HOPKINSVILLE, Ky. (October 29, 2008) – HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”) today reported results for the third quarter and the nine-month period ended September 30, 2008.  Net income for the three month period ended September 30, 2008, was $1,149,000, or $0.32 per share (basic and diluted), compared to $1,025,000, or $0.31 per share (basic and diluted), for the three month period ended September 30, 2007.  Net income for the nine month period  ended September 30, 2008, was $3,902,000, or $1.09 per share basic and $1.08 per share diluted, compared with $3,155,000, or $0.87 per share  (basic and diluted), for the nine month period ended September 30, 2007.

Commenting on the Company’s performance, John E. Peck, president and chief executive officer, said, “We are pleased that, given the difficulties in the economy and credit markets, the Company’s financial performance remains impressive.  For the first nine months in 2008, the Company’s loan portfolio grew by more than $59.9 million.  The Company’s net income is more than $700,000 greater than the same period last year despite increasing its provision for loan loss expense by more than $900,000 over the same period.  At September 30, 2008, Company’s allowance for loan loss balance is now 0.92% of loans as compared to 0.83% at December 31, 2007.  The Company has no equity ownership in either Freddie Mac or Fannie Mac and has not participated in any subprime lending programs.” 

Mr. Peck continued, “At September 30, 2008, the Company’s non-performing asset ratio increased to 1.04% of total assets.  The increase in this ratio is largely the result of one credit relationship that is currently in bankruptcy.  The Company believes that its collateral position is adequate and the any losses related to this relationship are relatively minor and are fully reserved for in the Company’s allowance for loan loss account.  The Company will continue to strengthen its capital reserves to prepare for future growth.”

HopFed Bancorp, Inc. is a 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, Hopkinsville, Kentucky, Pleasant View, Tennessee and Dickson, 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.

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)

	Selected Financial Indicators as of:
	September 30, 2008	December 31, 2007
Total assets Loans receivable, gross Securities available for sale Securities held to maturity Required investment in FHLB stock, at cost Allowance for loan loss Total deposits Total FHLB borrowings Repurchase agreements Stockholders’ equity Book value per share, gross Tangible book value per share Allowance for loan loss / Gross loans Non performing assets / Total asset Non performing loans / Total loans Tier 1 Capital - Bank Total Risk Basked Capital - Bank Year to date tax equivalent net yield   on interest earning assets	$   843,435 627,234 144,171 499        4,050 5,749 646,705 91,412 32,558 56,453 $15.75 $13.79 0.92% 1.04%         1.34% 7.25% 10.80% 3.15%	$   808,352 581,094 142,310 14,095 3,836 4,842 598,753 101,882 37,199 55,803 $15.54 $13.40 0.83% 0.12% 0.10% 6.97% 10.47% 2.98%

 HopFed Bancorp, Inc.
Results of Operations