HMN Financial Inc
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Financials : Thrifts & Mortgage Finance | Small Cap Value
Company profile

HMN Financial, Inc. (HMN) is a stock savings bank holding company that owns Home Federal Savings Bank (the Bank). The Bank operates retail banking and loan production facilities in Minnesota, Iowa and Wisconsin. The Bank has two subsidiaries, Osterud Insurance Agency, Inc., which offers financial planning products and services, and HFSB Property Holdings, LLC, which acts as an intermediary for the Bank in holding and operating certain foreclosed properties. HMN's business involves attracting deposits from the general public and businesses and using such deposits to originate or purchase one- to four-family residential, commercial real estate and multi-family mortgage loans, among others. HMN invests in mortgage-backed and related securities, the United States government agency obligations and other permissible investments. HMN serves the southern Minnesota counties of Dodge, Fillmore, Freeborn, Houston, Mower, Olmsted and Winona, and portions of Steele, Goodhue and Wabasha.

Closing Price
Day's Change
0.10 (0.75%)
B/A Size
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JetBlue credit rating cut further into 'junk' territory at S&P

2:24 pm ET June 11, 2020 (MarketWatch)

JetBlue Airways Corp.'s (JBLU) credit rating was downgraded Thursday further into "junk" territory at S&P Global Ratings, which cited an expected "substantial cash flow deficit" in 2020 as the COVID-19 pandemic has resulted in a steep decline in airline traffic. The rating was cut to B+, which is now four notches deep into speculative-grade ratings class. The outlook is negative, which warns of possible further downgrades. "While the company is reducing capacity and some associated costs, and benefits from the steep decline in oil prices, we expect these to continue to be more than offset by much weaker traffic levels," S&P said. JetBlue's stock tumbled 10.2% in afternoon trading, while the Dow Transportation Average dropped 6.3% and the Dow Jones Industrial Average slumped 1,513 points, or 5.6%. Of the Dow transports's six airline components, JetBlue is now the fifth-lowest rated at S&P, the lowest being American Airlines Group Inc. (AAL) at B-. The only air carrier rated investment grade, which is BBB- or higher, is Southwest Airlines Co. (LUV), at BBB. The next highest ratings are Delta Air Lines Inc. (DAL) at BB, United Airlines Holdings Inc. (UAL) at BB- and Alaska Air Group Inc. (ALK) at BB-.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

June 11, 2020 14:24 ET (18:24 GMT)

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