Home Bancorp Announces 2008 Fourth Quarter and Annual Results

LAFAYETTE, La., Jan. 29 /PRNewswire-FirstCall/ -- Home Bancorp, Inc. (Nasdaq: HBCP) (the "Company"), the holding company for Home Bank (www.home24bank.com), a Federally chartered savings bank headquartered in Lafayette, Louisiana (the "Bank"), announced a net loss of $799,000 for the fourth quarter of 2008, a decrease of $1.2 million, or 295%, compared to the fourth quarter of 2007. The fourth quarter of 2008 was negatively impacted by a non-cash charge of $2.8 million for the other-than-temporary impairment ("OTTI") of investment securities and a charge of $867,000 related to a shortfall in cash invested at other ATM locations. Excluding the impact of the OTTI and ATM charges, net income for the fourth quarter was $1.6 million, an increase of $1.2 million, or 302%, compared to the fourth quarter of 2007. Net income for 2008 was $2.7 million, a decrease of $607,000, or 18%, compared to 2007. Excluding the impact of the OTTI and ATM charges, net income for 2008 was $5.2 million, an increase of $1.8 million, or 55%, compared to 2007. The Company did not apply for or accept any funds from the U.S. Treasury's bank capital purchase program.

John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, stated, "Despite the reported net loss for the quarter, the Company's core performance during 2008 was exceptional as we continued to gain quality loan and core deposit relationships. We are very excited about the opening of two Home Bank branches in Baton Rouge during the fourth quarter. We are confident our approach to retail and small business banking will help us to quickly gain traction in this market."

"While many banks are contracting, Home Bank is gaining new clients daily as customers realize the importance of banking locally", added Mr. Bordelon. "Our bankers are focused on ensuring Home Bank's momentum continues to build during this challenging time for many in our industry."

Mutual to Stock Conversion

The Company completed its initial public stock offering ("IPO") on October 2, 2008, and began trading on the Nasdaq Global Market on October 3, 2008. The Company issued 8,926,875 shares of its common stock for an aggregate of $89,268,750 in total offering proceeds.

Baton Rouge Expansion

Home Bank opened two full-service branches in Baton Rouge during the fourth quarter of 2008. The Bank also operates a loan production office in Baton Rouge. The Bank has also purchased land on Corporate Boulevard in Baton Rouge and intends to open a full-service branch at this location during the fourth quarter of 2009.

Loans and Credit Quality

Loans totaled $335.6 million at December 31, 2008, an increase of $27.0 million, or 9%, from December 31, 2007, and an increase of $18.0 million, or 6%, from September 30, 2008. The majority of the Bank's 2008 loan growth relates to commercial real estate loans. In contrast to several areas in the country, south central Louisiana real estate values have performed well due to the strong level of economic activity in our markets.

The Company recorded a $298,000 provision for loan losses during the fourth quarter of 2008, compared to $277,000 during the fourth quarter of 2007 and $93,000 in the third quarter of 2008. The increased provision was primarily the result of loan growth. Net loan charge-offs for 2008 were $167,000, or 0.05%, of average loans outstanding, compared to $114,000, or 0.04%, of average loans in 2007. Non-performing assets totaled $1.5 million, or 0.28%, of total assets at December 31, 2008, compared to $1.3 million and $638,000 at December 31, 2007 and September 30, 2008, respectively.

As of December 31, 2008, the allowance for loan losses as a percentage of total loans was 0.78%, compared to 0.75% at December 31, 2007 and September 30, 2008.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $118.3 million at December 31, 2008, an increase of $56.6 million, or 92%, from December 31, 2007, and an increase of $38.2 million, or 48%, from September 30, 2008. The increases relate primarily to the investment of IPO proceeds. At December 31, 2008, the Company had an unrealized loss position on its investment securities portfolio of $8.0 million, compared to an unrealized gain of $66,000 at December 31, 2007. The unrealized loss relates to the Company's non-agency mortgage-backed securities holdings, which amounted to $51.1 million, or 10% of total assets, at December 31, 2008. The increase in the unrealized loss position of these securities reflects, among other factors, the impact the illiquid market and distressed sales have had on the market value of non-agency mortgage-backed securities.

Due to the deteriorating credit performance of the mortgage loans underlying three of the Company's non-agency mortgage-backed securities, the Company recorded an OTTI charge of $2.8 million during the fourth quarter of 2008. If the performance of these impaired securities is better than current estimates, which reflect significant illiquidity discounts, the Company may have the opportunity to earn back a substantial portion of the write-downs over the remaining lives of the securities. To date, the Company has received all principal and interest payments due on these three securities in accordance with their terms. Based on management's review of the remaining investment portfolio, no other declines in the market value of the Company's investment securities are deemed to be other than temporary at December 31, 2008.

The following table summarizes the Company's non-agency mortgage-backed securities portfolio as of December 31, 2008.


                            # of   Gross Carrying  Unrealized   S&P
    Collateral            Securities    Value      Gain/(Loss) Rating

    Prime                      17   $40,916,000  $(7,488,000)     AAA
    Prime                       1     1,183,000     (530,000)     AA
    Prime                       1     2,401,000     (359,000)      A
    Prime                       1     2,397,000      (18,000)  Not rated (1)
    Prime                       1       616,000            -(2)    B
    Alt-A                       1     1,657,000       42,000      AAA
    Alt-A                       1       886,000            -(3)    B
    Alt-A                       1     1,052,000            -(4) Not rated (4)

    Total non-agency
     mortgage-backed
     securities                24   $51,108,000  $(8,353,000)

    (1)  Rated "Aaa" by Moody's.
    (2)  The Company recorded an OTTI charge of $706,000 on this security
         during the fourth quarter of 2008.
    (3)  The Company recorded an OTTI charge of $762,000 on this security
         during the fourth quarter of 2008.
    (4)  The Company recorded an OTTI charge of $1.4 million on this
         security during the fourth quarter of 2008.  This security is
         rated "A3" by Moody's and "CCC" by Fitch.


The Company holds no Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac) preferred stock, equity securities, corporate bonds, trust preferred securities, hedge fund investments, collateralized debt obligations or structured investment vehicles.

Cash Invested at Other ATM Locations

Over the past several years, Home Bank has entered into contracts with various counterparties to provide cash for ATMs at approximately 1,200 locations throughout the United States. In September 2008, one of the ATM counterparties informed the Bank that it was discontinuing operations. To date, the cash returned to the Bank by the counterparty is $867,000 less than the balance due to the Bank. Given the uncertainty of collecting the balance due, the Company assumed no recovery and recorded a charge of $867,000 during the fourth quarter of 2008.

The Company is currently pursuing collection options, including recovery under the counterparty's insurance policy for which Home Bank is a named insured. The Company has also put its insurance company on notice that the Company will file a claim under its fidelity bond.

Deposits

Deposits totaled $354.1 million at December 31, 2008, an increase of $609,000 from December 31, 2007, and an increase of $669,000 from September 30, 2008. While total deposits did not increase substantially during the year, core deposits (i.e., checking, savings and money market accounts) increased $20.7 million, or 12%, during 2008. The Company's continued focus is on growing its core deposit base.

Accrued interest payable and other liabilities totaled $2.9 million at December 31, 2008, a decrease of $79.7 million from September 30, 2008. The high balance at September 30 resulted from cash receipts for subscriptions to purchase shares of the Company's common stock in its IPO. The net proceeds of the IPO are reflected in the Company's shareholders' equity at December 31, 2008.

Net Interest Income

Net interest income for the fourth quarter of 2008 totaled $5.6 million, an increase of $1.6 million, or 39%, compared to the fourth quarter of 2007. Net interest income for 2008 totaled $18.7 million, an increase of $3.2 million, or 20%, compared to 2007. The Company's net interest margin was 4.52% for the fourth quarter of 2008, 42 basis points higher than the same quarter a year ago and 23 basis points higher than the third quarter of 2008. The Federal Reserve rate cuts and corresponding cuts in other market rates during the fourth quarter of 2008 impacted the yield earned on average assets and rate paid on interest-bearing liabilities.

Average interest-earning assets totaled $494.9 million for the quarter ended December 31, 2008, which represents increases of 26% and 12% compared to the quarters ended December 31, 2007 and September 30, 2008, respectively. The average yield on interest-earning assets for the quarter ended December 31, 2008 was 5.92%, which represents decreases of 76 and 32 basis points compared to the quarters ended December 31, 2007 and September 30, 2008, respectively.

Average interest-bearing liabilities totaled $308.0 million for the quarter ended December 31, 2008, an increase of 2% and a decrease of 8% compared to the quarters ended December 31, 2007 and September 30, 2008, respectively. The average rate paid on interest-bearing liabilities for the quarter ended December 31, 2008 was 2.25%, which represents decreases of 110 and 32 basis points compared to the quarters ended December 31, 2007 and September 30, 2008, respectively.

Noninterest Income

Reported noninterest income (loss) under generally accepted accounting principles ("GAAP") for the fourth quarter of 2008 was $(2.0) million, a decrease of $2.7 million, or 376%, compared to the same quarter a year ago. Excluding the impact of OTTI charges of $2.8 million, noninterest income for the fourth quarter of 2008 was $879,000, an increase of $172,000, or 24%, compared to the same quarter a year ago. Reported GAAP noninterest income for 2008 totaled $586,000, a decrease of $2.1 million, or 78%, compared to 2007. Excluding the impact of OTTI charges, noninterest income for 2008 totaled $3.4 million, an increase of $739,000, or 28%, compared to 2007. The primary reasons for the non-GAAP increases in noninterest income compared to the same periods last year were higher levels of service fees and charges and income from bank-owned life insurance policies purchased during the fourth quarter of 2007.

Noninterest Expense

Reported GAAP noninterest expense for the fourth quarter of 2008 was $4.8 million, an increase of $618,000, or 15%, compared to the same quarter a year ago. Excluding the impact of ATM charges of $867,000, noninterest expense for the fourth quarter of 2008 was $3.9 million, a decrease of $249,000, or 6%, compared to the same quarter a year ago. Reported GAAP noninterest expense for 2008 totaled $14.9 million, an increase of $1.9 million, or 14%, compared to 2007. Excluding the impact of ATM charges, noninterest expense for 2008 totaled $14.1 million, an increase of $989,000, or 8%, compared to 2007. Compensation and benefits expense in the fourth quarter of 2007 included $422,000 related to salary continuation plans. The primary reasons for the non-GAAP increase in noninterest expense compared to 2007 were compensation and benefits expense and occupancy expense increases related to the Company's expansion into Baton Rouge.

This news release contains financial information determined by methods other than in accordance with generally accepted accounting principles ("GAAP"). The Company's management uses this non-GAAP financial information in its analysis of the Company's performance. In this news release, information is included which excludes the impact of charges for the other-than-temporary impairment of investment securities and a shortage in cash invested at other ATM locations. Management believes the presentation of this non-GAAP financial information provides useful information that is essential to a proper understanding of the Company's core operating results. This non-GAAP financial information should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial information presented by other companies.

This news release contains certain forwardlooking statements. Forwardlooking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may."

Forwardlooking statements, by their nature, are subject to risks and uncertainties. A number of factors many of which are beyond our control could cause actual conditions, events or results to differ significantly from those described in the forwardlooking statements. Home Bancorp's prospectus, dated August 12, 2008, describes some of these factors, including risk elements in the loan portfolio, the level of the allowance for losses on loans, risks of our growth strategy, geographic concentration of our business, dependence on our management team, risks of market rates of interest and of regulation on our business and risks of competition. Forwardlooking statements speak only as of the date they are made. We do not undertake to update forwardlooking statements to reflect circumstances or events that occur after the date the forwardlooking statements are made or to reflect the occurrence of unanticipated events.



                       HOME BANCORP, INC. AND SUBSIDIARY
                  CONDENSED STATEMENTS OF FINANCIAL CONDITION

                      December 31,   December 31,     %      September 30,
                          2008          2007        Change       2008
                          ----          ----        ------       ----
    Assets
    Cash and cash
     equivalents       $20,150,248   $11,746,082      72%     $60,389,012
    Interest-
     bearing
     deposits in
     banks               1,685,000     3,267,000     (48)         792,000
    Cash invested at
     other ATM
     locations          24,243,780    17,142,751      41       20,697,177
    Securities
     available for
     sale, at fair
     value             114,235,261    56,995,287     100       76,301,887
    Securities
     held to
     maturity            4,089,466     4,693,288     (13)       3,870,154
    Mortgage loans
     held for sale         996,600     1,174,650     (15)         281,200
    Loans, net of
     unearned income   335,568,071   308,582,151       9      317,564,165
    Allowance for
     loan losses        (2,605,889)   (2,314,132)     13       (2,390,573)
                        ----------    ----------      --       ----------
          Loans, net   332,962,182   306,268,019       9      315,173,592
    Office properties
     and equipment,
     net                15,325,997    11,687,580      31       13,489,704
    Cash surrender
     value of bank-
     owned life
     insurance           5,268,817     5,006,615       5        5,201,472
    Accrued interest
     receivable and
     other assets        9,439,637     4,369,573     116        6,848,881
                         ---------     ---------     ---        ---------
    Total Assets      $528,396,988  $422,350,845      25%    $503,045,079
                      ============  ============      ==     ============


    Liabilities
    Deposits          $354,145,105  $353,536,399       -%    $353,476,182
    Federal Home Loan
     Bank advances      44,420,795    16,883,436     163       15,843,422
    Accrued
     interest
     payable and
     other
     liabilities         2,868,362     2,547,890      13       82,537,048
                         ---------     ---------      --       ----------
    Total Liabilities  401,434,262   372,967,725       8      451,856,652
                       -----------   -----------       -      -----------

    Total
     Shareholders'
     Equity            126,962,726    49,383,120     157       51,188,427
                       -----------    ----------     ---       ----------
    Total Liabilities
     and
     Shareholders'
     Equity           $528,396,988  $422,350,845      25%    $503,045,079
                      ============  ============      ==     ============



                         HOME BANCORP, INC. AND SUBSIDIARY
                          CONDENSED STATEMENTS OF INCOME

                                         For The Three Months Ended
                                                December 31,
                                                ------------           %
                                              2008         2007      Change
                                              ----         ----      ------
    Interest Income
        Loans, including fees              $5,534,213   $5,464,873       1%
        Investment securities               1,478,963      663,962     123
        Other investments and deposits        317,715      438,371     (28)
                                              -------      -------     ---
    Total interest income                   7,330,891    6,567,206      12
                                            ---------    ---------      --

    Interest Expense
        Deposits                            1,575,505    2,461,106     (36)
        Federal Home Loan Bank advances       160,495       76,828     109
                                              -------       ------     ---
    Total interest expense                  1,736,000    2,537,934     (32)
                                            ---------    ---------     ---
    Net interest income                     5,594,891    4,029,272      39
    Provision for loan losses                 297,775      277,486       7
                                              -------      -------       -
    Net interest income after provision
     for loan losses                        5,297,116    3,751,786      41
                                            ---------    ---------      --

    Noninterest Income
        Service fees and charges              612,087      488,039      25
        Gain on sale of loans, net             61,903       93,423     (34)
        Net loss on sale of real
         estate owned                         (12,147)      (4,140)    193
        Other-than-temporary impairment
         of securities                     (2,832,920)           -       -
        Other income                          217,311      129,821      67
                                              -------      -------      --
    Total noninterest income               (1,953,766)     707,143    (376)
                                           ----------      -------    ----

    Noninterest Expense
        Compensation and benefits           2,359,437    2,449,254      (4)
        Occupancy                             221,254      178,946      24
        Marketing and advertising             135,112      180,899     (25)
        Data processing and communication     207,707      230,533     (10)
        Depreciation                          207,554      261,075     (21)
        Loss on ATM cash                      867,389            -       -
        Other expenses                        783,083      862,914      (9)
                                              -------      -------      --
    Total noninterest expense               4,781,536    4,163,621      15
                                            ---------    ---------      --
    Income (loss) before income tax
     expense (benefit)                     (1,438,186)     295,308    (587)
    Income tax expense (benefit)             (639,089)    (113,658)    462
                                             --------     --------     ---
    Net Income (Loss)                       $(799,097)    $408,966    (295)%
                                            =========     ========    ====



                                             For The Year Ended
                                                December 31,
                                                ------------            %
                                              2008         2007      Change
                                              ----         ----      ------
    Interest Income
        Loans, including fees             $21,790,163  $20,809,447       5%
        Investment securities               4,283,960    2,667,979      61
        Other investments and deposits      1,354,627    1,947,548     (30)
                                            ---------    ---------     ---
    Total interest income                  27,428,750   25,424,974       8
                                           ----------   ----------       -

    Interest Expense
        Deposits                            7,903,313    9,626,217     (18)
        Federal Home Loan Bank advances       843,937      282,099     199
                                              -------      -------     ---
    Total interest expense                  8,747,250    9,908,316     (12)
                                            ---------    ---------     ---
    Net interest income                    18,681,500   15,516,658      20
    Provision for loan losses                 459,212      419,872       9
                                              -------      -------       -
    Net interest income after provision
     for loan losses                       18,222,288   15,096,786      21
                                           ----------   ----------      --

    Noninterest Income
        Service fees and charges            2,326,143    1,881,153      24
        Gain on sale of loans, net            254,456      311,744     (18)
        Net loss on sale of real
         estate owned                         (15,635)      (4,140)    278
        Other-than-temporary impairment
         of securities                     (2,832,920)           -       -
        Other income                          853,865      491,214      74
                                              -------      -------      --
    Total noninterest income                  585,909    2,679,971     (78)
                                              -------    ---------     ---

    Noninterest Expense
        Compensation and benefits           8,787,310    7,994,357      10
        Occupancy                             791,043      693,250      14
        Marketing and advertising             475,380      515,228      (8)
        Data processing and communication     872,316      855,236       2
        Depreciation                          813,916      867,603      (6)
        Loss on ATM cash                      867,389            -       -
        Other expenses                      2,315,399    2,141,019       8
                                            ---------    ---------       -
    Total noninterest expense              14,922,753   13,066,693      14
                                           ----------   ----------      --
    Income (loss) before income tax
     expense (benefit)                      3,885,444    4,710,064     (18)
    Income tax expense (benefit)            1,169,852    1,387,359     (16)
                                            ---------    ---------     ---
    Net Income (Loss)                      $2,715,592   $3,322,705     (18)%
                                           ==========   ==========     ===



    HOME BANCORP, INC. AND SUBSIDIARY
    SUMMARY FINANCIAL INFORMATION


                           For The Three              For The Three
                           Months Ended               Months Ended
                           December 31,               September 30,
                           ------------           %   -------------   %
                         2008        2007      Change     2008     Change
                         ----        ----      ------     ----     ------
    EARNINGS DATA
    Interest Income
    Loans,
     including fees   $5,534,213  $5,464,873       1%  $5,455,504      1%
    Investment
     securities        1,478,963     663,962     123    1,054,335     40
    Other
     investments
     and deposits        317,715     438,371     (28)     387,095    (18)
                         -------     -------     ---      -------    ---
    Total interest
     income            7,330,891   6,567,206      12    6,896,934      6
                       ---------   ---------      --    ---------      -

    Interest
     Expense
    Deposits           1,575,505   2,461,106     (36)%  1,875,504    (16)%
    Federal Home
     Loan Bank
     advances            160,495      76,828     109      280,141    (43)
                         -------      ------     ---      -------    ---
    Total interest
     expense           1,736,000   2,537,934     (32)   2,155,645    (19)
                       ---------   ---------     ---    ---------    ---
    Net interest
     income            5,594,891   4,029,272      39    4,741,289     18
    Provision for
     loan losses         297,775     277,486       7       92,500    222
                         -------     -------       -       ------    ---
    Net interest
     income after
     provision
     for loan
     losses            5,297,116   3,751,786      41    4,648,789     14
                       ---------   ---------      --    ---------     --

    Noninterest
     Income
    Service
     fees and
     charges             612,087     488,039      25%     592,717      3%
    Gain on
     sale of
     loans, net           61,903      93,423     (34)      41,555     49
    Net loss on
     sale of
     real
     estate
     owned               (12,147)     (4,140)    193            -      -
    Other-than-
     temporary
     impairment of
     securities       (2,832,920)          -       -            -      -
    Other income         217,311     129,821      67      224,248     (3)
                         -------     -------      --      -------     --
    Total
     noninterest
     income           (1,953,766)    707,143    (376)     858,520   (328)
                      ----------     -------    ----      -------   ----

    Noninterest
     Expense
    Compensation
     and benefits      2,359,437   2,449,254      (4)%  2,191,874      8%
    Occupancy            221,254     178,946      24      194,205     14
    Marketing and
     advertising         135,112     180,899     (25)      82,241     64
    Data processing
     and
     communication       207,707     230,533     (10)     197,078      5
    Depreciation         207,554     261,075     (21)     203,282      2
    Loss on ATM
     cash                867,389           -       -            -      -
    Other expenses       783,083     862,914      (9)     530,930     47
                         -------     -------      --      -------     --
    Total
     noninterest
     expense           4,781,536   4,163,621      15    3,399,610     41
                       ---------   ---------      --    ---------     --
    Income (Loss)
     before income
     tax expense
     (benefit)        (1,438,186)    295,308    (587)   2,107,699   (168)
    Income tax
     expense
     (benefit)          (639,089)   (113,658)    462      715,524   (189)
                        --------    --------     ---      -------   ----
    Net Income
     (Loss)            $(799,097)   $408,966    (295)% $1,392,175   (157)%
                       =========    ========    ====   ==========   ====




                            For The Three              For The Three
                             Months Ended              Months Ended
                             December 31,              September 30,
                             ------------         %                   %
                           2008         2007    Change     2008     Change
                           ----         ----    ------     ----     ------

    AVERAGE BALANCE
     SHEET DATA (dollars
     in thousands)
    Total assets         $503,947   $405,972      24%    $464,560      8%
    Total earning
     assets               494,944    393,134      26      442,051     12
    Loans                 325,520    300,882       8      315,431      3
    Interest bearing
     deposits             284,154    295,861      (4)     296,485     (4)
    Total deposits        367,935    349,296       5      359,210      2
    Total shareholders'
     equity               106,814     46,576     129       50,052    113

    SELECTED RATIOS
    Return on average
     assets                 (0.63)%     0.40%   (257)%       1.20   (153)%
    Return on average
     total equity           (2.99)      3.51    (185)       11.12   (127)
    Efficiency ratio       131.32      87.91      49        60.71    116
    Average equity to
     average assets         21.20      11.47      85        10.77     97
    Core capital ratio      24.65      11.86     108        10.57    133
    Net interest margin      4.52       4.10      10         4.29      5




                        December 31,  December 31,  %      September 30,
                            2008         2007    Change        2008
                            ----         ----    ------        ----
    CREDIT QUALITY
     (dollars in
     thousands)
    Nonaccrual loans       $1,427     $1,295      10%        $552    159%
    Accruing loans
     past due 90 days
     and over                   -          -       -            -      -
                           ------     ------  ------         ----
    Total nonperforming
     loans                  1,427      1,295      10          552    159
    Other real estate
     owned                     37          -       -           86    (58)
                           ------      -----  ------        -----
    Total
     nonperforming
     assets                $1,464     $1,295      13         $638    129
                           ======     ======                 ====

    Nonperforming
     assets to total
     assets                  0.28%      0.31% %  (10)%       0.13% % 118%
    Nonperforming
     loans to total
     assets                  0.27       0.31     (12)        0.11    146
    Nonperforming
     loans to total
     loans                   0.43       0.42       1         0.17    150
    Allowance for
     loan losses to
     nonperforming
     assets                 178.0      178.7       -        374.7    (52)
    Allowance for
     loan losses to
     nonperforming
     loans                  182.6      178.7       2        433.1    (58)
    Allowance for
     loan losses to
     total loans             0.78       0.75       4         0.75      3

    Year-to-date loan
     charge-offs             $212       $125      69%        $123     72%
    Year-to-date loan
     recoveries                45         11     315           38     19
    Year-to-date net
     loan charge-offs         167        114      48           85     97
    Annualized YTD net
     loan charge-offs
     to total loans          0.05%      0.04%     36%        0.04%    39%



    NON-GAAP PRO FORMA NET INCOME   4Q 2008    YTD 2008
                                    -------    --------
    Reported net income (loss)     $(799,097) $2,715,592
    Add: OTTI charge (after tax)   1,869,700   1,869,700
    Add: ATM shortage
     charge (after tax)              572,200     572,200
                                     -------     -------
    Non-GAAP net income           $1,642,803  $5,157,492
                                  ==========  ==========



SOURCE Home Bancorp, Inc.



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