Commission File Number 001-35019 HOME FEDERAL BANCORP, INC. These persons are not separately compensated by Home Federal Bancorp. The casino gaming industry also supports a significant number of the service jobs. We face significant competition both in attracting deposits and in making loans. In accordance with past practice, all loans are ratified by our board of directors. Loans were sold during these periods primarily to other financial institutions. Such loans are underwritten based on the initial rate plus 2%. We offer lines of credit secured by a borrower's equity in real estate. Lines of credit will not exceed 90% of the value of the equity in the collateral. Consumer Non-Real Estate Loans. We expect these reviews will be done annually. At 15 days past due, a late charge notice is sent to the borrower requesting payment. In most cases, deficiencies are cured promptly. There were no loans classified as doubtful at June 30, 2020 or June 30, 2019. Bad debt recoveries amounted to $120,000 during fiscal 2020. The amounts reflect the fair value of our mortgage-backed securities at June 30, 2020. Deposits are our primary source of funds for lending and other investment purposes. There were no amounts purchased under this agreement as of June 30, 2020. At June 30, 2020, the line had an outstanding balance of $2.3 million. Home Federal Bancorp qualifies for the exclusion from the Volcker Rule restrictions. Regulation of Home Federal Bank General. The CBLR is equal to Tier 1 capital divided by average total consolidated assets. Furthermore, Section 22(g) places additional restrictions on loans to executive officers. At June 30, 2020, Home Federal Bank had met its reserve requirement. At June 30, 2020, the total federal pre-1988 reserve was approximately $3.3 million. and during which we may experience a recession. 8226; Cross-Selling Products and Services and Emphasizing Local Decision Making. We have not purchased any loans since fiscal 2008. Subsequent recoveries, if any, are credited to the allowance. Provision for Income Tax Expense. Our liquidity ratio averaged 24.97% for the quarter ended June 30, 2020. Home Federal Bank has made that election. 46 Item 7A. Quantitative and Qualitative Disclosure About Market Risk Not applicable. Accordingly, we express no such opinion. The Bank is the beneficiary of these policies. This ASU was effective upon issuance. Early adoption is permitted, but no earlier than an entity's adoption on Topic 606. In August 2018, the FASB issued ASU No. On January 1, 2019, the Company adopted ASU No. OF LOUISIANA AND SUBSIDIARY Notes to Consolidated Financial Note 3. These letters of credit were issued to secure public body deposits. This plan complies with the requirements of Section 401(k) of the Internal Revenue Code. Mr. Herndon was 100% vested after December 31, 2017. No material gains or losses are anticipated as a result of these transactions. The carrying amount of accrued interest receivable approximates its fair value. There have been no changes in the methodologies used during the year ended June 30, 2020. Filed Herewith 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document. Holders of our common stock do not have cumulative voting in the election of directors.