UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report: January 15,
2009
Home
Federal Bancorp, Inc.
(Exact
name of registrant as specified in its charter)
| Maryland | 000-52995 | 68-0666697 |
| (State or other jurisdiction | (Commission File | (I.R.S. Employer |
| of incorporation) | Number) | Identification No.) |
500
12th
Avenue South
Nampa,
Idaho 83651
(Address
of principal executive offices and zip code)
(208)
466-4634
(Registrant’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions.
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01. Other Events.
On
January 15, 2009, Home Federal Bancorp, Inc. (the “Company”) issued a press
release announcing its preliminary results for the first quarter of its fiscal
year ended September 30, 2009. The Company plans to release its
results of operations for the quarter ended December 31, 2008 after the market
closes on January 30, 2009. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial
Statements and Exhibits
(d) Exhibits
99.1 Press
release dated January 15, 2009
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
| HOME FEDERAL BANCORP, INC. | |
| Date: January 15, 2009 | By:/s/ Eric Nadeau |
| Eric Nadeau | |
| Executive Vice President | |
| and Chief Financial Officer |
Exhibit 99.1
Press
release dated January 15, 2009
 500
12th
Ave. South * Nampa, ID 83651
|
Contact:
Home
Federal Bancorp, Inc.
Len
E. Williams, President & CEO
Eric
S. Nadeau, EVP, Treasurer & CFO
208-466-4634
www.myhomefed.com
|
HOME
FEDERAL BANCORP, INC.
ANNOUNCES
PRELIMINARY FIRST QUARTER RESULTS
Nampa, ID (January 15, 2009) –
Home Federal Bancorp, Inc. (the “Company”) (Nasdaq: HOME), the parent company of
Home Federal Bank (the “Bank”), today announced preliminary results for the
Company’s first quarter operations, which ended December 31,
2008. The Company plans to release its results of operations for the
quarter ended December 31, 2008, after the market closes on January 30, 2009.
The following provides management's estimates in certain areas given the current
economic environment and conditions based upon information known to date. Actual
results may differ from these estimates since management has not completed all
quarterly analyses and procedures required under the Company’s financial
reporting processes for preparing quarterly financial statements.
The
Company currently anticipates a net loss for the quarter ended December 31,
2008, of ($801,000), or ($0.05) per share, due to a pre-tax provision for loan
losses of $3.6 million. As a result of changes in loan quality during the
quarter ended December 31, 2008, the Company anticipates increasing the
allowance for loan losses to $8.0 million, or 1.69% of total loans, at December
31, 2008. Nonperforming and impaired loans were $17.0 million at December 31,
2008, compared to $9.9 million at September 30, 2008. Loans delinquent 30 to 89
days totaled $10.9 million at December 31, 2008, compared to $6.5 million at
September 30, 2008. Other real estate owned increased to $1.4 million at
December 31, 2008 from $651,000 at September 30, 2008. Net charge-offs for the
quarter totaled $127,000, or 0.11% of average loans on an annualized
basis.
The
following table summarizes nonperforming and impaired loans:
|
December
31, 2008
|
September
30, 2008
|
|||||||||||||||
|
(in
thousands)
|
Balance
|
Loss Reserve
|
Balance
|
Loss Reserve
|
||||||||||||
|
Land
acquisition and development
|
$ | 4,330 | $ | 936 | $ | 3,975 | $ | 916 | ||||||||
|
One-
to four-family construction
|
5,389 | 832 | 4,239 | 596 | ||||||||||||
|
Commercial
real estate
|
3,071 | 273 | - | - | ||||||||||||
|
One-
to four-family residential
|
4,240 | 713 | 1,701 | 219 | ||||||||||||
|
Other
|
4 | - | 30 | 2 | ||||||||||||
|
Total nonperforming and impaired
loans
|
$ | 17,034 | $ | 2,754 | $ | 9,945 | $ | 1,733 | ||||||||
|
General
loss reserve
|
5,273 | 2,846 | ||||||||||||||
| $ | 8,027 | $ | 4,579 | |||||||||||||
These
preliminary estimates consider information currently available to the Company
regarding the factors that affect loan losses, such as changes in the Company’s
loan quality and the components of the loan portfolio, the Bank’s historical
loan loss experience, changes in the Company’s lending policies and procedures,
and current economic conditions as well as other factors. However, there can be
no assurance that those estimates will not change considering the current
economic uncertainty and its potential impact on the Company’s loan portfolio,
or that additional provisions for loan losses will not be required in the
future.
Home
Federal Bancorp, Inc.
January
15, 2009
Page 2
of 2
About
the Company
Home
Federal Bancorp, Inc., is a Maryland corporation headquartered in Nampa, Idaho,
and is the savings and loan holding company of Home Federal Bank, a federal
savings bank that was originally organized as a building and loan association in
1920. The Company serves the Treasure Valley region of southwestern
Idaho that includes Ada, Canyon, Elmore and Gem Counties, through 15
full-service banking offices and one loan center. The Company’s
common stock is traded on the NASDAQ Market under the symbol
“HOME.” The Company’s stock is also included in the America’s
Community Bankers NASDAQ Index and the Russell 3000 Index. For more
information, visit the Company’s web site at www.myhomefed.com.
Forward-Looking
Statements:
Statements
in this news release regarding future events, performance or results are
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995 (“PSLRA”) and are made pursuant to the safe
harbors of the PSLRA. These forward-looking statements relate to,
among other things, expectations of the business environment in which the
Company operates, projections of future performance, perceived opportunities in
the market, potential future credit experience, and statements regarding the
Company’s mission and vision. These forward-looking statements are
based upon current management expectations and may, therefore, involve risks and
uncertainties. Actual results could be materially different from
those expressed or implied by the forward-looking statements. Factors that could
cause results to differ include but are not limited to: general economic and
banking business conditions, competitive conditions between banks and non-bank
financial service providers, interest rate fluctuations, the credit risk of
lending activities, including changes in the level and trend of loan
delinquencies and write-offs; results of examinations by our banking
regulators, regulatory
and accounting changes, the value of mortgage servicing rights, risks related to
construction and development lending, commercial and small business banking and
other risks. Additional factors that could cause actual results to
differ materially are disclosed in Home Federal Bancorp, Inc.'s recent filings
with the Securities and Exchange Commission, including but not limited to its
Annual Report on Form 10-K for the year ended September 30, 2008, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking
statements are accurate only as of the date released, and we do not undertake
any responsibility to update or revise any forward-looking statements to reflect
subsequent events or circumstances.