8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 23, 2008

HOPFED BANCORP, INC.

(Exact name of Registrant as Specified in Charter)

Delaware	0-23667	61-1322555
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

4155 Lafayette Road, Hopkinsville, Kentucky 42240

(Address of Principal Executive Offices)

(270) 885-1171

Registrant’s telephone number, including area code

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On April 23, 2008, the Registrant announced its results of operations for the first quarter ended March 31, 2008.

A copy of the related press release, dated April 23, 2008, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits.

99.1 Press Release dated April 23, 2008 – furnished pursuant to Item 2.02 as part of this Current Report on Form 8-K and is not to be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	HOPFED BANCORP, INC.
Dated: April 25, 2008	By:	/s/ John E. Peck
		John E. Peck
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number
99.1	Press Release dated April 23, 2008.

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EX-99.1

EXHIBIT 99.1

NEWS

FOR IMMEDIATE RELEASE	CONTACT:	John E. Peck
		President and CEO
		(270) 885-1171

HOPFED BANCORP, INC. REPORTS FIRST QUARTER RESULTS

HOPKINSVILLE, Ky. (April 23, 2008) – HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”) today reported results for the first quarter ended March 31, 2008. Net income for the first quarter ended March 31, 2008, was $1,492,000, or $0.42 per share (basic and diluted), compared with net income of $1,022,000, or $0.28 per share (basic and diluted), for the first quarter ended March 31, 2007.

Commenting on the first quarter results, John E. Peck, president and chief executive officer, said, “The Company’s net interest margin improved during the quarter as we were able to reduce our cost of liabilities without experiencing a reduction in total deposits. For the three months ended March 31, 2008, the Company’s net interest margin was 3.05%, as compared to 2.89% for the twelve months ended December 31, 2007. Customer demand for deposit services remains robust and the addition of twenty-four cash machines in western Kentucky enhances our visibility in the marketplace. The Company’s loan growth is in line with management’s projections.”

Mr. Peck continued, “The combination of eighteen convenient full service retail locations, 64 cash machines, free online banking with free bill pay and exceptional customer service has resulted in a record growth of new checking account customers. The Bank’s 2008 marketing plan is focused on promoting and growing all deposit accounts, with an emphasis on checking accounts. As a result of these efforts, service charge income in the first quarter of 2008 increased by $175,000 as compared to the first quarter of 2007. Management will continue to focus on improving the Company’s deposit mix, reducing our interest expense while improving our net interest margin and growing non-interest income.”

Commenting on changes in the investment portfolio, Mr. Peck said, “During the first quarter of 2008, the Federal Reserve aggressively reduced the federal funds rate. The reduction in short-term interest rates provided the opportunity for the Company to realize $534,000 in gains on the sales of securities, the vast majority being agency bonds. Coupled with other issues in the credit markets, the Company was able to reinvest these funds into agency mortgage-backed securities at attractive yields.

“In addition, at March 31, 2008, total assets increased to $812.6 million compared with $808.4 million at December 31, 2007, deposits increased to $601.7 million compared with $598.8 million at December 31, 2007, while net loans increased to $585.7 million compared with $576.3 million at December 31, 2007. Federal Home Loan Bank borrowings have decreased to $98.2 million at March 31, 2008, compared to $101.9 million at December 31, 2007.”

HopFed Bancorp, Inc. is the holding company for Heritage Bank headquartered in Hopkinsville, Kentucky. The Bank has eighteen offices in western Kentucky and middle Tennessee as well as Fall & Fall Insurance of Fulton, Kentucky, Heritage Solutions of Murray, Kentucky, Dickson, Tennessee and Pleasant View, Tennessee and Heritage Mortgage Services of Clarksville, Tennessee. The Bank offers a broad line of banking and financial products and services with the personalized focus of a community banking organization. More information about HopFed Bancorp and Heritage Bank may be found on its website www.bankwithheritage.com.

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4155 Lafayette Road, P.O. Box 537, Hopkinsville, KY 42241

Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risk, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the Company’s operating results, performance or financial condition are competition and the demand for the Company’s products and services, and other factors as set forth in filings with the Securities and Exchange Commission.

HOPFED BANCORP, INC.

Selected Financial Data

(In thousands, except per share data)

	Three Months Ended March 31,
	2008		2007
Earnings Summary
Interest income on loans	$	10,679	$	9,520
Interest income on investments, taxable		1,677		1,967
Interest income on investments, tax exempt		164		122
Interest income on fed funds		58		171
Total interest income		12,578		11,780
Interest expense on deposits		5,463		5,320
Interest expense on subordinated debentures		161		187
Interest expense on repurchase agreements		329		248
Interest expense on FHLB advances		1,068		1,101
Total interest expense		7,021		6,856
Net interest income		5,557		4,924
Provision for loan losses		401		240
Net interest income after provision for loan losses		5,156		4,684
Non-interest income:
Income from financial services		240		301
Gain on sale of investments		534		—
Gain on sale of loans		64		27
Service charges		1,067		892
Income from bank owned life insurance		68		93
Merchant card income		132		119
Other		299		309
Total non-interest income		2,404		1,741

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HFBC Announces First Quarter Results

Page 3

April 23, 2008

	Three Months Ended March 31,
	2008		2007
Non-interest expense:
Salaries and benefits	$	2,901	$	2,589
Intangible amortization		220		241
Occupancy expense		687		613
Data processing		534		430
State deposit taxes		128		128
Advertising expense		282		253
Professional services expense		256		370
Postage and telephone expense		155		126
Office supplies expense		80		102
Other operating expenses		171		136
Total non-interest expense		5,414		4,988
Net income before income taxes		2,146		1,437
Income tax expense		654		415
Net income	$	1,492	$	1,022
Earnings per share - basic	$	0.42	$	0.28
Earnings per share - diluted	$	0.42	$	0.28
Dividend per share	$	0.12	$	0.12
Weighted average shares outstanding - Basic		3,568,556		3,629,520
Weighted average shares outstanding - Diluted		3,583,017		3,654,726

	As of
	March 31, 2008			December 31, 2007
Total assets	$	812,611		$	808,352
Loans receivable, gross		590,555			581,094
Securities available for sale		146,339			142,310
Securities held to maturity		4,037			14,095
Federal Home Loan Bank stock, at cost		3,943			3,836
Allowance for loan losses		4,862			4,842
Total deposits		601,728			598,753
FHLB borrowings		98,202			101,882
Repurchase agreements		39,181			37,199
Stockholder’s equity		57,250			55,803
Book value per share	$	16.02		$	15.54
Allowance for loan loss as a percent of gross loans		0.82	%		0.83	%
Non performing assets as a percent of assets		0.20	%		0.12	%
Non-accrual loans as a percent of gross loans		0.21	%		0.10	%
Net yield on interest earning assets		3.05	%		2.89	%

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