SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
June 30, 1997
HMN FINANCIAL, INC.
(Exact name of Registrant as specified in its Charter)
DELAWARE 0-24100 41-1777397
(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
101 NORTH BROADWAY, SPRING VALLEY, MINNESOTA 55975
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (507) 346-7345
N/A
_________________________________________________________________
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On June 30, 1997 the Registrant issued the press release
attached as Exhibit 99 announcing a stock repurchase program.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press release, dated June 30, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned thereunto duly authorized.
HMN FINANCIAL, INC.
Date: June 30, 1997 By:/s/ Roger P. Weise
-------------------------
Roger P. Weise, Chairman
and Chief Executive Officer
<PAGE>
Exhibit 99
[logo of open-winged eagle]
HMN Financial, Inc.
101 North Broadway
Spring Valley, MN 55975
Phone 507-346-7345
Fax 507-346-1111
NEWS RELEASE
For Immediate Release
For Additional Information Contact:
James B. Gardner, Executive Vice President
HMN Financial, Inc.
(507) 346-7345
HMN FINANCIAL, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
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SPRING VALLEY, MINNESOTA, June 30, 1997 ... HMN Financial,
Inc., (HMN) (NASDAQ:HMNF) announced its intention starting in
July to repurchase up to 7.1%, or 300,000 shares, of its
outstanding shares in the open market over the next 12 month
period. The shares will be purchased at prevailing market prices
from time to time, depending upon market conditions.
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