Home Federal Bancorp Inc. of Shreveport, La., has launched a syndicated community offering to complete a second-step conversion.

The $170 million-asset company said late Tuesday that it is selling stock at $10 a share and must sell at least 1.59 million shares to complete the conversion.

Home Federal has tried to become wholly stock owned before. In late 2007, it announced it would convert and use the proceeds to buy First Louisiana Banchsares Inc., but the deal fell through because of market turmoil from the subprime meltdown. In July, it revived the effort to convert.

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