Summary of HF FINANCIAL CORP

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obli

ITEM 2.03 Creation of a Direct Financial Obligation or an
Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

HF Financial Corp. (the "Company") entered into a Commitment Letter/Letter Agreement on May 15, 2009 with FTN Financial Group (the "Lender") which renews the Company's existing $6,000,000 line of credit from the Lender. In the event the Company draws on the line of credit it will pay interest at the FTB Base Rate minus one-quarter percent, with a minimum interest rate of 4.0%. The line of credit expires on September 30, 2009. The Lender's obligation to fund the line of credit is subject to there occurring no material adverse change at the Company prior to the date of funding. Funding under the line of credit will be subject to certain other terms and conditions set forth in the Commitment Letter/Letter Agreement. The line of credit is subject to certain events of default set forth in the Commitment Letter/Letter Agreement, upon the occurrence of which the Lender may declare outstanding amounts, with interest thereon, immediately due and payable.

As of May 21, 2009, there are no direct borrowings outstanding under the line of credit.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Commitment Letter/Letter Agreement, effective as of May 15, 2009, by and between the Company and the Lender filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Commitment Letter/Letter Agreement, effective May 15, 2009, by and between the Company and FTN Financial Group.