HMN Financial reports Q2 EPS 22c vs. 32c last year

Reports Q2 NII $7.5M vs. $7.7M last year. Reports Q2 net interest margin 2.70% vs. 2.90% last year. “Maintaining our net interest margin continues to be a challenge in the current interest rate environment as our funding costs continue to increase at a faster rate than the yields earned on our earning assets,” said Bradley Krehbiel, President and Chief Executive Officer of HMN. “We are, however, encouraged by the increase in our net interest margin from the prior quarter and will continue to focus our effort on increasing our net interest margin further by expanding our core customer deposit relationships.”