8-K

UNITED STATES

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) October 20, 2016

Home Federal Bancorp, Inc. of Louisiana

(Exact name of registrant as specified in its charter)

Louisiana	001-35019	02-0815311
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

624 Market Street, Shreveport, Louisiana		71101
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code (318) 222-1145

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 (see General Instruction A.2 below):
☐	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 October 20, 2016, Home Federal Bancorp, Inc. of Louisiana (the "Company") reported its results of operations for the three months ended September 30, 2016.

For additional information, reference is made to the Company's press release dated October 20, 2016, which is included as Exhibit 99.1 hereto and is incorporated herein by reference thereto.  The press release attached hereto is being furnished to the Securities and Exchange Commission and shall not be deemed to be "filed" for any purpose except as otherwise provided herein.

Item 9.01              Financial Statements and Exhibits

(a)Not applicable.

(b)Not applicable.

(c)Not applicable.

(d)Exhibits.

The following exhibit is filed herewith.

Exhibit Number	Description
99.1	Press release dated October 20, 2016

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 thereunto duly authorized.

	HOME FEDERAL BANCORP, INC. OF LOUISIANA
Date: October 20, 2016	By:	/s/Glen W.  Brown
		Glen W. Brown
		Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated October 20, 2016

EX-99.1

EXHIBIT 99.1

FOR RELEASE: Thursday, October 20, 2016 at 4:30 PM (Eastern)

HOME FEDERAL BANCORP, INC. OF LOUISIANA REPORTS RESULTS OF OPERATIONS

FOR THE QUARTER ENDED SEPTEMBER 30, 2016

Shreveport, Louisiana – October 20, 2016 – Home Federal Bancorp, Inc. of Louisiana (the "Company") (Nasdaq: HFBL), the holding company of Home Federal Bank, reported net income for the three months ended September 30, 2016 of $1.0 million, an increase of $61,000, or 6.5%, compared to net income of $941,000 reported for the three months ended September 30, 2015. The Company's basic and diluted earnings per share were $0.55 and $0.53, respectively, for the three months ended September 30, 2016 compared to basic and diluted earnings per share of $0.49 and $0.47, respectively, for the quarter ended September 30, 2015.

The increase in net income for the three months ended September 30, 2016 resulted primarily from an increase of $279,000, or 8.8%, in net interest income and a $206,000, or 22.6%, increase in non-interest income, partially offset by a $142,000, or 5.4%, increase in non-interest expense, a $235,000, or 361.5%, increase in the provision for loan losses, and a $47,000, or 10.4%, increase in the provision for income tax expense. The increase in net interest income for the three months ended September 30, 2016 was primarily due to a $250,000, or 6.5%, increase in total interest income, and a decrease of $29,000, or 4.3%, in aggregate interest expense primarily due to a decrease in the average interest rate paid on deposits.  The Company's average interest rate spread was 3.60% for the three months ended September 30, 2016 compared to 3.45% for the three months ended September 30, 2015. The Company's net interest margin was 3.78% for the three months ended September 30, 2016, compared to 3.65% for the three months ended September 30, 2015. The increase in the average interest rate spread on a comparative quarterly basis was primarily the result of an increase of six basis points in average yield on interest-earning assets.  The increase in net interest margin was primarily the result of a higher average volume of interest-earning assets for the three months ended September 30, 2016 compared to the prior year quarterly period.

The following table sets forth the Company's average balances and average yields earned and rates paid on its interest-earning assets and interest-bearing liabilities for the periods indicated.

	For the Three Months Ended September 30,
	2016					2015
	Average Balance		Average Yield/Rate			Average Balance		Average Yield/Rate
	(Dollars in thousands)
Interest-earning assets:
Loans receivable	$	306,546		5.08	%	$	284,158		5.12	%
Investment securities		57,052		1.38			43,970		1.82
Interest-earning deposits		2,663		0.64			20,346		0.17
Total interest-earning assets	$	366,261		4.47	%	$	348,474		4.41	%
Interest-bearing liabilities:
Savings accounts	$	29,547		0.43	%	$	20,169		0.35	%
NOW accounts		36,181		0.56			35,172		0.87
Money market accounts		47,909		0.32			47,701		0.32
Certificates of deposit		134,340		1.25			145,756		1.30
Total interest-bearing deposits		247,977		0.87			248,798		0.97
Other borrowings		400		3.33			--		--
FHLB advances		45,856		0.83			30,371		0.82
Total interest-bearing liabilities	$	294,233		0.87	%	$	279,169		0.96	%

         The $206,000 increase in non-interest income for the three months ended September 30, 2016 compared to the prior year quarterly period was due to an increase of $110,000 in gain on sale of real estate, $73,000 in gain on sale of loans, and an increase of $29,000 in service charges on deposit accounts, partially offset by a decrease of $3,000 in other non-interest income and income on bank owned life insurance.  The Company sells most of its long term fixed rate residential mortgage loan originations primarily in order to manage interest rate risk.

The $142,000 increase in non-interest expense for the three months ended September 30, 2016 compared to the same period in 2015, is primarily attributable to increases of $68,000 in occupancy and equipment expense, $25,000 in data processing expense, $16,000 in loan and collection expense, $15,000 in legal fees, $14,000 in compensation and benefits expense, $11,000 in advertising expense, $4,000 in franchise and bank share tax expense, and $2,000 in audit and examination fees and other non-interest expense. The increases were partially offset by a decrease of $15,000 in deposit insurance premiums.

At September 30, 2016, the Company reported total assets of $389.5 million, an increase of $7.8 million, or 2.1%, compared to total assets of $381.7 million at June 30, 2016. The increase in assets was comprised primarily of increases in investment securities of $6.4 million, or 12.2%, from $52.5 million at June 30, 2016 to $58.9 million at September 30, 2016, loans held-for-sale of $3.1 million, or 25.7%, from $11.9 million at June 30, 2016 to $15.0 million at September 30, 2016,  and an increase in cash and cash equivalents of $1.5 million, or 31.7%, from $4.8 million at June 30, 2016 to $6.3 million at September 30, 2016.   These increases were partially offset by a decrease in loans receivable, net of $3.2 million, or 1.1%, from $290.8 million at June 30, 2016 to $287.6 million at September 30, 2016.  The increase in held-to-maturity securities was due to a security purchase in August 2016 for $10.5 million.  We chose to place the security in held-to-maturity in order to help maintain liquidity levels.  The increase in loans held-for-sale results primarily from an increase at September 30, 2016 in receivables from financial institutions purchasing the Company's loans held-for-sale.

The following table shows total loans originated and sold during the periods indicated.

	Quarter Ended September 30,
	2016			2015			% Change
	(In thousands)
Loan originations:
One- to four-family residential	$	37,139		$	31,490			17.9	%
Commercial — real estate secured:
Owner occupied		25,852			9,143			182.8	%
Non-owner occupied		2,381			268			788.4	%
Multi-family residential		774			10			7,640.0	%
Commercial business		7,462			7,714			(3.3	)%
Land		3,506			306			1,045.8	%
Construction		3,332			5,884			(43.4	)%
Home equity loans and lines of credit and other consumer		2,248			1,846			21.8	%
Total loan originations	$	82,694		$	56,661			45.9	%
Loans sold	$	(28,650	)	$	(30,261	)		(5.3	)%

Included in the $3.3 million and $5.9 million of construction loan originations for the three months ended September 30, 2016 and 2015, respectively, are approximately $3.1 million and $5.8 million, respectively, of one- to four-family residential construction loans and $258,000 and $135,000, respectively, of commercial and multi-family construction loans, all of which are primarily located in the Company's market area.

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             Total liabilities increased $7.3 million, or 2.1%, from $338.3 million at June 30, 2016 to $345.6 million at September 30, 2016 primarily due to an increase in total deposits of $11.5 million, or 4.0%, to $299.3 million at September 30, 2016 compared to $287.8 million at June 30, 2016, partially offset by a decrease in advances from the Federal Home Loan Bank of $5.4 million, or 11.3%, to $42.3 million at September 30, 2016 compared to $47.7 million at June 30, 2016.  The increase in deposits was primarily due to an $8.1 million, or 20.6%, increase in non-interest bearing demand deposits from $39.3 million at June 30, 2016 to $47.4 million at September 30, 2016, a $6.8 million, or 5.1%, increase in certificates of deposit from $132.5 million at June 30, 2016 to $139.3 million at September 30, 2016, and a $1.3 million, or 4.5%, increase in savings deposits from $29.0 million at June 30, 2016 to $30.3 million at September 30, 2016, partially offset by a decrease of $3.0 million, or 7.9%, in NOW accounts from $37.8 million at June 30, 2016 to $34.8 million at September 30, 2016 and a decrease of $1.7 million, or 3.5%, in money market deposits from $49.2 million at June 30, 2016 to $47.5 million at September 30, 2016. At September 30, 2016, the Company had $13.0 million in brokered deposits compared to $8.2 million at June 30, 2016. We made a purchase of $5.8 million in new brokered deposits in September 2016 to replace some brokered deposits that had matured during the previous twelve months. The brokered certificates of deposit which have maturity dates greater than twelve months are callable by Home Federal Bank after twelve months pursuant to early redemption provisions.

At September 30, 2016, the Company had $1.1 million of non-performing assets compared to $114,000 of non-performing assets at June 30, 2016 consisting of four single-family residential loans and one land loan at September 30, 2016 compared to two single family residential loans at June 30, 2016. At September 30,2016, the Company had three single family residential loans, one commercial real estate loan, one land loan, and nine commercial business loans to one borrower classified as substandard compared to two single family residential loans, one commercial real estate loan and nine commercial business loans to one borrower at June 30, 2016. There were no loans classified as doubtful at September 30, 2016 or June 30, 2016.  Subsequent to the quarter ended September 30, 2016, we became aware that the single borrower related to the nine commercial business loans in the aggregate amount of $2.0 million that were classified as substandard filed for Chapter 11 (reorganization) bankruptcy protection in October 2016.  We are continuing to monitor these credits and presently believe that our allowance for loan losses at September 30, 2016 is adequate.  No additional losses are currently anticipated with respect to these loans.

Shareholders' equity increased $581,000, or 1.3%, to $44.0 million at September 30, 2016 from $43.4 million at June 30, 2016.  The primary reasons for the increase in shareholders' equity from June 30, 2016 were net income of $1.0 million, the vesting of restricted stock awards, stock options and the release of employee stock ownership plan shares totaling $161,000, and proceeds from the issuance of common stock from the exercise of stock options of $39,000.  These increases in shareholders' equity were partially offset by dividends paid totaling $177,000, acquisition of Company stock of $247,000, and a decrease in the Company's accumulated other comprehensive income of $198,000.

The Company repurchased 9,998 shares of its common stock under its stock repurchase program during the quarter ended September 30, 2016 at an average price per share of $22.63. On October 12, 2016, the Company announced that its Board of Directors approved a seventh stock repurchase program for the repurchase of up to 97,000 shares to commence after the completion of the sixth stock repurchase program.  As of September 30, 2016, there were a total of 21,813 shares remaining for repurchase under the sixth stock repurchase program.

Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its six full-service banking offices and home office in northwest Louisiana.

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                Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may."  We undertake no obligation to update any forward-looking statements.

Home Federal Bancorp, Inc. of Louisiana
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
	September 30, 2016		June 30, 2016
	(Unaudited)
ASSETS
Cash and cash equivalents	$	6,265	$	4,756
Securities available for sale at fair value		46,109		50,173
Securities held to maturity (fair value September 30, 2016: $12,750; June 30, 2016: $2,349)		12,838		2,349
Loans held-for-sale		14,980		11,919
Loans receivable, net of allowance for loan losses (September 30, 2016: $3,137; June 30, 2016: $2,845)		287,634		290,827
Premises and equipment, net		12,060		12,366
Other assets		9,656		9,311
Total assets	$	389,542	$	381,701
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits	$	299,325	$	287,822
Advances from the Federal Home Loan Bank of Dallas		42,301		47,665
Other borrowings		400		400
Other liabilities		3,543		2,422
Total liabilities		345,569		338,309
Shareholders' equity		43,973		43,392
Total liabilities and shareholders' equity	$	389,542	$	381,701

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Home Federal Bancorp, Inc. of Louisiana

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

	Three Months Ended
	September 30,
	2016		2015
	(Unaudited)
Interest income
Loans, including fees	$	3,894	$	3,636
Investment securities		5		6
Mortgage-backed securities		192		195
Other interest-earning assets		4		8
Total interest income		4,095		3,845
Interest expense
Deposits		540		605
Other Borrowings		3		--
Federal Home Loan Bank borrowings		95		62
Total interest expense		638		667
Net interest income		3,457		3,178
Provision for loan losses		300		65
Net interest income after provision for loan losses		3,157		3,113
Non-interest income
Gain on sale of loans		798		725
Gain on sale of real estate		110		-
Income on Bank Owned Life Insurance		37		40
Service charges on deposit accounts		163		134
Other income		10		13
Total non-interest income		1,118		912
Non-interest expense
Compensation and benefits		1,722		1,708
Occupancy and equipment		307		239
Data processing		155		130
Audit and examination fees		52		50
Franchise and bank shares tax		95		91
Advertising		72		61
Legal fees		81		66
Loan and collection		99		83
Deposit insurance premium		45		60
Other expenses		147		145
Total non-interest expense		2,775		2,633
Income before income taxes		1,500		1,392
Provision for income tax expense		498		451
NET INCOME	$	1,002	$	941
EARNINGS PER SHARE
Basic	$	0.55	$	0.49
Diluted	$	0.53	$	0.47

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	Three Months Ended
	September 30,
	2016			2015
Selected Operating Ratios(1):
Average interest rate spread		3.60	%		3.45	%
Net interest margin		3.78	%		3.65	%
Return on average assets		1.02	%		1.01	%
Return on average equity		8.58	%		8.21	%
Asset Quality Ratios(2):
Non-performing assets as a percent of total assets		0.29	%		0.08	%
Allowance for loan losses as a percent of non-performing loans		278.95	%		904.15	%
Allowance for loan losses as a percent of total loans receivable		1.08	%		0.96	%
Per Share Data:
Shares outstanding at period end		1,959,419			2,100,241
Weighted average shares outstanding:
Basic		1,812,578			1,927,478
Diluted		1,877,509			1,991,140
Tangible book value at period end	$	22.44		$	20.96

____________

(1)Ratios for the three month periods are annualized.

(2)Asset quality ratios are end of period ratios.

CONTACT: James R. Barlow President and Chief Executive Officer (318) 222-1145

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