921183--3/4/2008--HMN_FINANCIAL_INC

related topics
{loan, real, estate}
{regulation, change, law}
{condition, economic, financial}
{capital, credit, financial}
{competitive, industry, competition}
The Company has increased its commercial real estate loan originations, increasing the risk in its loan portfolio. Changes in interest rates or prepayment speeds could negatively impact the value of capitalized mortgage servicing rights. Declines in home values could decrease our loan originations and increase delinquencies and defaults. Regional economic changes in the Company s markets could adversely impact results from operations. New or revised tax, accounting and other laws, regulations, rules and standards could significantly impact strategic initiatives, results of operations and financial condition. The extended disruption of vital infrastructure could negatively impact the Company s results of operations and financial condition. Strong competition within the Company s market area may limit profitability. Loss of large checking and money market deposit customers could increase cost of funds and have a negative effect on results of operations. Because of the limited size of the Company, losses on a few large loans or lending relationships can cause significant volatility in earnings. We are subject to the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to material penalties. The USA Patriot Act and Bank Secrecy Act may subject us to large fines for non-compliance.

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