Executive Summary
Home Federal Bancorp Inc of Louisiana (HFBL) reported Q3 2024 results with a modest bottom-line amid revenue headwinds and an outsized investment portfolio. Revenue for the quarter stood at $4.899 million with net income of $0.732 million and diluted earnings per share of $0.24. Year-over-year (YoY) revenue declined by 17.6% and quarter-over-quarter (QoQ) revenue declined by 40.1%, while net income declined ~31.1% YoY and ~27.0% QoQ, reflecting a tougher operating environment for smaller regional banks and ongoing margin compression. Operating income was $0.908 million (operating margin 18.5%), leaving net income margin at 14.9% for the quarter. The company generated operating cash flow of $0.65 million, but free cash flow was negative by approximately $0.142 million due to capex and working capital dynamics. HFBL entered the quarter with a sizable balance sheet anchored by a large securities portfolio (long-term investments of about $571.5 million) and total investments around $601.3 million, against total assets of $643.0 million and stockholders' equity of about $52.6 million, yielding a return on assets of ~0.11% and return on equity of ~1.39% (as of the quarter end). Liquidity remains robust, with cash and cash equivalents of $8.02 million and substantial short-term investments, supporting a current ratio reported at 21.9x (noting that the presented current/liability composition appears unusual for a bank balance sheet in this dataset). Management commentary is not provided in the dataset, limiting insight into near-term strategy, loan growth plans, or funding strategy beyond the disclosed numbers. Investors should monitor trajectory in net interest income, loan growth, deposit trends, and the sustainability of the investment portfolio in a rising-rate environment.
Key Performance Indicators
QoQ: -40.15% | YoY:-17.62%
QoQ: 12.52% | YoY:-33.53%
QoQ: -27.02% | YoY:-31.07%
QoQ: -27.27% | YoY:-31.43%
Key Insights
Revenue: $4.899M (YoY -17.6%, QoQ -40.1%)
Gross Profit: $4.868M (QoQ -3.11%, YoY not disclosed)
Operating Income: $0.908M (YoY -33.53%, QoQ +12.52%)
Net Income: $0.732M (YoY -31.07%, QoQ -27.02%)
EPS: $0.24 (YoY -31.43%, QoQ -27.27%)
Gross Margin: 99.37%
Operating Margin: 18.53%
Net Margin: 14.94%
EBITDA: $1.222M; EBITDARatio: 0.2494
Interest Expense: $3.486M; Depreciation & Amortization: $0.314M
Weighted Average Shares (Basic): 3.050M; Weighted Average Shares (Diluted): 3.091M
Cash Flow fro...
Financial Highlights
Revenue: $4.899M (YoY -17.6%, QoQ -40.1%)
Gross Profit: $4.868M (QoQ -3.11%, YoY not disclosed)
Operating Income: $0.908M (YoY -33.53%, QoQ +12.52%)
Net Income: $0.732M (YoY -31.07%, QoQ -27.02%)
EPS: $0.24 (YoY -31.43%, QoQ -27.27%)
Gross Margin: 99.37%
Operating Margin: 18.53%
Net Margin: 14.94%
EBITDA: $1.222M; EBITDARatio: 0.2494
Interest Expense: $3.486M; Depreciation & Amortization: $0.314M
Weighted Average Shares (Basic): 3.050M; Weighted Average Shares (Diluted): 3.091M
Cash Flow from Operations: $0.65M; Free Cash Flow: -$0.142M
Capex: $-0.792M; Cash at End of Period: $8.019M
Total Assets: $643.026M; Total Liabilities: $590.476M; Total Stockholders’ Equity: $52.551M
Long-Term Debt: $8.50M; Debt Ratio: 1.32%; Debt to Capitalization: 13.9%
Current Ratio: 21.91; Quick Ratio: 21.91; Cash Ratio: 4.42
Dividend Payout Ratio: 53.7%; Dividend Yield: 1.04%
P/BV: 0.717; P/Sales: 7.69; P/E: 12.86
Return on Assets (ROA): 0.11%; Return on Equity (ROE): 1.39%; ROCE: 0.14%
Asset Turnover: 0.0076; Receivables Turnover: 2.54; Equity Multiplier: 12.24
Net Debt: $0.481M; Cash Flow to Debt: 0.0765
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
4.90M |
-17.62% |
-40.15% |
| Gross Profit |
4.87M |
N/A |
-3.11% |
| Operating Income |
908.00K |
-33.53% |
12.52% |
| Net Income |
732.00K |
-31.07% |
-27.02% |
| EPS |
0.24 |
-31.43% |
-27.27% |
Key Financial Ratios
operatingProfitMargin
18.5%
operatingCashFlowPerShare
$0.21
freeCashFlowPerShare
$-0.09
dividendPayoutRatio
53.7%
Management Commentary
Notes: The earnings transcript for HFBL QQ3 2024 is not provided in the dataset. As a result, there are no management quotes or thematic highlights to extract. When available, include themes such as strategy execution, cost controls, loan growth, funding strategy, and macro commentary with context on implications for investors.
Forward Guidance
No formal forward-looking guidance is provided within the data. Given the absence of an earnings call transcript, forward-looking assessment relies on industry dynamics and the reported metrics. Near-term drivers for HFBL include: (1) net interest income sensitivity to interest rate movements and the yield on the large securities portfolio, (2) loan origination and mix (residential, commercial real estate, consumer loans), (3) deposit funding stability and cost of funds, (4) credit quality and reserve release/no reserve impact, and (5) balance sheet repositioning given a sizable investment portfolio. Based on current profitability (ROA ~0.11%, ROE ~1.39%) and a substantial investment footprint, the trajectory will hinge on either loan growth or higher yields on investments. If rate rises persist or stabilize at higher levels, NII could improve, provided loan demand strengthens and funding costs remain contained. Investors should monitor quarterly loan growth, deposit dynamics, and the performance of the investment portfolio, along with any management commentary on strategic initiatives or capital return plans.