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OCT 22, 2008 1:00am ET

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HMN Financial's Earnings Press Release (PDF)
Benchmark Profile: Risk and Performance Metrics for HMN Financial
3Q '08 Earnings Scorecard
OCTOBER 21, 2008

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3Q EARNINGS

Writeoff Drives HMN to a Loss

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HMN Financial of Rochester, Minn., lost $7.1M, or $1.93 a share, in the third quarter after writing off a large commercial loan and setting aside $3.4M for two ...

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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