HopFed Bancorp Inc. (HFBC, Financial) filed Quarterly Report for the period ended 2010-06-30.
Hopfed Bancorp Inc. has a market cap of $33.7 million; its shares were traded at around $9.37 with a P/E ratio of 5.9 and P/S ratio of 0.5. The dividend yield of Hopfed Bancorp Inc. stocks is 5.1%. Hopfed Bancorp Inc. had an annual average earning growth of 14.6% over the past 10 years. GuruFocus rated Hopfed Bancorp Inc. the business predictability rank of 4.5-star.HFBC is in the portfolios of Chuck Royce of Royce& Associates.
The Company did not have any federal funds sold at June 30, 2010 and December 31, 2009. The Company has chosen to maintain additional cash balances in non-interest bearing demand deposit accounts due to both the very low earnings rate on overnight funds as well as the unlimited FDIC coverage available on non-interest demand deposit accounts. The Companys holdings of Federal Home Loan Bank of Cincinnati (FHLB) stock, at cost was $4.3 million at December 31, 2009 and $4.4 million at June 30, 2010. Total FHLB borrowings declined $13.9 million, from $102.5 million at December 31, 2009 to $88.6 million at June 30, 2010. Total repurchase balances increased from $36.1 million at December 31, 2009 to $41.1 million at June 30, 2010.
Loan portfolio growth was negative during the six month period ended June 30, 2010. Net loans totaled $627.9 million and $642.4 million at June 30, 2010 and December 31, 2009, respectively. Loan demand is weak for consumer, agricultural and commercial loan products.
A loan is considered to be impaired when management determines that it is possible that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments using the fair value of the collateral if the loan is collateral dependent. At June 30, 2010, December 31, 2009 and June 30, 2009 the Companys impaired loans totaled $36.1 million, $35.5 million and $24.9 million, respectively. At June 30, 2010, December 31, 2009, and June 30, 2009, the Companys reserve for impaired loans totaled $2.4 million, $2.5 million and $1.3 million, respectively.
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Hopfed Bancorp Inc. has a market cap of $33.7 million; its shares were traded at around $9.37 with a P/E ratio of 5.9 and P/S ratio of 0.5. The dividend yield of Hopfed Bancorp Inc. stocks is 5.1%. Hopfed Bancorp Inc. had an annual average earning growth of 14.6% over the past 10 years. GuruFocus rated Hopfed Bancorp Inc. the business predictability rank of 4.5-star.HFBC is in the portfolios of Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Total assets increased from $1.03 billion at December 31, 2009 to $1.11 billion at June 30, 2010. Securities available for sale increased from $289.7 million at December 31, 2009 to $368.9 million at June 30, 2010. At June 30, 2010 and December 31, 2009, securities classified as available for sale had an amortized book value of $357.9 million and $284.3 million, respectively.The Company did not have any federal funds sold at June 30, 2010 and December 31, 2009. The Company has chosen to maintain additional cash balances in non-interest bearing demand deposit accounts due to both the very low earnings rate on overnight funds as well as the unlimited FDIC coverage available on non-interest demand deposit accounts. The Companys holdings of Federal Home Loan Bank of Cincinnati (FHLB) stock, at cost was $4.3 million at December 31, 2009 and $4.4 million at June 30, 2010. Total FHLB borrowings declined $13.9 million, from $102.5 million at December 31, 2009 to $88.6 million at June 30, 2010. Total repurchase balances increased from $36.1 million at December 31, 2009 to $41.1 million at June 30, 2010.
Loan portfolio growth was negative during the six month period ended June 30, 2010. Net loans totaled $627.9 million and $642.4 million at June 30, 2010 and December 31, 2009, respectively. Loan demand is weak for consumer, agricultural and commercial loan products.
A loan is considered to be impaired when management determines that it is possible that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments using the fair value of the collateral if the loan is collateral dependent. At June 30, 2010, December 31, 2009 and June 30, 2009 the Companys impaired loans totaled $36.1 million, $35.5 million and $24.9 million, respectively. At June 30, 2010, December 31, 2009, and June 30, 2009, the Companys reserve for impaired loans totaled $2.4 million, $2.5 million and $1.3 million, respectively.
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