exh101.htm


     

    
      

      

    

    EXHIBIT 10.1

     

     

    
      HOME
FEDERAL SAVINGS AND LOAN ASSOCIATION

      EMPLOYMENT
AGREEMENT

       

       

       

          This EMPLOYMENT
AGREEMENT (this “Agreement”), is made and entered into as of the 21st day of
February 2009, between Home Federal Savings and Loan Association (the
“Association” or the “Employer”), a federally chartered savings and loan
association which is the wholly owned subsidiary of Home Federal Bancorp, Inc.
of Louisiana (the “Corporation”), and Daniel R. Herndon (the
“Executive”).

       

       

      WITNESSETH

       

       

          WHEREAS, the
Executive is currently employed as Chairman of the Board and Chief Executive
Officer of the Association;

       

          WHEREAS, the
Executive is currently employed as Chairman, President and Chief Executive
Officer of the Corporation, a federal corporation;

       

          WHEREAS, the
Association desires to assure itself of the continued availability of the
Executive’s services as provided in this Agreement;

       

          WHEREAS, the
Executive is willing to serve the Association on the terms and conditions
hereinafter set forth; and

       

          WHEREAS, the
Executive is concurrently entering into a separate employment agreement with the
Corporation (the “Corporation Agreement”).

       

          NOW THEREFORE, in
consideration of the mutual agreements herein contained, and upon the other
terms and conditions hereinafter provided, the Association and the Executive
hereby agree as follows:

       

       

          1.           
Definitions.  The
following words and terms shall have the meanings set forth below for the
purposes of this Agreement:

       

          (a)           Annual
Compensation.  The Executive’s “Annual Compensation” for
purposes of determining severance payable under this Agreement shall be deemed
to mean the sum of (i) the annual rate of Base Salary as of the Date of
Termination, and (ii) the cash bonus, if any, earned by the Executive for the
calendar year immediately preceding the year in which the Date of Termination
occurs.

       

          (b)           Base
Salary.  “Base Salary” shall have the meaning set forth in
Section 3(a) hereof.

       

          (c)           Cause.
Termination of the Executive’s employment for “Cause” shall mean termination
because of personal dishonesty, incompetence, willful misconduct, breach of
fiduciary duty involving personal profit, intentional failure to perform stated
duties, willful violation of any law, rule or regulation (other than traffic
violations or similar offenses) or final cease-and-desist order or material
breach of any provision of this Agreement.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

          (d)           Change in
Control.  “Change in Control” shall mean a change in the
ownership of the Corporation or the Association, a change in the effective
control of the Corporation or the Association or a change in the ownership of a
substantial portion of the assets of the Corporation or the Association, in each
case as provided under Section 409A of the Code and the regulations thereunder;
provided, however, that neither any second-step conversion and reorganization in
which the MHC ceases to exist nor any increase in the ownership of the
Corporation by the MHC shall be deemed to constitute a Change in
Control.

       

          (e)           Code.  “Code”
shall mean the Internal Revenue Code of 1986, as
amended.

       

          (f)           
Date of
Termination.  “Date of Termination” shall mean (i) if the
Executive’s employment is terminated for Cause, the date on which the Notice of
Termination is given, and (ii) if the Executive’s employment is terminated for
any other reason, the date specified in such Notice of
Termination.

       

          (h)           Effective
Date.  The Effective Date of this Agreement shall mean February
21, 2009.

       

          (i)           
Disability.  “Disability”
shall mean the Executive (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, or (ii) is, by reason of any
medically determinable physical or mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less
than 12 months, receiving income replacement benefits for a period of not less
than three months under an accident and health plan covering employees of the
Employer.

       

          (j)           ERISA.  “ERISA”
means the Employee Retirement Income Security Act of 1974, as
amended.

       

          (i)           Good
Reason.  “Good Reason” means the occurrence of any of the
following conditions:

       

      
        	
                 

              	
                
                        
      (i)    any
      material breach of this Agreement by the Association, including without
      limitation any of the following: (A) a material diminution in the
      Executive’s base compensation, (B) a material diminution in the
      Executive’s authority, duties or responsibilities as prescribed in Section
      2, or (C) any requirement that the Executive report to a corporate officer
      or employee of the Association instead of reporting directly to the Board
      of Directors of the Association (the “Association Board”),
    or

                

              


      

       

      
        	
                 

              	
                
                      
      (ii)    any
      material change in the geographic location at which the Executive must
      perform his services under this
Agreement;

                

              


      

       

      
        
          
          

        

        
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      provided,
however, that prior to any termination of employment for Good Reason, the
Executive must first provide written notice to the Association within ninety
(90) days of the initial existence of the condition, describing the existence of
such condition, and the Association shall thereafter have the right to remedy
the condition within thirty (30) days of the date the Association received the
written notice from the Executive.  If the Association remedies the
condition within such thirty (30) cure period, then no Good Reason shall be
deemed to exist with respect to such condition.  If the Association
does not remedy the condition within such thirty (30) day cure period, then the
Executive may deliver a Notice of Termination for Good Reason at any time within
sixty (60) days following the expiration of such cure period.

       

      
              (k)     IRS.  “IRS”
shall mean the Internal Revenue Service.

      

       

      (l)      MHC. “MHC”
shall mean Home Federal Mutual Holding Company of Louisiana, the parent mutual
holding company for the Corporation and the Association.

       

      (m)    Notice of
Termination.  Any purported termination of the Executive’s
employment by the Association for any reason, including without limitation for
Cause, Disability or Retirement, or by the Executive for any reason, including
without limitation for Good Reason, shall be communicated by a written “Notice
of Termination” to the other party hereto.  For purposes of this
Agreement, a “Notice of Termination” shall mean a dated notice which (i)
indicates the specific termination provision in this Agreement relied upon, (ii)
sets forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Executive’s employment under the provision so
indicated, (iii) specifies a Date of Termination, which shall be effective
immediately if the Association terminates the Executive’s employment for Cause,
and (iv) is given in the manner specified in Section 10
hereof.

       

      (n)    
Retirement.  “Retirement”
shall means voluntary termination by the Executive which constitutes a
retirement, including early retirement, under the Association’s 401(k)
plan.

       

            
2.     Term of Employment and
Duties.

       

           
(a)          The Association
hereby employs the Executive as the Chairman of the Board of Directors of the
Association Board and Chief Executive Officer of the Association and the
Executive hereby accepts said employment and agrees to render such services to
the Association on the terms and conditions set forth in this
Agreement.  The terms and conditions of this Agreement shall be and
remain in effect during the period of three years beginning on the Effective
Date of this Agreement and ending on the third anniversary of the Effective
Date, plus such extensions, if any, as are provided pursuant to Section 2(b)
hereof (the “Employment Period”).

      
     (b)           Beginning
on the day that is the first annual anniversary of the Effective Date and on
each annual anniversary thereafter, the term of this Agreement shall be extended
for a period of one additional year, provided that the Employer has not given
notice to the Executive in writing at least 30 days prior to such day that the
term of this Agreement shall not be extended further and/or the Executive has
not given notice to the Employer of his election not to extend the term at least
thirty (30) days prior to any such annual anniversary date.  If any
party gives timely notice that the term will not be extended as of any such
annual anniversary date, then this Agreement shall terminate at the conclusion
of its remaining term.  References herein to the term of this
Agreement shall refer both to the initial term and successive
terms.

       

      
        
          
          

        

        
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          (c)           Nothing
in this Agreement shall be deemed to prohibit the Association at any time from
terminating the Executive’s employment during the Employment Period for any
reason, provided that the relative rights and obligations of the Association and
the Executive in the event of any such termination shall be determined under
this Agreement, and provided further, that the termination of the Executive as
Chairman and/or as Chief Executive Officer shall not result automatically in
termination of the Executive’s service as a director on the Association
Board.

       

          (d)           During
the term of this Agreement, the Executive shall manage the operations of the
Association and oversee the officers that report to him. The Executive shall
also oversee the implementation of the policies adopted by the Board of
Directors of the Association. In addition, during the term of this Agreement,
the Executive shall perform such executive services for the Association as may
be consistent with his title and from time to time assigned to him by the
Association’s Board of Directors.

       

          (e)           During
the term of this Agreement, the Association Board shall nominate the Executive
to be a director of the Association when his term expires and recommend his
election to the sole stockholder of the Association, subject to the fiduciary
duties of the Association Board.

       

          3.           
Compensation and Benefits.

       

          (a)           The
Employer shall compensate and pay the Executive for his services during the term
of this Agreement at a minimum base salary of $135,500 per year (“Base Salary”),
which amount may be increased from time to time in such amounts as may be
determined by the Board of Directors of the Employer and may not be decreased
without the Executive’s express written consent.  In addition to his
Base Salary, the Executive shall be entitled to receive during the term of this
Agreement such bonus payments as may be determined by the Board of Directors of
the Employer.  The Executive and the Association acknowledge that a
portion of the Base Salary may be paid by the Corporation pursuant to the terms
of the Corporation Agreement for services rendered to the Corporation by the
Executive pursuant to his service as Chairman of the Board, President and Chief
Executive Officer thereof.

       

          (b)           During
the term of this Agreement, the Executive shall be entitled to participate in
and receive the benefits of any pension or other retirement benefit plan, profit
sharing, employee stock ownership, or other plans, benefits and privileges given
to employees and executives of the Employer, to the extent commensurate with his
then duties and responsibilities, as fixed by the Board of Directors of the
Employer.  The Association shall not make any changes in such plans,
benefits or privileges which would adversely affect the Executive’s rights or
benefits thereunder, unless such change occurs pursuant to a program applicable
to all executive officers of the Association and does not result in a
proportionately greater adverse change in the rights of or benefits to the
Executive as compared with any other executive officer of the
Association.  Nothing paid to the Executive under any plan or
arrangement presently in effect or made available in the future shall be deemed
to be in lieu of the salary payable to the Executive pursuant to Section 3(a)
hereof.

       

      
        
          
          

        

        
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          (c)           During
the term of this Agreement, the Executive shall be entitled to paid annual
vacation in accordance with the policy as established from time to time by the
Board of Directors of the Employer.  The Executive shall not be
entitled to receive any additional compensation from the Employer for failure to
take a vacation, nor shall the Executive be able to accumulate unused vacation
time from one year to the next, except to the extent authorized by the Board of
Directors of the Employer.

          

          (d)           During
the term of this Agreement and during a period not to exceed five years after
the Executive’s Retirement during which the Executive provides consulting
services to the Association (the “Consulting Period”), the Employer shall
provide medical and dental insurance at no expense to the Executive for the
benefit of the Executive and his spouse; furthermore, in the event of the death
of the Executive prior to the earlier to occur of the expiration of the term of
this Agreement or the Consulting Period, as applicable, the Employer shall
provide the Executive’s spouse, at no expense to the spouse, with said medical
and dental insurance until the date when the term of this Agreement or the
Consulting Period, as applicable, would have expired but for Executive’s death.
The terms of such medical and dental insurance shall be the same or
substantially similar to the coverage provided by the Association as of the date
of this Agreement.

       

          (e)           During
the term of this Agreement, in keeping with past practices, the Employer shall
continue to provide the Executive with an automobile comparable to the one
currently provided to him.  The Employer shall be responsible and
shall pay for all costs of insurance coverage, repairs, maintenance and other
incidental expenses, including license, fuel and oil.

       

          (f)           Except
as otherwise agreed between the Corporation and the Association, (i) the
Executive's compensation, benefits, and severance and (ii) expenditures made by
the Executive on behalf of the Association, as set forth in this Agreement,
shall be paid by the Corporation and the Association in the same proportions as
the (A) time and services and (B) expenditures actually expended by the
Executive on the business of the Corporation and the business of the
Association, respectively.  For this purpose, the Executive shall
maintain, and provide to the Association on at least a monthly basis,
documentation of the time and expenses expended by the Executive on the business
of each of the Corporation and the Association. No provision contained in this
Agreement shall require the Association to pay any portion of the Executive’s
compensation, benefits, severance and expenses required to be paid by the
Corporation pursuant to this Agreement or the agreement of even date being
entered into between the Corporation and the
Executive.

       

          4.           Expenses.  The
Employer shall reimburse the Executive or otherwise provide for or pay for all
reasonable expenses incurred by the Executive in furtherance of or in connection
with the business of the Employer, including, but not by way of limitation,
automobile expenses described in Section 3(e) hereof, and traveling expenses,
and all reasonable entertainment expenses (whether incurred at the Executive’s
residence, while traveling or otherwise), subject to such reasonable
documentation and policies as may be established by the Board of Directors of
the Employer.  If such expenses are paid in the first instance by the
Executive, the Employer shall reimburse the Executive therefor.  Such
reimbursement shall be paid promptly by the Employer and in any event no later
than March 15th of the year immediately following the year in which such
expenses were incurred.

       

      
        
          
          

        

        
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          5.           Termination.

       

          (a)           The
Association shall have the right, at any time upon prior Notice of Termination,
to terminate the Executive’s employment hereunder for any reason, including
without limitation termination for Cause, Disability or Retirement, and the
Executive shall have the right, upon prior Notice of Termination, to terminate
his employment hereunder for any reason.

       

          (b)           In
the event that (i) the Executive’s employment is terminated by the Association
for Cause or (ii) the Executive terminates his employment hereunder other than
for Disability, Retirement, death or Good Reason, the Executive shall have no
right pursuant to this Agreement to compensation or other benefits for any
period after the applicable Date of Termination.

       

          (c)           In
the event that the Executive’s employment is terminated as a result of
Disability, Retirement or the Executive’s death during the term of this
Agreement, the Executive shall have no right pursuant to this Agreement to
compensation or other benefits for any period after the applicable Date of
Termination.

       

          (d)           In
the event that (i) a Change in Control of the Corporation or the Association
occurs, (ii) the Executive’s employment is terminated by the Association for
other than Cause, Disability, Retirement or the Executive’s death or (iii) such
employment is terminated by the Executive for Good Reason, then the Association
shall, subject to the provisions of Section 6 hereof, if
applicable,

       

          (A)           pay
to the Executive, in a lump sum as of the Date of Termination, a cash severance
amount equal to three (3) times that portion of the Executive’s Annual
Compensation paid by the Association,

       

          (B)           maintain
and provide for a period ending at the earlier of (i) thirty-six (36) months
after the Date of Termination or (ii) the date of the Executive’s full-time
employment by another employer (provided that the Executive is entitled under
the terms of such employment to benefits substantially similar to those
described in this subparagraph (B)), at no cost to the Executive, the
Executive’s continued participation in all group insurance, life insurance,
health and accident, disability insurance offered by the Association in which
the Executive was entitled to participate immediately prior to the Date of
Termination (other than the continuation of any vacation time, sick leave or
similar leave), subject to subparagraphs (C) and (D)
below,

       

          (C)           in
the event that the Executive’s participation in any plan, program or arrangement
as provided in subparagraph (B) of this Section 5(d) is barred, or during such
period any such plan, program or arrangement is discontinued or the benefits
thereunder are materially reduced, the Association shall arrange to provide the
Executive with benefits substantially similar to those which the Executive was
entitled to receive under such plans, programs and arrangements immediately
prior to the Date of Termination or, if such coverage cannot be obtained, pay a
lump sum cash equivalency amount within thirty (30) days following the Date of
Termination based on the annualized rate of premiums being paid by the
Association as of the Date of Termination, and

       

      
        
          
          

        

        
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          (D)           any
insurance premiums payable by the Association pursuant to Section 5(d)(B) or (C)
shall be payable at such times and in such amounts as if the Executive was still
an employee of the Association, subject to any increases in such amounts imposed
by the insurance company or COBRA, and the amount of insurance premiums required
to be paid by the Association in any taxable year shall not affect the amount of
insurance premiums required to be paid by the Association in any other taxable
year.

       

          6.           Limitation of
Benefits under Certain Circumstances.  If the payments and
benefits pursuant to Section 5 hereof, either alone or together with other
payments and benefits which the Executive has the right to receive from the
Association and/or the Corporation, would constitute a “parachute payment” under
Section 280G of the Code, then the payments and benefits payable by the
Association pursuant to Section 5 hereof shall be reduced by the minimum amount
necessary to result in no portion of the payments and benefits payable by the
Association under Section 5 being non-deductible to the Association pursuant to
Section 280G of the Code and subject to the excise tax imposed under Section
4999 of the Code.  In no event shall the payments and benefits payable
under Section 5 exceed three times the Executive’s average taxable income from
the Association for the five calendar years preceding the year in which the Date
of Termination occurs, with any benefits to be provided subsequent to the Date
of Termination to be discounted to present value in accordance with Section 280G
of the Code.  If the payments and benefits under Section 5 are
required to be reduced, the cash severance shall be reduced first, followed by a
reduction in the fringe benefits.  The determination of any reduction
in the payments and benefits to be made pursuant to Section 5 shall be based
upon the opinion of independent tax counsel selected by the Association and paid
by the Association.  Such counsel shall promptly prepare the foregoing
opinion, but in no event later than thirty (30) days from the Date of
Termination, and may use such actuaries as such counsel deems necessary or
advisable for the purpose.  Nothing contained in this Section 6 shall
result in a reduction of any payments or benefits to which the Executive may be
entitled upon termination of employment under any circumstances other than as
specified in this Section 6, or a reduction in the payments and benefits
specified in Section 5 below zero.

       

          7.           Mitigation;
Exclusivity of Benefits.

       

          (a)           The
Executive shall not be required to mitigate the amount of any benefits hereunder
by seeking other employment or otherwise, nor shall the amount of any such
benefits be reduced by any compensation earned by the Executive as a result of
employment by another employer after the Date of Termination or otherwise,
except as set forth in Section 5(d)(B) above.

       

      
        
          
          

        

        
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          (b)           The
specific arrangements referred to herein are not intended to exclude any other
vested benefits which may be available to the Executive upon a termination of
employment with the Association pursuant to employee benefit plans of the
Association or the Corporation or otherwise.

       

          8.           Withholding.  All
payments required to be made by the Association hereunder to the Executive shall
be subject to the withholding of such amounts, if any, relating to tax and other
payroll deductions as the Association shall determine are required to be
withheld pursuant to any applicable law or
regulation.

       

          9.           Assignability.  The
Association may assign this Agreement and its rights and obligations hereunder
in whole, but not in part, to any corporation, bank or other entity with or into
which the Association may hereafter merge or consolidate or to which the
Association may transfer all or substantially all of its assets, if in any such
case said corporation, bank or other entity shall by operation of law or
expressly in writing assume all obligations of the Association hereunder as
fully as if it had been originally made a party hereto, but may not otherwise
assign this Agreement or its rights and obligations hereunder.  The
Executive may not assign or transfer this Agreement or any rights or obligations
hereunder.

       

          10.           Notice.  For
the purposes of this Agreement, notices and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly
given when delivered or mailed by certified or registered mail, return receipt
requested, postage prepaid, addressed to the respective addresses set forth
below:

       

      To the
Association:          Secretary

      Home Federal Savings and Loan
Association

      624 Market Street

      Shreveport,
Louisiana  71101

       

      To the
Executive:              Daniel
R. Herndon

       At
the address last appearing on

       the
personnel records of the Employer

       

          11.           Amendment;
Waiver.  No provisions of this Agreement may be modified,
waived or discharged unless such waiver, modification or discharge is agreed to
in writing signed by the Executive and such officer or officers as may be
specifically designated by the Association Board to sign on its
behalf.  No waiver by any party hereto at any time of any breach by
any other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.  In addition, notwithstanding anything in this
Agreement to the contrary, the Association may amend in good faith any terms of
this Agreement, including retroactively, in order to comply with Section 409A of
the Code.

       

          12.           Governing
Law.  The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the United States
where applicable and otherwise by the substantive laws of the State of
Louisiana.

       

      
        
          
          

        

        
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          13.           Nature of
Obligations.  Nothing contained herein shall create or require
the Association to create a trust of any kind to fund any benefits which may be
payable hereunder, and to the extent that the Executive acquires a right to
receive benefits from the Association hereunder, such right shall be no greater
than the right of any unsecured general creditor of the
Association.

       

          14.           Headings.  The
section headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this
Agreement.

       

          15.           Validity.  The
invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provisions of this Agreement,
which shall remain in full force and effect.

       

          16.           Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the
same instrument.

       

          17.           Regulatory
Actions.  The following provisions shall be applicable to the
parties to the extent that they are required to be included in employment
agreements between a savings association and its employees pursuant to Section
563.39(b) of the Office of Thrift Supervision (“OTS”) Rules and Regulations, 12
C.F.R. §563.39(b), or any successor thereto, and shall be controlling in the
event of a conflict with any other provision of this Agreement, including
without limitation Section 5 hereof.

       

          (a)           If
the Executive is suspended from office and/or temporarily prohibited from
participating in the conduct of the Association’s affairs pursuant to notice
served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance
Act (“FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Association’s
obligations under this Agreement shall be suspended as of the date of service,
unless stayed by appropriate proceedings.  If the charges in the
notice are dismissed, the Association may, in its discretion:  (i) pay
the Executive all or part of the compensation withheld while its obligations
under this Agreement were suspended, and (ii) reinstate (in whole or in part)
any of its obligations which were suspended.

       

          (b)           If
the Executive is removed from office and/or permanently prohibited from
participating in the conduct of the Association’s affairs by an order issued
under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §§1818(e)(4) and
(g)(1)), all obligations of the Association under this Agreement shall terminate
as of the effective date of the order, but vested rights of the Executive and
the Association as of the date of termination shall not be
affected.

       

          (c)           If
the Association is in default, as defined in Section 3(x)(1) of the FDIA (12
U.S.C. §1813(x)(1)), all obligations under this Agreement shall terminate as of
the date of default, but vested rights of the Executive and the Association as
of the date of termination shall not be affected.

       

      
        
          
          

        

        
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          (d)           All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R.
§563.39(b)(5), except to the extent that it is determined that continuation of
the Agreement for the continued operation of the Association is necessary: (i)
by the Director of the OTS, or his/her designee, at the time the Federal Deposit
Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to
or on behalf of the Association under the authority contained in Section 13(c)
of the FDIA (12 U.S.C. §1823(c)); or (ii) by the Director of the OTS, or his/her
designee, at the time the Director or his/her designee approves a supervisory
merger to resolve problems related to operation of the Association or when the
Association is determined by the Director of the OTS to be in an unsafe or
unsound condition, but vested rights of the Executive and the Employer as of the
date of termination shall not be affected.

       

          18.           Regulatory
Prohibition.  Notwithstanding any other provision of this
Agreement to the contrary, any payments made to the Executive pursuant to this
Agreement, or otherwise, are subject to and conditioned upon their compliance
with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part
359.

       

         19.           Changes in Statutes
or Regulations. If any statutory or regulation provision referenced
herein is subsequently changed or re-numbered, or is replaced by a separate
provision, then the references in this Agreement to such statutory or regulatory
provision shall be deemed to be a reference to such section as amended,
re-numbered or replaced.

       

          20.           Entire
Agreement.  This Agreement embodies the entire agreement
between the Association and the Executive with respect to the matters agreed to
herein.  All prior agreements between the Association and the
Executive with respect to the matters agreed to herein are hereby superseded and
shall have no force or effect.  Notwithstanding the foregoing, nothing
contained in this Agreement shall affect the Corporation Agreement of even date
being entered into between the Corporation and the
Executive.

       

       

       

       

       

       

       

      
        
          
          

        

        
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          IN WITNESS WHEREOF,
this Agreement has been executed as of the date first above
written.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      	
                                              Attest

                                            	
                                              HOME
      FEDERAL SAVINGS AND

                                            
	 
      	
                                                LOAN
      ASSOCIATION

                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                              /s/
      DeNell W. Mitchell

                                            	
                                               

                                            	
                                              By:

                                            	
                                              /s/
      Scott D. Lawrence

                                            
	
                                              DeNell
      W. Mitchell

                                            	 
      	
                                              Scott
      D. Lawrence

                                            
	
                                              Corporate
      Secretary

                                            	 
      	
                                              Chairman
      of the Audit Committee

                                            
	 	 	 
	 
      	 
      	 
      
	 
      	 
      	
                                              EXECUTIVE

                                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                              By:

                                            	
                                              /s/
      Daniel R. Herndon

                                            
	 
      	 
      	
                                              Daniel
      R. Herndon

                                            
	 
      	 
      	 
      


                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

       

       

       

       

       

      
        
          
          

        

        
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