512.19 million for fiscal ~~2023~~2024, primarily as a result of ~~increases~~decreases in the average rate paid on ~~interest-bearing~~ money ~~deposits~~market accounts and certificates of deposit.

Provision for Credit Losses. On July 1, 2023, we adopted the new current expected credit loss (“CECL”) methodology for estimating credit losses. This resulted in a $189,000 increase to the allowance for credit losses and a one-time cumulative adjustment resulted in a $189,000 decrease to stockholders’ equity. For purchased credit deteriorated loans, we applied the guidance under CECL using the prospective transition approach. As ~~a result, we adjusted the amortized cost basis~~ of the purchased credit deteriorated loans by $170,000 to reclassify the purchase discount to the allowance for credit losses on July 1, 2023. The allowance for credit losses account increased $359,000 from these two transactions. No provision expense was recorded in the first quarter of fiscal 2024, a recovery of credit losses of $16,000 was recorded in the second quarter of fiscal 2024, a provision of $11,000 was recorded in the third quarter of fiscal 2024 and a provision of $45,000 was recorded in the fourth quarter of fiscal 2024. As of June 30, ~~2024~~2025, the allowance for credit losses was $4.65 million, and the ratio of allowance for credit losses to gross loans was 0.96%. As of June 30, ~~2023~~2024, the allowance for credit losses was $54.26 million, and the ratio of allowance for credit losses to gross loans was 10.0596%.

At June 30, ~~2024~~2025, the Company had $13.93 million of non-performing assets (defined as non-accruing loans, accruing loans 90 days or more past due, and other real estate owned) compared to $1.69 million onof non-performing assets at June 30, ~~2023~~2024, consisting of ~~three commercial~~six ~~non~~one-~~real~~to-four ~~estate~~family residential loans, ~~five~~two ~~single-family~~home ~~residential~~equity loans, ~~four~~three ~~home~~commercial ~~equity~~non-real ~~line~~estate loans, two commercial real-~~of-credit~~estate loans, and ~~three~~ one single-family residence ~~residences~~ in other real estate owned at June 30, ~~2024~~2025, compared to ~~seven~~five ~~single~~one-to-four family residential loans, ~~two~~four home equity loans, three commercial non-real estate loans, ~~one consumer loan~~ and ~~two~~three single-family residences in other real estate owned at June 30, ~~2023~~2024. At June 30, ~~2024~~2025 the Company had ~~five~~eight ~~commercial non~~one-~~real~~to-~~estate~~four ~~loans, six single~~ family residential loans, ~~four~~two home- equity ~~line~~loans, five commercial non-ofreal-~~credit~~estate loans, two commercial real-estate loans, and one ~~auto~~consumer loan classified as substandard, compared to six ~~ten~~one-to-four ~~single~~ family residential loans, ~~three~~five commercial non-real-estate loans, ~~two~~four ~~commercial~~home ~~real~~equity ~~estate~~ loans, and ~~three~~one ~~home~~consumer ~~equity~~loan ~~line-of-credit loans~~ classified as substandard at June 30, ~~2023~~2024. There were no loans classified as doubtful at June 30, ~~2024~~ 2025 or June 30, ~~2023~~ 2024.

Non-Interest Income. The $~~515~~421,000 ~~decrease~~increase in non-interest income for the year ended June 30, ~~2024,~~2025 compared to the prior year ~~ended~~was ~~June~~primarily ~~30,~~due ~~2023,~~to ~~resulted~~a ~~from~~decrease an of ~~increase~~$150,000 in loss on sale of real estate, an increase of $~~415~~134,000, ~~a decrease~~ in ~~gain~~other onnon-interest ~~sale~~income, ofan ~~loans~~increase of $~~201~~119,000, ~~and a decrease~~ in gain on sale of ~~fixed~~loans, ~~assets~~an increase of $444,000, ~~partially offset by an increase~~ in service charges on deposit accounts ~~of $48~~,~~000,~~ anand ~~increase in gain on sale of securities of $26,000,~~ an increase ~~in other non-interest income~~ of $246,000, ~~and an increase~~ in income from bank owned life insurance ~~of $7~~,~~000.~~ ~~The~~partially ~~decrease~~offset inby ~~gain~~an onincrease ~~sale~~ of ~~loans for the year ended June 30~~$32,000 ~~2024, was primarily due to a decrease~~ in ~~mortgage loan originations caused by the higher interest rate environment. The~~ loss on sale of ~~real estate for the year ended June 30, 2024, was primarily due to the bulk sale of twenty-one distressed rental properties in December 2023~~securities.

Non-Interest Expense. The $~~413~~278,000 ~~increase~~decrease in non-interest expense for the year ended June 30, ~~2024~~2025, compared to the year ended June 30, ~~2023~~2024, ~~resulted~~is primarily ~~from~~ attributable ~~increases~~to decreases of $584,000 in compensation and benefits expense, of $~~436~~217,000, ~~audit~~in franchise and ~~examination~~bank ~~fees~~shares oftax expense, $~~235~~215,000, ~~amortization~~in ofadvertising ~~core deposit intangible~~ expense, of $~~160~~68,000, ~~franchise~~in ~~and~~other ~~bank~~non-interest ~~shares tax~~ expense, of $~~125~~62,000, ~~other~~in ~~non-interest expense~~professional offees, $~~125~~49,000, ~~occupancy~~in amortization ~~and~~of ~~equipment~~core ~~expense~~deposit ofintangible expense, $~~122~~46,000, in deposit insurance premium expense, ofand $9621,000, in loan and ~~advertising~~collection expense. ofThe ~~$20,000,~~decreases were partially offset by ~~decreases~~increases ~~in professional fees~~ of $~~676~~784,000, in data processing expense, of $~~187~~152,000, ~~and~~in occupancy ~~loan~~ and ~~collection~~equipment expense, ofand $4348,000 in audit and examination fees. The ~~decrease~~increase in ~~professional~~data ~~fees~~processing ~~for~~expense ~~the~~resulted ~~year~~from ~~ended~~a ~~June~~billing ~~30,~~discrepancy ~~2024~~with our core processor, ~~was~~which ~~primarily~~had ~~due~~failed to ~~the~~issue ~~acquisition~~invoices offor ~~First~~certain ~~National~~services ~~Bank~~dating ofback to ~~Benton,~~December ~~which~~2022. ~~increased~~Upon ~~professional~~discovery ~~fees~~of ~~for~~ the ~~year ended~~issue, ~~June~~we ~~30,~~negotiated ~~2023.~~a ~~The~~discounted ~~increases~~settlement into ~~compensation~~resolve ~~and~~the ~~benefits~~outstanding ~~expense~~invoices, ~~were~~which ~~primarily~~resulted ~~due~~in tothe ~~additional~~increase ~~branch~~for ~~and~~the ~~back~~year ~~office~~ended ~~staff~~June 30, 2025.

36Provision for Income Tax Expense. The provision for income taxes amounted to $766,000 and $476,000 for the fiscal years ended June 30, 2025 and 2024, respectively. Our effective tax rate was 16.5% for fiscal 2025 and 11.7% for fiscal 2024.

Table of Contents

Provision for Income Tax Expense. The provision for income taxes amounted to $476,000 and $1.1 million for the fiscal years ended June 30, 2024 and 2023, respectively. Our effective tax rate was 11.7% for fiscal 2024 and 15.7% for fiscal 2023.

Exposure to Changes in Interest Rates

Our ability to maintain net interest income depends upon our ability to earn a higher yield on interest-earning assets than the rates we pay on deposits and borrowings. Our interest-earning assets consist primarily of securities available-for-sale and long-term residential and commercial mortgage loans, which have fixed rates of interest. Consequently, our ability to maintain a positive spread between the interest earned on assets and the interest paid on deposits and borrowings can be adversely affected when market rates of interest rise.

We have maintained a significant portfolio of available-for-sale securities during the past few years in order to better position the Company for a rising interest rate environment in the long term. At June 30, ~~2024~~2025 and ~~2023~~2024, securities available-for-sale amounted to $2734.02 million and $3927.6 0 million, respectively, or 45.2462% and 64.0424%, respectively, of total assets at such dates.

Quantitative Analysis. The Office of the Comptroller of the Currency provides a quarterly report on the potential impact of interest rate changes upon the market value of portfolio equity. Management reviews the quarterly reports from the Office of the Comptroller of the Currency, which show the impact of changing interest rates on net portfolio value. Net portfolio value is the difference between incoming and outgoing discounted cash flows from assets, liabilities, and off-balance sheet contracts.35

Net Portfolio Value. Our interest rate sensitivity is monitored by management through the use of a model which internally generates estimates of the change in our net portfolio value (“NPV”) over a range of interest rate scenarios. NPV is the present value of expected cash flows from assets, liabilities, and off-balance sheet contracts. The NPV ratio, under any interest rate scenario, is defined as the NPV in that scenario divided by the market value of assets in the same scenario. The following table sets forth our NPV as of June 30, 2024:

Change in Interest Rates in	Net Portfolio Value								NPV as % of Portfolio Value of Assets
Basis Points (Rate Shock)	Amount		$ Change			% Change			NPV Ratio			Change
	(Dollars in thousands)
300	$	67,371	$	(9,374	)		(12.21	)%		12.47	%		(0.63	)%
200		72,060		(4,685	)		(6.10	)		12.95			(0.15	)
100		73,616		(3,129	)		(4.08	)		12.85			(0.24	)
Static		76,745		--			--			--			--
(100)		83,780		7,035			9.17			14.11			1.02
(200)		88,883		12,138			15.82			14.69			1.60

Qualitative Analysis. Our ability to maintain a positive “spread” between the interest earned on assets and the interest paid on deposits and borrowings is affected by changes in interest rates. Our fixed-rate loans generally are profitable, if interest rates are stable or declining since these loans have yields that exceed our cost of funds. If interest rates increase, however, we would have to pay more on our deposits and new borrowings, which would adversely affect our interest rate spread. In order to counter the potential effects of dramatic increases in market rates of interest, we have underwritten our mortgage loans to allow for their sale in the secondary market. Total loan originations amounted to $209.9 million for fiscal 2024 and $244.0 million for fiscal 2023, while loans sold amounted to $16.0 million and $24.9 million during the same respective periods. We have invested excess funds from loan payments and prepayments and loan sales in investment securities classified as available-for-sale. As a result, Home Federal Bancorp is not as susceptible to rising interest rates as it would be if its interest-earning assets were primarily comprised of long-term fixed rate mortgage loans. With respect to its floating or adjustable rate loans, Home Federal Bancorp writes interest rate floors and caps into such loan documents. Interest rate floors limit our interest rate risk by limiting potential decreases in the interest yield on an adjustable rate loan to a certain level. As a result, we receive a minimum yield even if rates decline farther, and the interest rate on the particular loan would otherwise adjust to a lower amount. Conversely, interest rate ceilings limit the amount by which the yield on an adjustable rate loan may increase to no more than six percentage points over the rate at the time of origination. Finally, we intend to place a greater emphasis on shorter-term consumer loans and commercial business loans in the future.

Table of Contents

Change in Interest Rates in	Net Portfolio Value								NPV as % of Portfolio Value of Assets
Basis Points (Rate Shock)	Amount		$ Change			% Change			NPV Ratio			Change
	(Dollars in thousands)
300	$	71,719	$	(6,457	)		(8.26	)%		13.47	%		(0.18	)%
200		75,195		(2,981	)		(3.81	)		13.77			0.12
100		77,742		(434	)		(0.56	)		13.90			0.25
Static		78,176		-			-			13.65			-
(100)		78,709		533			0.68			13.44			(0.21	)
(200)		79,170		994			1.27			13.21			(0.44	)

Qualitative Analysis. Our ability to maintain a positive “spread” between the interest earned on assets and the interest paid on deposits and borrowings is affected by changes in interest rates. Our fixed-rate loans generally are profitable, if interest rates are stable or declining since these loans have yields that exceed our cost of funds. If interest rates increase, however, we would have to pay more on our deposits and new borrowings, which would adversely affect our interest rate spread. In order to counter the potential effects of dramatic increases in market rates of interest, we have underwritten our mortgage loans to allow for their sale in the secondary market. Total loan originations amounted to $156.4 million for fiscal 2025 and $210.0 million for fiscal 2024, while loans sold amounted to $18.3 million and $16.0 million during the same respective periods. We have invested excess funds from loan payments and prepayments and loan sales in investment securities classified as available-for-sale. As a result, Home Federal Bancorp is not as susceptible to rising interest rates as it would be if its interest-earning assets were primarily comprised of long-term fixed rate mortgage loans. With respect to its floating or adjustable rate loans, Home Federal Bancorp writes interest rate floors and caps into such loan documents. Interest rate floors limit our interest rate risk by limiting potential decreases in the interest yield on an adjustable rate loan to a certain level. As a result, we receive a minimum yield even if rates decline farther, and the interest rate on the particular loan would otherwise adjust to a lower amount. Conversely, interest rate ceilings limit the amount by which the yield on an adjustable rate loan may increase to no more than six percentage points over the rate at the time of origination. Finally, we intend to place a greater emphasis on shorter-term consumer loans and commercial business loans in the future.

Liquidity and Capital Resources

Home Federal Bancorp maintains levels of liquid assets deemed adequate by management. Our liquidity ratio averaged 2019.46% for the quarter ended June 30, ~~2024~~2025. We adjust our liquidity levels to fund deposit outflows, repay our borrowings, and to fund loan commitments. We also adjust liquidity, as appropriate, to meet asset and liability management objectives.

Our primary sources of funds are deposits, amortization and prepayment of loans and mortgage-backed securities, maturities of investment securities and other short-term investments, loan sales and earnings, and funds provided from operations. While scheduled principal repayments on loans and mortgage-backed securities are a relatively predictable source of funds, deposit flows and loan prepayments are greatly influenced by ~~general~~ general interest rates, economic conditions, and competition. We set the interest rates on our deposits to maintain a desired level of total deposits. In addition, we invest excess funds in short-term interest-earning accounts and other assets, which provide liquidity to meet lending requirements. Our deposit accounts with the Federal Home Loan Bank of Dallas amounted to $~~185,000~~9.1 million and $~~5.0~~185,000 ~~million~~ at June 30, ~~2024~~2025 and ~~2023~~2024, respectively.

A significant portion of our liquidity consists of securities classified as available-for-sale and cash and cash equivalents. Our primary sources of cash are net income, principal repayments on loans and mortgage-backed securities, and increases in deposit accounts. If we require funds beyond our ability to generate them internally, we have borrowing agreements with the Federal Home Loan Bank of Dallas, which provide an additional source of funds. At June 30, 2024, we had no advances from the Federal Home Loan Bank of Dallas and had $186.4 million in additional borrowing capacity. Additionally, at June 30, 2024, Home Federal Bank was a party to a Master Purchase Agreement with First National Bankers Bank, whereby Home Federal Bank may purchase Federal Funds from First National Bankers Bank in an amount not to exceed $20.4 million. There were no amounts purchased under this agreement as of June 30, 2024. In addition, Home Federal Bancorp had available an $11.0 million line of credit agreement at June 30, 2024 with First National Bankers Bank, maturing on August 29, 2024. At June 30, 2024 there was a $7.0 million balance in the credit line.36

At June 30, 2024, the Company had outstanding loan commitments of $38.3 million to originate loans and commitments under unused lines of credit of $14.8 million. At June 30, 2024, certificates of deposit scheduled to mature in one year or less totaled $185.6 million, or 86.4% of total certificates of deposit. Based on prior experience, management believes that a significant portion of such deposits will remain with us, although there can be no assurance that this will be the case. In addition, the cost of such deposits could be significantly higher upon renewal in a rising interest rate environment. We intend to utilize our high levels of liquidity to fund our lending activities. If additional funds are required to fund lending activities, we intend to sell our securities classified as available-for-sale, as needed.

At June 30, 2024, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.29%, 13.29%, 14.35%, 8.99%, and 8.99%, respectively.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, as defined by Securities and Exchange Commission rules, and have not had any such arrangements during the two years ended June 30, 2024. See Notes 9 and 14 to the Notes to Consolidated Financial Statements contained in Item 8 of this Form 10-K.

Table of Contents

A significant portion of our liquidity consists of securities classified as available-for-sale and cash and cash equivalents. Our primary sources of cash are net income, principal repayments on loans and mortgage-backed securities, and increases in deposit accounts. If we require funds beyond our ability to generate them internally, we have borrowing agreements with the Federal Home Loan Bank of Dallas, which provide an additional source of funds. At June 30, 2025, we had no advances from the Federal Home Loan Bank of Dallas and had $56.4 million in additional borrowing capacity. Additionally, at June 30, 2025, Home Federal Bank was a party to a Master Purchase Agreement with First National Bankers Bank, whereby Home Federal Bank may purchase Federal Funds from First National Bankers Bank in an amount not to exceed $20.4 million. There were no amounts purchased under this agreement as of June 30, 2025. At June 30, 2025, Home Federal Bancorp had a $4.0 million outstanding loan with First National Bankers Bank, which matures on February 5, 2034.

At June 30, 2025, the Company had outstanding loan commitments of $50.5 million to originate loans and commitments under unused lines of credit of $13.1 million. At June 30, 2025, certificates of deposit scheduled to mature in one year or less totaled $172.6 million, or 92.14% of total certificates of deposit. Based on prior experience, management believes that a significant portion of such deposits will remain with us, although there can be no assurance that this will be the case. In addition, the cost of such deposits could be significantly higher upon renewal in a rising interest rate environment. We intend to utilize our high levels of liquidity to fund our lending activities. If additional funds are required to fund lending activities, we intend to sell our securities classified as available-for-sale, as needed.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, as defined by Securities and Exchange Commission rules, and have not had any such arrangements during the two years ended June 30, 2025. See Notes 9 and 14 to the Notes to Consolidated Financial Statements contained in Item 8 of this Form 10-K.

Impact of Inflation and Changing Prices

The consolidated financial statements and related financial data presented herein regarding Home Federal Bancorp have been prepared in accordance with accounting principles generally accepted in the United States of America, which generally require the measurement of financial position and operating results in terms of historical dollars, without considering changes in relative purchasing power over time due to inflation. Unlike most industrial companies, virtually all of our assets and liabilities are monetary in nature. As a result, interest rates generally have a more significant impact on Home Federal Bancorp’s performance than does the effect of inflation. Interest rates do not necessarily move in the same direction or in the same magnitude as the prices of goods and services, since such prices are affected by inflation to a larger extent than interest rates.

Table of Contents

Forward-Looking Statements

This Annual Report on Form 10-K contains certain forward-looking statements (as defined in the Securities Exchange Act of 1934 and the regulations thereunder). Forward-looking statements are not historical facts but instead represent only the beliefs, expectations or opinions of Home Federal Bancorp and its management regarding future events, many of which, by their nature, are inherently uncertain. Forward-looking statements may be identified by the use of such words as: “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, or words of similar meaning, or future or conditional terms such as “will”, “would”, “should”, “could”, “may”, “likely”, “probably”, or “possibly.” Forward-looking statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks, uncertainties and assumption, many of which are difficult to predict and generally are beyond the control of Home Federal Bancorp and its management, that could cause actual results to differ materially from those expressed in, or implied or projected by, forward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) economic and competitive conditions which could affect the volume of loan originations, deposit flows and real estate values; (2) the levels of non-interest income and expense and the amount of loan losses; (3) competitive pressure among depository institutions increasing significantly; (4) changes in the interest rate environment causing reduced interest margins; (5) general economic conditions, either nationally or in the markets in which Home Federal Bancorp is or will be doing business, being less favorable than expected (6) political and social unrest including acts of war or terrorism; or (7) legislation or changes in regulatory requirements adversely affecting the business in which Home Federal Bancorp will be engaged. Home Federal Bancorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

Item 7A. Quantitative and Qualitative Disclosure About Market Risk

Not applicable.

3938

Table of Contents

Item 8. Financial Statements and Supplementary Data

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholders of Home Federal Bancorp, Inc. of Louisiana

Opinion on the Financial Statements

We have audited the accompanying consolidated balance ~~sheet~~sheets of Home Federal Bancorp, Inc. of Louisiana (the “Company”) as of June 30, 2025 and 2024, and the related statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows for each of the ~~year~~two years in the period ended June 30, ~~2024~~2025, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the results of its operations and its cash flows for each of the ~~year~~two years in the period ended June 30, ~~2024~~2025, in conformity with accounting principles generally accepted in the United States of America.

Change in Accounting Principle

As discussed in Note 1 to the financial statements, the Company changed its method of accounting for credit losses effective July 1, 2023, due to the adoption of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments – Credit Losses.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our ~~audit~~audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our ~~audit~~audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our ~~audit~~audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our ~~audit~~audits ~~provides~~provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) ~~relate~~relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit ~~matter~~matters below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

4039

Table of Contents

Allowance for Credit Losses on Loans

As described in Notes 1 and 3 to the financial statements, the Company’s allowance for credit losses on loans (“allowance”) was $4.6 5 million on loans of $~~475~~465.56 million as of June 30, ~~2024~~2025. As described in Note 1, the Company adopted ASC Topic 326, Financial Instruments – Credit Losses, effective July 1, 2023. The Company’s method of estimating the allowance includes the use of historic loss rates that are adjusted for reasonable and supportable forecasts, as well as other qualitative adjustments.

The Company measures the allowance on a pool basis when the loans share similar risk characteristics. Loans that do not share risk characteristics are evaluated on an individual basis. For loans evaluated on a pool basis, the allowance for credit ~~losses~~loss consists of both quantitative and qualitative components. The quantitative component consists of calculating a historical loss rate on each loan pool using internal historical data and applying the loss rates for each respective pool over the expected remaining life of the pooled loans. In addition to the quantitative component, each loan pool includes a qualitative component which aggregates management’s assessment of available information relevant to collectability that is not captured in the quantitative loss estimation process based on the current and expected environment, using reasonable forecasted data. Factors considered by management in developing its qualitative estimates include changes in policies and procedures, the portfolio mix, lending management, problem loan trends, loan review system, changes in economic conditions and collateral values. These estimates involve large amounts of data in tabulating loss and prepayment rates and require complex calculations as well as management judgment in the selection of appropriate inputs.

We have determined that the allowance is a critical audit matter. Auditing the allowance involved significant judgment and complex review in evaluating management’s estimates, such as the segmentation of loan pools, the remaining life of loans in a pool, and evaluating the qualitative factors applied to each pool. The use of different assumptions in developing and applying these estimates could result in a materially different amount for the allowance.

The primary procedures we performed to address this critical audit matter included substantively testing management’s process, which included:

•	Obtained an understanding of and evaluated the appropriateness of the design and operation of the Company’s process for establishing the allowance, including the implementation of the expected credit loss method.

• Evaluated the ~~classification~~classifications of loans by pools, the estimated life of each pool, and the accuracy of historical loss data used in the allowance calculation.

•	Evaluated the reasonableness of management’s assumptions related to the rate of prepayment used in the historical loss calculations by pool and evaluated the relevance and reliability of data used in determining the rate of prepayment.

•

Evaluated the reasonableness of management’s assumptions and judgments related to the selection of qualitative factors included in the loss calculation and evaluated the relevance and reliability of the data supporting those qualitative factors and whether the data was consistent with the qualitative factors applied to each loss pool.

•	Tested the completeness and accuracy of data inputs and mathematical accuracy of the calculated historical loss rates, the determination of the weighted average maturity including rate of prepayment, and the qualitative factors applied to each pool.

/s/ Carr, Riggs, & Ingram, LLC

We have served as the Company’s auditor since 2024.

Birmingham, Alabama

September 3025, ~~2024~~2025

4140

Table of Contents

Report of Independent Registered Public Accounting Firm

Stockholders and the Board of Directors

Home Federal Bancorp, Inc. of Louisiana

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheets of Home Federal Bancorp, Inc. of Louisiana (the “Company”) as of June 30, 2023 and 2022 and the related consolidated statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the two-year period ended June 30, 2023 and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of June 30, 2023 and 2022 and the results of its operations and its cash flows for each of the years in the two-year period ended June 30, 2023 and 2022, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Forvis, LLP

We served as the Company’s auditor from 2021 to 2023.

Fort Worth, Texas

October 2, 2023

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Balance Sheets

June 30, ~~2024~~2025 and ~~2023~~2024

	June 30,
	2024			2023
	2025			2024
	(In Thousands)
	(In thousands except share and per share data)
ASSETS
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $25,505 and $22,215 at June 30, 2024 and June 30, 2023, Respectively)	$	34,948		$	24,765
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $10,380 and $25,505 at June 30, 2025 and June 30, 2024, respectively)	$	17,347		$	34,948
Securities Available-for-Sale (amortized cost June 30, 2024: $30,347; June 30, 2023: $42,910, Respectively)		27,037			39,551
Securities Available-for-Sale (amortized cost June 30, 2025: $36,695; June 30, 2024: $30,347, respectively)		34,246			27,037
Securities Held-to-Maturity (fair value June 30, 2024: $54,450; June 30, 2023: $59,678, Respectively)		67,302			72,879
Securities Held-to-Maturity (fair value June 30, 2025: $51,139; June 30, 2024: $54,450, respectively)		61,334			67,302
Other Securities		~~1,614~~650			1,~~544~~614
Loans Held-for-Sale		1,~~733~~540			41,733
Loans Receivable, Net of Allowance for Credit Losses (June 30, 2024: $4,574; June 30, 2023: $5,173, Respectively)		470,852			489,493
Loans Receivable, Net of Allowance for Credit Losses (June 30, 2025: $4,484; June 30, 2024: $4,574, respectively)		461,004			470,852
Accrued Interest Receivable		1,~~775~~836			1,~~790~~775
Premises and Equipment, Net		1817,~~303~~266			1618,~~561~~303
Bank Owned Life Insurance		6,~~810~~926			6,~~700~~810
Goodwill		2,990			2,990
Core Deposit Intangible		~~1,199~~915			1,~~533~~199
Deferred Tax Asset		1,~~181~~163			1,~~313~~181
Real Estate Owned		~~418~~970			~~368~~418
Other Assets		1,~~350~~305			1,~~424~~350
Total Assets	$	~~637~~609,~~512~~492		$	~~660~~637,~~915~~512
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Deposits:
Non-interest bearing	$	~~130~~122,~~334~~416		$	~~145~~130,~~553~~334
Interest-bearing		~~443~~423,~~673~~874			~~451~~443,~~808~~673
Total Deposits		~~574~~546,~~007~~290			~~597~~574,~~361~~007
Advances from Borrowers for Taxes and Insurance		~~521~~543			~~554~~521
Other Borrowings		74,000			87,~~550~~000
Other Accrued Expenses and Liabilities		3,~~181~~454			3,~~908~~181
Total Liabilities		~~584~~554,~~709~~287			~~610~~584,~~373~~709
STOCKHOLDERS’ EQUITY
Preferred Stock - $0.01 Par Value; 10,000,000 Shares Authorized; None Issued and Outstanding		-			-
Common Stock - $0.01 Par Value; 40,000,000 Shares Authorized: 3,142,168 and 3,133,351 Shares Issued and Outstanding at June 30, 2024 and June 30, 2023, Respectively		32			31
Common Stock - $0.01 Par Value; 40,000,000 Shares Authorized: 3,084,764 and 3,142,168 Shares Issued and Outstanding at June 30, 2025 and June 30, 2024, respectively		32			32
Additional Paid-in Capital		4142,~~739~~187			4041,~~981~~739
Unearned ESOP Stock		(~~408~~321	)		(~~523~~408	)
Retained Earnings		1415,~~055~~241			1214,~~707~~055
Accumulated Other Comprehensive Loss		(21,~~615~~934	)		(2,~~654~~615	)
Total Stockholders’ Equity		5255,~~803~~205			5052,~~542~~803
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	~~637~~609,~~512~~492		$	~~660~~637,~~915~~512

The accompanying notes are an integral part of these consolidated financial statements.

4341

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Statements of Operations

For the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

	For the Years Ended June 30,
	2024			2023
	2025			2024
	(In Thousands, Except Per Share Data)
	(In thousands, except per share data)
INTEREST INCOME
Loans, including fees	$	2927,~~016~~346		$	2329,~~452~~016
Investment securities		~~651~~325			~~251~~651
Mortgage-backed securities		1,~~826~~941			1,~~954~~826
Other interest-earning assets		~~371~~850			~~974~~371
Total interest income		3130,~~864~~462			2631,~~631~~864
INTEREST EXPENSE
Deposits		11,~~998~~441			411,~~506~~998
Federal Home Loan Bank borrowings		~~180~~-			79180
Other bank borrowings		~~735~~350			~~494~~735
Total Interest Expense		12,913			5,079
Total interest expense		11,791			12,913
Net Interest Income		18,951			21,552
Net interest income		18,671			18,951
PROVISION FOR LOAN LOSSES		40			868
PROVISION FOR (RECOVERY OF) CREDIT LOSSES		(126	)		40
Net Interest Income After Provision For Loan Losses		18,911			20,684
Net interest income after provision for credit losses		18,797			18,911
NON-INTEREST INCOME
Gain on sale of loans		~~265~~384			~~466~~265
Loss on sale of real estate		(~~415~~265	)		-(415	)
Gain on sale of fixed assets		-			4
(Loss) Gain on sale of securities		(6	)		26
Gain on sale of securities		26			-
Income on bank owned life insurance		116			110
Income on bank owned life insurance		110			103
Service charges on deposit accounts		1,568			1,524
Service charges on deposit accounts		1,524			1,476
Other income		208			74
Other income		74			50
Total non-interest income		2,005			1,584
Total Non-Interest Income		1,584			2,099
NON-INTEREST EXPENSE
Compensation and benefits		98,~~524~~940			9,~~088~~524
Occupancy and equipment		2,~~202~~354			2,~~080~~202
Data processing		~~655~~1,439			~~842~~655
Audit and examination fees		~~549~~597			~~314~~549
Franchise and bank shares tax		~~656~~439			~~531~~656
Advertising		~~360~~145			~~340~~360
Professional fees		~~557~~495			~~1,233~~557
Loan and collection		~~155~~134			~~198~~155
Amortization Core Deposit Intangible		334			174
Amortization core deposit intangible		284			334
Deposit insurance premium		~~393~~347			~~297~~393
Other expenses		~~1,041~~974			~~916~~1,041
Total Non-Interest Expense		16,426			16,013
Total non-interest expense		16,148			16,426
Income Before Income Taxes		4,069			6,770
Income before income taxes		4,654			4,069
PROVISION FOR INCOME TAX EXPENSE		~~476~~766			~~1,066~~476
Net Income	$	3,593		$	5,704
NET INCOME	$	3,888		$	3,593
EARNINGS PER SHARE
Basic	$	1.1827		$	1.8918
Diluted	$	1.1726		$	1.8117

The accompanying notes are an integral part of these consolidated financial statements.

4442

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Statements of Comprehensive Income

For the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

	For the Years Ended June 30,
	2024			2023
	2025			2024
	(In Thousands)
Net Income	$	3,~~593~~888		$	53,~~704~~593
Other Comprehensive Income (Loss), Net of Tax
Other Comprehensive Income, Net of Tax
Unrealized gains (losses) on securities available for sale:
Unrealized gains on securities available for sale:
Unrealized holding gains (losses) arising during the period		75			(1,208	)
Unrealized holding gains arising during the period		856			75
Less: reclassification adjustments for securities gains (losses) realized in net income		26(6	)		-26
Income Tax Effect		(10181	)		~~253~~(10	)
Total Other Comprehensive Income (Loss), Net of Tax		39			(955	)
Total Other Comprehensive Income, Net of Tax		681			39
Total Comprehensive Income	$	34,~~632~~569		$	43,~~749~~632

The accompanying notes are an integral part of these consolidated financial statements.

4543

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Statements of Changes in Stockholders’ Equity

For the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

	Common Stock			Additional Paid-In Capital		Unearned ESOP Stock			Retained Earnings			Accumulated Other Comprehensive ~~Income (~~Loss)			Total Stockholders’ Equity
	(In Thousands)
BALANCE – June 30, 2022	$	34		$	40,145	$	(639	)	$	14,506		$	(1,699	)	$	52,347
Share Awards Earned		-			123		-			-			-			123
ESOP Compensation Earned		-			287		116			-			-			403
Stock Options Exercised		(3	)		331		-			-			-			328
Dividends Paid		-			-		-			(1,540	)		-			(1,540	)
Stock Options Vested		-			95		-			-			-			95
Company Stock Purchased		-			-		-			(5,963	)		-			(5,963	)
Net Income		-			-		-			5,704			-			5,704
Other Comprehensive Income, Unrealized Loss on Debt Securities, Net of Tax Loss		-			-		-			-			(955	)		(955	)
BALANCE - June 30, 2023	$	31		$	40,981	$	(523	)	$	12,707		$	(2,654	)	$	50,542
Share Awards Earned		-			118		-			-			-			118
Net Income		-			-		-			3,593			-			3,593
Cumulative Effect of Change in Accounting Principle – ASU 2016-13		-			-		-			(189	)		-			(189	)
ESOP Compensation Earned		-			198		115			-			-			313
Stock Options Exercised		-			373		-			-			-			373
Dividends Paid		-			-		-			(1,569	)		-			(1,569	)
Stock Options Vested		-			69		-			-			-			69
Common Stock Issuance for Stock Option Exercises		1			-		-			-			-			1
Cumulative Effect of Change in Accounting Principle – ASU 2016-13		-			-		-			(189	)		-			(189	)
Stock Options Exercised		-			373		-			-			-			373
Company Stock Purchased		-			-		-			(487	)		-			(487	)
Net Income		-			-		-			3,593			-			3,593
Share Awards Earned		-			118		-			-			-			118
Common Stock Issuance for Stock Option Exercises		1			-		-			-			-			1
Other Comprehensive Loss, Unrealized Gain on Debt Securities, Net of Tax		-			-		-			-			39			39
BALANCE – June 30, 2024	$	32		$	41,739	$	(408	)	$	14,055		$	(2,615	)	$	52,803
BALANCE - June 30, 2024	$	32		$	41,739	$	(408	)	$	14,055		$	(2,615	)	$	52,803
Net Income		-			-		-			3,888			-			3,888
ESOP Compensation Earned		-			131		87			-			-			218
Dividends Paid		-			-		-			(1,629	)		-			(1,629	)
Stock Options Vested		-			94		-			-			-			94
Company Stock Purchased		-			-		-			(1,073	)		-			(1,073	)
Share Awards Earned		-			112		-			-			-			112
Common Stock Issuance for Stock Option Exercises		-			111		-			-			-			111
Other Comprehensive Loss, Unrealized Gain on Debt Securities, Net of Tax		-			-		-			-			681			681
BALANCE – June 30, 2025	$	32		$	42,187	$	(321	)	$	15,241		$	(1,934	)	$	55,205

The accompanying notes are an integral part of these consolidated financial statements.

4644

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Statements of Cash Flows

For the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

	For the Years Ended June 30,
	2024			2023
	2025			2024
	(In Thousands)
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	3,~~593~~888		$	53,~~704~~593
Adjustments to Reconcile Net Income to Net
Cash Provided by Operating Activities
Gain on Sale of Loans		(265	)		(466	)
Loss on Sale of Loans		(384	)		(265	)
Gain on Sale of Investments		~~(26~~6	)		-(26	)
Net Amortization and Accretion on Securities		(~~258~~189	)		(27258	)
Amortization of Deferred Loan Fees		(~~113~~71	)		(~~300~~113	)
Amortization of Purchased Loans		(~~756~~263	)		-(756	)
Provision for Loan Losses		40			868
Provision (Recovery) for Credit Loss		(126	)		40
Depreciation of Premises and Equipment		~~944~~1,083			~~869~~944
(Gain) Loss on Sale of Real Estate and Fixed Assets		415			(4	)
Loss on Sale of Real Estate and Fixed Assets		265			415
ESOP Compensation Expense		~~313~~218			~~403~~313
Stock Option Expense		6994			9569
Deferred Income Tax (Benefit) Expense		~~122~~(163	)		~~(174~~122	)
Federal home Loan Bank Stock Dividend		-			(13	)
Share Awards Expense		112			118
Share Awards Expense		118			121
Increase in Cash Surrender Value on Bank Owned Life Insurance		(116	)		(110	)
Increase in Cash Surrender Value on Bank Owned Life Insurance		(110	)		(103	)
Amortization Core Deposit Intangible		284			334
Bad Debt Recovery		-			91
Amortization Core Deposit Intangible		334			-
Changes in Assets and Liabilities:
Origination and Purchase of Loans Held-for-Sale		(17,712	)		(24,865	)
Origination of Loans Held-for-Sale		(18,119	)		(17,712	)
Sale and Principal Repayments on Loans Held-for-Sale		1618,~~248~~696			2916,~~305~~248
Accrued Interest Receivable		15(61	)		~~(666~~15	)
Other Operating Assets		7445			~~(35~~74	)
Other Operating Liabilities		~~(727~~273	)		~~1,302~~(727	)
Net Cash Provided by Operating Activities		25,~~318~~472			122,~~105~~318
CASH FLOWS FROM INVESTING ACTIVITIES
Loan Originations and Principal Collections, Net		18,350			(97,033	)
Loan Originations and Purchases, Net		9,268			18,350
Deferred Loan Fees Collected		4878			~~151~~48
Acquisition of Premises and Equipment		(~~2,686~~46	)		(12,~~181~~686	)
Net Cash Paid in Acquisition		-			(10,244	)
Proceeds from Sale of Real Estate		262			456
Proceeds from Sale of Real Estate and Fixed Assets		456			4
Improvements to Real Estate Owned Prior to Disposition		(117	)		(38	)
Improvements to Real Estate Owned Prior to Disposition		(38	)		(90	)
Changes in FHLB Stock		964			(70	)
Changes in Federal Home Loan Bank Stock		(70	)		(989	)
Activity in Available-for-Sale Securities:
Principal Payments		12,148			9,737
Principal Payments on Securities		5,900			12,148
Purchase of Municipals		-			(1,075	)
Purchase of Mortgage-Backed Securities		(12,695	)		(2,667	)
Proceeds from Sales of Municipals		3,389			-
Proceeds from Sales of Mortgage-Backed Securities		157			3,389
Purchase of Mortgage-Backed Securities		(2,667	)		(6,493	)
Proceeds from Sales of US Treasury Notes		494			-
Purchase of US Treasury Notes		-			(14,611	)
Activity in Held-to-Maturity Securities:
Principal Payments on Mortgage-Backed Securities		5,~~554~~948			65,~~510~~554
Net Cash Provided by (Used in) Investing Activities		34,484			(115,314	)
Net Cash Provided by Investing Activities		10,213			34,484

The accompanying notes are an integral part of these consolidated financial statements.

4745

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY

Consolidated Statements of Cash Flows (Continued)

For the Years Ended June 30, ~~2024~~2025 and ~~2023~~2024

	For the Years Ended June 30,
	2024			2023
	2025			2024
	(In Thousands)
CASH FLOWS FROM FINANCING ACTIVITIES
Net (Decrease) Increase in Deposits	$	(23,354	)	$	65,370
Net Decrease in Deposits	$	(27,717	)	$	(23,354	)
Proceeds from Advances from Federal Home Loan Bank		~~792,701~~-			~~184~~792,~~001~~701
Repayments of Advances from Federal Home Loan Bank		~~(792,701~~-	)		(~~184~~792,~~833~~701	)
Dividends Paid		(1,~~569~~629	)		(1,~~530~~569	)
Company Stock Purchased		(~~487~~1,073	)		(~~5,963~~487	)
Net Increase (Decrease) in Advances from Borrowers for Taxes and Insurance		~~(33~~22	)		~~200~~(33	)
Proceeds from Other Bank Borrowings		~~2,700~~-			62,~~200~~700
Repayment of Other Bank Borrowings		(43,~~250~~000	)		-(4,250	)
Proceeds from Stock Options Exercised		~~374~~111			~~328~~374
Recognition and Retention Plan Share Distributions		-			123
Net Cash Used in Financing Activities		(33,286	)		(26,619	)
Net Cash (Used in) Provided by Financing Activities		(26,619	)		63,896
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(17,601	)		10,183
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		10,183			(39,313	)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		34,948			24,765
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		24,765			64,078
CASH AND CASH EQUIVALENTS, END OF YEAR	$	17,347		$	34,948
CASH AND CASH EQUIVALENTS, END OF YEAR	$	34,948		$	24,765
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest Paid on Deposits and Borrowed Funds		1211,~~913~~752			512,~~079~~913
Income Taxes Paid		~~680~~685			~~950~~680
Market Value Adjustment for Unrealized Gain (Loss) on Debt Securities Available For Sale		49862			~~(1,208~~49	)
Transfer from Loans to Other Real Estate		~~883~~961			~~172~~883
Acquisitions:
Fair Value of Tangible Assets Acquired		-			82,889
Other Intangible Assets Acquired		-			1,510
Liabilities Assumed		-			(77,145	)
Net Identifiable Assets Acquired Over Liabilities Assumed		-			7,254

The accompanying notes are an integral part of these consolidated financial statements.

4846

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies

Nature of Operations

The consolidated financial statements include the accounts of Home Federal Bancorp, Inc. of Louisiana, a Louisiana chartered corporation (the “Company” or “Home Federal Bancorp”) and its wholly owned subsidiary, Home Federal Bank, a federally chartered stock savings bank (the “Bank”), along with its wholly owned subsidiary, Metro Financial Services, Inc.

The Bank is a federally chartered, stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the OCC). The Bank provides financial services to individuals, corporate entities, and other organizations through the origination of loans and the acceptance of deposits in the form of ~~passbook~~ savings, certificates of deposit, and demand deposit accounts. Services are provided by ten branch offices, six of which are located in Shreveport, Louisiana, two in Bossier City, one in Minden, Louisiana and one in Benton, Louisiana. The Bank’s home office is located in Shreveport, Louisiana.

The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities.

Basis of Presentation and Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Home Federal Bank. All significant intercompany balances and transactions have been eliminated.

Segment Reporting

The Company determined that all of its banking operations serve a similar customer base, offer similar products and services, and are managed through similar processes. Therefore, the Company’s banking operations are aggregated into one reportable operating segment, which generates income principally from interest on loans and, to a lesser extent, securities investments, as well as from fees charged in connection with various loan and deposit services. The Chief Operating Decision Maker (“CODM”), is the President and Chief Executive Officer, who for the purposes of assessing performance, making operating decisions, and allocating Company resources, regularly reviews net income as reported in the accompanying consolidated statements of income. The level of disaggregation and amounts of significant segment income and expenses that are regularly provided to the CODM are the same as those presented in the accompanying consolidated statements of income. Likewise, the measure of segment assets is reported on the accompanying consolidated balance sheets as total assets.

Use of Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for credit losses, deferred taxes, and those related to acquisition accounting.

Significant Group Concentrations of Credit Risk

Most of the Company’s activities are provided to customers of the Bank by ten branch offices, six of which are located in the city of Shreveport, Louisiana, two in Bossier City, Louisiana, one in Minden, Louisiana and one in Benton, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City-Minden combined statistical area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana.

~~Cash and Cash Equivalents~~47

For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which have an original maturity date of ninety days or less.

At June 30, 2024 and 2023, cash and cash equivalents consisted of the following:

	2024		2023
	(In Thousands)
Cash on Hand	$	1,920	$	1,825
Demand Deposits at Other Institutions		13,328		17,965
Federal Funds Sold		19,700		4,975
Total	$	34,948	$	24,765

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Cash and Cash Equivalents

At June 30, 2025 and 2024, cash and cash equivalents consisted of the following:

	2025		2024
	(In Thousands)
Cash on Hand	$	2,070	$	1,920
Demand Deposits at Other Institutions		14,127		13,328
Federal Funds Sold		1,150		19,700

Total	$	17,347	$	34,948

Securities

Securities ~~The~~are ~~discussion~~being ~~that~~accounted ~~follows describes the methodology~~ for ~~determining~~in ~~the~~accordance ~~allowance~~with ~~for~~FASB ~~credit~~ASC ~~loss~~320, ~~(“ACL”)~~Investments, ~~for~~which ~~investments~~requires the ~~under~~classification ~~the~~of ~~ASU~~securities ~~2016-13~~into ~~model~~one ~~that~~of ~~was~~three ~~adopted~~categories: ~~effective~~Trading, ~~July 1~~Available-for-Sale, ~~2023~~or Held-to-Maturity. Management ~~The~~determines ~~allowance~~the ~~methodology~~appropriate ~~for~~classification ~~prior~~of ~~periods~~debt issecurities ~~disclosed~~at in the ~~Company’s~~time ~~2023~~of ~~Annual~~purchase ~~Report~~and onre-evaluates ~~Form~~this ~~10-K~~classification periodically.

Securities are being accounted for in accordance with FASB ASC 320’s, Investments, which requires the classification of securities into one of three categories: Trading, Available-for-Sale, or Held-to-Maturity. Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates this classification periodically.

Investments in debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at cost, adjusted for amortization of the related premiums and accretion of discounts, using the interest method. Investments in debt securities that are not classified as held-to-maturity and marketable equity securities that have readily determinable fair values are classified as either trading or available-for-sale securities.

Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings, while net unrealized holding gains and losses on available-for-sale debt securities are excluded from earnings and reported in other comprehensive income.

The Company held no trading securities as of June 30, ~~2024~~2025 and ~~2023~~2024.

Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Securities are periodically reviewed for impairment. For debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline in the fair value below amortized cost basis (impairment) is due to credit or non-credit related factors. Any impairment of available for sale investments that is not credit related is recognized in other comprehensive income, net of applicable taxes. For available for sale investments, credit related impairment is recognized as an ACL on the balance sheet, limited to the amount by which the amortized cost basis exceeds to the fair value, with a corresponding adjustment to earnings. For held to maturity investments, credit related impairment is recognized ~~recognized~~ as an ACL on the balance sheet, for the entire amount of credit loss, with a corresponding adjustment to earnings. Both the ACL and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale security, or more likely than not will be required to sell such security before recovering the amortized cost basis, the entire impairment amount must be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL in such situation. Accrued interest receivable is excluded from the estimate of credit losses.

In evaluating securities in unrealized loss positions for impairment, and the criteria regarding intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by federal governments or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial conditions, among other factors.48

The Bank has invested in Federal Home Loan Bank (“FHLB”) stock, and other similar correspondent banks, which are reflected as other securities at cost in these consolidated financial statements. As a member of the FHLB System, the Bank is required to purchase and maintain stock in an amount determined by the FHLB. The FHLB stock is redeemable at par value at the discretion of the FHLB. These securities are periodically evaluated for impairment based on the ultimate recoverability of par value.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Securities (Continued)

Acquisition Accounting

Acquisitions are accounted for under the purchase method of accounting. The acquisition method of accounting requires the Company as the acquirer to recognize the fair value of assets acquired and liabilities assumed at the acquisition date, as well as recognize goodwill. If the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed in an acquisition, goodwill is recognized. The Company records provisional amounts of fair value at the time of acquisition. The provisional fair values are subject to modification for up to one year after the acquisition.

Loans Held-for-Sale

Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. ~~Net unrealized losses, if any, are recognized through a valuation allowance by charges to income.~~

Loans Receivable

Loans receivable are stated at unpaid principal balances, less allowances for loan losses and unamortized deferred loan fees. Net non-refundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discounts are deferred and amortized on the interest method over the life of the loan.

Allowance for Credit Losses

The ~~discussion~~Company ~~that~~has ~~follows~~elected ~~describes~~to exclude accrued interest receivable from the ~~methodology~~measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. The ACL for ~~determining~~loans is an estimate of the ~~ACL~~expected ~~under~~losses to be realized over the ~~new~~life ~~current~~of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses ~~loss~~ and ~~(“CECL”~~2) ~~model~~loans ~~that~~evaluated ~~was~~individually ~~implemented~~for ~~effective~~expected ~~July~~credit 1,losses. ~~2023~~The inACL ~~accordance~~also ~~with~~includes ~~ASU~~certain ~~No.~~qualitative adjustments to the ASU 2016-13 ~~and~~model. Loans ~~subsequent~~Evaluated ~~ASUs~~Collectively. ~~issued~~Homogeneous toloans ~~amend~~are ~~ASC~~evaluated ~~Topic~~collectively ~~326~~for expected credit losses. The ~~allowance~~loan ~~methodology~~pools/segments ~~for~~with ~~prior~~similar ~~periods~~risk ischaracteristics ~~disclosed~~were indetermined ~~the~~by ~~Company’s~~Call ~~2023 Annual~~ Report codes. Loans onEvaluated ~~Form~~Individually. 10Loans evaluated individually for expected credit losses include loans on non-K.accrual status.

The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income.49

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Allowance for Credit Losses (Continued)

The ACL for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses and 2) loans evaluated individually for expected credit losses. The ACL also includes certain qualitative adjustments to the ASU 2016-13 model.

Loans Evaluated Collectively. Homogeneous loans are evaluated collectively for expected credit losses. The loan pools/segments with similar risk characteristics were determined by Call Report codes.

Loans Evaluated Individually. Loans evaluated individually for expected credit losses include loans on non-accrual status.

Management estimates the allowance balance using relevant available information from internal and external sources relating to past events, current conditions and reasonable and supportable forecasts. Adjustments to historical loss information are made to incorporate our reasonable and supportable forecast of future losses at the portfolio segment level, as well as any necessary qualitative adjustments, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and industry loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis.

Loans evaluated individually may have specific allocations assigned if the measured value of the loan using one of the noted techniques is less than its current carrying value. For loans measured using the fair value of collateral, if the analysis determines that sufficient collateral value would be available for repayment of the debt, then no allocations would be assigned to those loans. Collateral could be in the form of real estate or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification. For all loans, an internal risk rating process is used. The Company believes that internal risk ratings are the most relevant credit quality indicator for these types of loans. Assigning risk ratings involves judgment. Risk ratings may be changed based on ongoing monitoring procedures, or if specific loan review assessments identify a deterioration or an improvement in the loan.

The Company uses the following definitions for risk ratings:

Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less costs to acquire and sell the underlying collateral in a timely manner.

Pass Watch - Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral and are still considered a pass.

Special Mention - Loans identified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date.

52 Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

~~Substandard~~Note ~~- Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any~~1. ~~Loans~~ soSummary ~~classified have a well-defined weakness or weaknesses that jeopardize the liquidation~~ of ~~the~~Significant ~~debt. They~~Accounting ~~are~~Policies ~~characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.~~(Continued)

Allowance ~~Doubtful~~for -Credit ~~Loans~~Losses classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.(Continued)

Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end.

The allocation of the ACL is reviewed to evaluate its appropriateness in relation to the overall risk profile of the loan portfolio. The Company considers risk factors such as: local and national economic conditions; trends in delinquencies and non-accrual loans; the diversity of borrower industry types; and the composition of the portfolio by loan type.

Qualitative and Other Adjustments to Allowance for Credit Losses: In addition to the quantitative credit loss estimates for loans evaluated collectively, qualitative factors that may not be fully captured in the quantitative results are also evaluated. These include changes in lending policy, the nature and volume of the portfolio, overall business conditions in the economy, credit concentrations, competition, model imprecision, and legal and regulatory requirements. Qualitative adjustments are judgmental and are based on Management’s knowledge of the portfolio and the markets in which the Company operates. Qualitative adjustments are evaluated and approved on a quarterly basis. Additionally, the ACL includes other allowance categories that are not directly incorporated in the quantitative results. These include but are not limited to loans-in-process, trade acceptances and overdrafts.

Off Balance Sheet Credit Exposures. The ACL for off balance sheet credit exposures is recorded in other liabilities on the Consolidated Balance Sheet. This ACL represents management’s estimate of expected losses in its unfunded loan commitments and other off balance sheet credit exposures, such as letters of credit and credit recourse on sold residential mortgage loans. The allowance for credit losses specific to unfunded commitments is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). The ACL for off balance sheet credit exposures is increased or decreased by charges or reductions to expense, through the provision for credit losses. In addition to the ACL on loans held for investment, CECL requires a balance sheet liability for unfunded commitments, which is recognized if both of the following conditions are met: (1) the Company has a present contractual obligation to extend credit; and (2) the obligation is not unconditionally cancellable by the Company. Based on the language within the standard loan documents prepared for each HFB commitment, all unfunded commitments are considered unconditionally cancellable and thus no CECL ACL is allocated ~~for the quarter~~.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 1. Summary of Significant Accounting Policies (Continued)

Off-Balance Sheet Credit Related Financial Instruments

In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded.

Real Estate Owned

Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are carried at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell.

Premises and Equipment

Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:

Buildings and Improvements	10 - 40 Years
Furniture and Equipment	3 - 10 Years

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Goodwill

Goodwill represents the excess of the purchase price over the fair value of ~~the~~ the net identifiable assets acquired. Goodwill has an indefinite useful life and is evaluated for impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired. If, as a result of impairment testing, the fair value of goodwill is lower than its carrying amount, goodwill must be written down to its implied fair value. Goodwill impairment was neither indicated nor recorded during the years ended June 30, 2025 or 2024.

Core Deposit Intangible

Core deposit intangibles represent the estimated value of long-term deposit relationships acquired in business combinations. The accumulated amortization of the Core deposit intangible is $~~508~~793,000, and the carrying value as of June 30, ~~2024~~2025 was $~~1.2 million~~915,000, to be expensed over ~~103~~91 months. The Company’s policy is to amortize these intangibles on an accelerated basis over their estimated useful life, which the estimated useful lives are periodically reviewed for reasonableness. Core deposit intangibles are tested for impairment if events and circumstances indicate the carrying amount of the asset may not be recoverable from future cash flows.

Bank Owned Life Insurance

The Company has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income.

Income Taxes

The Company and its wholly-owned subsidiary file a consolidated federal income tax return on a fiscal year basis. Each entity will pay its pro-rata share of income taxes in accordance with a written tax-sharing agreement.

The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 1. Summary of Significant Accounting Policies (Continued)

The Company follows the provisions of the Income Taxes Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740. ASC 740 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties, and disclosures required. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.

While the Bank is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders’ equity and net income.

Earnings per Share

Earnings per share are computed based upon the weighted average number of common shares outstanding during the year.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Non-Direct Response Advertising

The Company expenses all advertising costs, except for direct-response advertising, as incurred. Non-direct response advertising costs were $~~360~~145,000 and $~~340~~360,000 for the years ended June 30, ~~2024~~2025 and ~~2023~~2024, respectively.

In the event the Company incurs expense for material direct-response advertising, it will be amortized over the estimated benefit period. Direct-response advertising consists of advertising whose primary purpose is to elicit sales to customers who could be shown to have responded specifically to the advertising and results in probable future benefits. For the years ended June 30, ~~2024~~2025 and ~~2023~~2024, the Company did not incur any amount of direct-response advertising.

Stock-Based Compensation

GAAP requires all share-based payments to employees, including grants of employee stock options and recognition and retention share awards, to be recognized as expense in the statement of operations based on their fair values. The amount of compensation is measured at the fair value of the options or recognition and retention share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or recognition and retention awards. This guidance applies to awards granted or modified after January 1, 2006, or any unvested awards outstanding prior to that date.

Reclassification

Certain financial statement balances included in the prior year consolidated financial statements have been reclassified to conform to the current year presentation.

Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale debt securities, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss).

Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale debt securities, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss).

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 1. Summary of Significant Accounting Policies (Continued)

The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows:

	2024			2023
	2025			2024
	(In Thousands)
Net Unrealized Loss on Debt Securities Available-for-Sale	$	(32,~~310~~449	)	$	(3,~~359~~310	)
Tax Effect		~~695~~515			~~705~~695
Net-of-Tax Amount	$	(21,~~615~~934	)	$	(2,~~654~~615	)

Recent Accounting Pronouncements

ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” In June 2016, the FASB issued ASU 2016-13 which requires earlier measurement of credit losses and enhances disclosures. The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The Company formed a cross-functional working group, who have worked through an implementation plan which includes assessment, review and documentation of various aspects of the implementation plan. After significant evaluation of approved methodologies, the Company determined to utilize a third-party vendor model, in which a weighted average remaining maturity methodology was appropriate for the size and complexity of the Company. ASU 2016-13 is effective for the Company for annual and interim periods beginning on July 1, 2023. The Company adopted ASU 2016-13 in the first quarter of fiscal 2024. The adoption of the ASU 2016-13 resulted in an increase in the allowance for credit losses as a result of changing from an incurred loss model, which encompasses allowances for current known and inherent losses within the portfolio, to an expected loss model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. Upon adoption on July 1, 2023, the Company recorded an increase in the allowance for credit losses of $359,000 and decrease to retained earnings of $189,000. Subsequent to the adoption of ASU 2016-13, acquired loans are segregated between those purchased with credit deterioration (“PCD”) and those that are not (“non-PCD”). Loans considered PCD include those individual loans (or groups of loans with similar risk characteristics) that as of the date of acquisition are assessed as having experienced a more-than-insignificant deterioration in credit quality since origination. The assessment of what is more-than-insignificant credit deterioration since origination considers information including, but not limited to, financial assets that are delinquent, on nonaccrual and/or otherwise adversely risk rated as of the acquisition date, those that have been downgraded since origination, and those for which, after origination, credit spreads have widened beyond the threshold specified in policy. The Company bifurcates the fair value discount between the credit and noncredit components and records an allowance for credit losses for PCD loans by adding the credit portion of the fair value discount to the initial amortized cost basis and increasing the allowance for credit losses at the date of acquisition. Any noncredit discount or premium resulting from acquiring loans with credit deterioration is allocated to each individual asset. All non-PCD loans acquired are recorded at the estimated fair value of the loan at acquisition, with the estimated allowance for credit loss recorded as a provision for credit losses through earnings in the period in which the acquisition has occurred. The noncredit discount or premium for PCD loans and full discount for non-PCD loans will be accreted to interest income using the interest method based on the effective interest rate at the acquisition date. Under the transition provisions of ASU 2016-13, the Company classified all purchased credit impaired loans (“PCI”) previously accounted for under Financial Accounting Standard Subtopic 310-30 to be classified as PCD, without reassessing whether the financial assets meet the criteria of PCD as of the date of adoption. The application of these provisions resulted in an adjustment to the amortized cost basis of the financial asset to reflect the addition of the allowance for credit losses at the date of adoption. The Company elected not to maintain pools of loans accounted for under Subtopic 310-30 at adoption. The Company was also not required to reassess whether modifications to individual acquired financial assets accounted for in pools were troubled debt restructurings as of the date of adoption. The noncredit discount, after the adjustment for the allowance for credit losses, is accreted to interest income using the interest method based on the effective interest rate determined at the adoption date.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Recent Accounting Pronouncements (Continued)

encompasses allowances for current known and inherent losses within the portfolio, to an expected loss model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. Upon adoption on July 1, 2023, the Company recorded an increase in the allowance for credit losses of $359,000 and decrease to retained earnings of $189,000. Subsequent to the adoption of ASU 2016-13, acquired loans are segregated between those purchased with credit deterioration (“PCD”) and those that are not (“non-PCD”). Loans considered PCD include those individual loans (or groups of loans with similar risk characteristics) that as of the date of acquisition are assessed as having experienced a more-than-insignificant deterioration in credit quality since origination. The assessment of what is more-than-insignificant credit deterioration since origination considers information including, but not limited to, financial assets that are delinquent, on nonaccrual and/or otherwise adversely risk rated as of the acquisition date, those that have been downgraded since origination, and those for which, after origination, credit spreads have widened beyond the threshold specified in policy. The Company bifurcates the fair value discount between the credit and noncredit components and records an allowance for credit losses for PCD loans by adding the credit portion of the fair value discount to the initial amortized cost basis and increasing the allowance for credit losses at the date of acquisition. Any noncredit discount or premium resulting from acquiring loans with credit deterioration is allocated to each individual asset. All non-PCD loans acquired are recorded at the estimated fair value of the loan at acquisition, with the estimated allowance for credit loss recorded as a provision for credit losses through earnings in the period in which the acquisition has occurred. The noncredit discount or premium for PCD loans and full discount for non-PCD loans will be accreted to interest income using the interest method based on the effective interest rate at the acquisition date. Under the transition provisions of ASU 2016-13, the Company classified all purchased credit impaired loans (“PCI”) previously accounted for under Financial Accounting Standard Subtopic 310-30 to be classified as PCD, without reassessing whether the financial assets meet the criteria of PCD as of the date of adoption. The application of these provisions resulted in an adjustment to the amortized cost basis of the financial asset to reflect the addition of the allowance for credit losses at the date of adoption. The Company elected not to maintain pools of loans accounted for under Subtopic 310-30 at adoption. The Company was also not required to reassess whether modifications to individual acquired financial assets accounted for in pools were troubled debt restructurings as of the date of adoption. The noncredit discount, after the adjustment for the allowance for credit losses, is accreted to interest income using the interest method based on the effective interest rate determined at the adoption date.

Accounting Standards Update 2022-02 (“ASU 2022-02”), “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” In March 2022, the FASB issued ASU 2022-02 which eliminates the TDR recognition and measurement guidance and instead requires that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. ASU 2022-02 also enhances existing disclosure requirements and introduces new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. For public business entities, these amendments require that an entity disclose current period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 326-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. ASU 2022-02 is effective for the Company for annual and interim periods beginning on July 1, 2023. The adoption of ASU 2022-02 did not have a significant impact on the Company’s consolidated financial statements other than the required disclosures. The Company adopted ASU 2016-13 using the weighted average maturity method (WARM) for all financial assets measured at amortized cost, net of investments in leases and off balance sheet credit exposures. Results for reporting periods beginning after July 1, 2023 are presented under ASU 2016-13, while prior period results are reported in accordance with the previously applicable incurred loss methodology.

5654

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 1.

Summary of Significant Accounting Policies (Continued)

Recent Accounting Pronouncements (Continued)

FASB ASC Topic 280 “Segment Reporting: Improvements to Reportable Segments Disclosures” Update No. 2023-07 (“ASU 2023-07”). ASU 2023-07 became effective for the Company for the fiscal year ended June 30, 2025 and will be applied in interim periods beginning after June 30, 2025. ASU 2023-07 requires public entities to disclose the title and position of the entity’s CODM and an explanation of how the CODM utilizes the reported measures of profit or loss to assess segment performance and allocate resources, significant segment expenses, an amount and description for other segment items, and, on an interim basis, certain segment related disclosures that previously were required only on an annual basis. ASU 2023-07 also clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements and that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria are met. The adoption of ASU 2023-07 did not have a material impact on the Company’s consolidated financial statements.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Notes to Consolidated Financial Statements

Note 2.

Securities

The amortized cost and fair value of securities, with gross unrealized gains and losses at June 30, 2025, follows:

	June 30, 2024
	June 30, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
Securities Available-for-Sale	Cost		Gains		Losses		Value
	(In Thousands)
Debt Securities
FHLMC Mortgage-Backed Certificates	$	611,~~681~~038	$	120	$	~~732~~627	$	510,~~950~~431
FNMA Mortgage-Backed Certificates		1719,~~227~~180		-9		1,~~753~~228		1517,~~474~~961
GNMA Mortgage-Backed Certificates		46,~~074~~112		-47		~~827~~670		35,~~247~~489
Total Debt Securities		2736,~~982~~330		176		32,~~312~~525		2433,~~671~~881
US Treasury Securities		2,000		-		-		2,000
Municipal Bonds		365		-		-		365
Municipal Bonds		365		1		-		366
Total Securities Available-for-Sale	$	36,695	$	76	$	2,525	$	34,246
Total Securities Available-for-Sale	$	30,347	$	2	$	3,312	$	27,037
Securities Held-to-Maturity
Debt Securities
GNMA Mortgage-Backed Certificates	$	27,604	$	-	$	5,572	$	22,032
FHLMC Mortgage-Backed Certificates	$	25,201	$	-	$	4,372	$	20,829
FHLMC Mortgage-Backed Certificates		37,807		-		7,146		30,661
FNMA Mortgage-Backed Certificates		34,286		-		5,709		28,577
FNMA Mortgage-Backed Certificates		606		-		69		537
GNMA Mortgage-Backed Certificates		588		-		59		529
Total Debt Securities		6660,~~017~~075		-		1210,~~787~~140		5349,~~230~~935
Municipals		1,~~285~~259		-		6555		1,~~220~~204
Total Securities Held-to-Maturity	$	6761,~~302~~334	$	-	$	1210,~~852~~195	$	5451,~~450~~139

57The amortized cost and fair value of securities by contractual maturity at June 30, 2025, follows:

	Available-for-Sale				Held-to-Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In Thousands)
Debt Securities
One through Five Years	$	8	$	8	$	-	$	-
After Five through Ten Years		8,842		8,379		394		383
Over Ten Years		27,480		25,494		59,681		49,552
		36,330		33,881		60,075		49,935

Municipals
Within One Year or Less		365		365		205		202
After Five through Ten Years		-		-		1,054		1,002
		365		365		1,259		1,204

Total	$	36,695	$	34,246	$	61,334	$	51,139

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 2.

Securities (Continued)

The amortized cost and fair value of securities, with gross unrealized gains and losses at June 30, 2024, follows:

	June 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
Securities Available-for-Sale	Cost		Gains		Losses		Value
	(In Thousands)
Debt Securities
FHLMC Mortgage-Backed Certificates	$	6,681	$	1	$	732	$	5,950
FNMA Mortgage-Backed Certificates		17,227		-		1,753		15,474
GNMA Mortgage-Backed Certificates		4,074		-		827		3,247

Total Debt Securities		27,982		1		3,312		24,671

US Treasury Securities		2,000		-		-		2,000
Municipal Bonds		365		1		-		366

Total Securities Available-for-Sale	$	30,347	$	2	$	3,312	$	27,037

Securities Held-to-Maturity

Debt Securities
FHLMC Mortgage-Backed Certificates	$	27,604	$	-	$	5,572	$	22,032
FNMA Mortgage-Backed Certificates		37,807		-		7,146		30,661
GNMA Mortgage-Backed Certificates		606		-		69		537

Total Debt Securities		66,017		-		12,787		53,230

Municipals		1,285		-		65		1,220

Total Securities Held-to-Maturity	$	67,302	$	-	$	12,852	$	54,450

The amortized cost and fair value of securities by contractual maturity at June 30, 2024, follows:

	Available-for-Sale				Held-to-Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In Thousands)
Debt Securities
Within One Year or Less	$	-	$	-	$	-	$	-
One through Five Years		4		4		-		-
After Five through Ten Years		2,237		2,148		525		495
Over Ten Years		25,741		22,519		65,492		52,735
		27,982		24,671		66,017		53,230
US Treasury Securities
Within One Year or Less		2,000		2,000		-		-
		2,000		2,000		-		-
One through Five Years		2,000		2,000		-		-
Municipals
One through Five Years		365		366		213		205
Within One Year or Less		365		366		213		205
Over Ten Years		-		-		1,072		1,015
		365		366		1,285		1,220
Total	$	30,347	$	27,037	$	67,302	$	54,450

5857

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 2.

Securities (Continued)

~~The~~Information ~~amortized~~pertaining ~~cost~~to ~~and~~securities ~~fair~~with ~~value~~gross ofunrealized ~~securities~~losses at June 30, ~~with~~2025, ~~gross~~aggregated ~~unrealized~~by ~~gains~~investment category and ~~losses~~length of time that individual securities have been in a continuous loss position, follows:

	June 30, 2023
	June 30, 2025
			Gross		Gross
	Less Than Twelve Months				Over Twelve Months
	Amortized		Unrealized		Unrealized		Fair
	Gross				Gross
Securities Available-for-Sale	Cost		Gains		Losses		Value
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Debt Securities
Securities Available-for-Sale
FHLMC Mortgage-Backed Certificates	$	12,167	$	1	$	1,012	$	11,156
Mortgage-Backed Securities	$	226	$	8,499	$	2,299	$	17,879
FNMA Mortgage-Backed Certificates		15,318		-		1,604		13,714
Total Securities Available-for-Sale	$	226	$	8,499	$	2,299	$	17,879
GNMA Mortgage-Backed Certificates		4,578		-		814		3,764
Total Debt Securities		32,063		1		3,430		28,634
US Treasury Securities		9,779		68		6		9,841
Municipal Bonds		1,068		11		3		1,076
Total Securities Available-for-Sale	$	42,910	$	80	$	3,439	$	39,551
Securities Held-to-Maturity
Debt Securities
GNMA Mortgage-Backed Certificates	$	623	$	-	$	63	$	560
FHLMC Mortgage-Backed Certificates		29,921		-		5,781		24,140
FNMA Mortgage-Backed Certificates		41,024		-		7,277		33,747
Total Debt Securities		71,568		-		13,121		58,447
Municipals		1,311		-		80		1,231
Total Securities Held-to-Maturity	$	72,879	$	-	$	13,201	$	59,678

	June 30, 2025
	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Securities Held-to-Maturity

Mortgage-Backed Securities	$	-	$	-	$	10,140	$	49,935
Municipals		-		-		55		1,204

Total Securities Held-to-Maturity	$	-	$	-	$	10,195	$	51,139

Information ~~Table~~pertaining to securities with gross unrealized losses at June 30, 2024, aggregated by investment category and length of ~~Contents~~time that individual securities have been in a continuous loss position, follows:

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 2. Securities (Continued)

The amortized cost and fair value of securities by contractual maturity at June 30, 2023, follows:

	Available-for-Sale				Held-to-Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In Thousands)
Debt Securities
Within One Year or Less	$	-	$	-	$	-	$	-
One through Five Years		1		1		-		-
After Five through Ten Years		1,861		1,771		-		-
Over Ten Years		30,201		26,862		71,568		58,447
		32,063		28,634		71,568		58,447
US Treasury Securities
Within One Year or Less		7,780		7,847		-		-
One through Five Years		1,999		1,994		-		-
		9,779		9,841		-		-
Municipals
Within One Year or Less		-		-		221		210
Over Ten Years		1,068		1,076		1,090		1,021
		1,068		1,076		1,311		1,231
Total	$	42,910	$	39,551	$	72,879	$	59,678

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 2. Securities (Continued)

Information pertaining to securities with gross unrealized losses at June 30, 2024 and 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

	June 30, 2024
	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Securities Available-for-Sale

Mortgage-Backed Securities	$	-	$	-	$	3,312	$	24,332

Total Securities Available-for-Sale	$	-	$	-	$	3,312	$	24,332

	June 30, 2024
	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Securities Held-to-Maturity

Mortgage-Backed Securities	$	-	$	-	$	12,787	$	53,230
Municipals		-		-		65		1,220

Total Securities Held-to-Maturity	$	-	$	-	$	12,852	$	54,450

	June 30, 2023
	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Securities Available-for-Sale
Mortgage-Backed Securities	$	618	$	9,109	$	2,811	$	18,892
Municipals		3		561		-		-
US Treasury Securities		8		2,186		-		-
Total Securities Available-for-Sale	$	629	$	11,856	$	2,811	$	18,892

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 2.

Securities (Continued)

	June 30, 2023
	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In Thousands)
Securities Held-to-Maturity
Mortgage-Backed Securities	$	215	$	1,859	$	12,907	$	56,587
Municipals		-		-		80		1,231
Total Securities Held-to-Maturity	$	215	$	1,859	$	12,987	$	57,818

At June 30, 2025, the Company’s security portfolio consisted of 74 securities, 53 of which were in an unrealized loss position. At June 30, 2024, the Company’s security portfolio consisted of 78 securities, 59 of which were in an unrealized loss position. The unrealized losses on the Company’s investment in mortgage-backed securities at June 30, 2025 and 2024 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly, it is expected that these securities would not be settled at a price less than the amortized cost of the Company’s investment. Because the decline in market value is attributable to changes in interest rates and not credit quality and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2025.

At June 30, ~~2024,~~2025 the Company’s security portfolio consisted of 78 securities, 59 of which were in an unrealized loss position. At June 30, 2023, the Company’s security portfolio consisted of 82 securities, 71 of which were in an unrealized loss position. The unrealized losses on the Company’s investment in mortgage-backed securities at June 30, 2024 and ~~2023 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly~~2024, ~~it is expected that these~~ securities ~~would~~with ~~not be settled at~~ a ~~price~~carrying ~~less~~value ~~than the amortized cost~~ of ~~the Company’s investment~~$24. ~~Because~~5 ~~the~~million ~~decline in market value is attributable to changes in interest rates~~ and ~~not~~$1.4 ~~credit~~million, ~~quality~~respectively, ~~and~~were ~~because~~pledged ~~the Company has the ability and intent~~ to ~~hold these investments until a recovery of fair value, which~~secure ~~may~~certain bedeposits, ~~maturity~~borrowings, ~~the~~and ~~Company does not consider these investments to be~~ other~~-than-temporarily~~ ~~impaired at June 30, 2024~~liabilities.

At June 30, 2024 and 2023, securities with a carrying value of $1.4 million and $10.7 million, respectively, were pledged to secure public deposits, and securities and mortgage loans with a carrying value of $231.2 million and $212.2 million, respectively, were pledged to secure FHLB advances.

Note 3.

Loans Receivable

Loans receivable at June 30, ~~2024~~2025 and ~~2023~~2024, are summarized as follows:

	2024			2023
	2025			2024
	(In Thousands)
Loans Secured by Mortgages on Real Estate
One-to-Four Family Residential	$	~~178~~174,~~347~~978		$	~~179~~178,~~579~~347
Commercial		~~143~~138,~~460~~920			~~148~~143,~~441~~460
Multi-Family Residential		3732,~~092~~283			2837,~~849~~092
Land		30,~~737~~054			2630,~~841~~737
Construction		1511,~~704~~226			2815,~~035~~704
Equity and Second Mortgage		2,~~634~~520			2,~~450~~634
Equity Lines of Credit		1720,~~046~~354			2317,~~817~~046
Total Mortgage Loans		~~425~~410,~~020~~335			~~438~~425,~~012~~020
Commercial Loans		4954,~~256~~138			5549,~~364~~256
Consumer Loans
Loans on Savings Accounts		~~393~~381			~~372~~393
Other Consumer Loans		~~855~~739			~~1,082~~855
Total Consumer Other Loans		1,~~248~~120			1,~~454~~248
Total Loans		~~475~~465,~~524~~593			~~494~~475,~~830~~524
Less: Allowance for Credit Losses		(4,~~574~~484	)		(54,~~173~~574	)
Unamortized Loan Fees		(98105	)		(~~164~~98	)
Net Loans Receivable	$	~~470~~461,~~852~~004		$	~~489~~470,~~493~~852

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Statements

Note 3. Loans Receivable (Continued)

Credit Quality Indicators

The Company segregates loans into risk categories based on the pertinent information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans according to credit risk. Loans classified as substandard or identified as special mention are reviewed quarterly by management to evaluate the level of deterioration, improvement, and impairment, if any, as well as assign the appropriate risk category.

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Notes to Consolidated Financial Statements

Note 3.

Loans Receivable (Continued)

Credit Quality Indicators (Continued)

Loans excluded from the scope of the quarterly review process above are generally identified as pass credits until: (a) they become past due; (b) management becomes aware of a deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification and the need to allocate reserves or charge-off.

The Company uses the following definitions for risk ratings:

Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less cost to acquire and sell the underlying collateral in a timely manner.

Pass Watch – Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral and are still considered a pass.

Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

6360

Table of Contents

HOME FEDERAL BANCORP, INC. OF LOUISIANA ~~AND SUBSIDIARY~~ Notes to Consolidated Financial Statements

Note 3.

Loans Receivable (Continued)

Credit Quality Indicators (Continued)

The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination year, as of June 30, 2025:

	Term Loans Amortized Cost by Origination Year
As of June 30, 2025	2025		2024		2023		2022		2021		Prior		Revolving Lines		Total
	(In Thousands)
One-to-four family residential
Risk rating
Pass	$	12,456	$	20,344	$	40,116	$	35,296	$	30,282	$	28,952	$	-	$	167,446
Pass and Watch		1,072		1,358		1,088		1,379		257		629		-		5,783
Special mention		-		40		-		-		379		314		-		733
Substandard		-		-		268		252		496		-		-		1,016
Total one-to-four family residential	$	13,528	$	21,742	$	41,472	$	36,927	$	31,414	$	29,895	$	-	$	174,978
Current period gross charge-offs	$	-	$	-	$	34	$	-	$	-	$	-	$	-	$	34

Commercial
Risk rating
Pass	$	21,880	$	12,736	$	17,394	$	32,791	$	36,221	$	13,823	$	-	$	134,845
Pass and Watch		114		2,488		98		408		-		-		-		3,108
Substandard		-		-		-		19		948		-		-		967
Total commercial	$	21,994	$	15,224	$	17,492	$	33,218	$	37,169	$	13,823	$	-	$	138,920
Current period gross charge-offs	$	-	$	-	$	154	$	-	$	90	$	-	$	-	$	244

Multi-family residential
Risk rating
Pass	$	498	$	6,854	$	1,969	$	4,871	$	942	$	15,942	$	-	$	31,076
Pass and Watch		1,207		-		-		-		-		-		-		1,207
Total multi-family residential	$	1,705	$	6,854	$	1,969	$	4,871	$	942	$	15,942	$	-	$	32,283
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Land
Risk rating

Filing Compare · Home Federal Bancorp, Inc. of Louisiana