HMN Financial is the holding company for Home Federal Savings Bank, which operates about a dozen branches in southern Minnesota and central Iowa. Serving individuals and local businesses, the bank offers such deposit products as checking and savings accounts, CDs, and IRAs. Its lending activities include commercial mortgages (more than 30% of the company's loan portfolio), business loans (about 25%), residential mortgages, and construction, development, and consumer loans. The bank provides financial planning, investment management, and investment products through its Osterud Insurance Agency subsidiary and Home Federal Investment Management.