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Equibles

10-Q

Home Federal Bancorp, Inc. of Louisiana (HFBL)

10-Q 2026-05-14 For: 2026-03-31
View Original
Added on May 15, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to _________

Commission file number 001-35019

HOME FEDERAL BANCORP, INC. OF LOUISIANA

| (Exact name of registrant as specified in its charter) |

Louisiana 02-0815311

| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

624 Market Street, Shreveport, Louisiana 71101

| (Address of principal executive offices) | (Zip Code) |

(318) 222-1145

| (Registrant’s telephone number, including area code) | | N/A | | --- | | (Former name, former address and former fiscal year, if changed since last report) |

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

| Common Stock (par value $0.01 per share) | HFBL | Nasdaq Stock Market, LLC |

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   ☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check One):

Large accelerated filer ☐ Accelerated filer ☐

| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |

| | | Emerging growth company | ☐ |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes    ☒ No

Shares of common stock, par value $0.01 per share, outstanding as of May 14, 2026: The registrant had 3,053,889 shares of common stock outstanding.

INDEX

Page
PART I FINANCIAL INFORMATION
Item 1: Financial Statements (Unaudited)
Consolidated Balance Sheets 1
Consolidated Statements of Operations 2
Consolidated Statements of Comprehensive Income 3
Consolidated Statements of Changes in Stockholders’ Equity 4
Consolidated Statements of Cash Flows 6
Notes to Consolidated Financial Statements 8
Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations 32
Item 3: Quantitative and Qualitative Disclosures About Market Risk 40
Item 4: Controls and Procedures 40
PART II OTHER INFORMATION
Item 1: Legal Proceedings 41
Item 1A: Risk Factors 41
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 41
Item 3: Defaults Upon Senior Securities 42
Item 4: Mine Safety Disclosures 42
Item 5: Other Information 42
Item 6: Exhibits 42
SIGNATURES 43

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands except per share data)

June 30, 2025
Assets
Cash and cash equivalents (includes interest-bearing deposits with other banks of 16,518 and 10,380 at March 31, 2026 and June 30, 2025, respectively) 28,943 $ 17,347
Securities available-for-sale (amortized cost March 31, 2026: 43,251; June 30, 2025: 36,695, respectively) 40,975 34,246
Securities held-to-maturity (fair value March 31, 2026: 47,726; June 30, 2025: 51,139, respectively) 56,764 61,334
Other securities 940 650
Loans held-for-sale 2,745 1,540
Loans receivable, net of allowance for credit losses (March 31, 2026: 4,750; June 30, 2025: 4,484, respectively) 478,925 461,004
Accrued interest receivable 1,922 1,836
Premises and equipment, net 16,503 17,266
Bank owned life insurance 7,012 6,926
Goodwill 2,990 2,990
Core deposit intangible 727 915
Deferred tax asset 1,126 1,163
Real estate owned 814 970
Other assets 1,263 1,305
Total assets 641,649 $ 609,492
Liabilities
Deposits:
Non-interest bearing 139,110 $ 122,416
Interest bearing 435,322 423,874
Total deposits 574,432 546,290
Advances from borrowers for taxes and insurance 483 543
Advances from the Federal Home Loan Bank of Dallas 2,000 -
Other borrowings 3,556 4,000
Other accrued expenses and liabilities 3,174 3,454
Total liabilities 583,645 554,287
Stockholders’ equity
Preferred stock - 0.01 par value; 10,000,000 shares authorized: none issued and outstanding - -
Common stock - 0.01 par value; 40,000,000 shares authorized: 3,059,889 and 3,084,764 shares issued and outstanding at March 31, 2026 and June 30, 2025, respectively 34 32
Additional paid-in capital 44,201 42,187
Unearned ESOP stock (277 ) (321 )
Retained earnings 15,844 15,241
Accumulated other comprehensive loss (1,798 ) (1,934 )
Total stockholders’ equity 58,004 55,205
Total liabilities and stockholders’ equity 641,649 $ 609,492

All values are in US Dollars.

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollar amounts in thousands except per share data)

(Unaudited)

Three Months Ended Nine Months Ended
March 31, March 31,
2026 2025 2026 2025
Interest income
Loans, including fees $ 7,361 $ 6,740 $ 21,971 $ 20,426
Investment securities 8 83 30 213
Mortgage-backed securities 572 493 1,666 1,406
Other interest-earning assets 74 109 421 779
Total interest income 8,015 7,425 24,088 22,824
Interest expense
Deposits 2,533 2,675 7,819 8,851
Federal Home Loan Bank borrowings 13 - 13 -
Other bank borrowings 62 76 211 274
Total interest expense 2,608 2,751 8,043 9,125
Net interest income 5,407 4,674 16,045 13,699
Provision for (recovery of) credit losses 269 6 421 (172 )
Net interest income after provision for credit losses 5,138 4,668 15,624 13,871
Non-interest income
Loss on sale of real estate (10 ) - (18 ) (266 )
Gain on sale of loans 129 80 405 181
Loss on sale of securities - - - (6 )
Income on bank owned life insurance 28 29 86 87
Service charges on deposit accounts 424 382 1,283 1,165
Other income 50 47 153 165
Total non-interest income 621 538 1,909 1,326
Non-interest expense
Compensation and benefits 2,161 2,136 6,412 6,667
Occupancy and equipment 607 610 1,733 1,711
Data processing 350 553 1,004 1,107
Audit and examination fees 113 150 292 473
Franchise and bank shares tax 120 135 309 304
Advertising 31 22 84 123
Professional fees 136 145 371 396
Loan and collection 35 46 112 104
Amortization of core deposit intangible 57 70 188 216
Deposit insurance premium 104 102 281 267
Other expenses 255 282 827 729
Total non-interest expense 3,969 4,251 11,613 12,097
Income before income taxes 1,790 955 5,920 3,100
Provision for income tax expense 318 207 1,174 392
Net income $ 1,472 $ 748 $ 4,746 $ 2,708
Earnings per share
Basic $ 0.49 $ 0.24 $ 1.57 $ 0.88
Diluted $ 0.48 $ 0.24 $ 1.55 $ 0.88

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollar amounts in thousands except per share data)

(Unaudited)

Three Months Ended Nine Months Ended
March 31, March 31,
2026 2025 2026 2025
Net income $ 1,472 $ 748 $ 4,746 $ 2,708
Other comprehensive gain (loss), net of tax
Unrealized gains (losses) on securities available-for-sale:
Unrealized holding gains (losses) arising during the period (525 ) 715 173 702
Less: reclassification adjustments for securities gains(losses) realized in net income - (6 ) - (6 )
Income tax effect 110 (152 ) (37 ) (149 )
Total other comprehensive gain (loss), net of tax (415 ) 569 136 559
Total comprehensive income $ 1,057 $ 1,317 $ 4,882 $ 3,267

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

THREE MONTHS ENDED MARCH 31, 2026 AND 2025

(Dollar amounts in thousands except per share data)

(Unaudited)

Common Stock Additional<br><br> <br>Paid-in Capital Unearned<br><br> <br>ESOP Shares Retained<br><br> <br>Earnings Accumulated<br><br> <br>Other<br><br> <br>Comprehensive<br><br> <br>Income (Loss) Total
Balance at December 31, 2024 $ 32 $ 42,010 $ (350 ) $ 14,866 $ (2,625 ) $ 53,933
Net income - - - 748 - 748
ESOP compensation earned - 23 14 - - 37
Stock options exercised - - - - - -
Dividends paid - - - (408 ) - (408 )
Stock options vested - 22 - - - 22
Company stock purchased - - - (182 ) - (182 )
Other comprehensive income, unrealized gain on debt securities, net of tax - - - - 569 569
Balance at March 31, 2025 $ 32 $ 42,055 $ (336 ) $ 15,024 $ (2,056 ) $ 54,719
Balance at December 31, 2025 $ 34 $ 43,978 $ (292 ) $ 15,412 $ (1,383 ) $ 57,749
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net income - - - 1,472 - 1,472
ESOP compensation earned - 36 15 - - 52
Stock options exercised - 182 - - - 181
Dividends paid - - - (417 ) - (417 )
Stock options vested - 5 - - - 5
Company stock purchased - - - (623 ) - (623 )
Other comprehensive loss, unrealized loss on debt securities, net of tax - - - - (415 ) (415 )
Balance at March 31, 2026 $ 34 $ 44,201 $ (277 ) $ 15,844 $ (1,798 ) $ 58,004

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

NINE MONTHS ENDED MARCH 31, 2026 AND 2025

(Dollar amounts in thousands except per share data)

(Unaudited)

Common Stock Additional Paid-in Capital Unearned ESOP Shares Retained Earnings Accumulated Other Comprehensive Income Total
Balance at June 30, 2024 $ 32 $ 41,739 $ (408 ) $ 14,055 $ (2,615 ) $ 52,803
Net income - - - 2,708 - 2,708
ESOP compensation earned - 108 72 - - 180
Stock options exercised - 19 - - - 19
Dividends paid - - - (1,223 ) - (1,223 )
Stock options vested - 77 - - - 77
Company stock purchased - - - (516 ) - (516 )
Other comprehensive income, unrealized gain on debt securities, net of tax - - - - 559 559
Share awards earned - 112 - - - 112
Balance at March 31, 2025 $ 32 $ 42,055 $ (336 ) $ 15,024 $ (2,056 ) $ 54,719
Balance at June 30, 2025 $ 32 $ 42,187 $ (321 ) $ 15,241 $ (1,934 ) $ 55,205
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net income - - - 4,746 - 4,746
ESOP compensation earned - 94 44 - - 138
Stock options exercised 2 1,769 - - - 1,771
Dividends paid - - - (1,250 ) - (1,250 )
Stock options vested - 46 - - - 46
Company stock purchased - - - (2,893 ) - (2,893 )
Other comprehensive income, unrealized gain on debt securities, net of tax - - - - 136 136
Share awards earned - 105 - - - 105
Balance at March 31, 2026 $ 34 $ 44,201 $ (277 ) $ 15,844 $ (1,798 ) $ 58,004

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollar amounts in thousands except per share data)

(Unaudited)

Nine Months Ended
March 31,
2026 2025
Cash flows from operating activities
Net income $ 4,746 $ 2,708
Adjustments to reconcile net income to net
Cash provided by operating activities
Gain on sale of loans (405 ) (181 )
Loss on sale of investments - 6
Net amortization and accretion on securities (261 ) (104 )
Amortization of deferred loan fees (61 ) (55 )
Amortization of purchased loans (142 ) (210 )
Provision for (recovery of) credit losses 421 (172 )
Depreciation of premises and equipment 774 744
Loss on sale of real estate 18 266
ESOP compensation expense 138 180
Stock option expense 46 189
Deferred income tax benefit - (335 )
Share awards expense 105 -
Increase in cash surrender value on bank owned life insurance (86 ) (87 )
Amortization of core deposit intangible 188 216
Changes in assets and liabilities:
Loans held-for-sale – originations and purchases (19,806 ) (9,771 )
Loans held-for-sale – sale and principal repayments 19,006 10,686
Accrued interest receivable (86 ) (27 )
Other operating assets 42 (178 )
Other operating liabilities (280 ) 577
Net cash from operating activities 4,357 4,452
Cash flows from investing activities
Loan originations and purchases, net (19,124 ) 12,018
Deferred loan fees collected 51 70
Acquisition of premises and equipment (11 ) (36 )
Proceeds from sale of premises and equipment - 28
Proceeds from sale of real estate 1,106 199
Improvements to real estate owned prior to disposition (34 ) (47 )
Changes in FHLB stock (290 ) 978
Activity in available-for-sale securities:
Maturities, prepayments and calls 4,581 6,131
Purchases (10,852 ) (11,070 )
Sales - 651
Activity in held-to-maturity securities:
Maturities, prepayments and calls 4,546 4,218
Net cash from investing activities (20,027 ) 13,140

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

(Dollar amounts in thousands except per share data)

(Unaudited)

Nine Months Ended
March 31,
2026 2025
Cash flows from financing activities
Net increase (decrease) in deposits $ 28,142 $ (17,244 )
Proceeds from advances from federal home loan bank 2,000 -
Dividends paid (1,250 ) (1,223 )
Company stock purchased (2,893 ) (516 )
Net decrease in advances from borrowers for taxes and insurance (60 ) (137 )
Repayments of other bank borrowings (444 ) (3,000 )
Proceeds from stock options exercised 1,771 19
Net cash from financing activities 27,266 (22,101 )
Net increase (decrease) in cash and cash equivalents 11,596 (4,509 )
Cash and cash equivalents - beginning of period $ 17,347 $ 34,948
Cash and cash equivalents - end of period $ 28,943 $ 30,439
Supplemental cash flow information
Interest paid on deposits and borrowed funds $ 7,971 $ 9,037
Income taxes paid 1,240 425
Market value adjustment for gain on securities available-for-sale 173 708
Transfer from loans to other real estate owned 934 900

See accompanying notes to consolidated financial statements.

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.          Summary of Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Home Federal Bancorp, Inc. of Louisiana (the “Company”) and its subsidiary, Home Federal Bank (“Home Federal Bank” or the “Bank”). These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the Nine month period ended March 31, 2026, are not necessarily indicative of the results which may be expected for the fiscal year ending June 30, 2026. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K as of and for the year ended June 30, 2025 (the “Company’s 2025 Form 10-K”).

The Company follows accounting standards set by the Financial Accounting Standards Board (the “FASB”). The FASB sets generally accepted accounting principles (“GAAP”) that we follow to ensure we consistently report our financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (the “Codification” or the “ASC”).

In accordance with the subsequent events topic of the ASC, the Company evaluates events and transactions that occur after the statement of financial condition date for potential recognition in the consolidated financial statements. The effect of all subsequent events that provide additional evidence of conditions that existed at the statement of financial condition date are recognized in the consolidated financial statements as of March 31, 2026. In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred through the date these consolidated financial statements were issued.

Segment Reporting

The Company determined that all of its banking operations serve a similar customer base, offer similar products and services, and are managed through similar processes. Therefore, the Company’s banking operations are aggregated into one reportable operating segment, which generates income principally from interest on loans and, to a lesser extent, securities investments, as well as from fees charged in connection with various loan and deposit services. The Chief Operating Decision Maker (“CODM”), is the President and Chief Executive Officer, who for the purposes of assessing performance, making operating decisions, and allocating Company resources, regularly reviews net income as reported in the accompanying consolidated statements of operations. The level of disaggregation and amounts of significant segment income and expenses that are regularly provided to the CODM are the same as those presented in the accompanying consolidated statements of operations. Likewise, the measure of segment assets is reported on the accompanying consolidated balance sheets as total assets.

Use of Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for credit losses.

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Nature of Operations

Home Federal Bancorp, Inc. of Louisiana, a Louisiana corporation, is the fully public stock holding company for Home Federal Bank located in Shreveport, Louisiana. The Bank is a federally chartered stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. The Company is a savings and loan holding company regulated by the Board of Governors of the Federal Reserve System. Services are provided to the Bank’s customers by ten full-service banking offices and home office, located in Caddo, Bossier and Webster Parishes, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City-Minden combined statistical area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. As of March 31, 2026, the Bank had one wholly-owned subsidiary, Metro Financial Services, Inc., which previously engaged in the sale of annuity contracts and does not currently engage in a meaningful amount of business.

Cash and Cash Equivalents

For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which mature within ninety days.

Securities

Securities are being accounted for in accordance with FASB ASC 320’s, Investments, which requires the classification

  of securities into one of three categories: Trading, Available-for-Sale, or Held-to-Maturity. Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates this classification periodically.

Investments in debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at cost, adjusted for amortization of the related premiums and accretion of discounts, using the interest method. Investments in debt securities that are not classified as held-to-maturity are classified as either trading or available-for-sale securities.

Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings, while net unrealized holding gains and losses on available-for-sale debt securities are excluded from earnings and reported in other comprehensive income.

The Company held no trading securities as of March 31, 2026 and June 30, 2025.

Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Securities are periodically reviewed for impairment. For debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline is in the fair value below amortized cost basis (impairment) is due to credit or non-credit related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. For available for sale investments, credit related impairment is recognized as an allowance for credit losses (“ACL”) on the balance sheet, limited to the amount by which the amortized cost basis exceeds to the fair value, with a corresponding adjustment to earnings. For held to maturity investments, credit related impairment is recognized as an ACL on the balance sheet, for the entire amount of credit loss, with a corresponding adjustment to earnings. Both the ACL and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale security, or more likely than not will be required to sell such security before recovering the amortized cost basis, the entire impairment amount must be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL is such situation. Accrued interest receivable is excluded from the estimate of credit losses.

In evaluating securities in unrealized loss positions, for impairment and the criteria regarding intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by federal governments or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial conditions, among other factors.

The Bank has invested in Federal Home Loan Bank (“FHLB”) stock, and other similar correspondent banks, which is reflected at cost in these consolidated financial statements. As a member of the FHLB System, the Bank is required to purchase and maintain stock in an amount determined by the FHLB. The FHLB stock is redeemable at par value at the discretion of the FHLB.

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Loans Held-for-Sale

Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate.

Loans Receivable

Loans receivable are stated as unpaid principal balances less ACL and unamortized deferred loan fees. Net nonrefundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discount on property improvement and automobile loans is deferred and amortized on the interest method over the life of the loan.

Allowance for Credit Losses

The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income.

The ACL for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses and 2) loans evaluated individually for expected credit losses. The ACL also includes certain qualitative adjustments to the ASU 2016-13 model.

Loans Evaluated Collectively. Homogeneous loans are evaluated collectively for expected credit losses. The loan pools/segments with similar risk characteristics

  were determined by Call Report codes.

Loans Evaluated Individually. Loans evaluated individually for expected credit losses could include loans on non-accrual status.

Management estimates the allowance balance using relevant available information from internal and external sources relating to past events, current conditions and reasonable and supportable forecasts. Adjustments to historical loss information are made to incorporate our reasonable and supportable forecast of future losses at the portfolio segment level, as well as any necessary qualitative adjustments, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and industry loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis.

Loans evaluated individually may have specific allocations assigned if the measured value of the loan using one of the noted techniques is less than its current carrying value. For loans measured using the fair value of collateral, if the analysis determines that sufficient collateral value would be available for repayment of the debt, then no allocations would be assigned to those loans. Collateral could be in the form of real estate or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification. For all loans, an internal risk rating process is used. The Company believes that internal risk ratings are the most relevant credit quality indicator for these types of loans. Assigning risk ratings involves judgment. Risk ratings may be changed based on ongoing monitoring procedures, or if specific loan review assessments identify a deterioration or an improvement in the loan.

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Index

The following is a summary of the Company’s internal risk rating categories:

• Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less costs to acquire and sell the underlying collateral in a timely manner.
• Pass Watch - Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral.
--- ---
• Special Mention - Loans identified as special mention have a potential weakness that deserves management’s close attention.  If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the<br> loan or of the Bank’s credit position at some future date.
--- ---
• Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any.  Loans so classified have a well-defined weakness or weaknesses<br> that jeopardize the liquidation of the debt.  They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.
--- ---
• Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing<br> facts, conditions, and values, highly questionable and improbable.
--- ---
• Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted.  Even though partial recovery may be possible in the future, it is not practical<br> or desirable to defer writing off these basically worthless loans.  Accordingly, these loans are charged-off before period end.
--- ---

The allocation of the ACL is reviewed to evaluate its appropriateness in relation to the overall risk profile of the loan portfolio. The Company considers risk factors such as: local and national economic conditions; trends in delinquencies and non-accrual loans; the diversity of borrower industry types; and the composition of the portfolio by loan type.

Qualitative and Other Adjustments to Allowance for Credit Losses: In addition to the quantitative credit loss estimates for loans evaluated collectively, qualitative factors that may not be fully captured in the quantitative results are also evaluated. These include changes in lending policy, the nature and volume of the portfolio, overall business conditions in the economy, credit concentrations, competition, model imprecision, and legal and regulatory requirements. Qualitative adjustments are judgmental and are based on Management’s knowledge of the portfolio and the markets in which the Company operates. Qualitative adjustments are evaluated and approved on a quarterly basis. Additionally, the ACL includes other allowance categories that are not directly incorporated in the quantitative results. These include but are not limited to loans-in-process, trade acceptances and overdrafts.

Off Balance Sheet Credit Exposures. The ACL for off balance sheet credit exposures is recorded in other liabilities on the Consolidated Balance Sheet. This ACL

  represents management’s estimate of expected losses in its unfunded loan commitments and other off balance sheet credit exposures, such as letters of credit and credit recourse on sold residential mortgage loans. The allowance for credit losses
  specific to unfunded commitments is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). The ACL for off
  balance sheet credit exposures is increased or decreased by charges or reductions to expense, through the provision for credit losses. In addition to the ACL on loans held for investment, CECL requires a balance sheet liability for unfunded
  commitments, which is recognized if both of the following conditions are met: (1) the Company has a present contractual obligation to extend credit; and (2) the obligation is not unconditionally cancellable by the Company. Based on the language
  within the standard loan documents prepared for each Home Federal Bank commitment, all unfunded commitments are considered unconditionally cancellable and thus no CECL ACL is allocated.

Off-Balance Sheet Credit Related Financial Instruments

In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded.

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Index

Real Estate Owned

Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and carried at the lower of cost or current fair value minus estimated costs to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell.

Premises and Equipment

Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:

Buildings and Improvements 10 - 40 Years
Furniture and Equipment 3 - 10 Years

Bank-Owned Life Insurance

The Bank has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income.

Income Taxes

The Company and its wholly-owned subsidiary file a consolidated Federal income tax return on a fiscal year basis. Each entity pays its pro-rata share of income taxes in accordance with a written tax-sharing agreement.

The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable.

The Company follows the provisions of the Income Taxes Topic of the FASB ASC 740. ASC 740 prescribes a recognition threshold and measurement attribute for

  financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties, and disclosures required. The Company
  recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.

While the Company is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders’ equity and net income.

Earnings per Share

Earnings per share are computed based upon the weighted average number of common shares outstanding during the period.

Stock-Based Compensation

GAAP requires all share-based payments to employees, including grants of employee stock options and share awards, to be recognized as expense in the consolidated statements of income based on their fair values. The amount of compensation is measured at the fair value of the options or share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or share awards.

12

Index

Comprehensive Income

Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale debt securities, are reported as a separate component of the equity section of the consolidated statements of financial conditions along with net income, they are components of comprehensive income.

Recent Accounting Pronouncements

FASB ASC Topic 280 “Segment Reporting: Improvements to Reportable Segments

    Disclosures” Update No. 2023-07 (“ASU 2023-07”). ASU 2023-07 became effective for the Company for the fiscal year ended June 30, 2025 and is being
  applied in interim periods beginning after June 30, 2025. ASU 2023-07 requires public
  entities to disclose the title and position of the entity’s CODM and an explanation of how the CODM utilizes the reported measures of profit or loss to assess segment performance and allocate resources, significant segment expenses, an amount and
  description for other segment items, and, on an interim basis, certain segment related disclosures that previously were required only on an annual basis. ASU 2023-07
  also clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements and that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria
  are met. The adoption of ASU 2023-07 did not have a material impact on the Company’s consolidated financial statements.

13

Index

2.          Securities

The following tables summarize the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at March 31, 2026 and June 30, 2025 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses:

March 31, 2026 Amortized<br><br> <br>Cost Gross<br><br> <br>Unrealized<br><br> <br>Gains Gross<br><br> <br>Unrealized<br><br> <br>Losses Fair Value
(In Thousands)
Available-for-sale
Mortgage-backed securities: residential $ 43,251 $ 46 $ 2,322 $ 40,975
Total available-for-sale $ 43,251 $ 46 $ 2,322 $ 40,975
March 31, 2026 Amortized<br><br> <br>Cost Gross<br><br> <br>Unrecognized<br><br> <br>Gains Gross<br><br> <br>Unrecognized<br><br> <br>Losses Fair Value
--- --- --- --- --- --- --- --- ---
(In Thousands)
Held-to-maturity
Mortgage-backed securities: residential $ 55,725 $ - $ 9,003 $ 46,722
State and political subdivision 1,039 - 35 1,004
Total held-to-maturity $ 56,764 $ - $ 9,038 $ 47,726
June 30, 2025 Amortized <br><br> Cost Gross<br><br> <br>Unrealized<br><br> <br>Gains Gross<br><br> <br>Unrealized<br><br> <br>Losses Fair Value
--- --- --- --- --- --- --- --- ---
(In Thousands)
Available-for-sale
Mortgage-backed securities: residential $ 36,330 $ 76 $ 2,525 $ 33,881
State and political subdivision 365 - - 365
Total available-for-sale $ 36,695 $ 76 $ 2,525 $ 34,246
June 30, 2025 Amortized<br><br> <br>Cost Gross<br><br> <br>Unrecognized<br><br> <br>Gains Gross<br><br> <br>Unrecognized<br><br> <br>Losses Fair Value
--- --- --- --- --- --- --- --- ---
(In Thousands)
Held-to-maturity
Mortgage-backed securities: residential $ 60,075 $ - $ 10,140 $ 49,935
State and political subdivision 1,259 - 55 1,204
Total held-to-maturity $ 61,334 $ - $ 10,195 $ 51,139

The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call of prepay obligations with or without call or prepayment penalties.

March 31, 2026 Amortized Cost Fair Value
(In Thousands)
Available-for-sale
One to five years $ 1,482 $ 1,457
Five to ten years 7,907 7,524
Beyond ten years 33,862 31,994
Total available-for-sale $ 43,251 $ 40,975
Held-to-maturity
Five to ten years $ 1,381 $ 1,338
Beyond ten years 55,383 46,388
Total held-to-maturity $ 56,764 $ 47,726

14

Index

The following tables summarize debt securities available-for-sale in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2026 and June 30, 2025, aggregated by major security type and length of time in a continuous unrealized loss position:

Less Than 12 Months 12 Months or Longer Total
March 31, 2026 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
(In Thousands)
Available-for-sale
Mortgage-backed securities: residential $ 9,768 $ 185 $ 22,350 $ 2,138 $ 32,118 $ 2,322
Total available-for-sale $ 9,768 $ 185 $ 22,350 $ 2,138 $ 32,118 $ 2,322
Less Than 12 Months 12 Months or Longer Total
--- --- --- --- --- --- --- --- --- --- --- --- ---
June 30, 2025 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
(In Thousands)
Available-for-sale
Mortgage-backed securities: residential $ 8,499 $ 226 $ 17,879 $ 2,299 $ 26,378 $ 2,525
Total available-for-sale $ 8,499 $ 226 $ 17,879 $ 2,299 $ 26,378 $ 2,525

At March 31, 2026, the Company’s security portfolio consisted of 89 securities, 65 of which were in an unrealized loss position. At June 30, 2025, the Company’s security portfolio consisted of 74 securities, 53 of which were in an unrealized loss position. The unrealized losses on the Company’s investment in mortgage-backed securities at March 31, 2026 and June 30, 2025 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly, it is expected that these securities would not be settled at a price less than the amortized cost of the Company’s investment. Because the decline in market value is attributable to changes in interest rates and not credit quality and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at March 31, 2026.

At March 31, 2026 and June 30, 2025, securities with a carrying value of $22.895 million and $24.517 million, respectively, were pledged to secure certain deposits, borrowings, and other liabilities.

15

Index

3.          Loans Receivable

Loans receivable are summarized as follows:

March 31, 2026 June 30, 2025
(In Thousands)
Loans Secured by Mortgages on Real Estate
One-to-Four Family Residential $ 168,590 $ 174,978
Commercial 141,409 138,920
Multi-Family Residential 30,801 32,283
Land 55,434 30,054
Construction 6,166 11,226
Equity and Second Mortgage 2,913 2,520
Equity Lines of Credit 21,367 20,354
Total Mortgage Loans 426,680 410,335
Commercial Loans 56,355 54,138
Consumer Loans
Loans on Savings Accounts 450 381
Other Consumer Loans 285 739
Total Consumer Loans 735 1,120
Total Loans 483,770 465,593
Less: Allowance for Credit Losses (4,750 ) (4,484 )
Unamortized Loan Fees (95 ) (105 )
Net Loans Receivable $ 478,925 $ 461,004

16

Index

Credit Quality Indicators

The Company segregates loans into risk categories based on the pertinent information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans according to credit risk. Loans classified as substandard or identified as special mention are reviewed quarterly by management to evaluate the level of deterioration, improvement, and impairment, if any, as well as assign the appropriate risk category.

Loans excluded from the scope of the quarterly review process above are generally identified as pass credits until: (a) they become past due; (b) management becomes aware of a deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification and the need to allocate reserves or charge-off.

The Company uses the following definitions for risk ratings:

• Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less cost to acquire and sell the underlying collateral in a timely manner.
• Pass Watch - Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent<br> loss by collateral and are still considered a pass.
--- ---
• Special Mention - Loans identified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the<br> repayment prospects for the loan or of the bank’s credit position at some future date.
--- ---
• Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a<br> well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
--- ---
• Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the<br> basis of currently existing facts, conditions, and values, highly questionable and improbable.
--- ---
• Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the<br> future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end.
--- ---

17

Index

The following tables summarize designated internal risk categories by portfolio segment and loan class, by origination year, as of March 31, 2026:

Term Loans Amortized Cost by Origination Year Revolving
As of March 31, 2026 2026 2025 2024 2023 2022 Prior Lines Total
(In Thousands)
One-to-four family residential
Risk rating
Pass $ 5,223 $ 17,100 $ 13,291 $ 35,439 $ 30,910 $ 58,578 $ - $ 160,541
Pass watch - 73 1,539 774 837 1,727 - 4,950
Special mention - - - - - 620 - 620
Substandard $ - $ 548 $ 555 $ 70 $ 637 $ 669 $ - $ 2,479
Total One-to-four family residential $ 5,223 $ 17,721 $ 15,385 $ 36,283 $ 32,384 $ 61,594 $ - $ 168,590
Current period gross charge-offs - - - - - - - -
Commercial
Risk rating
Pass $ 7,377 $ 26,012 $ 6,220 $ 9,523 $ 21,762 $ 60,552 $ - $ 131,446
Pass watch - - 76 98 7,725 107 - 8,006
Special mention - - - - - 1,942 - 1,942
Substandard - - - - 15 - - 15
Total commercial $ 7,377 $ 26,012 $ 6,296 $ 9,621 $ 29,502 $ 62,601 $ - $ 141,409
Current period gross charge-offs $ - $ - $ - $ 60 $ - $ 145 $ - $ 205
Multi-family residential
Risk rating
Pass $ - $ 6,936 $ - $ - $ 323 $ 16,452 $ - $ 23,711
Pass watch - - 1,116 1,801 - 4,173 - 7,090
Total multi-family residential $ - $ 6,936 $ 1,116 $ 1,801 $ 323 $ 20,625 $ - $ 30,801
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -
Land
Risk rating
Pass $ 3,381 $ 19,843 $ 11,531 $ 2,694 $ 3,415 $ 14,259 $ - $ 55,123
Pass watch - 167 - 144 - - - 311
Total land $ 3,381 $ 20,010 $ 11,531 $ 2,838 $ 3,415 $ 14,259 $ - $ 55,434
Current period gross charge-offs $ - $ - $ - $ - $ 10 $ - $ - $ 10
Construction
Risk rating
Pass $ 1,016 $ 4,310 $ - $ 840 $ - $ - $ - $ 6,166
Total construction $ 1,016 $ 4,310 $ - $ 840 $ - $ - $ - $ 6,166
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -

18

Index

Term Loans Amortized Cost by Origination Year Revolving
As of March 31, 2026 2026 2025 2024 2023 2022 Prior Lines Total
(In Thousands)
Equity loans and lines of credit
Risk rating
Pass $ 110 $ 568 $ 550 $ 420 $ 610 $ 416 $ 21,071 $ 23,745
Pass watch - - - 10 - - - 10
Special mention - - - - - - 71 71
Substandard - - - 229 - - 225 454
Total home equity and lines of credit $ 110 $ 568 $ 550 $ 659 $ 610 $ 416 $ 21,367 $ 24,280
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -
Commercial Loans
Risk rating
Pass $ 5,680 $ 10,378 $ 15,301 $ 4,463 $ 2,214 $ 14,194 $ - $ 52,230
Pass watch 328 17 612 119 129 - - 1,205
Special mention 319 1,943 134 498 - - - 2,894
Substandard - - - - 18 8 - 26
Total commercial loans $ 6,327 $ 12,338 $ 16,047 $ 5,080 $ 2,361 $ 14,202 $ - $ 56,355
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -
Consumer Loans
Risk rating
Pass $ 34 $ 199 $ 217 $ 80 $ 59 $ 117 $ - $ 706
Substandard - - 24 5 - - - 29
Total consumer loans $ 34 $ 199 $ 241 $ 85 $ 59 $ 117 $ - $ 735
Current period gross charge-offs $ - $ 1 $ - $ 1 $ - $ - $ - $ 2
Total
Risk rating
Pass $ 22,821 $ 85,346 $ 47,110 $ 53,459 $ 59,293 $ 164,568 $ 21,071 $ 453,668
Pass watch 328 257 3,343 2,946 8,691 6,007 - 21,572
Special mention 319 1,943 134 498 - 2,562 71 5,527
Substandard - 548 579 304 670 677 225 3,003
Total $ 23,468 $ 88,094 $ 51,166 $ 57,207 $ 68,654 $ 173,814 $ 21,367 $ 483,770
Current period gross charge-offs $ - $ 1 $ - $ 61 $ 10 $ 145 $ - $ 217

19

Index

The following tables summarize designated internal risk categories by portfolio segment and loan class, by origination year, as of June 30, 2025:

Term Loans Amortized Cost by Origination Year Revolving
As of June 30, 2025 2025 2024 2023 2022 2021 Prior Lines Total
(In Thousands)
One-to-four family residential
Risk rating
Pass $ 12,456 $ 20,344 $ 40,116 $ 35,296 $ 30,282 $ 28,952 $ - $ 167,446
Pass watch 1,072 1,358 1,088 1,379 257 629 - 5,783
Special mention - 40 - - 379 314 - 733
Substandard - - 268 252 496 - - 1,016
Total One-to-four family residential $ 13,528 $ 21,742 $ 41,472 $ 36,927 $ 31,414 $ 29,895 $ - $ 174,978
Current period gross charge-offs $ - $ - $ 34 $ - $ - $ - $ - $ 34
Commercial
Risk rating
Pass $ 21,880 $ 12,736 $ 17,394 $ 32,791 $ 36,221 $ 13,823 $ - $ 134,845
Pass watch 114 2,488 98 408 - - - 3,108
Substandard - - - 19 948 - - 967
Total commercial $ 21,994 $ 15,224 $ 17,492 $ 33,218 $ 37,169 $ 13,823 $ - $ 138,920
Current period gross charge-offs $ - $ - $ 154 $ - $ 90 $ - $ - $ 244
Multi-family residential
Risk rating
Pass $ 498 $ 6,854 $ 1,969 $ 4,871 $ 942 $ 15,942 $ - $ 31,076
Pass watch 1,207 - - - - - - 1,207
Total multi-family residential $ 1,705 $ 6,854 $ 1,969 $ 4,871 $ 942 $ 15,942 $ - $ 32,283
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -
Land
Risk rating
Pass $ 8,405 $ 8,380 $ 3,044 $ 3,262 $ 3,505 $ 994 $ - $ 27,590
Pass watch 79 2,376 - - 9 - - 2,464
Total land $ 8,484 $ 10,756 $ 3,044 $ 3,262 $ 3,514 $ 994 $ - $ 30,054
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -
Construction
Risk rating
Pass $ 7,192 $ 3,054 $ - $ - $ - $ - $ - $ 10,246
Pass watch - 980 - - - - - 980
Total construction $ 7,192 $ 4,034 $ - $ - $ - $ - $ - $ 11,226
Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ -

20

Index

Term Loans Amortized Cost by Origination Year Revolving
As of June 30, 2025 2025 2024 2023 2022 2021 Prior Lines Total
(In Thousands)
Equity loans and lines of credit
Risk rating
Pass $ 46 $ 582 $ 629 $ 639 $ 96 $ 376 $ 19,823 $ 22,191
Pass watch - - 10 - - - 234 244
Special mention - - - - - - 72 72
Substandard - - 142 - - - 225 367
Total home equity and lines of credit $ 46 $ 582 $ 781 $ 639 $ 96 $ 376 $ 20,354 $ 22,874
Current period gross charge-offs $ - $ - $ - $ - $ 7 $ 17 $ - $ 24
Commercial Loans
Risk rating
Pass $ 6,742 $ 21,685 $ 9,317 $ 4,100 $ 2,973 $ 4,756 $ - $ 49,573
Pass watch 762 8 70 70 - - - 910
Special mention 2,318 179 917 - 128 - - 3,542
Substandard - - 75 25 13 - - 113
Total commercial loans $ 9,822 $ 21,872 $ 10,379 $ 4,195 $ 3,114 $ 4,756 $ - $ 54,138
Current period gross charge-offs $ - $ - $ - $ 2 $ - $ - $ - $ 2
Consumer Loans
Risk rating
Pass $ 285 $ 328 $ 280 $ 87 $ 1 $ 101 $ - $ 1,082
Special mention - 29 - - - - - 29
Substandard - - 9 - - - - 9
Total consumer loans $ 285 $ 357 $ 289 $ 87 $ 1 $ 101 $ - $ 1,120
Current period gross charge-offs $ - $ 1 $ 18 $ - $ - $ - $ - $ 19
Total
Risk rating
Pass $ 57,504 $ 73,963 $ 72,749 $ 81,046 $ 74,020 $ 64,944 $ 19,823 $ 444,049
Pass watch 3,234 7,210 1,266 1,857 266 629 234 14,696
Special mention 2,318 248 917 - 507 314 72 4,376
Substandard - - 494 296 1,457 - 225 2,472
Total $ 63,056 $ 81,421 $ 75,426 $ 83,199 $ 76,250 $ 65,887 $ 20,354 $ 465,593
Current period gross charge-offs $ - $ 1 $ 206 $ 2 $ 97 $ 17 $ - $ 323

21

Index

The following tables present an aging analysis of past due loans, segregated by class of loans, as of March 31, 2026 and June 30, 2025:

March 31, 2026 30-59 Days<br><br> <br>Past Due 60-89 Days<br><br> <br>Past Due 90 or More Days<br><br> <br>Past Due Total Past<br><br> <br>Due Current Total Loans<br><br> <br>Receivable Recorded<br><br> <br>Investment ><br><br> <br>90 Days and<br><br> <br>Accruing
(In Thousands)
Real Estate Loans:
One-to-Four Family Residential $ 3,149 $ 10 $ 2,590 $ 5,749 $ 162,841 $ 168,590 $ 273
Commercial - - - - 141,409 141,409 -
Multi-Family Residential - - - - 30,801 30,801 -
Land 108 - - 108 55,326 55,434 -
Construction - - - - 6,166 6,166 -
Equity and Second Mortgage - - 142 142 2,771 2,913 -
Equity Lines of Credit - - 225 225 21,142 21,367 -
Commercial Loans 95 - 18 113 56,242 56,355 -
Consumer Loans 16 24 - 40 695 735 -
Total $ 3,368 $ 34 $ 2,975 $ 6,377 $ 477,393 $ 483,770 $ 273
June 30, 2025 30-59 Days<br><br> <br>Past Due 60-89 Days<br><br> <br>Past Due 90 or More Days<br><br> <br>Past Due Total Past<br><br> <br>Due Current Total Loans<br><br> <br>Receivable Recorded<br><br> <br>Investment ><br><br> <br>90 Days and<br><br> <br>Accruing
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
(In Thousands)
Real Estate Loans:
One-to-Four Family Residential $ 174 $ 853 $ 963 $ 1,990 $ 172,988 $ 174,978 $ 252
Commercial 99 - 967 1,066 137,854 138,920 -
Multi-Family Residential - - - - 32,283 32,283 -
Land 17 - - 17 30,037 30,054 -
Construction - - - - 11,226 11,226 -
Equity and Second Mortgage - - 142 142 2,378 2,520 -
Equity Lines of Credit 48 - 225 273 20,081 20,354 -
Commercial Loans 8 - 38 46 54,092 54,138 -
Consumer Loans 29 - - 29 1,091 1,120 -
Total $ 375 $ 853 $ 2,335 $ 3,563 $ 462,030 $ 465,593 $ 252

There was no interest income recognized on non-accrual loans during the Nine months ended March 31, 2026, or the year ended June 30, 2025. If the non-accrual loans had been accruing interest at their original contracted rates, gross interest income that would have been recorded for the Nine months ended March 31, 2026 and the year ended June 30, 2025 was approximately $109,000 and $113,000, respectively.

22

Index

The change in the allowance for credit losses by loan portfolio class and recorded investment in loans for the Nine months ended March 31, 2026 and year ended June 30, 2025 was as follows:

March 31, 2026 Real Estate Loans
1-4 Family Residential Commercial Multi-Family Land Construction Home Equity<br><br> <br>Loans and<br><br> <br>Lines of<br><br> <br>Credit Commercial Loans Consumer Loans Total
(In Thousands)
Allowance for credit losses:
Beginning Balances $ 2,202 $ 1,202 $ 113 $ 165 $ 74 $ 182 $ 538 $ 8 $ 4,484
Charge-Offs - (205 ) - (10 ) - - - (2 ) (217 )
Recoveries 1 41 - 1 - 14 2 3 62
Current Provision (24 ) 227 (5 ) 228 (31 ) 20 (23 ) 29 421
Ending Balances $ 2,179 $ 1,265 $ 108 $ 384 $ 43 $ 216 $ 517 $ 38 $ 4,750
June 30, 2025 Real Estate Loans
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
1-4 Family Residential Commercial Multi-Family Land Construction Home Equity Loans and Lines of Credit Commercial Loans Consumer Loans Total
(In Thousands)
Allowance for credit losses:
Beginning Balances $ 2,346 $ 1,088 $ 130 $ 175 $ 103 $ 165 $ 548 $ 19 $ 4,574
Charge-Offs (34 ) (244 ) - - - (24 ) (2 ) (19 ) (323 )
Recoveries 351 - - 1 - 5 2 - 359
Current Provision (461 ) 358 (17 ) (11 ) (29 ) 36 (10 ) 8 (126 )
Ending Balances $ 2,202 $ 1,202 $ 113 $ 165 $ 74 $ 182 $ 538 $ 8 $ 4,484

23

Index

The Company held loans that were individually evaluated for credit losses at March 31, 2026 and June 30, 2025 for which the repayment, on the basis of our assessment at the reporting date, is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. The ACL for these collateral-dependent loans is primarily based on the fair value of the underlying collateral at the reporting date. The following describes the types of collateral that secure collateral dependent loans:

• One-to-four-family first mortgages are primarily secured by first liens on residential real estate.
• Commercial real estate loans are primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including self-storage facilities, hotels and restaurants.
--- ---
• Multi-family loans are primarily secured by residential property that include five or more housing units.
--- ---
• Construction and land loans are primarily secured by residential and commercial properties, which are under construction and/or redevelopment, and by raw land.
--- ---
• Home equity loans and lines are primarily secured by first and junior liens on residential real estate.
--- ---
• Commercial and industrial loans considered collateral dependent are primarily secured by accounts receivable, inventory and equipment.
--- ---
• Consumer loans considered collateral dependent are primarily secured by titled vehicles.
--- ---

The following table presents loans individually evaluated for impairment, segregated by class of loans, as of March 31, 2026 and June 30, 2025:

March 31, 2026 June 30, 2025
Loan Balance Specific Allocations Loan Balance Specific Allocations
(In Thousands)
Real Estate Loans:
One-to-Four Family Residential $ 3,724 $ 298 $ 2,234 $ 97
Commercial 1,956 - 1,081 102
Multi-Family Residential - - - -
Land 81 3 115 4
Construction - - - -
Home Equity Loans and Lines of Credit 455 - 367 -
Commercial Loans 33 2 45 2
Consumer Loans 26 24 15 1
Total $ 6,275 $ 327 $ 3,857 $ 206

The Bank has no commitments to loan additional funds to borrowers whose loans were previously in non-accrual status. As of March 31, 2026, there were no residential loans in the process of foreclosure.

As of March 31, 2026, there were no loans whose terms were modified for borrowers who may be experiencing financial difficulties.

At March 31, 2026 and June 30, 2025, accrued interest receivable on loans was $1.737 million and $1.624 million, respectively, and included within accrued interest receivable on the consolidated balance sheets.

4.          Deposits

Deposits at March 31, 2026 and June 30, 2025 consist of the following classifications:

March 31, 2026 June 30, 2025
(In Thousands)
Non-interest bearing accounts $ 139,110 $ 122,416
NOW accounts 64,439 67,119
Money market accounts 69,070 73,771
Savings accounts 92,773 95,627
Certificates of deposit 209,040 187,357
Total deposits $ 574,432 $ 546,290

24

Index

5.          Earnings Per Share

Basic earnings per common share is computed based on the weighted average number of shares outstanding. Diluted earnings per share is computed based on the weighted average number of shares outstanding and common share equivalents that would arise from the exercise of dilutive securities. Earnings per share for the three and Nine months ended March 31, 2026 and 2025 were calculated as follows:

Three Months Ended Nine Months Ended
March 31, March 31,
2026 2025 2026 2025
(In Thousands, Except Per Share Data)
Net Income $ 1,472 $ 748 $ 4,746 $ 2,708
Weighted average shares outstanding - basic 3,017 3,062 3,016 3,063
Effect of dilutive common stock equivalents 53 26 41 18
Adjusted weighted average shares outstanding - diluted 3,070 3,088 3,057 3,081
Basic earnings per share $ 0.49 $ 0.24 $ 1.57 $ 0.88
Diluted earnings per share $ 0.48 $ 0.24 $ 1.55 $ 0.88

For the three months ended March 31, 2026 and 2025, there were weighted average outstanding options to purchase 277,174 and 317,700 shares, respectively, at a weighted average exercise price of $13.11 and $11.85 per share, respectively, and for the Nine months ended March 31, 2026 and 2025, there were weighted average outstanding options to purchase 284,476 and 317,751 shares, respectively, at a weighted average exercise price of $12.38 and $11.84 per share, respectively.  For the quarter ended March 31, 2026 and 2025, 48,326 options and 25,696 options, respectively, were included in the computation of diluted earnings per share. For the Nine month period ended March 31, 2026 and 2025, 41,140 options and 18,722 options, respectively, were included in the computation of diluted earnings per share.

The following table presents the components of weighted average outstanding shares for purposes of calculating earnings per share:

Three Months Ended Six Months Ended
March 31, March 31,
2026 2025 2026 2025
(In Thousands, Except Per Share Data)
Average common shares issued 6,125 6,125 6,125 6,125
Average unearned ESOP shares (57 ) (69 ) (60 ) (74 )
Average Company stock purchased (3,051 ) (2,994 ) (3,049 ) (2,988 )
Weighted average shares outstanding 3,017 3,062 3,016 3,063

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6.          Stock-Based Compensation

Stock Incentive Plans

On November 12, 2014, the stockholders of the Company approved the adoption of the Company’s 2014 Stock Incentive Plan (the “2014 Stock Incentive Plan”).  On January 31, 2024, the Company granted 4,000 stock options to a key employee, vesting ratably over three years commencing February 1, 2024.  On July 24, 2024, the Company granted 1,600 plan share awards and a total of 23,000 stock options to directors, officers and key employees vesting ratably over five years. The 2014 Stock Incentive Plan cost is recognized over the five-year vesting period. A total of 117,600 stock options granted on October 26, 2015, that were due to expire on October 26, 2025, were exercised in October 2025.  The 2014 Stock Incentive Plan terminated on August 13, 2024; however, the 1,280 unvested plan share awards and 36,000 outstanding options as of March 31, 2026, will remain in effect for the remainder of their five-year vesting and original ten-year terms, respectively.

On November 13, 2019, the stockholders of the Company approved the adoption of the Company’s 2019 Stock Incentive Plan (the “2019 Stock Incentive Plan”).  On July 24, 2024, the Company granted 1,600 stock options to a key employee vesting ratably over five years. The 2019 Stock Incentive Plan costs are recognized over the five-year vesting period. As of March 31, 2026, there are no plan share awards and 800 stock options available for future grant under the 2019 Stock Incentive Plan.  There were no plan share awards and 144,704 outstanding options as of March 31, 2026, under the 2019 Stock Incentive Plan.

On November 19, 2025, the stockholders of the Company approved the adoption of the Company’s 2025 Stock Incentive Plan (the “2025 Stock Incentive Plan,” together with the 2014 Stock Incentive Plan and the 2019 Stock Incentive Plan, the “Stock Incentive Plans”) which provides for a total of 125,000 shares reserved for future issuance as stock awards or stock options. No more than 31,250 shares, or 25%, may be granted as stock awards. The balance of the plan is reserved for stock option awards.  On December 18, 2025, the Company granted a total of 31,250 plan share awards and a total of 92,750 stock options to directors, officers and key employees vesting ratably over five years. The 2025 Stock Incentive Plan costs are recognized over the five-year vesting period. As of March 31, 2026, there are no plan share awards and 1,000 stock options available for future grant under the 2025 Stock Incentive Plan.

For the three months ended March 31, 2026 and 2025, the Company recognized compensation expense of $5,000 and $54,000, respectively, related to its Stock Incentive Plans. For the nine months ended March 31, 2026 and 2025, compensation expense charged to operations for these plans was $93,000 and $168,000, respectively.

7.          Related Party Transactions

In the ordinary course of business, the Bank makes loans to its directors and officers. These loans are made on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other customers and do not involve more than normal credit risk or present other unfavorable features. Certain directors and executive officers were indebted to the Bank in the approximate aggregate amount of $4.720 million and $4.383 million at March 31, 2026 and June 30, 2025.

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8.          Fair Value Disclosures

The following disclosure is made in accordance with the requirements of ASC 825, Financial Instruments. Financial instruments are defined as cash and

  contractual rights and obligations that require settlement, directly or indirectly, in cash. In cases where quoted market prices are not available, fair values have been estimated using the present value of future cash flows or other valuation
  techniques. The results of these techniques are highly sensitive to the assumptions used, such as those concerning appropriate discount rates and estimates of future cash flows, which require considerable judgment. Accordingly, estimates presented
  herein are not necessarily indicative of the amounts the Company could realize in a current settlement of the underlying financial instruments.

ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. These disclosures should not be interpreted as representing an aggregate measure of the underlying value of the Company.

The following methods and assumptions were used by the Company in estimating fair values of financial instruments:

Cash and Cash Equivalents

The carrying amount approximates the fair value of cash and cash equivalents.

Investment Securities

Fair values for investment securities, including mortgage-backed securities, are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying values of restricted or non-marketable equity securities approximate their fair values. The carrying amount of accrued investment income approximates its fair value.

Mortgage Loans Held-for-Sale

Because these loans are normally disposed of within ninety days of origination, their carrying value closely approximates the fair value of such loans.

Loans Receivable

For variable-rate loans that re-price frequently and with no significant changes in credit risk, fair value approximates the carrying value. Fair values for other loans are estimated using the discounted value of expected future cash flows. Interest rates used are those being offered currently for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest receivable approximates its fair value.

Other Real Estate Owned

Other real estate owned, which is obtained through the foreclosure process, is valued utilizing the appraised collateral value. Collateral values are estimated using level II inputs based on observable market data or Level III inputs based on customizing discounting criteria.

Deposit Liabilities

The fair values for demand deposit accounts are, by definition, equal to the amount payable on demand at the reporting date, that is, their carrying amounts. Fair values for other deposit accounts are estimated using the discounted value of expected future cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities.

Advances from Federal Home Loan Bank and Other Borrowings

The carrying amount of short-term borrowings approximates their fair value. The fair value of long-term debt is estimated using discounted cash flow analyses based on current incremental borrowing rates for similar borrowing arrangements.

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Index

At March 31, 2026 and June 30, 2025, the carrying amount and estimated fair values of the Company’s financial instruments were as follows:

March 31, 2026
Carrying<br><br> <br>Value Estimated<br><br> <br>Fair Value Level 1 Level 2 Level 3
(In Thousands)
Financial assets
Cash and cash equivalents $ 28,943 $ 28,943 $ 28,943 $ - $ -
Securities available-for-sale 40,975 40,975 - 40,975 -
Securities held-to-maturity 56,764 47,726 - 47,726 -
Other securities 940 940 - - 940
Loans held-for-sale 2,745 2,745 - 2,745 -
Loans receivable, net 478,925 460,017 - - 460,017
Financial liabilities
Deposits 574,432 572,857 - 572,857 -
Other borrowings 3,556 3,556 - 3,556 -
June 30, 2025
--- --- --- --- --- --- --- --- --- --- ---
Carrying<br><br> <br>Value Estimated<br><br> <br>Fair Value Level 1 Level 2 Level 3
(In Thousands)
Financial assets
Cash and cash equivalents $ 17,347 $ 17,347 $ 17,347 $ - $ -
Securities available-for-sale 34,246 34,246 - 34,246 -
Securities held-to-maturity 61,334 51,139 - 51,139 -
Other securities 650 650 - - 650
Loans held-for-sale 1,540 1,540 - 1,540 -
Loans receivable, net 461,004 440,812 - - 440,812
Financial liabilities
Deposits 546,290 544,944 - 544,944 -
Other borrowings 4,000 4,000 - 4,000 -

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Index

The Company follows the guidance of FASB ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 affirms a framework for measuring fair

  value and expands disclosures about fair value measurements.

ASC 820 was issued to establish a uniform definition of fair value. The definition of fair value is market-based as opposed to company-specific and includes the following:

• Defines fair value as the price that would be received to sell an asset or paid to transfer a liability, in either case, through an orderly transaction between market participants at a measurement date and establishes a framework for<br> measuring fair value;
• Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date;
--- ---
• Nullifies the guidance in EITF 02-3, which required the deferral of profit at inception of a transaction involving a derivative financial instrument in the absence of observable data supporting the valuation technique;
--- ---
• Eliminates large position discounts for financial instruments quoted in active markets and requires consideration of the company’s creditworthiness when valuing liabilities; and
--- ---
• Expands disclosures about instruments that are measured at fair value.
--- ---

The standard establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy favors the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 – Fair value is based upon quoted prices unadjusted for identical assets or liabilities in active markets in which the Company can participate.
• Level 2 – Fair value is based upon (a) quoted prices for similar assets or liabilities in active markets; (b) quoted prices for identical or similar assets or liabilities in markets that are not active, that is, markets in which there are<br> few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly; (c) inputs other than quoted prices<br> that are observable for the asset or liability; or (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means.
--- ---
• Level 3 – Fair value is based upon inputs that are unobservable for the asset or liability.  These inputs reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability<br> (including assumptions about risk).  These inputs are developed based on the best information available in the circumstances, which include the Company’s own data. The Company’s own data used to develop unobservable inputs are adjusted if<br> information indicates that market participants would use different assumptions.
--- ---

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The preceding methods described may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used during the Nine months ended March 31, 2026.

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Index

Fair values of assets and liabilities measured on a recurring basis at March 31, 2026 and June 30, 2025 are as follows:

Fair Value Measurements
March 31, 2026 (Level 1) (Level 2) (Level 3) Total
(In Thousands)
Available-for-Sale
Mortgage-backed securities: residential $ - $ 40,975 $ - $ 40,975
Total available-for-sale $ - $ 40,975 $ - $ 40,975
Fair Value Measurements
--- --- --- --- --- --- --- --- ---
June 30, 2025 (Level 1) (Level 2) (Level 3) Total
(In Thousands)
Available-for-Sale
Mortgage-backed securities: residential $ - $ 33,881 $ - $ 33,881
State and political subdivision - 365 - 365
Total available-for-sale $ - $ 34,246 $ - $ 34,246

Fair values of assets and liabilities measured on a non-recurring basis at March 31, 2026 and June 30, 2025 are as follows:

Fair Value Measurements
March 31, 2026 (Level 1) (Level 2) (Level 3) Total
(In Thousands)
Assets:
Impaired Loans $ - $ - $ 2,747 $ 2,747
Other Real Estate Owned - - 814 814
Total $ - $ - $ 3,561 $ 3,561
Fair Value Measurements
--- --- --- --- --- --- --- --- ---
June 30, 2025 (Level 1) (Level 2) (Level 3) Total
(In Thousands)
Assets:
Impaired Loans $ - $ - $ 2,502 $ 2,502
Other Real Estate Owned - - 970 970
Total $ - $ - $ 3,472 $ 3,472

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Index

9.          Leases

A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches with terms extending through 2058. Substantially all of the Company’s leases are classified as operating leases, and therefore, were previously not recognized on the Company’s consolidated statements of condition. Right-of-use (“ROU”) assets and corresponding lease liabilities are recognized on the consolidated statements of condition under other assets and other accrued expenses and liabilities, respectively.

The calculated amount of the ROU assets and lease liabilities in the table below are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term.

At March 31, 2026 and June 30, 2025, the carrying amounts of the ROU assets and corresponding lease liabilities were as follows:

Location in the Consolidated Balance Sheets March 31,<br> <br>2026 June 30,<br> <br>2025

| Operating lease right-of-use assets | Other assets | $ | 788 | | $ | 799 | |

| Operating lease liabilities | Other liabilities | $ | 852 | | $ | 856 | |

| Weighted-average remaining lease term (in years) | | | 32.7 | | | 33.4 | |

| Weighted-average discount rate | | | 3.00 | % | | 3.00 | % |

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HOME FEDERAL BANCORP, INC. OF LOUISIANA

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The Company’s results of operations are primarily dependent on the results of Home Federal Bank (the “Bank”), its wholly owned subsidiary. The Bank’s results of operations depend, to a large extent, on net interest income, which is the difference between the income earned on its loan and investment portfolios and the cost of funds, consisting of the interest paid on deposits and borrowings. Results of operations are also affected by provisions for loan losses and loan sale activities. Non-interest expense principally consists of compensation and employee benefits, office occupancy and equipment expense, data processing, and other expenses. Our results of operations are also significantly affected by general economic and competitive conditions, particularly changes in interest rates, government policies, and actions of regulatory authorities. Future changes in applicable law, regulations, or government policies may materially impact our financial condition and results of operations.

The Bank operates from its main office in Shreveport, Louisiana and ten full-service branch offices located in Shreveport, Bossier City, Benton and Minden, Louisiana. The Company’s primary market area is the Shreveport-Bossier City-Minden combined statistical area.

Critical Accounting Policies

The accounting and financial reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Accordingly, the consolidated financial statements require certain estimates, judgments, and assumptions, which are believed to be reasonable, based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the periods presented. Critical accounting policies comprise those that management believes are the most critical to aid in fully understanding and evaluating our reported financial results. These policies require numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the period or in future periods.

There were no changes made to the Company’s internal control over financial reporting that occurred during the quarter ended March 31, 2026 that materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Allowance for Credit Losses.  The Company has identified the calculation of the allowance for credit losses as a critical accounting policy, due to the higher

  degree of judgment and complexity than its other significant accounting policies.

Income Taxes. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax

  asset or liability is determined based on the tax effects of the temporary differences between the book and tax basis of the various assets and liabilities and gives current recognition to changes in tax rates and laws. The realization of our
  deferred tax assets principally depends upon our achieving projected future taxable income. We may change our judgments regarding future profitability due to future market conditions and other factors. We may adjust our deferred tax asset balances,
  if our judgments change.

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Index

Discussion of Financial Condition Changes from June 30, 2025 to March 31, 2026

General

Total assets increased $32.157 million, or 5.3%, from $609.492 million at June 30, 2025 to $641.649 million at March 31, 2026. The increase in assets resulted from increases in net loans receivable of $17.921 million, or 3.9%, from $461.004 million at June 30, 2025 to $478.925 million at March 31, 2026, cash and cash equivalents of $11.596 million, or 66.8%, from $17.347 million at June 30, 2025 to $28.943 million at March 31, 2026, investment securities of $2.449 million, or 2.5%, from $96.230 million at June 30, 2025 to $98.679 million at March 31, 2026, loans-held-for-sale of $1.205 million, or 78.2%, from $1.540 million at June 30, 2025 to $2.745 million at March 31, 2026, accrued interest receivable of $86,000, or 4.7%, from $1.836 million at June 30, 2025 to $1.922 million at March 31, 2026, and bank owned life insurance of $86,000, or 1.2%, from $6.926 million at June 30, 2025 to $7.012 million at March 31, 2026, partially offset by decreases in premises and equipment of $763,000, or 4.4%, from $17.266 million at June 30, 2025 to $16.503 million at March 31, 2026, core deposit intangible of $188,000, or 20.5%, from $915,000 at June 30, 2025 to $727,000 at March 31, 2026, real estate owned of $156,000, or 16.1%, from $970,000 at June 30, 2025 to $814,000 at March 31, 2026, other assets of $42,000, or 3.2%, from $1.305 million at June 30, 2025 to $1.263 million at March 31, 2026, and deferred tax asset of $37,000, or 3.2%, from $1.163 million at June 30, 2025 to $1.126 million at March 31, 2026.

Cash and Cash Equivalents

Cash and cash equivalents increased $11.596 million, or 66.8%, from $17.347 million at June 30, 2025 to $28.943 million at March 31, 2026. The increase in cash and cash equivalents was primarily due to increases in deposits.

Loans Receivable, Net

Loans receivable, net, increased by $17.921 million, or 3.9%, to $478.925 million at March 31, 2026 compared to $461.004 million at June 30, 2025. The increase in loans receivable, net was primarily due to increases in land loans of $25.380 million, commercial real estate loans of $2.489 million, commercial non-real estate loans of $2.217 million, equity line-of-credit loans of $1.013 million, and equity and second mortgage loans of $393,000, partially offset by decreases in one-to-four-family residential loans of $6.387 million, construction loans of $5.060 million, multi-family residential loans of $1.483 million, and consumer loans of $385,000.

Loans Held-for-Sale

Loans held-for-sale increased $1.205 million, from $1.540 million at June 30, 2025 to $2.745 million at March 31, 2026.The increase in loans held-for-sale is primarily due to normal timing differences in our loan origination and sale activities.

Investment Securities

Investment securities amounted to $98.679 million at March 31, 2026, compared to $96.230 million at June 30, 2025, an increase of $2.449 million, or 2.5%. The increase in investment securities was primarily due to security purchases of $10.852 million and a $173,000 decrease in market value losses on available-for-sale securities, partially offset by $9.127 million of principal repayments on mortgage backed securities.

Premises and Equipment, Net

Premises and equipment, net decreased $763,000, or 4.4%, to $16.503 million at March 31, 2026 compared to $17.266 million at June 30, 2025, due to depreciation.

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Index

Asset Quality

At March 31, 2026, the Company had $4.197 million of non-performing assets (defined as non-accruing loans, accruing loans 90 days or more past due, and other real estate owned) compared to $3.305 million of non-performing assets at June 30, 2025, consisting of eighteen one-to-four family residential loans, three home equity loans, two commercial non-real estate loans, one commercial real estate loan, one consumer loan, and one commercial real estate property in other real estate owned at March 31, 2026, compared to six one-to-four family residential loans, two home equity loans, three commercial non-real estate loans, two commercial real estate loans and one single-family residence in other real estate owned at June 30, 2025. At March 31, 2026 the Company had seventeen one-to-four family residential loans, three home equity loans, two commercial non-real estate loans, two consumer loans, and one commercial real estate loan classified as substandard, compared to eight one-to-four family residential loans, five commercial non-real estate loans, two home equity loans, two commercial real estate loans and one consumer loan classified as substandard at June 30, 2025.  There were no loans classified as doubtful at March 31, 2026 or June 30, 2025.

Total Liabilities

Total liabilities increased $29.358 million, or 5.3%, from $554.287 million at June 30, 2025 to $583.645 million at March 31, 2026. The increase in liabilities resulted from increases in total deposits of $28.142 million, or 5.2%, from $546.290 million at June 30, 2025 to $574.432 million at March 31, 2026, and advances from the Federal Home Loan Bank of Dallas of $2.000 million, from none at June 30, 2025 to $2.000 million at March 31, 2026, partially offset by decreases in other borrowings of $444,000, or 11.1%, from $4.000 million at June 30, 2025 to $3.556 million at March 31, 2026, other accrued expenses and liabilities of $280,000, or 8.1%, from $3.454 million at June 30, 2025 to $3.174 million at March 31, 2026, and advances from borrowers for taxes and insurance of $60,000, or 11.0%, from $543,000 at June 30, 2025 to $483,000 at March 31, 2026. The increase in deposits resulted from increases in certificates of deposit of $21.683 million, or 11.6%, from $187.357 million at June 30, 2025 to $209.040 million at March 31, 2026, and non-interest deposits of $16.694 million, or 13.6%, from $122.416 million at June 30, 2025 to $139.110 million at March 31, 2026, partially offset by decreases in money market deposits of $4.701 million, or 6.4%, from $73.771 million at June 30, 2025 to $69.070 million at March 31, 2026, savings deposits of $2.854 million, or 3.0%, from $95.627 million at June 30, 2025 to $92.773 million at March 31, 2026, and NOW accounts of $2.680 million, or 4.0%, from $67.119 million at June 30, 2025 to $64.439 million at March 31, 2026.

Stockholders’ Equity

Stockholders’ equity increased $2.799 million, or 5.1%, from $55.205 million at June 30, 2025 to $58.004 million at March 31, 2026. The increase in stockholders’ equity resulted from net income for the nine months ended March 31, 2026 of $4.746 million, proceeds from the issuance of common stock from the exercise of stock options of $1.769 million, a decrease in the Company’s accumulated other comprehensive loss of $136,000, and the vesting of restricted stock awards, stock options, and the release of employee stock ownership plan shares totaling $290,000, partially offset by stock repurchases of $2.892 million and dividends paid totaling $1.250 million.

Regulatory Capital

The Bank is required to meet minimum capital standards promulgated by the Office of the Comptroller of the Currency (“OCC”). At March 31, 2026, Home Federal Bank’s regulatory capital was well in excess of the minimum capital requirements. At March 31, 2026, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.05%, 13.05%, 14.1%, 9.44%, and 9.44%, respectively.

34

Index

Comparison of Operating Results for the Three and Six Months Ended March 31, 2026 and 2025

General

The increase in net income for the three months ended March 31, 2026, as compared to the same period in 2025, resulted from an increase of $733,000, or 15.7%, in net interest income, a decrease of $282,000, or 6.6%, in non-interest expense, and an increase of $83,000, or 15.4%, in non-interest income, partially offset by an increase of $263,000, or 4,383.3%, in the provision for credit losses, and an increase of $111,000, or 53.6%, in the provision for income taxes.

The increase in net income for the nine months ended March 31, 2026, as compared to the same period in 2025 resulted primarily from an increase of $2.346 million, or 17.1%, in net interest income, an increase of $583,000, or 44.0%, in non-interest income, and a decrease of $484,000, or 4.0%, in non-interest expense, partially offset by an increase of $782,000, or 199.5%, in provision for income taxes and an increase of $593,000, or 344.8%, in the provision for credit losses.

Net Interest Income

The increase in net interest income for the three months ended March 31, 2026, as compared to the same period in 2025, resulted from an increase of $590,000, or 7.9%, in total interest income and a decrease of $143,000, or 5.2%, in total interest expense. The Company’s average interest rate spread was 3.13% for the three months ended March 31, 2026, compared to 2.66% for the three months ended March 31, 2025. The Company’s net interest margin was 3.75% for the three months ended March 31, 2026, compared to 3.33% for the three months ended March 31, 2025.

The increase in net interest income for the nine months ended March 31, 2026, as compared to the same period in 2025, was primarily due to an increase of $1.264 million, or 5.5%, in total interest income, and a decrease of $1.082 million, or 11.9%, in total interest expense. The Company’s average interest rate spread was 3.04% for the nine months ended March 31, 2026, compared to 2.44% for the nine months ended March 31, 2025. The Company’s net interest margin was 3.68% for the nine months ended March 31, 2026, compared to 3.14% for the nine months ended March 31, 2025.

Provision for Credit Losses

The provision for credit losses for the three months ended March 31, 2026, compared to the same period in 2025, increased by $263,000 primarily due to an increase in net loans receivable. The provision for credit losses for the nine months ended March 31, 2026, compared to the same period in 2025, increased by $593,000, reflecting a change from a $172,000 recovery in the prior year period to a $421,000 provision in the current period, primarily due to higher net loans receivable.

Non-interest Income

The $83,000 increase in non-interest income for the three months ended March 31, 2026, compared to the same period in 2025, resulted from an increase of $49,000 in gain on sale of loans, an increase of $42,000 in service charges on deposit accounts, and an increase of $3,000 in other non-interest income, partially offset by an increase of $10,000 in loss on sale of real estate, and a decrease of $1,000 in income on bank owned life insurance. The $583,000 increase in non-interest income for the nine months ended March 31, 2026, compared to the same period in 2025, resulted from a decrease of $248,000 in loss on sale of real estate, an increase of $224,000 in gain on sale of loans, an increase of $118,000 in service charges on deposit accounts, and a decrease of $6,000 in loss on sale of securities, partially offset by a decrease of $12,000 in other non-interest income, and a decrease of $1,000 in income on bank owned life insurance.

35

Index

Non-interest Expense

The $282,000 decrease in non-interest expense for the three months ended March 31, 2026, compared to the same period in 2025, resulted from decreases of $203,000 in data processing, $37,000 in audit and examination fees, $27,000 in other expenses, $15,000 in franchise and bank shares tax, $13,000 in amortization core deposit intangible, $11,000 in loan and collection, $9,000 in professional fees, and $3,000 in occupancy and equipment, partially offset by increases in $25,000 in compensation and benefits, $9,000 in advertising, and $2,000 in deposit insurance premium. The $484,000 decrease in non-interest expense for the nine months ended March 31, 2026, compared to the same period in 2025, resulted from decreases of $255,000 in compensation and benefits, $181,000 in audit and examination fees, $103,000 in data processing, $39,000 in advertising, $28,000 in amortization core deposit intangible, and $25,000 in professional fees, partially offset by increases in $98,000 in other expenses, $22,000 in occupancy and equipment, $14,000 in deposit insurance premium, $8,000 in loan and collection, and $5,000 in franchise and bank shares tax.

The aggregate compensation expense recognized by the Company for its stock options, share awards and employee stock ownership plan, amounted to $57,000 and $92,000 for the three months ended March 31, 2026 and March 31, 2025, respectively. The aggregate compensation expense recognized by the Company for its stock options, share awards and employee stock ownership plan, amounted to $231,000 and $348,000 for the nine months ended March 31, 2026 and March 31, 2025, respectively.

The Louisiana bank shares tax is assessed on the Bank’s equity and earnings. For the three months ended March 31, 2026, the Company recognized franchise and bank shares tax expense of $120,000 compared to $135,000, for the same period in 2025. For the nine months ended March 31, 2026, the Company recognized franchise and bank shares tax expense of $309,000 compared to $304,000, for the same period in 2025.

Income Taxes

There was an income tax expense of $318,000 and $1.174 million for the three and six months ended March 31, 2026, respectively, resulting in an effective tax rate of 17.77% and 19.83%, respectively. There was an income tax expense of $207,000 and $392,000 for the three and six months ended March 31, 2025, respectively, resulting in an effective tax rate of 21.7% and 12.6%, respectively.

36

Index

Average Balances, Net Interest Income, Yields Earned, and Rates Paid

The following tables show for the periods indicated the total dollar amount of interest from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Tax-exempt income and yields have not been adjusted to a tax-equivalent basis. All average balances are based on monthly balances. Management does not believe that the monthly averages differ significantly from what the daily averages would be.

Three Months Ended March 31,
2026 2025
Average<br><br> <br>Balance Interest Average<br><br> <br>Yield/Rate Average<br><br> <br>Balance Interest Average<br><br> <br>Yield/Rate
(Dollars In Thousands)
Interest-earning assets:
Loans receivable $ 478,937 $ 7,361 6.23 % $ 459,828 $ 6,740 5.94 %
Investment securities 98,514 580 2.39 95,706 576 2.44
Interest-earning deposits 7,613 74 3.94 14,513 109 3.05
Total interest-earning assets $ 585,064 $ 8,015 5.56 % $ 570,047 $ 7,425 5.28 %
Non-interest-earning assets 38,833 40,361
Total assets $ 623,897 $ 610,408
Interest-bearing liabilities:
Savings accounts $ 92,604 $ 339 1.48 % $ 94,375 $ 408 1.75 %
NOW accounts 65,736 191 1.18 69,562 198 1.15
Money market accounts 67,553 317 1.90 75,882 376 2.01
Certificate accounts 204,379 1,686 3.35 182,721 1,693 3.76
Total interest-bearing deposits 430,272 2,533 2.39 422,540 2,675 2.57
Other borrowings 3,849 62 6.53 4,000 76 7.71
FHLB advances 1,419 13 3.72 - - -
Total interest-bearing liabilities $ 435,540 $ 2,608 2.43 % $ 426,540 $ 2,751 2.62 %
Non-interest-bearing liabilities:
Non-interest-bearing demand accounts 126,094 125,438
Other liabilities 3,643 4,120
Total liabilities 565,277 556,098
Total stockholders’ equity (1) 58,620 54,310
Total liabilities and stockholders’ equity $ 623,897 $ 610,408
Net interest-earning assets $ 149,524 $ 143,507
Net interest income; average interest rate spread(2) $ 5,407 3.13 % $ 4,674 2.66 %
Net interest margin(3) 3.75 % 3.33 %
Average interest-earning assets to average interest-bearing liabilities 134.33 % 113.64 %
(1) Includes retained earnings and accumulated other comprehensive loss.
(2) Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate on interest-bearing liabilities.
--- ---
(3) Net interest margin is net interest income divided by net average interest-earning assets.
--- ---

37

Index

Nine Months Ended March 31,
2026 2025
Average<br><br> <br>Balance Interest Average<br><br> <br>Yield/Rate Average<br><br> <br>Balance Interest Average<br><br> <br>Yield/Rate
(Dollars In Thousands)
Interest-earning assets:
Loans receivable $ 470,696 $ 21,971 6.22 % $ 460,972 $ 20,426 5.90 %
Investment securities 97,449 1,696 2.32 96,395 1,619 2.24
Interest-earning deposits 12,781 421 4.39 23,326 779 4.45
Total interest-earning assets $ 580,926 $ 24,088 5.52 % $ 580,693 $ 22,824 5.24 %
Non-interest-earning assets 38,931 39,974
Total assets $ 619,857 $ 620,667
Interest-bearing liabilities:
Savings accounts $ 92,985 $ 1,099 1.57 % $ 89,171 $ 1,134 1.69 %
NOW accounts 65,617 564 1.14 71,022 623 1.17
Money market accounts 70,213 1,036 1.97 76,828 1,269 2.20
Certificate accounts 199,346 5,120 3.42 191,936 5,825 4.04
Total interest-bearing deposits 428,161 7,819 2.43 428,957 8,851 2.75
Other borrowings 3,951 211 7.11 4,832 274 7.55
FHLB advances 466 13 3.72 - - -
Total interest-bearing liabilities $ 432,578 $ 8,043 2.48 % $ 433,789 $ 9,125 2.80 %
Non-interest-bearing liabilities:
Non-interest-bearing demand accounts 125,688 129,536
Other liabilities 4,282 4,670
Total liabilities 562,548 567,995
Total stockholders’ equity (1) 57,309 52,672
Total liabilities and stockholders’ equity $ 619,857 $ 620,667
Net interest-earning assets $ 148,348 $ 146,904
Net interest income; average interest rate spread(2) $ 16,045 3.04 % $ 13,699 2.44 %
Net interest margin(3) 3.68 % 3.14 %
Average interest-earning assets to average interest-bearing liabilities 134.29 % 133.87 %
(1) Includes retained earnings and accumulated other comprehensive loss.
(2) Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate on interest-bearing liabilities.
--- ---
(3) Net interest margin is net interest income divided by net average interest-earning assets.
--- ---

38

Index

Liquidity and Capital Resources

The Bank maintains levels of liquid assets deemed adequate by management. The Bank adjusts its liquidity levels to fund deposit outflows, repay its borrowings, and to fund loan commitments. The Bank also adjusts liquidity as appropriate to meet asset and liability management objectives.

The Bank’s primary sources of funds are deposits, amortization and prepayment of loans and mortgage-backed securities, maturities of investment securities and other short-term investments, loan sales, and earnings and funds provided from operations. While scheduled principal repayments on loans and mortgage-backed securities are a relatively predictable source of funds, deposit flows and loan prepayments are greatly influenced by general interest rates, economic conditions, and competition. The Bank sets the interest rates on its deposits to maintain a desired level of total deposits. In addition, the Bank invests excess funds in short-term interest-earning accounts and other assets which provide liquidity to meet lending requirements. The Bank’s deposit accounts with the Federal Home Loan Bank of Dallas amounted to $13.255 million at March 31, 2026.

A significant portion of the Bank’s liquidity consists of securities classified as available-for-sale and cash and cash equivalents. The Bank’s primary sources of cash are net income, principal repayments on loans and mortgage-backed securities, and increases in deposit accounts. If the Bank requires funds beyond its ability to generate them internally, borrowing agreements exist with the Federal Home Loan Bank of Dallas which provides an additional source of funds. At March 31, 2026, the Bank had $2.000 million in advances from the Federal Home Loan Bank of Dallas and had $133.653 million in borrowing capacity. Additionally, at March 31, 2026, the Bank was a party to a Master Purchase Agreement with First National Bankers Bank whereby Home Federal Bank may purchase Federal Funds from First National Bankers Bank in an amount not to exceed $19.900 million. There were no amounts purchased under this agreement as of March 31, 2026. At March 31, 2026, Home Federal Bancorp had a $3.556 million outstanding loan with First National Bankers Bank, which matures on February 5, 2034.

At March 31, 2026, the Bank had outstanding loan commitments of $63.339 million to originate loans and commitments under unused lines of credit of $13.989 million. At March 31, 2026, certificates of deposit scheduled to mature in less than one year totaled $136.253 million. Based on prior experience, management believes that a significant portion of such deposits will remain with us, although there can be no assurance that this will be the case. The Bank intends to utilize its high levels of liquidity to fund its lending activities. If additional funds are required to fund lending activities, Home Federal Bank intends to sell its securities classified as available-for-sale, as needed.

At March 31, 2026, Home Federal Bank exceeded each of its capital requirements with common equity tier 1, tier 1 capital, total capital, leverage, and tangible capital ratios of 13.05%, 13.05%, 14.1%, 9.44%, and 9.44%, respectively.

Off-Balance Sheet Arrangements

At March 31, 2026, the Company did not have any off-balance sheet arrangements as defined by Securities and Exchange Commission rules.

Impact of Inflation and Changing Prices

The financial statements and related financial data presented herein have been prepared in accordance with instructions to Form 10-Q which require the measurement of financial position and operating results in terms of historical dollars without considering changes in relative purchasing power over time due to inflation.

Unlike most industrial companies, virtually all of the Company’s assets and liabilities are monetary in nature. As a result, interest rates generally have a more significant impact on a financial institution’s performance than does the effect of inflation.

39

Index

Forward-Looking Statements

This Form 10-Q contains certain forward-looking statements and information relating to the Company that are based on the beliefs of management, as well as assumptions made by and information currently available to management. In addition, in those and other portions of this document the words “anticipate”, “believe”, “estimate”, “except”, “intend”, “should”, and similar expressions, or the negative thereof, as they relate to the Company or the Company’s management are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future looking events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary from those described herein as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.

In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this Form 10-Q, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Company’s loans, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosures Controls and Procedures. Under the supervision and with the participation of our management including our President

  and Chief Executive Officer (principal executive officer) and our Chief Financial Officer (principal financial officer), we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules
  13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) as of the end of the period covered by this report. Based upon that evaluation, the President and Chief Executive Officer and the Chief Financial Officer have concluded that, as of
  the end of the period covered by this report, our disclosure controls and procedures are effective to ensure that information required to be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934 is
  recorded, processed, summarized, and reported within the applicable time periods specified by the Securities and Exchange Commission’s rules and forms.

Changes in Internal Control over Financial Reporting. There has been no change in the Company’s internal control over financial reporting

  during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

40

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

PART II

ITEM 1. LEGAL PROCEEDINGS

The Company is not involved in any pending legal proceedings other than routine legal proceedings occurring in the ordinary course of business which involve amounts in the aggregate believed by management to be immaterial to the financial condition of the Company.

ITEM 1A. RISK FACTORS

Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)   Not applicable.

(b)   Not applicable.

(c)   Purchases of Equity Securities

The table below sets forth the Company’s repurchases of its common stock made during the quarter ended March 31, 2026, are set forth in the table below, including stock-for-stock option exercises.

Period Total Number of<br><br> <br>Shares Purchased Average Price Paid<br><br> <br>per Share Total Number of<br><br> <br>Shares Purchased<br><br> <br>as Part of Publicly<br><br> <br>Announced Plans<br><br> <br>or Programs Maximum Number<br><br> <br>of Shares That May<br><br> <br>Yet Be Purchased<br><br> <br>Under the Plans or<br><br> <br>Programs (a)
January 1, 2026 - January 31, 2026 14,500 $ 17.84 14,500 67,209
February 1, 2026 - February 28, 2026 5,000 18.99 5,000 62,209
March 1, 2026 - March 31, 2026 14,277 18.84 14,277 47,932
Total 33,777 $ 18.43 33,777 47,932

Notes to this table:

(a) On October 15, 2025, the Company announced that its Board of Directors approved the fourteenth stock repurchase program for the repurchase of up to 100,000 shares. The fourteenth stock repurchase program does not have an expiration<br> date.

41

Index

HOME FEDERAL BANCORP, INC. OF LOUISIANA

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Not applicable.

ITEM 6. EXHIBITS
No. Description
--- ---
31.1 Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
31.2 Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
32.0 Certification Pursuant to 18 U.S.C Section 1350
101.INS Inline XBRL Instance Document
101.SCH Inline XBRL Taxonomy Extension Schema Document
101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF Inline XBRL Taxonomy Extension Definitions Linkbase Document
104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

42

Index

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 thereunto duly authorized.

HOME FEDERAL BANCORP, INC. OF LOUISIANA
Date:   May 14, 2026 By: /s/ Brad Ezernack
Brad Ezernack
Executive Vice President and Chief Financial Officer
(Duly authorized officer and principal financial and accounting officer)

43

EXHIBIT 31.1

CERTIFICATIONS

I, James R. Barlow, Chairman of the Board, President and Chief Executive Officer, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Home Federal Bancorp, Inc. of Louisiana;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,<br> in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
--- ---
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial<br> condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
--- ---
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act<br> Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
--- ---

(a)        Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)        Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)        Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)        Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the<br> registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)       Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2026 /s/ James R. Barlow
James R. Barlow
Chairman of the Board, President and Chief Executive Officer
(Principal Executive Officer)

EXHIBIT 31.2

CERTIFICATIONS

I, Brad Ezernack, Executive Vice President and Chief Financial Officer, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Home Federal Bancorp, Inc. of Louisiana;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements<br> made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
--- ---
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial<br> condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
--- ---
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act<br> Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
--- ---

(a)       Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)      Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)      Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the<br> registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)     All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)      Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2026 /s/ Brad Ezernack
Brad Ezernack
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)

Exhibit 32.0

SECTION 1350 CERTIFICATIONS

The undersigned executive officers of Home Federal Bancorp, Inc. of Louisiana (the “Registrant”) hereby certify that the Registrant's Form 10-Q for the quarter ended March 31, 2026 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained therein fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: May 14, 2026 /s/ James R. Barlow
Name: James R. Barlow
Title: Chairman of the Board, President and Chief Executive Officer
(Principal Executive Officer)
Date: May 14, 2026 /s/ Brad Ezernack
Name: Brad Ezernack
Title: Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act has been provided to Home Federal Bancorp, Inc. of Louisiana and will be retained by Home Federal Bancorp, Inc. of Louisiana and furnished to the Securities and Exchange Commission or its staff upon request.

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