SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
Filed Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 and Rule 13a-176
or 15d-17 thereunder
HMN FINANCIAL, INC.
101 NORTH BROADWAY, SPRING VALLEY, MN 55975
507-346-7345
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the
number of shares outstanding:
1. Title of security HMN Financial, Inc. Common Stock
2. Number of shares outstanding before the change 4,441,383
3. Number of shares outstanding after the change 4,209,826
4. Effective date of change January 28, 1997
5. Method of change
Specify method (such as merger, acquisition, exchange, distribution,
stock split, reverse split, acquisition of stock for treasury, etc.)
Acquisition of stock for treasury
Give brief description of transaction Open market purchase
II. CHANGE IN NAME OF ISSUER
1. Name prior to change
2. Name after change
3. Effective date of charter amendment changing name
4. Date of shareholder approval of change, if required
Date: January 28, 1997 /s/ James B. Gardner
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James B. Gardner
Executive Vice President
