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HMNF > SEC Filings for HMNF > Form 8-K on 14-Apr-2014All Recent SEC Filings

Show all filings for HMN FINANCIAL INC



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.

On April 11, 2014, HMN Financial, Inc. (the "Company") announced that its Board of Directors declared a dividend of $201.71 per share on the Company's outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Preferred Stock"), which were originally issued by HMN to the U.S. Treasury through the Capital Purchase Program established under the Troubled Asset Relief Program. The amount of the dividend represents all accrued and unpaid dividends on the Preferred Stock for all past dividend periods and for the dividend period ending on May 14, 2014. The dividend will be payable on May 15, 2014 to holders of record of the Preferred Stock on April 9, 2014.

Also on April 11, 2014, the Company announced that it will redeem 10,000 shares of the Preferred Stock on a pro rata basis from holders of record of the Preferred Stock on April 9, 2014. The effective date of the redemption will be May 15, 2014. Giving effect to the dividend to be paid on the same date, the redemption price per share will be $1,000. Following the redemption, 16,000 shares of Preferred Stock will remain outstanding.

The Company has requested and received all applicable approvals from regulatory authorities to pay the Preferred Stock dividend and effect the Preferred Stock redemption.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description
99.1 Press Release dated April 11, 2014.

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