Stocks to Watch ? HopFed Bancorp Inc. (NASDAQ: HFBC)
HopFed Bancorp, Inc. operates through its fully owned subsidiary, Hopkinsville Federal Savings Bank (the Bank). It was established in May 1997 and since then served as a savings and loan holding company. The Banks is a federally chartered stock savings bank, with branch offices in Kentucky and Tennessee.
The Bank?s business is principally composed of attracting deposits from the general public, and investing such deposits in loans secured by single-family residential real estate and investment securities, including the United States Government and agency securities, municipal and corporate bonds, collateralized mortgages obligations (CMOs), and mortgage-backed securities. It also originates single-family residential/construction loans, and multi-family and commercial real estate loans, as well as loans secured by deposits, other consumer loans and commercial loans.
Lending Activities
Its loan portfolio consisted of one- to four-family, residential mortgage loans, other loans secured by real estate include non-residential real estate loans, which amounted to $255.3 million, or 41.9% of the loan portfolio.
The Bank also offers construction loans, consumer and commercial loans. It primarily originates residential mortgage loans with adjustable rates. The Bank?s one- to four-family loan portfolio consists of closed-end first and second mortgages, as well as opened-ended home equity lines of credit.
It also engages in construction lending involving loans to individuals for construction of one- to four-family residential housing, multi-family housing and non-residential real estate located within the Bank?s market area, with such loans converting to permanent financing upon completion of construction. The Bank also makes loans to qualified builders for the construction of one- to four-family residential housing located in established subdivisions in the Bank?s market area.
Investment Activities
Its investment activities include investments in the United States Government agency securities, municipal and corporate bonds, CMOs and mortgage-backed securities. The usual investments include federally sponsored agency mortgage pass-through and federally sponsored agency and mortgage-related securities.
Deposit Activity and Other Sources of Funds
The Bank?s primary sources of funds for lending, investment activities and general operational purposes are deposits. In addition to this, the Bank also gets funds from loan principal and interest repayments, maturities of investment securities and mortgage-backed securities and interest payments thereon. It attracts deposits mainly from within its market area by offering various deposit instruments, including money market accounts, passbook savings accounts, individual retirement accounts, and certificates of deposit that range in maturity from 3 months to 5 years.
HopFed Bancorp, Inc. (NASDAQ: HFBC) 52 week:? 4.98 ? 9.41 Mkt cap: 63.99M??? Shares: 7.49M
Tags: HFBC, HopFed Bancorp, HopFed Bancorp Inc., Stocks to watchSource: http://www.buypennystocks.com/penny-stocks-blog/stocks-to-watch-hopfed-bancorp-inc-hfbc
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