Here's some from a piece I have in the weekend edition about a HMN Financial board member selling quite of stock last week.
Recently I started tracking the SEC filings for most of the stocks based locally or with a large local presence. This was the first major stock move I saw at HMN. That coupled by the Home Federal's challenges including the suspected fraud Tom Petters made this newsworthy, in my opinion.
Here's some from the piece:
While the sale of more than 10,000 shares of stock by a Home Federal Bank board member is unusual, the seller says his confidence in the bank is stronger than ever.
Business leader and former state legislator Duane Benson, of Lanesboro, sold 10,543 shares of Rochester-based HMN Financial Inc., the parent of Home Federal Bank.
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"It is not a big deal," said Benson, who is listed by the SEC as an insider of HMN. "My confidence in Home Federal is better than ever. I think our foundation is very solid."
The sales, which reduced his direct holdings to 3,857 shares, were done on the advice of his financial planner as an adjustment.
"branches in Minnesota and Iowa.I feel very good about the bank, and I plan on buying it back next year," Benson said.
