The information set forth under Item 2.03 of this Current Report on Form 8-K is hereby incorporated in this Item 1.01 by reference.

On September 30, 2009, HF Financial Corp. (the "Company") entered into a Loan Agreement (the "Loan Agreement") with United Bankers' Bank (the "Lender") in order to refinance its outstanding borrowings of $5.966 million under its line of credit with First Tennessee Bank, NA (the "FTB Line of Credit"). The Company's borrowings under the FTB Line of Credit were scheduled to mature on September 30, 2009.

Under the Loan Agreement, the Lender committed to lend to the Company an aggregate principal amount not to exceed $6 million. As of October 1, 2009, the Company had borrowed $6.0 million under the Loan Agreement. The loan is evidenced by a promissory note (the "Promissory Note," and together with the Loan Agreement, the "UBB Loan Agreement"), accrues interest at the United Bankers' Bank Rate with a minimum interest rate of 4.75% per annum, and the principal balance (plus any accrued and unpaid interest) is due and payable in full on October 1, 2010. The Company is required to make interest payments on a quarterly basis, commencing December 31, 2009. As of September 30, 2009, the United Bankers' Bank Rate was 3.250%.

The UBB Loan Agreement contains various covenants, limitations, and events of default customary for loans of this type for similar borrowers. Upon the occurrence of certain events of default, the Lender may declare outstanding amounts, with interest thereon, immediately due and payable. In connection with entering into the UBB Loan Agreement, the Company also entered into a Commercial Pledge Agreement with the Lender, granting the Lender a first security interest in all of the stock of Home Federal Bank, a wholly-owned subsidiary and the primary operating entity of the Company.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Loan Agreement, Promissory Note and Commercial Pledge Agreement, each dated September 30, 2009, by and between the Company and the Lender, filed as Exhibits 10.1, 10.2, and 10.3, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

(d) Exhibits.

10.1 Loan Agreement, dated September 30, 2009, by and between the Company and United Bankers' Bank

10.2             Promissory Note, dated September 30, 2009, payable to United
Bankers' Bank

10.3             Commercial Pledge Agreement, dated September 30, 2009, by and