HMN Financial, Inc. Declares Dividend

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Tue Jul 22, 2008 11:30pm EDT 

ROCHESTER, Minn.--(Business Wire)--
HMN Financial, Inc. (HMN) (Nasdaq:HMNF) today announced that it
was maintaining its current dividend rate and its Board declared a
dividend of 25 cents per share payable on September 8, 2008 to
stockholders of record on August 25, 2008.

   HMN also announced today that its Board has extended its stock
repurchase program until January 26, 2010; therefore, HMN is
authorized to purchase up to 300,000 shares of its common stock from
time to time in transactions on the NASDAQ Market or otherwise. HMN
has approximately 4.2 million shares of common stock outstanding.

   HMN Financial, Inc. and Home Federal are headquartered in
Rochester, Minnesota. Home Federal operates ten full service offices
in Minnesota located in Albert Lea, Austin, Eagan, La Crescent,
Rochester, Spring Valley and Winona, Minnesota and two full service
offices located in Marshalltown and Toledo, Iowa. Home Federal also
operates a loan origination office in Sartell, Minnesota. Home Federal
Private Banking operates branches in Edina and Rochester, Minnesota.

HMN Financial, Inc.
Michael McNeil, 507-535-1202
President

Copyright Business Wire 2008
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