##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, DC 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended: December 31, 2010
 or
 o
    
    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
  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)
  (Registrants telephone number, including area code)
 (Former name, former address and former fiscal year, if changed since last report)
 þ o
 o o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ(Do not check if a smaller reporting company)
 o þ




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##### 



INDEX
 PagePART I FINANCIAL INFORMATIONItem 1: Financial Statements (Unaudited)Consolidated Statements of Financial Condition
    
    
    1Consolidated Statements of Income
    
    
    2Consolidated Statements of Changes in Stockholders Equity
    
    
    3Consolidated Statements of Cash Flows
    
    
    4Notes to Consolidated Financial Statements
    
    
    6Item 2: Managements Discussion and Analysis of Financial Condition and
Results of Operations
    
    
    17Item 3 Quantitative and Qualitative Disclosures About Market Risk
    
    
    22Item 4: Controls and Procedures
    
    
    22PART II OTHER INFORMATIONItem 1: Legal Proceedings
    
    
    22Item 1A: Risk Factors
    
    
    22Item 2: Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    22Item 3: Defaults Upon Senior Securities
    
    
    24Item 4: [Removed and Reserved]
    
    
    24Item 5: Other Information
    
    
    24Item 6: Exhibits
    
    
    24SIGNATURESExhibit 31.1Exhibit 31.2Exhibit 32.0




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HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
 (Unaudited)
 December 31,
    
    
    June 30,2010
    
    
    2010(In Thousands)ASSETSCash and Cash Equivalents (Includes Interest-Bearing
Deposits with Other Banks of $4,645 and $4,698 for
December 31, 2010 and June 30, 2010, Respectively)
    
    $
    36,406
    
    
    $
    8,837Securities Available-for-Sale
    
    
    51,163
    
    
    
    63,688Securities Held-to-Maturity
    
    
    1,785
    
    
    
    2,138Loans Held-for-Sale
    
    
    5,451
    
    
    
    13,403Loans Receivable, Net
    
    
    111,196
    
    
    
    93,056Accrued Interest Receivable
    
    
    620
    
    
    
    560Premises and Equipment, Net
    
    
    3,934
    
    
    
    3,049Other Assets
    
    
    388
    
    
    
    414Total Assets
    
    $
    210,943
    
    
    $
    185,145LIABILITIES AND STOCKHOLDERS EQUITYLIABILITIESDeposits
    
    
    132,979
    
    
    
    117,722Advances from Borrowers for Taxes and Insurance
    
    
    126
    
    
    
    205Advances from Federal Home Loan Bank of Dallas
    
    
    25,981
    
    
    
    31,507Other Accrued Expenses and Liabilities
    
    
    946
    
    
    
    1,425Deferred Tax Liability
    
    
    327
    
    
    
    921Total Liabilities
    
    
    160,359
    
    
    
    151,780STOCKHOLDERS EQUITYPreferred Stock  No Par Value; 10,000,000 Shares
Authorized; None Issued and Outstanding
    
    
    
    
    
    
    Common Stock  40,000,000 Shares of $.01 Par Value
Authorized; 3,045,913 Shares Issued; 3,045,913 Shares
and 3,050,244 Shares Outstanding at December 31, 2010 and
June 30, 2010, Respectively (1)
    
    
    32
    
    
    
    14Additional Paid-in Capital
    
    
    31,092
    
    
    
    13,655Treasury Stock, at Cost  0 Shares at December 31, 2010;
191,967 Shares at June 30, 2010 (1)
    
    
    
    
    
    
    (2,094
    )Unearned ESOP Stock
    
    
    (1,965
    )
    
    
    (826
    )Unearned RRP Trust Stock
    
    
    (29
    )
    
    
    (145
    )Retained Earnings
    
    
    20,356
    
    
    
    20,665Accumulated Other Comprehensive Income
    
    
    1,098
    
    
    
    2,096Total Stockholders Equity
    
    
    50,584
    
    
    
    33,365TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
    
    $
    210,943
    
    
    $
    185,145
 
 (1)
    
    Prior period per shares issued and outstanding figures were adjusted for comparability using
the conversion ratio of 0.9110 due to completion of second step offering on December 22, 2010.   1




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HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Six Months EndedDecember 31,
    
    
    December 31,2010
    
    
    2009
    
    
    2010
    
    
    2009(In Thousands, Except Per Share Data)INTEREST INCOMELoans, Including Fees
    
    $
    1,894
    
    
    $
    1,189
    
    
    $
    3,692
    
    
    $
    2,228Investment Securities
    
    
    12
    
    
    
    17
    
    
    
    24
    
    
    
    36Mortgage-Backed Securities
    
    
    631
    
    
    
    1,027
    
    
    
    1,354
    
    
    
    2,157Other Interest-Earning Assets
    
    
    7
    
    
    
    2
    
    
    
    11
    
    
    
    4Total Interest Income
    
    
    2,544
    
    
    
    2,235
    
    
    
    5,081
    
    
    
    4,425INTEREST EXPENSEDeposits
    
    
    566
    
    
    
    556
    
    
    
    1,140
    
    
    
    1,134Federal Home Loan Bank Borrowings
    
    
    238
    
    
    
    312
    
    
    
    495
    
    
    
    643Total Interest Expense
    
    
    804
    
    
    
    868
    
    
    
    1,635
    
    
    
    1,777Net Interest Income
    
    
    1,740
    
    
    
    1,367
    
    
    
    3,446
    
    
    
    2,648PROVISION FOR LOAN LOSSES
    
    
    151
    
    
    
    
    
    
    
    223
    
    
    
    Net Interest Income afterProvision for Loan Losses
    
    
    1,589
    
    
    
    1,367
    
    
    
    3,223
    
    
    
    2,648NON-INTEREST INCOMEGain on Sale of Loans
    
    
    451
    
    
    
    85
    
    
    
    1,030
    
    
    
    129Gain on Sale of Investments
    
    
    82
    
    
    
    186
    
    
    
    311
    
    
    
    186Other Income
    
    
    247
    
    
    
    14
    
    
    
    273
    
    
    
    24Total Non-Interest Income
    
    
    780
    
    
    
    285
    
    
    
    1,614
    
    
    
    339NON-INTEREST EXPENSECompensation and Benefits
    
    
    984
    
    
    
    817
    
    
    
    2,001
    
    
    
    1,429Occupancy and Equipment
    
    
    120
    
    
    
    87
    
    
    
    244
    
    
    
    180Data Processing
    
    
    52
    
    
    
    22
    
    
    
    88
    
    
    
    46Audit and Professional Fees
    
    
    90
    
    
    
    117
    
    
    
    182
    
    
    
    177Franchise and Bank Shares Tax
    
    
    55
    
    
    
    37
    
    
    
    55
    
    
    
    75Other Expense
    
    
    309
    
    
    
    195
    
    
    
    530
    
    
    
    321Total Non-Interest Expense
    
    
    1,610
    
    
    
    1,275
    
    
    
    3,100
    
    
    
    2,228Income Before Income Taxes
    
    
    759
    
    
    
    377
    
    
    
    1,737
    
    
    
    759PROVISION FOR INCOME TAX EXPENSE
    
    
    257
    
    
    
    128
    
    
    
    589
    
    
    
    258Net Income
    
    $
    502
    
    
    $
    249
    
    
    $
    1,148
    
    
    $
    501EARNINGS PER COMMON SHARE(1):Basic
    
    $
    0.17
    
    
    $
    0.08
    
    
    $
    0.39
    
    
    $
    0.17Diluted
    
    $
    0.17
    
    
    $
    0.08
    
    
    $
    0.39
    
    
    $
    0.17DIVIDENDS DECLARED
    
    $
    0.06
    
    
    $
    0.06
    
    
    $
    0.12
    
    
    $
    0.12
 
 (1)
    
    Prior period earnings per share and weighted average shares outstanding figures were adjusted
for comparability using the conversion ratio of 0.9110 due to completion of second step
offering on December 22, 2010.   2




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HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY
SIX MONTHS ENDED DECEMBER 31, 2010 AND 2009
 Unearned
    
    
    
    
    
    
    
    
    
    
    AccumulatedAdditional
    
    
    Unearned
    
    
    RRP
    
    
    
    
    
    
    
    
    
    
    Other
    
    
    TotalCommon
    
    
    Paid-in
    
    
    ESOP
    
    
    Trust
    
    
    Retained
    
    
    Treasury
    
    
    Comprehensive
    
    
    StockholdersStock
    
    
    Capital
    
    
    Stock
    
    
    Stock
    
    
    Earnings
    
    
    Stock
    
    
    (Loss) Income
    
    
    Equity(In Thousands)BALANCE  June 30, 2009
    
    $
    14
    
    
    $
    13,608
    
    
    $
    (883
    )
    
    $
    (269
    )
    
    $
    20,288
    
    
    $
    (1,887
    )
    
    $
    439
    
    
    $
    31,310Net Income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    501
    
    
    
    
    
    
    
    
    
    
    
    501Other Comprehensive Income:Changes in Unrealized Gain
on Securities Available-for-
Sale, Net of Tax Effects
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    713
    
    
    
    713RRP Shares Earned
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    124
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    124Stock Options Vested
    
    
    
    
    
    
    28
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    28ESOP Compensation Earned
    
    
    
    
    
    
    (5
    )
    
    
    29
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    24Dividends Declared
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (147
    )
    
    
    
    
    
    
    
    
    
    
    (147
    )Acquisition Treasury Stock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (207
    )
    
    
    
    
    
    
    (207
    )BALANCE  December 31, 2009
    
    $
    14
    
    
    $
    13,631
    
    
    $
    (854
    )
    
    $
    (145
    )
    
    $
    20,642
    
    
    $
    (2,094
    )
    
    $
    1,152
    
    
    $
    32,346BALANCE  June 30, 2010
    
    $
    14
    
    
    $
    13,655
    
    
    $
    (826
    )
    
    $
    (145
    )
    
    $
    20,665
    
    
    $
    (2,094
    )
    
    $
    2,096
    
    
    $
    33,365COMMON STOCK ISSUANCE
    
    
    20
    
    
    
    18,253
    
    
    
    (1,167
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    17,106Net Income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,148
    
    
    
    
    
    
    
    
    
    
    
    1,148Other Comprehensive Loss:Changes in Unrealized Gain
on Securities Available-for-
Sale, Net of Tax Effects
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (998
    )
    
    
    (998
    )RRP Shares Earned
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    116
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    116Stock Options Vested
    
    
    
    
    
    
    11
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    11ESOP Compensation Earned
    
    
    
    
    
    
    (1
    )
    
    
    28
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    27Dividends Declared
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    

    
    
    (145
    )

    
    
    
    

    
    
    
    

    
    
    (145
    )TREASURY STOCK RETIREMENT
    
    
    (2
    )
    
    
    (826
    )
    
    
    
    
    
    
    
    
    
    
    (1,312
    )
    
    
    2,140
    
    
    
    
    
    
    
    Acquisition Treasury Stock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (46
    )
    
    
    
    
    
    
    (46
    )BALANCE  December 31, 2010
    
    $
    32
    
    
    $
    31,092
    
    
    $
    (1,965
    )
    
    $
    (29
    )
    
    $
    20,356
    
    
    $
    
    
    
    $
    1,098
    
    
    $
    50,584
   3




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HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
  Six Months EndedDecember 31,2010
    
    
    2009(In Thousands)CASH FLOWS FROM OPERATING ACTIVITIESNet Income
    
    $
    1,148
    
    
    $
    501Adjustments to Reconcile Net Income to NetCash Provided by Operating ActivitiesNet Amortization and Accretion on Securities
    
    
    (123
    )
    
    
    (168
    )Gain on Sale of Securities
    
    
    (311
    )
    
    
    (186
    )Gain on Sale of Loans
    
    
    (1,030
    )
    
    
    (129
    )Amortization of Deferred Loan Fees
    
    
    (35
    )
    
    
    (103
    )Depreciation of Premises and Equipment
    
    
    85
    
    
    
    48ESOP Expense
    
    
    27
    
    
    
    23Stock Option Expense
    
    
    11
    
    
    
    29Recognition and Retention Plan Expense
    
    
    16
    
    
    
    63Deferred Income Tax
    
    
    (80
    )
    
    
    (5
    )Provision for Loan Losses
    
    
    223
    
    
    
    Changes in Assets and Liabilities:Loans Held-for-Sale  Originations and Purchases
    
    
    (74,741
    )
    
    
    (21,364
    )Loans Held-for-Sale  Sale and Principal Repayments
    
    
    83,723
    
    
    
    21,230Accrued Interest Receivable
    
    
    (60
    )
    
    
    (20
    )Other Operating Assets
    
    
    27
    
    
    
    (226
    )Other Operating Liabilities
    
    
    (1,558
    )
    
    
    18Net Cash Provided by (Used in) Operating Activities
    
    
    7,322
    
    
    
    (289
    )CASH FLOWS FROM INVESTING ACTIVITIESLoan Originations and Purchases, Net of Principal Collections
    
    
    (18,395
    )
    
    
    (23,474
    )Deferred Loan Fees Collected
    
    
    67
    
    
    
    121Acquisition of Premises and Equipment
    
    
    (971
    )
    
    
    (1,945
    )Activity in Available-for-Sale Securities:Proceeds from Sales of Securities
    
    
    6,805
    
    
    
    4,663Principal Payments on Mortgage-Backed Securities
    
    
    8,609
    
    
    
    8,558Purchases of Securities
    
    
    (3,967
    )
    
    
    Activity in Held-to-Maturity Securities:Redemption Proceeds
    
    
    558
    
    
    
    Principal Payments on Mortgage-Backed Securities
    
    
    49
    
    
    
    39Purchases of Securities
    
    
    (253
    )
    
    
    (31
    )Net Cash Used in Investing Activities
    
    
    (7,498
    )
    
    
    (12,069
    )
   4




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
 Six Months EndedDecember 31,2010
    
    
    2009(In Thousands)CASH FLOWS FROM FINANCING ACTIVITIESNet Increase in Deposits
    
    
    15,256
    
    
    
    9,648Proceeds from Federal Home Loan Bank Advances
    
    
    
    
    
    
    15,500Repayments of Advances from Federal Home Loan Bank
    
    
    (5,526
    )
    
    
    (8,955
    )Net Decrease in Mortgage-Escrow Funds
    
    
    (79
    )
    
    
    (72
    )Dividends Paid
    
    
    (145
    )
    
    
    (147
    )Acquisition of Treasury Stock
    
    
    (46
    )
    
    
    (207
    )Net Proceeds from Stock Issuance
    
    
    18,285
    
    
    
    Net Cash Provided by Financing Activities
    
    
    27,745
    
    
    
    15,767NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
    
    
    27,569
    
    
    
    3,409CASH AND CASH EQUIVALENTS  BEGINNING OF PERIOD
    
    
    8,837
    
    
    
    10,007CASH AND CASH EQUIVALENTS  END OF PERIOD
    
    $
    36,406
    
    
    $
    13,416SUPPLEMENTARY CASH FLOW INFORMATIONInterest Paid on Deposits and Borrowed Funds
    
    $
    1,661
    
    
    $
    1,817Income Taxes Paid
    
    
    677
    
    
    
    177Market Value Adjustment for Gain (Loss) on SecuritiesAvailable-for-Sale
    
    
    (1,512
    )
    
    
    1,081
   5




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 1. Summary of Accounting Policies
 Basis of Presentation
    Use of Estimates
  Nature of Operations
   6




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
 1. Summary of Accounting Policies (continued)
 Cash and Cash Equivalents
  Securities
   Loans Held-for-Sale
  Loans
  Allowance for Loan Losses
    7




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##### Table of Contents



1. Summary of Accounting Policies (continued)
 Allowance for Loan Losses (continued)
    Off-Balance Sheet Credit Related Financial Instruments
  Foreclosed Assets
  Premises and Equipment
  Income Taxes
    8




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##### Table of Contents



1. Summary of Accounting Policies (continued)
 Income Taxes (continued)
  Comprehensive Income
  2. Securities
  December 31, 2010Gross
    
    
    GrossAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In Thousands)Securities Available-for-SaleDebt SecuritiesFHLMC Mortgage-Backed Certificates
    
    $
    2,325
    
    
    $
    105
    
    
    $
    
    
    
    $
    2,430FNMA Mortgage-Backed Certificates
    
    
    45,775
    
    
    
    1,538
    
    
    
    
    
    
    
    47,313GNMA Mortgage-Backed Certificates
    
    
    108
    
    
    
    
    
    
    
    
    
    
    
    108Total Debt Securities
    
    
    48,208
    
    
    
    1,643
    
    
    
    
    
    
    
    49,851Equity Securities176,612 Shares, AMF ARM Fund
    
    
    1,291
    
    
    
    21
    
    
    
    
    
    
    
    1,312Total Securities Available-for-Sale
    
    $
    49,499
    
    
    $
    1,664
    
    
    $
    
    
    
    $
    51,163Securities Held-to-MaturityDebt SecuritiesGNMA Mortgage-Backed Certificates
    
    $
    158
    
    
    $
    21
    
    
    $
    
    
    
    $
    179FNMA Mortgage-Backed Certificates
    
    
    67
    
    
    
    2
    
    
    
    
    
    
    
    69FHLMC Mortgage-Backed Certificates
    
    
    24
    
    
    
    2
    
    
    
    
    
    
    
    26Total Debt Securities
    
    
    249
    
    
    
    25
    
    
    
    
    
    
    
    274Equity Securities (Non-Marketable630 Shares-First National Bankers
Bankshares, Inc.
    
    
    250
    
    
    
    
    
    
    
    
    
    
    
    25012,856 Shares  Federal Home Loan Bank
    
    
    1,286
    
    
    
    
    
    
    
    
    
    
    
    1,286Total Equity Securitie
    
    
    1,536
    
    
    
    
    
    
    
    
    
    
    
    1,536Total Securities Held-to-Maturity
    
    $
    1,785
    
    
    $
    25
    
    
    $
    
    
    
    $
    1,810
  9




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##### Table of Contents



2. Securities (continued)
 June 30, 2010Gross
    
    
    GrossAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In Thousands)Securities Available-for-SaleDebt SecuritiesFHLMC Mortgage-Backed Certificates
    
    $
    3,031
    
    
    $
    175
    
    
    $
    
    
    
    $
    3,206FNMA Mortgage-Backed Certificates
    
    
    55,828
    
    
    
    2,980
    
    
    
    
    
    
    
    58,808GNMA Mortgage-Backed Certificates
    
    
    115
    
    
    
    1
    
    
    
    1
    
    
    
    115Total Debt Securities
    
    
    58,974
    
    
    
    3,156
    
    
    
    1
    
    
    
    62,129Equity Securities210,350 Shares, AMF ARM Fund
    
    
    1,538
    
    
    
    21
    
    
    
    
    
    
    
    1,559Total Securities Available-for-Sale
    
    $
    60,512
    
    
    $
    3,177
    
    
    $
    1
    
    
    $
    63,688Securities Held-to-MaturityDebt SecuritiesGNMA Mortgage-Backed Certificates
    
    $
    196
    
    
    $
    22
    
    
    $
    
    
    
    $
    218FNMA Mortgage-Backed Certificates
    
    
    75
    
    
    
    2
    
    
    
    
    
    
    
    77FHLMC Mortgage-Backed Certificates
    
    
    27
    
    
    
    1
    
    
    
    
    
    
    
    28Total Debt Securities
    
    
    298
    
    
    
    25
    
    
    
    
    
    
    
    323Equity Securities (Non-Marketable)18,402 Shares  Federal Home Loan Bank
    
    
    1,840
    
    
    
    
    
    
    
    
    
    
    
    1,840Total Securities Held-to- Maturity
    
    $
    2,138
    
    
    $
    25
    
    
    $
    
    
    
    $
    2,163
  Available-for-Sale
    
    
    Held-to-MaturityAmortized
    
    
    Fair
    
    
    Amortized
    
    
    FairCost
    
    
    Value
    
    
    Cost
    
    
    Value(In Thousands)Within One Year or Less
    
    $
    
    
    
    $
    
    
    
    $
    1
    
    
    $
    1One through Five Years
    
    
    
    
    
    
    
    
    
    
    14
    
    
    
    15After Five through Ten Years
    
    
    667
    
    
    
    681
    
    
    
    103
    
    
    
    110Over Ten Years
    
    
    47,541
    
    
    
    49,170
    
    
    
    131
    
    
    
    148Total
    
    $
    48,208
    
    
    $
    49,851
    
    
    $
    249
    
    
    $
    274
   10




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##### Table of Contents



2. Securities (continued)
  December 31, 2010Less than Twelve Months
    
    
    Over Twelve MonthsGross
    
    
    
    
    
    
    GrossUnrealized
    
    
    Fair
    
    
    Unrealized
    
    
    FairLosses
    
    
    Value
    
    
    Losses
    
    
    Value(In Thousands)Debt SecuritiesMortgage-Backed Securities
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Marketable Equity Securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total Securities Available-for-Sale
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
 June 30, 2010Less than Twelve Months
    
    
    Over Twelve MonthsGross
    
    
    
    
    
    
    GrossUnrealized
    
    
    Fair
    
    
    Unrealized
    
    
    FairLosses
    
    
    Value
    
    
    Losses
    
    
    Value(In Thousands)Debt SecuritiesMortgage-Backed Securities
    
    $
    
    
    
    $
    
    
    
    $
    1
    
    
    $
    89Marketable Equity Securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total Securities Available-for-Sale
    
    $
    
    
    
    $
    
    
    
    $
    1
    
    
    $
    89
    11




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##### Table of Contents



3. Earnings Per Share
  Three Months Ended
    
    
    Three Months EndedDecember 31, 2010
    
    
    December 31, 2009Basic
    
    
    Diluted
    
    
    Basic
    
    
    DilutedNet income
    
    $
    501,358
    
    
    $
    501,358
    
    
    $
    249,500
    
    
    $
    249,500Weighted average shares outstanding
    
    
2,965,576
    
    
    
    2,965,576
    
    
    
    2,945,673
    
    
    
    2,945,673Effect of unvested common stock awards
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Adjusted weighted average shares used in
earnings per share computation
    
    
    2,965,576
    
    
    
    2,965,576
    
    
    
    2,945,673
    
    
    
    2,945,673Earnings per share
    
    $
    0.17
    
    
    $
    0.17
    
    
    $
    0.08
    
    
    $
    0.08
 Six Months Ended
    
    
    Six Months EndedDecember 31, 2010
    
    
    December 31, 2009Basic
    
    
    Diluted
    
    
    Basic
    
    
    DilutedNet income
    
    $
    1,147,673
    
    
    $
    1,147,673
    
    
    $
    501,250
    
    
    $
    501,250Weighted average shares outstanding
    
    
    2,962,061
    
    
    
    2,962,061
    
    
    
    2,951,958
    
    
    
    2,951,958Effect of unvested common stock awardsAdjusted weighted average shares used in
earnings per share computation
    
    
    2,962,061
    
    
    
    2,962,061
    
    
    
    2,951,958
    
    
    
    2,951,958Earnings per share
    
    $
    0.39
    
    
    $
    0.39
    
    
    $
    0.17
    
    
    $
    0.17
  4. Recognition and Retention Plan
    12




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##### Table of Contents



4. Recognition and Retention Plan (continued)
  5. Stock Option Plan
  Compensation  Stock Compensation.
 6. Fair Value of Financial Instruments
 Financial
Instruments
   Cash and Cash Equivalents
  Securities to be Held-to-Maturity and Available-for-Sale
   13




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
 6 Fair Value of Financial Instruments (continued)
 Mortgage Loans Held-for-Sale
  Loans Receivable
  Deposit Liabilities
  Advances from Federal Home Loan Bank
  Off-Balance Sheet Credit-Related Instruments
    December 31, 2010
    
    
    June 30, 2010Carrying
    
    
    Estimated
    
    
    Carrying
    
    
    EstimatedValue
    
    
    Fair Value
    
    
    Value
    
    
    Fair Value(In Thousands)Financial AssetsCash and Cash Equivalents
    
    $
    36,406
    
    
    $
    36,406
    
    
    $
    8,837
    
    
    $
    8,837Securities Available-for-Sale
    
    
    51,163
    
    
    
    51,163
    
    
    
    63,688
    
    
    
    63,688Securities to be Held-to-Maturity
    
    
    1,785
    
    
    
    1,810
    
    
    
    2,138
    
    
    
    2,163Loans Held-for-Sale
    
    
    5,451
    
    
    
    5,451
    
    
    
    13,403
    
    
    
    13,403Loans Receivable
    
    
    111,196
    
    
    
    125,652
    
    
    
    93,056
    
    
    
    109,322Financial LiabilitiesDeposits
    
    
    132,979
    
    
    
    137,633
    
    
    
    117,722
    
    
    
    120,460Advances from FHLB
    
    
    25,981
    
    
    
    27,774
    
    
    
    31,507
    
    
    
    33,175Off-Balance Sheet ItemsMortgage Loan Commitments
    
    
    
    
    
    
    82
    
    
    
    
    
    
    
    142




14



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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
 7. Fair Value Accounting
 Fair Value Measurement, Fair Value Measurements and Disclosures
 
    
    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 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 instrument that are measured at fair value.
  
    
    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 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 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
(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
information indicates that market participants would use different assumptions.




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
 7. Fair Value Accounting (continued)
  Fair Value Measurements Using:Quoted Prices in
    
    
    SignificantActive Markets for
    
    
    Other ObservableIdentical Assets
    
    
    InputsDecember 31, 2010
    
    (Level 1)
    
    
    (Level 2)
    
    
    Total(In Thousands)Available-for-SaleDebt SecuritiesFHLMC
    
    $
    
    
    
    $
    2,430
    
    
    $
    2,430FNMA
    
    
    
    
    
    
    47,313
    
    
    
    47,313GNMA
    
    
    
    
    
    
    108
    
    
    
    108Equity SecuritiesARM Fund
    
    
    1,312
    
    
    
    
    
    
    
    1,312Total
    
    $
    1,312
    
    
    $
    49,851
    
    
    $
    51,163
 Fair Value Measurements Using:Quoted Prices in
    
    
    SignificantActive Markets for
    
    
    Other ObservableIdentical Assets
    
    
    InputsJune 30, 2010
    
    (Level 1)
    
    
    (Level 2)
    
    
    Total(In Thousands)Available-for-SaleDebt SecuritiesFHLMC
    
    $
    
    
    
    $
    3,206
    
    
    $
    3,206FBNA
    
    
    
    
    
    
    58,808
    
    
    
    58,808GNMA
    
    
    
    
    
    
    115
    
    
    
    115Equity SecuritiesARM Fund
    
    
    1,559
    
    
    
    
    
    
    
    1,559Total
    
    $
    1,559
    
    
    $
    62,129
    
    
    $
    63,688
 8. Second Step Conversion




16



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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 ITEM 2.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
 General
   Critical Accounting Policies
 Allowance for Loan Losses.
 Income Taxes.
 Discussion of Financial Condition Changes from June 30, 2010 to December 31, 2010




17



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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)
 Discussion of Financial Condition Changes from June 30, 2010 to December 31, 2010 (continued)
     Comparison of Operating Results for the Three and Six Month Periods Ended December 31, 2010 and
2009
 General




18



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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)
 Comparison of Operating Results for the Three and Six Month Periods Ended December 31, 2010 and
2009 (continued)
 Net Interest Income
    Provision for Losses on Loans
  Non-interest Income




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)
 Comparison of Operating Results for the Three and Six Month Periods Ended December 31, 2010 and
2009 (continued)
  Non-interest Expense
     Income Taxes
  Liquidity and Capital Resources




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(CONTINUED)
 Liquidity and Capital Resources (continued)
    Off-Balance Sheet Arrangements
  Impact of Inflation and Changing Prices
   Forward-Looking Statements




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  
 ITEM 4. CONTROLS AND PROCEDURES
 Evaluation of Disclosures Controls and Procedures.
 Changes in Internal Control over Financial Reporting
 
 PART II
 
 ITEM 1. LEGAL PROCEEDINGS
  
 ITEM 1A. RISK FACTORS
  
 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS




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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
       Total Number
    
    
    Maximumof Shares
    
    
    Number ofPurchased as
    
    
    Shares thatPart of
    
    
    May Yet BeTotal
    
    
    Average
    
    
    Publicly
    
    
    PurchasedNumber of
    
    
    Price
    
    
    Announced
    
    
    Under theShares
    
    
    Paid per
    
    
    Plans or
    
    
    Plans orPeriod
    
    Purchased
    
    
    Share
    
    
    Programs
    
    
    ProgramsMonth #1 October 1, 2010  October 31, 2010
    
    $
    
    
    
    $
    
    
    
    
    
    
    
    
    81,080Month #2 November 1, 2010  November 30,
2010
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    81,080Month #3 December 1, 2010   December 31,
2010
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0Total
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0
 
 Notes to this table:(a)
    
    On August 26, 2008, the Company issued a press release announcing that the Board of Directors
authorized a stock repurchase program (the program) on August 13, 2008.(b)
    
    The Company was authorized to repurchase 10% or 113,875 of the outstanding shares other than
shares held by Home Federal Mutual Holding Company, as adjusted for the 0.9110 exchange ratio.(c)
    
    The stock repurchase program was cancelled effective December 22, 2010, the date of
completion of the Companys conversion and reorganization to a fully public stock holding
structure.




23



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##### Table of Contents



HOME FEDERAL BANCORP, INC. OF LOUISIANA
 
 ITEM 3. DEFAULTS UPON SENIOR SECURITIES
  
 ITEM 4. [REMOVED AND RESERVED]
 
 ITEM 5. OTHER INFORMATION
  
 ITEM 6. EXHIBITS
  No.

    
    Description31.1
    
    
    Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer31.2
    
    
    Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer32.0
    
    
    Certification Pursuant to 18 U.S.C Section 1350




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##### Table of Contents



SIGNATURES
  HOME FEDERAL BANCORP, INC. OF LOUISIANADate: February 14, 2011
    By:
    /s/ Daniel R. HerndonDaniel R. HerndonPresident and Chief Executive OfficerDate: February 14, 2011
    By:
    /s/ Clyde D. PattersonClyde D. PattersonExecutive Vice President and Chief Financial Officer(Principal Financial And Accounting Officer)