Hoyne Bancorp (HYNE)
Market Price (3/30/2026): $14.3 | Market Cap: $-Sector: Financials | Industry: Regional Banks
Hoyne Bancorp (HYNE)
Market Price (3/30/2026): $14.3Market Cap: $-Sector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Low stock price volatilityVol 12M is 18% | Trading close to highsDist 52W High is -3.5%, Dist 3Y High is -3.5% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -16% |
| Megatrend and thematic driversMegatrends include Local & Community Banking. Themes include Community Lending, Local Deposit Solutions, and Personalized Financial Services. | Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -59% | Key risksHYNE key risks include credit quality deterioration from [1] a potential overconcentration in its commercial real estate and consumer loan portfolios and [2] elevated delinquencies already noted in consumer credit cards. |
| Low stock price volatilityVol 12M is 18% |
| Megatrend and thematic driversMegatrends include Local & Community Banking. Themes include Community Lending, Local Deposit Solutions, and Personalized Financial Services. |
| Trading close to highsDist 52W High is -3.5%, Dist 3Y High is -3.5% |
| Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -59% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -16% |
| Key risksHYNE key risks include credit quality deterioration from [1] a potential overconcentration in its commercial real estate and consumer loan portfolios and [2] elevated delinquencies already noted in consumer credit cards. |
Qualitative Assessment
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Hoyne Bancorp (HYNE) stock has gained about 5% since it went public on 12/4/2025 because of the following key factors:
1. Successful Conversion and Strong IPO Debut. Hoyne Bancorp completed its conversion from a mutual holding company to a stock holding company and its initial public offering on December 4, 2025. The stock opened for trading on the Nasdaq at $13.35 per share, representing a significant 34% premium over its $10.00 IPO offering price. This robust initial market reception highlighted strong investor demand and confidence in the company, having raised approximately $79.4 million in gross proceeds to fund future growth initiatives.
2. Conservative Operating Model. The company maintains a conservative operational strategy, characterized by net loans constituting 54.8% of its total assets. Its loan portfolio is primarily focused on residential mortgages (43.7%), with limited exposure to commercial real estate (25.6%). This prudent approach likely attracted investors seeking stability within the banking sector, contributing to a sustained positive sentiment for the stock.
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1. Successful Conversion and Strong IPO Debut. Hoyne Bancorp completed its conversion from a mutual holding company to a stock holding company and its initial public offering on December 4, 2025. The stock opened for trading on the Nasdaq at $13.35 per share, representing a significant 34% premium over its $10.00 IPO offering price. This robust initial market reception highlighted strong investor demand and confidence in the company, having raised approximately $79.4 million in gross proceeds to fund future growth initiatives.
2. Conservative Operating Model. The company maintains a conservative operational strategy, characterized by net loans constituting 54.8% of its total assets. Its loan portfolio is primarily focused on residential mortgages (43.7%), with limited exposure to commercial real estate (25.6%). This prudent approach likely attracted investors seeking stability within the banking sector, contributing to a sustained positive sentiment for the stock.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| HYNE | ||
| Market (SPY) | -5.3% | 3.8% |
| Sector (XLF) | -10.0% | 26.7% |
Fundamental Drivers
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Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| HYNE | ||
| Market (SPY) | 0.6% | 3.8% |
| Sector (XLF) | -10.8% | 26.7% |
Fundamental Drivers
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Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| HYNE | ||
| Market (SPY) | 9.8% | 3.8% |
| Sector (XLF) | -7.1% | 26.7% |
Fundamental Drivers
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Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| HYNE | ||
| Market (SPY) | 69.4% | 3.8% |
| Sector (XLF) | 40.5% | 26.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HYNE Return | - | - | - | - | 3% | 1% | 4% |
| Peers Return | 42% | -20% | 22% | 16% | 9% | 1% | 76% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| HYNE Win Rate | - | - | - | - | 100% | 67% | |
| Peers Win Rate | 62% | 47% | 45% | 60% | 55% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| HYNE Max Drawdown | - | - | - | - | -2% | -3% | |
| Peers Max Drawdown | -6% | -34% | -31% | -15% | -25% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: USB, TFC, AX, LOB, AMAL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
HYNE has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -26.9% | -25.4% |
| % Gain to Breakeven | 36.7% | 34.1% |
| Time to Breakeven | 525 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.3% | -33.9% |
| % Gain to Breakeven | 76.5% | 51.3% |
| Time to Breakeven | 295 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.1% | -19.8% |
| % Gain to Breakeven | 35.2% | 24.7% |
| Time to Breakeven | 338 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -83.7% | -56.8% |
| % Gain to Breakeven | 515.2% | 131.3% |
| Time to Breakeven | 4,470 days | 1,480 days |
Compare to USB, TFC, AX, LOB, AMAL
In The Past
SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.
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About Hoyne Bancorp (HYNE)
Hoyne Bancorp, Inc. is a Delaware corporation which was incorporated in June 2025. The offering of common stock by means of this prospectus is being made by Hoyne Bancorp, Inc. in connection with the conversion of Hoyne Savings, MHC from the mutual holding company structure to stock holding company structure. Upon completion of the conversion, Hoyne Bancorp, Inc. will become the savings and loan holding company for Hoyne Savings Bank by owning all of the outstanding shares of capital stock of Hoyne Savings Bank. As a savings and loan holding company, Hoyne Bancorp, Inc. will be regulated by the Board of Governors of the Federal Reserve System (“Federal Reserve Board”). To date, Hoyne Bancorp, Inc. has engaged in organizational activities only. Following the conversion, Hoyne Bancorp, Inc.’s primary business activity will relate to owning all of the outstanding shares of capital stock of Hoyne Savings Bank. Hoyne Savings Bank, an Illinois-chartered stock savings bank, was established in 1887 and since its inception has operated as a savings institution focused primarily on serving the banking needs of customers in our market area of Cook County, Illinois and adjacent communities. We operate from our headquarters and main banking office in Chicago, Illinois, and we have five additional full-service branch offices in Illinois located in Chicago, Oak Lawn, Wheeling and Worth. We also have a loan production office in Oak Park, Illinois. In 2004, Hoyne Savings Bank reorganized into the mutual holding company form of organization. Currently, Hoyne Savings Bank is a wholly owned subsidiary of Hoyne Financial Corporation, a federally chartered corporation which is a wholly owned subsidiary of Hoyne Savings, MHC, a federally chartered mutual holding company. The mutual holding company has not issued any shares of capital stock to the public. Prospect Services Inc., an insurance brokerage company, was Hoyne Savings Bank’s sole subsidiary and was dissolved in 2025. In April 2017, Prospect Federal Savings Bank, a federal mutual savings bank, merged with and into Hoyne Savings Bank, and in 2020, Loomis Federal Savings and Loan Association, a federal mutual savings association, also merged with and into Hoyne Savings Bank. In 2022, we hired Walter F. Healy, previously the chief executive officer of an Illinois-chartered commercial bank in Oak Park, Illinois, to lead a new commercial lending division and begin originating commercial real estate loans (including commercial construction) and commercial and industrial loans in addition to our traditional offering of one to four residential loans and home equity loans. Mr. Healy brought to Hoyne Savings Bank a team of experienced commercial bankers, with whom he has worked for over twenty years. Mr. Healy was appointed president of Hoyne Savings, MHC, Hoyne Financial Corporation and Hoyne Savings Bank in September 2023 and appointed Chief Executive Officer of those organizations in July 2024 upon the retirement of Steven F. Rosenbaum. As of June 30, 2025, we had total assets of $453.4 million, total deposits of $357.2 million and equity of $88.9 million. Historically our lending focus has been on making long-term loans to individuals secured by first mortgages on the borrower’s residence and, to a lesser extent, home equity loans. As part of our transition to a more diversified banking institution beginning in 2023, we now offer commercial real estate loans (including commercial construction) and commercial and industrial loans. As of June 30, 2025, $124.7 million, or 48.8%, of our total loan portfolio consisted of commercial real estate (including commercial construction) and commercial and industrial loans. Conversion of Hoyne Savings, MHC Pursuant to the terms of Hoyne Savings, MHC’s plan of conversion, Hoyne Savings, MHC will convert from the mutual holding company to the stock holding company corporate structure. Upon the completion of the conversion, Hoyne Savings, MHC, and Hoyne Financial Corporation will cease to exist, and Hoyne Savings Bank will be a wholly owned subsidiary of Hoyne Bancorp, Inc. At present, all depositors and certain borrowers as of a specified eligibility date have voting rights in Hoyne Savings, MHC as to all matters requiring member approval. Upon completion of the conversion, depositors and those certain borrowers as of a specified eligibility date of Hoyne Savings Bank will cease to have any voting rights in Hoyne Savings, MHC and all voting rights in Hoyne Savings, MHC will be vested in Hoyne Bancorp, Inc. as the sole stockholder of Hoyne Savings Bank. The stockholders of Hoyne Bancorp, Inc. will possess exclusive voting rights and rights to Hoyne Bancorp, Inc. stock. --- For 138 years, we have served Cook County, Illinois and the surrounding communities. We have established deep ties to the community and developed customer relationships which have spanned generations. We pride ourselves in matching our products and services to the needs of the community. As a mutual institution, Hoyne Savings Bank completed two mutual to mutual mergers with Loomis Federal Savings and Loan Association in 2020, adding $64 million in assets, and Prospect Federal Savings Bank in 2017, adding $235 million in assets. Hoyne Savings Bank’s principal business consists of originating commercial real estate loans (including commercial construction), commercial and industrial loans, one to four residential properties, and to a lesser extent home equity loans and lines of credit and other consumer loans in the market areas surrounding our branch footprint. We also established a loan production office in Oak Park, Illinois in 2023. We attract retail deposits from the general public as well as deposits from commercial customers in the areas surrounding our main office and branches, offering a wide variety of deposit products and services. We also invest in securities. Our revenues are derived primarily from interest on loans and investment securities. Our primary sources of funds are deposits, and principal and interest payments on loans and investment securities. Our headquarters and main banking office is located in Chicago, Illinois.
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- It's like a hyper-local version of a regional bank such as Associated Banc-Corp, focusing on Chicago-area communities and actively growing its commercial lending.
- Think of a century-old neighborhood savings bank that's modernizing and aggressively expanding into commercial real estate and business loans, similar to how dynamic regional banks like Wintrust Financial have grown in the Chicago area.
- It's a traditional local bank that’s shifting to become a more diversified lender for local businesses, akin to a smaller Fifth Third Bank serving a very specific set of communities in Cook County.
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- Residential Mortgage Loans: Long-term loans to individuals secured by first mortgages on their residence.
- Home Equity Loans and Lines of Credit: Loans and lines of credit secured by the equity in a borrower's home.
- Commercial Real Estate Loans: Loans for commercial properties, including commercial construction projects.
- Commercial and Industrial (C&I) Loans: Loans provided to businesses for various purposes.
- Other Consumer Loans: Various other types of loans offered to individual consumers.
- Deposit Products and Services: A variety of products for attracting deposits from retail customers and businesses.
- Investment Securities: Investment in securities to generate revenue.
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Hoyne Bancorp (HYNE), through its subsidiary Hoyne Savings Bank, primarily serves two broad categories of customers within its market area of Cook County, Illinois, and adjacent communities:
- Individuals and Homeowners: This category includes customers who utilize the bank's services for residential mortgage loans (including those for one-to-four family properties), home equity loans and lines of credit, and other consumer loans. It also encompasses members of the general public who maintain retail deposits with the bank.
- Businesses and Commercial Entities: This category includes businesses and commercial customers who obtain commercial real estate loans (including commercial construction) and commercial and industrial loans from the bank. It also includes commercial clients who establish various deposit accounts.
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Walter F. Healy, President and Chief Executive Officer
Mr. Healy was appointed President of Hoyne Savings, MHC, Hoyne Financial Corporation, and Hoyne Savings Bank in September 2023, and Chief Executive Officer of those organizations in July 2024. He joined Hoyne Savings Bank in 2022 as Executive Vice President – Commercial Lending to establish a new commercial division, bringing with him a team of experienced commercial bankers. Prior to Hoyne, Mr. Healy served as President and Chief Executive Officer of Community Bank of Oak Park River Forest for more than 15 years. He was a founding shareholder of Community Bank, which he helped establish in 1996. Information regarding him selling companies he was previously involved with to an acquirer or a pattern of managing companies backed by private equity firms is not available.
Thomas S. Manfre, Executive Vice President and Chief Financial Officer
No specific background information fulfilling the requested criteria is available.
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Key Risks to Hoyne Bancorp (HYNE):
- Credit Risk from Commercial Lending Expansion: Hoyne Bancorp has rapidly expanded its commercial real estate (including commercial construction) and commercial and industrial loan portfolios, which constituted 48.8% of its total loan portfolio as of June 30, 2025. This significant shift from its historical focus on one-to-four family residential loans introduces heightened credit risk, as these commercial loan types are generally more sensitive to economic cycles, carry potentially larger individual exposure, and require different risk management expertise compared to traditional residential mortgages.
- Geographic Concentration: The company's operations are predominantly concentrated in Cook County, Illinois, and its adjacent communities. This geographic focus exposes Hoyne Bancorp to local economic downturns, adverse changes in the regional real estate market, and other economic or regulatory factors specific to the Chicago metropolitan area, which could disproportionately impact its loan portfolio quality, deposit base, and overall financial performance.
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Expected drivers of future revenue growth for Hoyne Bancorp (HYNE) over the next 2-3 years include:
- Expansion of Commercial Lending: Hoyne Bancorp is strategically focused on growing its commercial real estate (including commercial construction) and commercial and industrial loan portfolios, a division that began in 2023 with the hiring of Walter F. Healy and his experienced team. This initiative significantly diversifies the company's lending activities beyond traditional residential and home equity loans, and as of June 30, 2025, commercial loans already constituted 48.8% of the total loan portfolio, indicating a strong growth trajectory.
- Leveraging the Oak Park Loan Production Office: The establishment of a new loan production office in Oak Park, Illinois, in 2023 serves as a dedicated channel to originate additional loans, particularly supporting the expansion of the commercial lending segment. This new office is expected to contribute to increased loan volume and interest income.
- Organic Growth and Deepening Customer Relationships in Core Market: With a 138-year history of serving Cook County, Illinois, and surrounding communities, Hoyne Bancorp plans to continue leveraging its deep community ties and established customer relationships. This focus on its existing market aims to attract new customers and expand services to current ones, fostering organic growth.
- Increased Deposit Generation from Retail and Commercial Customers: The company actively attracts retail deposits from the general public and deposits from commercial customers. Growing this deposit base is crucial as it provides a stable and expanding source of funds for loan origination, directly supporting the growth of its lending portfolio and overall revenue.
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```htmlShare Issuance
- Hoyne Bancorp, Inc. is making an offering of common stock in connection with the conversion of Hoyne Savings, MHC from a mutual holding company to a stock holding company structure.
Outbound Investments
- In 2020, Hoyne Savings Bank completed a merger with Loomis Federal Savings and Loan Association, adding $64 million in assets.
Capital Expenditures
- Hoyne Savings Bank established a loan production office in Oak Park, Illinois in 2023.
Trade Ideas
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 41.24 |
| Mkt Cap | 4.7 |
| Rev LTM | 932 |
| Op Inc LTM | - |
| FCF LTM | 282 |
| FCF 3Y Avg | 301 |
| CFO LTM | 319 |
| CFO 3Y Avg | 346 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.4% |
| Rev Chg 3Y Avg | 7.5% |
| Rev Chg Q | 12.7% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 28.7% |
| CFO/Rev 3Y Avg | 33.1% |
| FCF/Rev LTM | 28.1% |
| FCF/Rev 3Y Avg | 29.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.7 |
| P/S | 2.8 |
| P/EBIT | - |
| P/E | 10.6 |
| P/CFO | 9.8 |
| Total Yield | 10.7% |
| Dividend Yield | 1.5% |
| FCF Yield 3Y Avg | 10.2% |
| D/E | 0.2 |
| Net D/E | -0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.7% |
| 3M Rtn | -6.3% |
| 6M Rtn | 0.8% |
| 12M Rtn | 23.4% |
| 3Y Rtn | 59.0% |
| 1M Excs Rtn | -4.2% |
| 3M Excs Rtn | 1.5% |
| 6M Excs Rtn | 4.7% |
| 12M Excs Rtn | 8.2% |
| 3Y Excs Rtn | 3.2% |
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Manfre, Thomas S | EVP AND CFO | the Thomas S. Manfre III Trust U/A DTD 4/23/2018 | Buy | 12052025 | 10.00 | 1,975 | 19,750 | 19,750 | Form |
| 2 | Manfre, Thomas S | EVP AND CFO | the Thomas J. Manfre IV Special Needs Trust U/A DTD 4/23/2018 | Buy | 12052025 | 13.75 | 4,280 | 58,850 | 86,006 | Form |
| 3 | Manfre, Thomas S | EVP AND CFO | the Grace C. Manfre Special Needs Trust U/A DTD 4/23/2018 | Buy | 12052025 | 13.75 | 4,233 | 58,204 | 144,210 | Form |
| 4 | Manfre, Thomas S | EVP AND CFO | the Thomas S. Manfre III Trust U/A DTD 4/23/2018 | Buy | 12052025 | 13.94 | 7,729 | 107,742 | 253,945 | Form |
| 5 | Healy, Walter F | PRESIDENT, CEO AND DIRECTOR | Spouse | Buy | 12052025 | 10.00 | 23,925 | 239,250 | 239,250 | Form |
External Quote Links
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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