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News : HopFed Bancorp, Inc.

 



HOPFED BANCORP, INC. REPORTS SECOND QUARTER RESULTS
(Click here to read the full press release)

HOPKINSVILLE, Ky. (July 29, 2016) – HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”), the holding company for Heritage Bank USA, Inc. (the “Bank”), today reported results for the three and six month periods ended June 30, 2016.  For the three month period ended June 30, 2016, the Company reported net income of $304,000, or $0.05 per share, basic and diluted, compared to a net loss of $117,000, or ($0.02) per share basic and diluted, for the three month period ended June 30, 2015. For the six month period ended June 30, 2016, the Company’s net income was $813,000, or $0.13 per share, basic and diluted, compared to net income of $1.2 million, or $0.19 per share basic and diluted, for the six month period ended June 30, 2015.

Commenting on the second quarter results, John E. Peck, President and Chief Executive Officer, said, “The Company’s mortgage service division continues to find success in growing their business relationships. For the six month period ended June 30, 2016, mortgage origination revenue was $803,000, as compared to $520,000 in the six month period ended June 30, 2015. We look forward to adding a Nashville, Tennessee, location for Heritage Mortgage Services in the near future.”

Mr. Peck continued, “The Company’s operating results were negatively impacted by an increase in non-accrual loans.  At June 30, 2016, Company’s non-accrual loans totaled $11.5 million and our non-accrual interest was approximately $515,000.  At March 31, 2016, non-accrual loans totaled $5.0 million and non-accrual interest was approximately $285,000.” Mr. Peck concluded.

(Click here to read the full press release)

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