2014

Home Bancorp Announces 2011 Fourth Quarter and Annual Results

LAFAYETTE, La., Jan. 26, 2012 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: HBCP) (the "Company"), the parent company for Home Bank (www.home24bank.com), a Federally chartered savings bank headquartered in Lafayette, Louisiana (the "Bank"), announced net income of $2.1 million for the fourth quarter of 2011, an increase of $1.2 million, or 131%, compared to the third quarter of 2011 and an increase of $669,000, or 46%, compared to the fourth quarter of 2010.  The third and fourth quarters of 2011 include pre-tax expenses related to the acquisition of GS Financial Corp. of $1.4 million and $604,000, respectively.  Excluding merger-related expenses, net income for the fourth quarter of 2011 was $2.5 million, an increase of 34% and 73% compared to the third quarter of 2011 and the fourth quarter of 2010, respectively.  

Diluted earnings per share were $0.30 for the fourth quarter of 2011, compared to $0.13 for the third quarter of 2011 and $0.20 for the fourth quarter of 2010.  Excluding merger-related expenses, diluted earnings per share were $0.36 for the fourth quarter of 2011, increases of 33% and 71% compared to the third quarter of 2011 and the fourth quarter of 2010, respectively.

Net income for the year ended December 31, 2011 was $5.1 million, an increase of $432,000, or 9%, compared to 2010.  Diluted earnings per share for 2011 were $0.71, an increase of 15% compared to $0.62 in 2010.  

"We are pleased with the direction of our financial results," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, "and are even more excited about the development of our team.  We have assembled a team of bankers who are committed to expanding customer relationships through sound financial advice and products.  We seek to differentiate ourselves daily by offering flexible and timely solutions that better the lives of our customers."  

"Our prospects for 2012 are strong due to the economic health of our markets and our reputation for doing what's best for our customers," added Mr. Bordelon.  "We are focused on continually enhancing shareholder value through improved earnings."

Acquisition of GS Financial Corp.

As previously reported, the Company now serves the Greater New Orleans area through its acquisition of GS Financial Corp., the former holding company of Guaranty Savings Bank ("GSB") of Metairie, Louisiana, on July 15, 2011.  As a result of the transaction, the Company acquired $256.8 million of assets, including loans of $182.5 million, and $230.7 million in deposits and other liabilities.   Shareholders of GS Financial Corp. received $21.00 per share in cash, resulting in a total purchase price of $26.4 million.  

Loans and Credit Quality

Total loans were $666.4 million at December 31, 2011, an increase of $12.7 million, or 2%, from September 30, 2011, and an increase of $226.5 million, or 51%, from December 31, 2010.  Fourth quarter 2011 loan growth was in construction and land loans (up $8.6 million), commercial real estate loans (up $5.0 million) and multi-family residential loans (up $4.8 million).  These increases were offset by decreases in one- to four- family first mortgage loans (down $5.2 million) and commercial and industrial loans (down $2.1 million).  The increase in loans during 2011 was primarily the result of the loans acquired in the acquisition of GSB, which totaled $182.5 million at the acquisition date.

In connection with the Company's acquisition of certain assets and liabilities of Statewide Bank from the Federal Deposit Insurance Corporation ("FDIC") in March 2010, Home Bank entered into loss sharing agreements with the FDIC which cover the loan portfolio acquired from Statewide Bank ("Covered Loans") and other repossessed assets (collectively referred to as "Covered Assets").  Under the terms of the loss sharing agreements, the FDIC will absorb 80% of the first $41 million of losses incurred on Covered Assets and 95% of losses on Covered Assets exceeding $41 million.  Covered loans totaled $61.1 million at December 31, 2011, down $6.2 million and down $19.4 million compared to September 30, 2011 and December 31, 2010, respectively.  

The following table sets forth the composition of the Company's loan portfolio as of the dates indicated.  







December 31,

December 31,

Increase/(Decrease)

(dollars in thousands)

2011

2010

Amount

Percent

Real estate loans:





    One- to four-family first mortgage

$182,817

$ 122,614

$ 60,203

49%

    Home equity loans and lines

43,665

30,915

12,750

41

    Commercial real estate

226,999

150,824

76,175

51

    Construction and land

78,994

57,538

21,456

37

    Multi-family residential

20,125

5,718

14,407

252

       Total real estate loans

552,600

367,609

184,991

50

Other loans:





    Commercial and industrial

82,980

48,410

34,570

71

    Consumer

30,791

23,892

6,899

29

       Total other loans

113,771

72,302

41,469

57

       Total loans

$666,371

$ 439,911

$226,460

51%




Nonperforming assets ("NPAs") totaled $30.4 million at December 31, 2011, an increase of $2.4 million compared to September 30, 2011 and an increase of $7.6 million compared to December 31, 2010.  NPAs include $16.6 million in Covered Assets and $9.9 million acquired from GSB.  Excluding Covered Assets, the ratio of NPAs to total assets was 1.55% at December 31, 2011, compared to 1.32% at September 30, 2011 and 0.19% at December 31, 2010.  

The Company recorded net loan recoveries of $7,000 during the fourth quarter of 2011, compared to net loan charge-offs of $53,000 in the third quarter of 2011 and $151,000 in the fourth quarter of 2010.  

The Company's loan loss provision for the fourth quarter of 2011 was $568,000, compared to $526,000 for the third quarter of 2011 and $147,000 for the fourth quarter of 2010.  The increases compared to the fourth quarter of 2010 are primarily attributable to loan growth and modest downgrades of certain loans in the Company's organic (i.e., not acquired) loan portfolio.  

At December 31, 2011, the Company's ratio of allowance for loan losses to total loans was 0.77%, compared to 0.69% and 0.89% at September 30, 2011 and December 31, 2010, respectively.  The increase in the ratio of allowance for loan losses to total loans during the fourth quarter was due to loan growth and modest downgrades of certain loans.  The decrease in the fourth quarter 2011 ratio of allowance for loan losses to total loans compared to fourth quarter 2010 relates primarily to the acquisition of the GSB loans.  Under accounting rules generally accepted in the United States, an acquirer may not carry over the acquiree's allowance for loan losses.  Instead, the acquirer must fair value the cash flows expected to be derived from the acquired loan portfolio.  Management has included its credit loss expectations in the acquired loan portfolio's cash flow assumptions used to derive the portfolio's fair value.  Hence, management believes that expected credit losses in the acquired loan portfolio were appropriately addressed in the fair value adjustments recorded on the acquired loan portfolio.  Excluding acquired loans of GSB and Statewide Bank, the ratio of allowance for loan losses to total organic loans was 1.14% at December 31, 2011.  Subsequent to acquisitions, ongoing evaluations of the acquired loan portfolio may result in additional provisions for the acquired loans.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $158.7 million at December 31, 2011, a decrease of $10.7 million, or 6%, from September 30, 2011, and an increase of $31.5 million, or 25%, from December 31, 2010.  The decrease in investment securities during the fourth quarter of 2011 resulted primarily from paydowns, calls and maturities during the period.  The increase compared to December 31, 2010 resulted primarily from the addition of $46.5 million in investment securities acquired from GSB.  At December 31, 2011, the Company had a net unrealized gain position on its investment securities portfolio of $2.6 million, compared to net unrealized gains of $2.5 million and $1.0 million as of September 30, 2011 and December 31, 2010, respectively.

The Company maintains a portfolio of non-agency mortgage-backed securities, which had an amortized cost of $14.8 million at December 31, 2011.  Each of these securities is rated investment grade by Standard & Poor's and/or Moody's.      

Deposits

Deposits totaled $730.7 million at December 31, 2011, an increase of $11.3 million, or 2%, from September 30, 2011, and $177.5 million, or 32%, from December 31, 2010.  The acquisition of GSB added $193.5 million in deposits.  The Company's organic core deposits (i.e., checking, savings and money market accounts) increased for the tenth consecutive quarter, posting growth of $12.7 million, or 3.6%, during the fourth quarter of 2011.  

The following table sets forth the composition of the Company's deposits at the dates indicated.






December 31,

December 31,

Increase / (Decrease)

(dollars in thousands)

2011

2010

Amount

Percent






Demand deposit

$  127,828

$  100,579

$   27,249

27%

Savings

43,671

29,258

14,413

49

Money market

180,790

133,245

47,545

36

NOW

93,679

68,398

25,281

37

Certificates of deposit

284,766

221,738

63,028

28

       Total deposits

$ 730,734

$ 553,218

$177,516

32




Share Repurchases

The Company purchased 102,200 shares of its common stock during the fourth quarter of 2011 at an average price per share of $14.83 under the share repurchase plan announced in May 2011.  The Company may repurchase up to 402,835 shares, or approximately 5%, of the Company's outstanding common stock under the May 2011 plan.  As of January 20, 2012, the Company has purchased 304,325 shares under the plan at an average price per share of $14.55; hence, 98,510 additional shares remain eligible for purchase under the plan.  The tangible book value per share of the Company's common stock was $16.96 at December 31, 2011.

Net Interest Income

Net interest income for the fourth quarter of 2011 totaled $10.0 million, an increase of $593,000, or 6%, compared to the third quarter of 2011, and an increase of $2.8 million, or 40%, compared to the fourth quarter of 2010.  The Company's net interest margin was 4.66% for the fourth quarter of 2011, eight basis points higher than the third quarter of 2011 and four basis points lower than the fourth quarter of 2010.  The increase in the net interest margin compared to the third quarter of 2011 was primarily due to changes in the mix of interest-earning assets.  The decrease in the net interest margin compared to the fourth quarter of 2010 was primarily due to lower average yields on interest-earning assets resulting from the current interest rate environment and lower costs on interest-bearing liabilities.

Net interest income for 2011 totaled $33.2 million, an increase of $5.4 million, or 20%, compared to 2010.   The 20% increase relates primarily to the acquisition of GSB and organic loan and core deposit growth.  The Company's net interest margin was 4.64% in 2011, two basis points higher than 2010, which was the result of mix changes in interest-earnings assets and lower costs on interest-bearing liabilities.

The following table sets forth the Company's average balance 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


December 31, 2011

September 30, 2011

December 31, 2010

(dollars in thousands)

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Interest-earning assets:







Loans receivable

$662,429

6.26%

$612,416

6.30%

$448,172

6.61%

Investment securities

162,367

2.18

174,208

2.36

124,561

3.39

Other interest-earning assets

26,026

0.79

28,447

0.51

32,045

0.47

Total interest-earning assets

$850,822

5.35

$815,071

5.30

$604,778

5.62








Interest-bearing liabilities:







Deposits:







Savings, checking, and money market

$314,695

0.47

$300,000

0.52

$220,556

0.56

Certificates of deposit

284,169

1.16

273,407

1.20

228,848

1.70

Total interest-bearing deposits

598,864

0.80

573,407

0.84

449,404

1.14

FHLB advances

103,011

0.75

105,828

0.68

14,027

3.17

Total interest-bearing liabilities

$701,875

0.79

$679,235

0.82

$463,431

1.20








Net interest spread


4.56%


4.48%


4.42%

Net interest margin


4.66


4.58


4.70









For the Year Ended


December 31, 2011

December 31, 2010

(dollars in thousands)

Average

Balance

Average

Yield/Rate

Average

Balance

Average

Yield/Rate

Interest-earning assets:





Loans receivable

$539,956

6.43%

$447,606

6.38%

Investment securities

153,175

2.38

129,523

3.84

Other interest-earning assets

25,072

0.68

23,926

0.55

Total interest-earning assets

$718,203

5.30

$601,055

5.60






Interest-bearing liabilities:





Deposits:





Savings, checking, and money market

$272,512

0.50

$196,561

0.65

Certificates of deposit

239,584

1.34

239,872

1.68

Total interest-bearing deposits

512,096

0.89

436,433

1.22

FHLB advances

66,264

0.88

20,587

2.75

Total interest-bearing liabilities

$578,360

0.89

$457,020

1.29






Net interest spread


4.41%


4.31%

Net interest margin


4.64


4.62




Noninterest Income

Noninterest income for the fourth quarter of 2011 totaled $1.9 million, an increase of $259,000, or 16%, compared to the third quarter of 2011 and an increase of $380,000, or 26%, compared to the fourth quarter of 2010.  The increase in noninterest income in the fourth quarter of 2011 compared to the third quarter of 2011 was primarily the result of increased gains on the sale of mortgage loans of $357,000, or 217%.  The increase in noninterest income in the fourth quarter of 2011 compared to the fourth quarter of 2010 was primarily the result of increased gains on the sale of mortgage loans of $183,000, or 54%, and the absence of OTTI charges of $218,000 incurred in the fourth quarter of 2010.

Noninterest income for 2011 totaled $6.8 million, an increase of $2.3 million, or 51%, from 2010.  The increase in noninterest income in 2011 compared to 2010 was primarily the result of the absence of OTTI charges of $1.2 million incurred in 2010 and a $525,000 payment received in settlement of a lawsuit during the second quarter of 2011.  Additionally, service fees and charges, bank card fees and gains on the sale of mortgage loans increased in 2011 compared to 2010 as a result of the GSB acquisition and organic customer growth.  

Noninterest Expense

Noninterest expense for the fourth quarter of 2011 totaled $8.1 million, a decrease of $1.1 million, or 12%, compared to the third quarter of 2011 and an increase of $1.8 million, or 29%, compared to the fourth quarter of 2010.  Noninterest expense for the third and fourth quarters of 2011 include pre-tax expenses related to the acquisition of GSB of $1.4 million and $604,000, respectively.  Such merger-related expenses included professional fees, data conversion and severance and other employee costs associated with the merger and related systems conversion.  Excluding merger-related expenses, noninterest expense for the fourth quarter of 2011 totaled $7.5 million, a decrease of $255,000, or 3%, compared to the third quarter of 2011 and an increase of $1.2 million, or 19%, compared to the fourth quarter of 2010.    

Exclusive of merger-related expenses, the decrease in noninterest expense during the fourth quarter of 2011 compared to the third quarter of 2011 was primarily attributable to decreases in accruals for the Louisiana shares tax and FDIC assessments.  Such decreases were partially offset by increased foreclosed asset collection expenses.

Exclusive of merger-related expenses, the increase in noninterest expense in the fourth quarter of 2011 compared to the same quarter last year was primarily attributable to the growth of the Company's branch network due to the GSB acquisition.  

Noninterest expense for 2011 totaled $30.8 million, an increase of $6.4 million, or 26%, from 2010.  The increase in noninterest expense in 2011 compared to 2010 was primarily the result of higher compensation and benefits, occupancy and data processing and communications expenses related primarily to the GSB acquisition.

Non-GAAP Reconciliation






For the Three Months Ended

(dollars in thousands)

December 31, 2011

September 30, 2011

December 31, 2010





Reported noninterest expense

$  8,083

$ 9,182

$ 6,273

Less: Merger-related expenses

(604)

(1,449)

-

Non-GAAP noninterest expense

$  7,479

$ 7,733

$ 6,273





Reported net income

$     2,134

$  923

$    1,465

Add: Merger-related expenses (after tax)

396

959

-

Non-GAAP net income

$ 2,530

$ 1,882

$    1,465






For the Year Ended


(dollars in thousands)

December 31, 2011

December 31, 2010






Reported noninterest expense

$    30,783

$24,373


Less: Merger-related expenses

(2,053)

-


Non-GAAP noninterest expense

$    28,730

$24,373






Reported net income

$      5,120

$  4,688


Add: Merger-related expenses (after tax)

1,355

-


Non-GAAP net income

$      6,475

$  4,688





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 merger-related expenses. 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 Annual Report on Form 10-K for the year ended December 31, 2010, 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,


2011


2010


Change



2011

Assets









Cash and cash equivalents

$   31,272,508


$   36,970,638


(15) %



$   32,916,713

Interest-bearing deposits in banks

5,583,000


7,867,000


(29)



6,318,000

Investment securities available for sale, at fair value

155,259,978


111,962,331


39



165,513,687

Investment securities held to maturity

3,461,717


15,220,474


(77)



3,938,656

Mortgage loans held for sale

1,672,597


2,436,986


(31)



8,928,396

Loans covered by loss sharing agreements

61,070,360


80,446,859


(24)



67,296,479

Noncovered loans, net of unearned income

605,301,127


359,464,400


68



586,339,131

    Total loans

666,371,487


439,911,259


51



653,635,610

Allowance for loan losses

(5,104,363)


(3,919,745)


30



(4,529,834)

    Total loans, net of allowance for loan losses

661,267,124


435,991,514


52



649,105,776

FDIC loss sharing receivable

24,222,190


32,012,783


(24)



25,628,190

Office properties and equipment, net

31,763,692


23,371,915


36



31,314,946

Cash surrender value of bank-owned life insurance

16,771,174


16,192,645


4



16,628,613

Accrued interest receivable and other assets

32,515,158


18,396,806


77



31,880,426

Total Assets

$ 963,789,138


$ 700,423,092


38



$ 972,173,403



















Liabilities









Deposits

$ 730,733,755


$ 553,217,853


32%



$ 719,460,464

Federal Home Loan Bank advances

93,622,954


13,000,000


620



113,458,132

Accrued interest payable and other liabilities

5,147,595


2,675,297


92



6,187,857

Total Liabilities

829,504,304


568,893,150


46



839,106,453










Shareholders' Equity









Common stock

89,335


89,270


-%



89,497

Additional paid-in capital

89,741,406


88,818,862


1



89,336,376

Treasury stock

(15,892,315)


(10,425,725)


52



(14,376,355)

Common stock acquired by benefit plans

(8,625,513)


(9,770,556)


(12)



(8,714,783)

Retained earnings

67,245,350


62,125,568


8



65,111,099

Accumulated other comprehensive income

1,726,571


692,523


149



1,621,116

Total Shareholders' Equity

134,284,834


131,529,942


2



133,066,950

Total Liabilities and Shareholders' Equity

$ 963,789,138


$ 700,423,092


38



$ 972,173,403



HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME















For The Three Months Ended





For The Year Ended





December 31,

%



December 31,


%



2011

2010


Change



2011

2010


Change


Interest Income












Loans, including fees

$ 10,450,022

$ 7,456,346


40%



$ 34,604,712

$ 28,556,905


21%


Investment securities

883,979

1,056,751


(16)



3,686,134

4,969,876


(26)


Other investments and deposits

36,803

37,895


(3)



144,346

132,121


9


Total interest income

11,370,804

8,550,992


33



38,435,192

33,658,902


14














Interest Expense












Deposits

1,194,653

1,294,223


(8) %



4,626,198

5,316,147


(13) %


Federal Home Loan Bank advances

194,407

111,440


74



590,972

565,011


5


Total interest expense

1,389,060

1,405,663


(1)



5,217,170

5,881,158


(11)


Net interest income

9,981,744

7,145,329


40



33,218,022

27,777,744


20


Provision for loan losses

567,968

147,297


286



1,460,427

864,659


69


Net interest income after provision for loan losses

9,413,776

6,998,032


35



31,757,595

26,913,085


18














Noninterest Income












Service fees and charges

538,368

477,547


13%



2,160,706

2,013,358


7%


Bank card fees

443,407

405,685


9



1,737,554

1,418,620


22


Gain on sale of loans, net

520,493

337,435


54



910,165

716,252


27


Income from bank-owned life insurance

142,561

158,496


(10)



578,529

631,702


(8)


Other-than-temporary impairment of securities

-

(218,266)


-



-

(1,229,037)


-


Gain (loss) on the sale of securities, net

(4,706)

19,573


(124)



(170,788)

58,704


(391)


Discount accretion of FDIC loss sharing receivable

187,799

236,895


(21)



851,080

738,431


15


Settlement of litigation

-

-


-



525,000

-


-


Other income

30,461

60,787


(50)



188,750

144,045


31


Total noninterest income

1,858,383

1,478,152


26



6,780,996

4,492,075


51














Noninterest Expense












Compensation and benefits

4,692,503

3,797,201


24%



17,821,501

14,505,004


23%


Occupancy

799,493

565,753


41



2,633,558

2,217,788


19


Marketing and advertising

312,733

238,500


31



980,557

826,616


19


Data processing and communication

713,701

493,814


45



3,141,776

2,141,975


47


Professional fees

203,524

188,737


8



1,378,504

1,084,170


27


Forms, printing and supplies

139,997

131,860


6



542,079

512,777


6


Franchise and shares tax

93,783

(40,515)


331



675,801

400,589


69


Regulatory fees

169,375

228,244


(26)



857,990

620,526


38


Foreclosed assets, net

242,590

173,488


40



471,637

241,593


95


Other expenses

715,087

495,880


44



2,279,996

1,822,107


25


Total noninterest expense

8,082,786

6,272,962


29



30,783,399

24,373,145


26


Income before income tax expense

3,189,373

2,203,222


45



7,755,192

7,032,015


10


Income tax expense

1,055,122

738,301


43



2,635,411

2,343,890


12


Net income

$   2,134,251

$ 1,464,921


46%



$   5,119,781

$   4,688,125


9%














Earnings per share - basic

$            0.31

$          0.20


55%



$            0.72

$            0.62


16%


Earnings per share - diluted

$            0.30

$          0.20


50



$            0.71

$            0.62


15




HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























For The Three Months Ended





For The Three






December 31,


%  



Months Ended



%  



2011


2010


Change



September 30, 2011



Change


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$    11,371


$      8,550


33%



$                     10,788



5%


Total interest expense

1,389


1,406


(1)



1,400



(1)


Net interest income

9,982


7,144


40



9,388



6


Provision for loan losses

568


147


286



526



8


Total noninterest income

1,858


1,478


26



1,599



16


Total noninterest expense

8,083


6,272


29



9,182



(12)


Income tax expense

1,055


738


43



356



196


Net income

$      2,134


$      1,465


46



$                          923



131















AVERAGE BALANCE SHEET DATA













Total assets

$  965,357


$  698,683


38%



$                   926,101



4%


Total interest-earning assets

850,822


604,778


41



815,071



4


Totals loans

662,429


448,172


48



612,416



8


Total interest-bearing deposits

598,864


449,404


33



573,407



4


Total interest-bearing liabilities

701,875


463,431


51



679,235



3


Total deposits

724,717


551,010


32



689,014



5


Total shareholders' equity

133,899


131,802


2



127,750



5















SELECTED RATIOS (1)













Return on average assets

0.88%


0.84%


5%



0.40%



120%


Return on average equity

6.38


4.45


43



2.89



121


Efficiency ratio (2)

68.27


72.74


(6)



83.57



(18)


Average equity to average assets

13.87


18.86


(26)



13.79



1


Tier 1 leverage capital ratio (3)

12.52


15.46


(19)



12.17



3


Total risk-based capital ratio (3)

21.08


23.65


(11)



21.17



-


Net interest margin (4)

4.66


4.70


(1)



4.58



2















PER SHARE DATA













Basic earnings per share

$        0.31


$        0.20


55%



$                         0.13



138%


Diluted earnings per share

0.30


0.20


50



0.13



131


Book value at period end

17.30


16.18


7



16.92



2


Tangible book value at period end

16.96


15.46


10



16.60



2















PER SHARE DATA













Shares outstanding at period end

7,759,954


8,311,602


(7)%



7,862,154



(1) %


Weighted average shares outstanding













  Basic

6,882,206


7,274,882


(5)%



7,173,443



(4) %


  Diluted

7,033,984


7,347,275


(4)



7,274,615



(3)

















(1)  With the exception of end-of-period ratios, all ratios are based on average monthly balances during the respective periods.

(2)  The efficiency ratio represents noninterest expense as a percentage of total revenues.  Total revenues is the sum of net interest income and noninterest income.

(3)  Capital ratios are end of period ratios for the Bank only.

(4)  Net interest margin represents net interest income as a percentage of average interest-earning assets.



HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION












































December 31, 2011


September 30, 2011


December 31, 2010


Covered

Noncovered

Total


Covered

Noncovered

Total


Covered

Noncovered

Total

(dollars in thousands)





















CREDIT QUALITY (1)  (2)





















Nonaccrual loans

$ 10,460


$ 11,000


$ 21,460



$ 10,680


$   8,791


$ 19,471



$ 15,988


$ 1,056


$ 17,044


Accruing loans past due 90 days and over

      -


      -


      -



      -


      -


      -



      -


      -


      -


Total nonperforming loans

10,460


11,000


21,460



10,680


8,791


19,471



15,988


1,056


17,044


Other real estate owned

6,096


2,868


8,964



5,495


3,066


8,561



5,661


92


5,753


Total nonperforming assets

16,556


13,868


30,424



16,175


11,857


28,032



21,649


1,148


22,797


Performing troubled debt restructurings

26


572


598



29


587


616



      -


721


721


Total nonperforming assets and troubled





















debt restructurings

$ 16,582


$ 14,440


$ 31,022



$ 16,204


$ 12,444


$ 28,648



$ 21,649


$ 1,869


$ 23,518























Nonperforming assets to total assets





3.16%







2.88%







3.25%


Nonperforming loans to total assets





2.23







2.00







2.43


Nonperforming loans to total loans





3.21







2.98







3.87


Allowance for loan losses to nonperforming assets





16.78







16.16







17.19


Allowance for loan losses to nonperforming loans





23.79







23.26







23.00


Allowance for loan losses to total loans





0.77







0.69







0.89























Year-to-date loan charge-offs





$      334







$      320







$      369


Year-to-date loan recoveries





58







38







72


Year-to-date net loan charge-offs





$      276







$      282







$      297


Annualized YTD net loan charge-offs to total loans





0.04%







0.06%







0.07%




(1)  Nonperforming loans consist of nonaccruing loans and loans 90 days or more past due.  Nonperforming assets consist of nonperforming loans and repossessed assets.  It is our policy to cease accruing interest on loans 90 days or more past due.  Repossessed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure.

(2)  Asset quality information includes assets covered under FDIC loss sharing agreements. Such assets covered by FDIC loss sharing agreements are referred to as "Covered" assets.  All other assets are referred to as "Noncovered".



SOURCE Home Bancorp, Inc.



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