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)
February 23, 1998
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) 346-1100
N/A
_________________________________________________________________
(Former name or former address, if changed since last report)
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Item 5. Other Events
On February 23, 1998 the Registrant issued the attached press release
announcing the intent to institute a 3-for-2 stock split subject to
stockholder approval of an increase in authorized shares.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press release, dated February 23, 1998.
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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: February 23, 1998 By: /s/ Roger P. Weise
---------------------------
Roger P. Weise, Chairman
and Chief Executive Officer
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[graphic of open winged eagle]
HMN Financial, Inc.
101 North Broadway
Spring Valley, Minnesota 55975
Phone 507-346-1100
Fax 507-346-1151
NEWS RELEASE
For Immediate Release Contact: James B. Gardner
Executive Vice President
HMN Financial, Inc.
(507) 346-1100
HMN FINANCIAL, INC. ANNOUNCES INTENT TO INSTITUTE A 3-FOR-2 STOCK
- -----------------------------------------------------------------
SPLIT SUBJECT TO STOCKHOLDER APPROVAL OF INCREASE IN
----------------------------------------------------
AUTHORIZED SHARES
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SPRING VALLEY, MINNESOTA, February 23, 1998... HMN Financial,
Inc. ("HMN")(NASDAQ:HMNF) announced that its Board of Directors voted to
request stockholder approval at the annual meeting of stockholders to be
held on April 28, 1998 of an increase in HMN's authorized common stock from 7.0
million shares to 11.0 million shares. Subject to stockholder approval of
the increase, the Board has authorized a three-for-two stock split of
its common stock, to be effected in the form of a fifty percent stock
dividend. The record date and distribution date for such dividend are
expected to be set by the Board immediately following the annual
stockholders' meeting.
HMN Financial, Inc. and Home Federal Savings Bank are
headquartered in Spring Valley, MN. The Bank operates seven offices in southern
Minnesota and three in Iowa. HMN Mortgage Services, Inc., a subsidiary of HMN
Financial, Inc. operates mortgage banking facilities in Eden Prairie and
Brooklyn Park, MN.
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