PR Newswire: news distribution, targeting and monitoring
2014
See more news releases in Banking & Financial Services  | Earnings

Home Bancorp Announces 2011 Third Quarter Results

Share with Twitter Share with LinkedIn

LAFAYETTE, La., Oct. 25, 2011 /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 $923,000 for the third quarter of 2011, a decrease of $344,000, or 27%, compared to the second quarter of 2011 and an increase of $12,000, or 1%, compared to the third quarter of 2010.  The third quarter of 2011 includes $1.4 million of pre-tax expenses related to the acquisition of GS Financial Corp.  Excluding merger-related expenses, net income for the third quarter of 2011 was $1.9 million, increases of 30% and 107% compared to the second quarter of 2011 and the third quarter of 2010, respectively.  Diluted earnings per share were $0.13 for the third quarter of 2011, compared to $0.17 for the second quarter of 2011 and $0.12 for the third quarter of 2010.  Excluding merger-related expenses, diluted earnings per share were $0.26 for the third quarter of 2011, increases of 30% and 100% compared to the second quarter of 2011 and the third quarter of 2010, respectively.

"Since completing our IPO, we have worked diligently to expand our geographic footprint across South Louisiana to enhance our ability to serve our customers," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank.  "We enter the last quarter of 2011 in the best position in our company's history to strengthen existing relationships and earn new customers."

"Excluding merger-related expenses, our disciplined growth has strengthened our earnings stream," added Mr. Bordelon, "We will continue to make investments in personnel, technology and processes to further enhance the customer experience and raise shareholder value."  

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 of Metairie, Louisiana, on July 15, 2011.  As a result of the transaction, in which GS Financial Corp. was merged with and into the Company and Guaranty Savings Bank was merged with and into the Bank, the Company acquired $256.9 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.  

The assets and liabilities from GS Financial Corp. were recorded at their estimated fair values as of the acquisition date. Such fair values are preliminary estimates and are subject to adjustment for up to one year after the acquisition date. A summary of the assets and liabilities acquired and estimated fair value adjustments follows.




As of July 15, 2011

(in thousands)

GS Financial
Corp.

Fair Value
Adjustments

As recorded by
Home Bancorp

Assets




Cash and cash equivalents

$     9,262

$           -

$     9,262

Investment securities available for sale

46,667

(186)

46,481

Loans

184,345

(1,845)

182,500

Real estate owned

2,549

(384)

2,165

Office properties and equipment, net

7,317

1,126

8,443

Core deposit intangible

-

859

859

Other assets

7,023

186

7,209

Total assets acquired

257,163

(244)

256,919





Liabilities




Deposits:




Noninterest-bearing

$     13,401

$            -

$     13,401

Interest-bearing

179,193

924

180,117

Total deposits

192,594

924

193,518

Federal Home Loan Bank ("FHLB") advances

33,762

945

34,707

Other liabilities

2,293

135

2,428

Total liabilities assumed

$   228,649

$    2,004

$   230,653

Excess of assets acquired over liabilities assumed



26,266

Cash consideration paid



(26,417)

Total goodwill recorded



$          151




Loans and Credit Quality

Loans totaled $653.6 million at September 30, 2011, an increase of $204.1 million, or 45%, from June 30, 2011, and an increase of $207.4 million, or 47%, from September 30, 2010.  Growth in the loan portfolio was primarily driven by the acquisition of GS Financial Corp., which added $182.5 million in loans at acquisition date.  Organic loan growth during the quarter was related primarily to commercial and industrial (up $19.3 million) and construction and land (up $5.6 million) loans.

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

(dollars in thousands)

September 30,
2011

December 31,
2010

Total Loans
Increase/(Decrease)

Noncovered real estate loans:





    One- to four-family first mortgage

$174,015

$ 105,157

$ 68,858

66%

    Home equity loans and lines

38,623

24,898

13,725

55

    Commercial real estate

187,404

115,946

71,458

62

    Construction and land

64,268

45,177

19,091

42

    Multi-family residential

14,083

4,493

9,590

214

       Total noncovered real estate loans

478,393

295,671

182,722

62

Noncovered other loans:





    Commercial and industrial

80,497

42,247

38,250

91

    Consumer

27,450

21,546

5,904

27

       Total noncovered other loans

107,947

63,793

44,154

69

       Total noncovered loans

586,340

359,464

226,876

63

Covered loans

67,296

80,447

(13,151)

(16)

       Total loans

$653,636

$ 439,911

$213,725

49%




Nonperforming assets ("NPAs") totaled $24.9 million at September 30, 2011, an increase of $4.9 million compared to June 30, 2011 and an increase of $1.1 million compared to September 30, 2010.  The increase in NPAs from June 30, 2011 relates to the NPAs acquired from GS Financial Corp., which totaled $6.3 million at September 30, 2011.  Excluding Covered Assets, the ratio of NPAs to total assets was 0.97% at September 30, 2011, compared to 0.19% at June 30, 2011 and 0.23% at September 30, 2010.  The Company recorded net charge-offs of $53,000 during the third quarter of 2011, compared to net charge-offs of $227,000 in the second quarter of 2011 and $48,000 in the third quarter of 2010.

The Company's loan loss provision for the third quarter of 2011 was $526,000, compared to $265,000 and $168,000 for the second quarter of 2011 and the third quarter of 2010, respectively.  The increase was primarily attributable to organic loan growth during the third quarter of 2011.

At September 30, 2011, the Company's ratio of allowance for loan losses to total loans was 0.69%, compared to 0.90% and 0.88% at June 30, 2011 and September 30, 2010, respectively.  The decrease in the ratio of allowance for loan losses to total loans relates to the acquisition of GS Financial Corp. loan portfolio.  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 GS Financial Corp. and Statewide Bank (March 2010), the ratio of allowance for loan losses to total organic (i.e., not acquired) loans was 1.09% at September 30, 2011.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $169.5 million at September 30, 2011, an increase of $21.2 million, or 14%, from June 30, 2011, and an increase of $37.1 million, or 28%, from September 30, 2010.  The increase resulted from the addition of $46.5 million in investment securities acquired from GS Financial Corp., less paydowns, calls and maturities received during the quarter.  At September 30, 2011, the Company had a net unrealized gain position on its investment securities portfolio of $2.5 million, compared to net unrealized gains of $1.9 million and $1.1 million as of June 30, 2011 and September 30, 2010, respectively.

The Company maintains a portfolio of non-agency mortgage-backed securities, which had an amortized cost of $15.9 million at September 30, 2011.  Each of these securities is rated investment grade by Standard & Poor's and/or Moody's.      

Deposits

Deposits totaled $719.5 million at September 30, 2011, increases of $192.1 million, or 36%, from June 30, 2011, and $172.8 million, or 32%, from September 30, 2010.  The acquisition of GS Financial Corp. added $193.5 million in deposits during the quarter.  The Company's organic core deposits (i.e., checking, savings and money market accounts) increased for the ninth consecutive quarter, posting growth of $9.2 million, or 2.7%, during the third quarter of 2011.  

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






September 30,

December 31,

Increase / (Decrease)

(dollars in thousands)

2011

2010

Amount

Percent

Demand deposit

$   123,545

$  100,579

$  22,966

23%

Savings

43,802

29,258

14,544

50

Money market

172,713

133,245

39,468

30

NOW

93,255

68,398

24,857

36

Certificates of deposit

286,145

221,738

64,407

29

       Total deposits

$ 719,460

$ 553,218

$166,242

30%




Share Repurchases

The Company purchased 175,610 shares of its common stock during the third quarter of 2011 at an average price per share of $14.39 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.  To date, the Company has purchased 200,910 shares under the plan at an average price per share of $14.40; hence, 201,925 shares remain eligible for purchase under the plan.  

Net Interest Income

Net interest income for the third quarter of 2011 totaled $9.4 million, an increase of $2.4 million, or 35%, compared to the second quarter of 2011, and an increase of $2.1 million, or 29%, compared to the third quarter of 2010.  The addition of GS Financial's earning assets and interest-bearing liabilities accounted for the vast majority of the increase.  The Company's net interest margin was 4.58% for the third quarter of 2011, three basis points higher than the second quarter of 2011 and 17 basis points lower than the third quarter of 2010.  

The following table sets forth the Company's average volume and rate of its interest-earning assets and interest-bearing liabilities for the periods indicated.










For the Three Months Ended


September 30, 2011

September 30, 2010

June 30, 2011

(dollars in thousands)

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Earning assets:







Loans receivable

$612,416

6.30%

$456,262

6.58%

$445,947

6.53%

Investment securities

174,208

2.36

133,074

3.69

145,624

2.24

Other interest-earning assets

28,447

0.51

18,813

0.67

21,371

0.66

Total earning assets

$815,071

5.30

$608,149

5.76

$612,942

5.31








Interest-bearing liabilities:







Deposits:







Savings, checking, and money market

$300,000

0.52

$204,939

0.72

$241,960

0.48

Certificates of deposit

273,407

1.20

243,240

1.68

191,038

1.56

Total interest-bearing deposits

573,407

0.84

448,179

1.24

432,998

0.96

FHLB advances

105,828

0.68

22,570

2.48

41,011

1.12

Total interest-bearing liabilities

$679,235

0.82

$470,749

1.30

$474,009

0.97








Net interest spread


4.48%


4.46%


4.34%

Net interest margin


4.58%


4.75%


4.55%




Noninterest Income

Noninterest income for the third quarter of 2011 totaled $1.6 million, a decrease of $476,000, or 23%, compared to the second quarter of 2011, and an increase of $1.0 million, or 165%, compared to the third quarter of 2010.

The decrease in noninterest income in the third quarter of 2011 compared to the second quarter of 2011 resulted primarily from a litigation settlement of $525,000 received in the second quarter of 2011.  This decrease was partially offset by higher service fees and charges, bank card fees and gains on the sale of loans.

The increase in noninterest income in the third quarter of 2011 compared to the third quarter of 2010 resulted primarily from other-than-temporary impairment ("OTTI") of investment securities charges of $870,000 recorded during the third quarter of 2010 and higher service fees and charges and bank card fees.  These increases were partially offset by decreased gains on the sale of loans and decreased discount accretion of the FDIC loss sharing receivable.  

Noninterest Expense

Noninterest expense for the third quarter of 2011 totaled $9.2 million, an increase of $2.4 million, or 35%, compared to the second quarter of 2011 and an increase of $2.9 million, or 45%, compared to the third quarter of 2010.  Noninterest expense for the third quarter of 2011 includes $1.4 million of expenses related to the acquisition of GS Financial Corp.  Such merger-related expenses include 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 third quarter of 2011 totaled $7.8 million, an increase of $1.1 million, or 17%, compared to the second quarter of 2011 and an increase of $1.4 million, or 22%, compared to the third quarter of 2010.  The increases primarily relate to the growth of the Company's branch network due to the addition of GS Financial Corp. branches and employees.  

Non-GAAP Reconciliation







For the Three Months Ended

(dollars in thousands)

September 30, 2011

June 30, 2011

September 30, 2010





Reported noninterest expense

$  9,211

$ 6,813

$ 6,354

Less: Merger-related expenses

(1,449)

(194)

-

Non-GAAP noninterest expense

$  7,762

$ 6,619

$ 6,354





Reported net income

$     923

$ 1,267

$    911

Add: Merger-related expenses (after tax)

959

181

-

Non-GAAP net income

$ 1,882

$ 1,448

$    911






For the Nine Months Ended


(dollars in thousands)

September 30, 2011

September 30, 2010






Reported noninterest expense

$    22,753

$18,093


Less: Merger-related expenses

(1,833)

-


Non-GAAP noninterest expense

$    20,920

$18,093






Reported net income

$      2,986

$  3,223


Add: Merger-related expenses (after tax)

1,331

-


Non-GAAP net income

$      4,317

$  3,223





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















September 30,


September 30,


%



June 30,


December 31,


2011


2010


Change



2011


2010

Assets











Cash and cash equivalents

$   32,916,713


$   23,771,777


38%



$   21,588,068


$   36,970,638

Interest-bearing deposits in banks

6,318,000


6,387,000


(1)



8,273,000


7,867,000

Investment securities available for sale, at fair value

165,513,687


111,607,433


48



140,969,334


111,962,331

Investment securities held to maturity

3,938,656


20,793,424


(81)



7,253,356


15,220,474

Mortgage loans held for sale

8,928,396


6,400,335


39



2,773,616


2,436,986

Loans covered by loss sharing agreements

67,296,479


91,346,684


(26)



68,421,716


80,446,859

Noncovered loans, net of unearned income

586,339,131


354,883,203


65



381,119,264


359,464,400

    Total loans

653,635,610


446,229,887


46



449,540,980


439,911,259

Allowance for loan losses

(4,529,834)


(3,923,826)


15



(4,057,044)


(3,919,745)

    Total loans, net of allowance for loan losses

649,105,776


442,306,061


47



445,483,936


435,991,514

FDIC loss sharing receivable

25,628,190


32,262,081


(21)



30,709,836


32,012,783

Office properties and equipment, net

31,314,946


23,621,092


33



23,015,352


23,371,915

Cash surrender value of bank-owned life insurance

16,628,613


16,034,149


4



16,485,001


16,192,645

Accrued interest receivable and other assets

31,880,426


15,297,599


108



20,848,648


18,396,806

Total Assets

$ 972,173,403


$ 698,480,951


39



$ 717,400,147


$ 700,423,092























Liabilities











Deposits

$ 719,460,464


$ 546,657,570


32%



$ 527,402,695


$ 553,217,853

Federal Home Loan Bank advances

113,458,132


16,000,000


609



52,500,000


13,000,000

Accrued interest payable and other liabilities

6,187,857


3,744,475


65



3,740,456


2,675,297

Total Liabilities

839,106,453


566,402,045


48



583,643,151


568,893,150












Shareholders' Equity











Common stock

89,497


89,270


-%



89,312


89,270

Additional paid-in capital

89,336,376


88,437,391


1



88,922,459


88,818,862

Treasury stock

(14,376,355)


(7,955,813)


81



(11,849,932)


(10,425,725)

Common stock acquired by benefit plans

(8,714,783)


(9,859,826)


(12)



(8,813,501)


(9,770,556)

Retained earnings

65,111,099


60,660,647


7



64,187,699


62,125,568

Accumulated other comprehensive income

1,621,116


707,237


129



1,220,959


692,523

Total Shareholders' Equity

133,066,950


132,078,906


1



133,756,996


131,529,942

Total Liabilities and Shareholders' Equity

$ 972,173,403


$ 698,480,951


39



$ 717,400,147


$ 700,423,092



HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME















For The Three Months Ended





For The Nine Months Ended





September 30,


%



September 30,


%



2011

2010


Change



2011

2010


Change


Interest Income












Loans, including fees

$ 9,728,512

$ 7,549,667


29%



$ 24,154,691

$ 21,100,559


14%


Investment securities

1,023,976

1,226,765


(17)



2,802,155

3,913,125


(28)


Other investments and deposits

36,280

32,899


10



107,543

94,226


14


Total interest income

10,788,768

8,809,331


22



27,064,389

25,107,910


8














Interest Expense












Deposits

1,219,492

1,403,060


(13)%



3,431,545

4,021,924


(15)%


Federal Home Loan Bank advances

180,839

139,521


30



396,565

453,571


(13)


Total interest expense

1,400,331

1,542,581


(9)



3,828,110

4,475,495


(14)


Net interest income

9,388,437

7,266,750


29



23,236,279

20,632,415


13


Provision for loan losses

525,510

167,580


214



892,459

717,362


24


Net interest income after provision for loan losses

8,862,927

7,099,170


25



22,343,820

19,915,053


12














Noninterest Income












Service fees and charges

601,916

541,538


11%



1,622,339

1,535,811


6%


Bank card fees

451,959

343,906


31



1,294,146

1,012,935


28


Gain on sale of loans, net

163,986

198,522


(17)



389,673

378,817


3


Income from bank-owned life insurance

143,612

161,540


(11)



435,968

473,206


(8)


Other-than-temporary impairment of securities

-

(870,254)


-



-

(1,010,771)


-


Gain (loss) on the sale of securities, net

-

-


-



(166,082)

39,131


(524)


Discount accretion of FDIC loss sharing receivable

193,349

249,949


(23)



663,281

501,537


32


Other income

72,941

(12,582)


680



735,255

75,616


872


Total noninterest income

1,627,763

612,619


166



4,974,580

3,006,282


65














Noninterest Expense












Compensation and benefits

5,215,478

3,824,287


36%



13,128,998

10,707,803


23%


Occupancy

709,640

615,972


15



1,834,066

1,652,035


11


Marketing and advertising

291,628

184,179


58



667,824

588,116


14


Data processing and communication

1,314,568

635,382


107



2,428,075

1,648,161


47


Professional fees

327,728

198,482


65



1,174,980

895,433


31


Franchise and shares tax

221,017

98,397


125



582,018

441,104


32


Regulatory fees

258,234

159,026


62



688,616

392,282


76


Other expenses

872,662

638,010


37



2,248,005

1,767,609


27


Total noninterest expense

9,210,955

6,353,735


45



22,752,582

18,092,543


26


Income before income tax expense

1,279,735

1,358,054


(6)



4,565,818

4,828,792


(5)


Income tax expense

356,336

447,061


(20)



1,580,288

1,605,589


(2)


Net income

$    923,399

$    910,993


1%



$   2,985,530

$   3,223,203


(7)%














Earnings per share - basic

$          0.13

$          0.12


8%



$            0.42

$            0.42


-%


Earnings per share - diluted

$          0.13

$          0.12


8



$            0.41

$            0.42


(2)




HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























For The Three Months Ended





For The Three  






September 30,


%  



Months Ended



%  



2011


2010


Change



June 30, 2011



Change


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$    10,788


$      8,809


22%



$              8,117



33%


Total interest expense

1,400


1,542


(9)



1,150



22


Net interest income

9,388


7,267


29



6,967



35


Provision for loan losses

526


168


213



265



98


Total noninterest income

1,628


613


166



2,103



(23)


Total noninterest expense

9,211


6,354


45



6,812



35


Income tax expense

356


447


(20)



726



(51)


Net income

$         923


$         911


1



$              1,267



(27)















AVERAGE BALANCE SHEET DATA













Total assets

$  926,101


$  703,812


32%



$          709,360



31%


Total interest-earning assets

815,071


608,149


34



612,942



33


Loans

612,416


456,262


34



445,947



37


Interest-bearing deposits

573,407


448,179


28



432,998



32


Interest-bearing liabilities

679,235


470,749


44



474,009



43


Total deposits

689,014


544,228


27



533,640



29


Total shareholders' equity

127,750


133,134


(4)



133,344



(4)















SELECTED RATIOS (1)













Return on average assets

0.40%


0.52%


(23)%



0.71%



(44)%


Return on average equity

2.89


2.74


5



3.80



(24)


Efficiency ratio (2)

83.61


80.64


4



75.11



11


Average equity to average assets

13.79


18.92


(27)



18.80



(27)


Tier 1 leverage capital ratio (3)

12.17


15.27


(20)



15.44



(21)


Total risk-based capital ratio (3)

21.17


23.10


(8)



27.44



(23)


Net interest margin (4)

4.58


4.75


(4)



4.55



1















PER SHARE DATA













Basic earnings per share

$        0.13


$        0.12


8%



$0.18



(28)%


Diluted earnings per share

0.13


0.12


8



0.17



(24)


Book value at period end

16.92


15.89


6



16.65



2


Tangible book value at period end

16.60


15.67


6



16.44



1















PER SHARE DATA













Shares outstanding at period end

7,862,154


8,311,602


(5)%



8,035,404



(2)%


Weighted average shares outstanding













  Basic

7,173,443


7,481,472


(4)%



7,191,476



-%


  Diluted

7,274,615


7,531,100


(3)



7,337,358



(1)















(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












































September 30, 2011


June 30, 2011


September 30, 2010


Covered

Noncovered

Total


Covered

Noncovered

Total


Covered

Noncovered

Total

(dollars in thousands)





















CREDIT QUALITY (1)  (2)





















Nonaccrual loans

$ 10,680


$ 5,698


$ 16,378



$ 11,668


$ 1,127


$ 12,795



$ 19,851


$ 1,391


$ 21,242


Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-


Total nonperforming loans

10,680


5,698


16,378



11,668


1,127


12,795



19,851


1,391


21,242


Other real estate owned

5,495


3,066


8,561



7,178


92


7,270



2,634


-


2,634


Total nonperforming assets

16,175


8,764


24,939



18,846


1,219


20,065



22,485


1,391


23,876


Performing troubled debt restructurings

29


587


616



30


922


952



-


729


729


Total nonperforming assets and troubled





















debt restructurings

$ 16,204


$ 9,351


$ 25,555



$ 18,876


$ 2,141


$ 21,017



$ 22,485


$ 2,120


$ 24,605























Nonperforming assets to total assets

22.22%


0.97%


2.57%



24.93%


0.19%


2.80%



23.92%


0.23%


3.42%


Nonperforming loans to total assets

14.67


0.63


1.68



15.43


0.18


1.78



21.12


0.23


3.04


Nonperforming loans to total loans

15.87


0.97


2.51



17.05


0.30


2.85



21.73


0.39


4.76


Allowance for loan losses to nonperforming assets

0.31


51.11


18.16



-


332.84


20.20



-


282.18


16.43


Allowance for loan losses to nonperforming loans

0.47


78.61


27.66



-


359.97


31.70



-


282.18


18.47


Allowance for loan losses to total loans

0.07


0.76


0.69



-


1.06


0.90



-


1.11


0.88























Year-to-date loan charge-offs

$        -


$ 320


$   320



$        -


$ 260


$   260



$        -


$ 193


$   193


Year-to-date loan recoveries

-


38


38



-


30


30



-


48


48


Year-to-date net loan charge-offs

$        -


$    282


$      282



$        -


$ 230


$   230



$        -


$ 145


$   145


Annualized YTD net loan charge-offs to total loans

-%


0.06%


0.06%



-%


0.12%


0.10%



-%


0.05%


0.04%

































































(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 excludes 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.



RELATED LINKS
http://www.home24bank.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release