<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AT MARCH 31, 2000 AND DECEMBER 31, 1999 AND THE
CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000921183
<NAME> HMN FINANCIAL, INC.
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             JAN-01-2000
<PERIOD-END>                               MAR-31-2000
<CASH>                                           2,662
<INT-BEARING-DEPOSITS>                           5,592
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     97,190
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        489,950
<ALLOWANCE>                                      3,318
<TOTAL-ASSETS>                                 705,704
<DEPOSITS>                                     401,453
<SHORT-TERM>                                    65,000
<LIABILITIES-OTHER>                              6,799
<LONG-TERM>                                    168,900
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            91
<OTHER-SE>                                      63,461
<TOTAL-LIABILITIES-AND-EQUITY>                 705,704
<INTEREST-LOAN>                                  9,443
<INTEREST-INVEST>                                2,988
<INTEREST-OTHER>                                   230
<INTEREST-TOTAL>                                12,661
<INTEREST-DEPOSIT>                               4,337
<INTEREST-EXPENSE>                               7,705
<INTEREST-INCOME-NET>                            4,956
<LOAN-LOSSES>                                       45
<SECURITIES-GAINS>                                (69)
<EXPENSE-OTHER>                                  3,031
<INCOME-PRETAX>                                  2,493
<INCOME-PRE-EXTRAORDINARY>                       1,530
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,530
<EPS-BASIC>                                        .38
<EPS-DILUTED>                                      .37
<YIELD-ACTUAL>                                    2.93
<LOANS-NON>                                        528
<LOANS-PAST>                                       208
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 3,273
<CHARGE-OFFS>                                        0
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                3,318
<ALLOWANCE-DOMESTIC>                             1,944
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          1,374


</TABLE>