HOME BANCORP, INC. ANNOUNCES 2024 THIRD QUARTER RESULTS AND INCREASES QUARTERLY DIVIDEND BY 4%

(dollars in thousands)

9/30/2024

6/30/2024

Increase (Decrease)

Real estate loans:

One- to four-family first mortgage

$           502,784

$           446,255

$     56,529

13 %

Home equity loans and lines

80,935

70,617

10,318

15

Commercial real estate

1,143,152

1,228,757

(85,605)

(7)

Construction and land

329,787

328,938

849

—

Multi-family residential

169,443

126,922

42,521

34

Total real estate loans

2,226,101

2,201,489

24,612

1

Other loans:

Commercial and industrial

412,753

427,339

(14,586)

(3)

Consumer

29,432

32,518

(3,086)

(9)

Total other loans

442,185

459,857

(17,672)

(4)

Total loans

$        2,668,286

$        2,661,346

$       6,940

— %

September 30, 2024

(dollars in thousands)

Pass

Special
Mention

Substandard

Total

One- to four-family first mortgage

$         494,180

$                 859

$              7,745

$         502,784

Home equity loans and lines

80,729

—

206

80,935

Commercial real estate

1,125,331

—

17,821

1,143,152

Construction and land

323,751

308

5,728

329,787

Multi-family residential

168,513

—

930

169,443

Commercial and industrial

409,388

1,248

2,117

412,753

Consumer

29,302

—

130

29,432

Total

$      2,631,194

$              2,415

$           34,677

$      2,668,286

June 30, 2024

(dollars in thousands)

Pass

Special
Mention

Substandard

Total

One- to four-family first mortgage

$         437,753

$              1,417

$              7,085

$         446,255

Home equity loans and lines

70,394

—

223

70,617

Commercial real estate

1,207,421

3,469

17,867

1,228,757

Construction and land

324,729

310

3,899

328,938

Multi-family residential

125,689

65

1,168

126,922

Commercial and industrial

423,673

1,493

2,173

427,339

Consumer

32,273

—

245

32,518

Total

$      2,621,932

$              6,754

$           32,660

$      2,661,346

(dollars in thousands)

Amortized
Cost

Fair Value

Available for sale:

U.S. agency mortgage-backed

$       296,894

$       273,581

Collateralized mortgage obligations

77,351

75,438

Municipal bonds

53,568

47,770

U.S. government agency

18,139

17,490

Corporate bonds

6,984

6,444

Total available for sale

$       452,936

$       420,723

Held to maturity:

Municipal bonds

$           1,065

$           1,066

Total held to maturity

$           1,065

$           1,066

(dollars in thousands)

9/30/2024

6/30/2024

Increase (Decrease)

Demand deposits

$           740,854

$           746,504

$              (5,650)

Savings

215,815

218,307

(2,492)

(1)

Money market

452,456

427,406

25,050

6

NOW

644,061

615,809

28,252

5

Certificates of deposit

724,301

714,889

9,412

1

Total deposits

$        2,777,487

$        2,722,915

$             54,572

2 %

September 30, 2024

June 30, 2024

Individuals

52 %

53 %

Small businesses

38

37

Public funds

7

8

Broker

3

2

Total

100 %

100 %

Quarter Ended

9/30/2024

6/30/2024

(dollars in thousands)

Average
Balance

Interest

Average
Yield/ Rate

Average
Balance

Interest

Average
Yield/ Rate

Interest-earning assets:

Loans receivable

$  2,668,672

$       43,711

6.43 %

$  2,652,331

$       41,999

6.28 %

Investment securities ^(TE)

454,024

2,677

2.38

463,500

2,740

2.38

Other interest-earning assets

79,668

991

4.95

51,355

719

5.64

Total interest-earning assets

$  3,202,364

$       47,379

5.82 %

$  3,167,186

$       45,458

5.70 %

Interest-bearing liabilities:

Deposits:

Savings, checking, and money market

$  1,266,465

$          5,571

1.75 %

$  1,260,491

$          5,108

1.63 %

Certificates of deposit

722,717

8,337

4.59

704,690

8,026

4.58

Total interest-bearing deposits

1,989,182

13,908

2.78

1,965,181

13,134

2.69

Other borrowings

140,539

1,673

4.74

140,610

1,656

4.74

Subordinated debt

54,374

844

6.21

54,322

844

6.22

FHLB advances

56,743

572

3.99

46,499

431

3.69

Total interest-bearing liabilities

$  2,240,838

$       16,997

3.02 %

$  2,206,612

$       16,065

2.93 %

Noninterest-bearing deposits

$       741,387

$       751,776

Net interest spread ^(TE)

2.80 %

2.77 %

Net interest margin ^(TE)

3.71 %

3.66 %

September 30, 2024

Cash and cash equivalents

$                            135,877

Unencumbered investment securities, amortized cost

59,838

FHLB advance availability

1,147,306

Amounts available from unsecured lines of credit

55,000

Federal Reserve discount window availability

500

Total primary and secondary sources of available liquidity

$                         1,398,521

Quarter Ended

(dollars in thousands, except per share data)

9/30/2024

6/30/2024

9/30/2023

Reported net income

$           9,437

$            8,118

$           9,754

Add: Core deposit intangible amortization, net tax

259

261

307

Non-GAAP tangible income

$           9,696

$            8,379

$         10,061

Total assets

$    3,441,990

$     3,410,881

$    3,317,729

Less: Intangible assets

85,361

85,690

86,749

Non-GAAP tangible assets

$    3,356,629

$     3,325,191

$    3,230,980

Total shareholders' equity

$       393,453

$        375,830

$       345,332

Less: Intangible assets

85,361

85,690

86,749

Non-GAAP tangible shareholders' equity

$       308,092

$        290,140

$       258,583

Return on average equity

9.76 %

8.75 %

11.04 %

Add: Average intangible assets

3.14

2.98

4.11

Non-GAAP return on average tangible common equity

12.90 %

11.73 %

15.15 %

Common equity ratio

11.43 %

11.02 %

10.41 %

Less: Intangible assets

2.25

2.29

2.41

Non-GAAP tangible common equity ratio

9.18 %

8.73 %

8.00 %

Book value per share

$           48.75

$            46.51

$           42.30

Less: Intangible assets

10.58

10.61

10.63

Non-GAAP tangible book value per share

$           38.17

$            35.90

$           31.67

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

(dollars in thousands)

9/30/2024

6/30/2024

%
Change

9/30/2023

Assets

Cash and cash equivalents

$           135,877

$           113,462

20 %

$             84,520

Interest-bearing deposits in banks

—

—

—

99

Investment securities available for sale, at fair value

420,723

412,472

2

427,019

Investment securities held to maturity

1,065

1,065

—

1,065

Mortgage loans held for sale

242

—

—

467

Loans, net of unearned income

2,668,286

2,661,346

—

2,569,094

Allowance for loan losses

(32,278)

(32,212)

—

(31,123)

Total loans, net of allowance for loan losses

2,636,008

2,629,134

—

2,537,971

Office properties and equipment, net

42,659

43,089

(1)

42,402

Cash surrender value of bank-owned life insurance

48,139

47,858

1

47,054

Goodwill and core deposit intangibles

85,361

85,690

—

86,749

Accrued interest receivable and other assets

71,916

78,111

(8)

90,383

Total Assets

$        3,441,990

$        3,410,881

1 %

$        3,317,729

Liabilities

Deposits

$        2,777,487

$        2,722,915

2 %

$        2,597,484

Other Borrowings

140,539

140,539

—

5,539

Subordinated debt, net of issuance cost

54,402

54,348

—

54,187

Federal Home Loan Bank advances

38,410

83,506

(54)

283,826

Accrued interest payable and other liabilities

37,699

33,743

12

31,361

Total Liabilities

3,048,537

3,035,051

—

2,972,397

Shareholders' Equity

Common stock

81

81

—

81

Additional paid-in capital

166,743

165,918

—

165,149

Common stock acquired by benefit plans

(1,428)

(1,518)

6

(1,787)

Retained earnings

251,692

245,046

3

227,649

Accumulated other comprehensive loss

(23,635)

(33,697)

30

(45,760)

Total Shareholders' Equity

393,453

375,830

5

345,332

Total Liabilities and Shareholders' Equity

$        3,441,990

$        3,410,881

1 %

$        3,317,729

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME

(Unaudited)

Quarter Ended

(dollars in thousands, except per share data)

9/30/2024

6/30/2024

%
Change

9/30/2023

%
Change

Interest Income

Loans, including fees

$           43,711

$           41,999

4 %

$           38,490

14 %

Investment securities

2,677

2,740

(2)

2,939

(9)

Other investments and deposits

991

719

38

649

53

Total interest income

47,379

45,458

4

42,078

13

Interest Expense

Deposits

13,908

13,134

6 %

8,181

70 %

Other borrowings

1,673

1,656

1

53

3057

Subordinated debt expense

844

844

—

845

—

Federal Home Loan Bank advances

572

431

33

3,490

(84)

Total interest expense

16,997

16,065

6

12,569

35

Net interest income

30,382

29,393

3

29,509

3

Provision for loan losses

140

1,261

(89)

351

(60)

Net interest income after provision for loan losses

30,242

28,132

8

29,158

4

Noninterest Income

Service fees and charges

1,291

1,239

4 %

1,277

1 %

Bank card fees

1,613

1,751

(8)

1,903

(15)

Gain on sale of loans, net

195

126

55

687

(72)

Income from bank-owned life insurance

281

271

4

265

6

Loss on sale of assets, net

(10)

(2)

(400)

—

—

Other income

322

370

(13)

267

21

Total noninterest income

3,692

3,755

(2)

4,399

(16)

Noninterest Expense

Compensation and benefits

13,058

12,788

2 %

12,492

5 %

Occupancy

2,732

2,603

5

2,410

13

Marketing and advertising

382

485

(21)

638

(40)

Data processing and communication

2,646

2,555

4

2,496

6

Professional fees

450

581

(23)

402

12

Forms, printing and supplies

188

187

1

195

(4)

Franchise and shares tax

488

487

—

542

(10)

Regulatory fees

493

509

(3)

511

(4)

Foreclosed assets, net

62

89

(30)

99

(37)

Amortization of acquisition intangible

328

329

—

389

(16)

(Reversal) provision for credit losses on unfunded
commitments

—

(134)

100

—

—

Other expenses

1,431

1,329

8

1,164

23

Total noninterest expense

22,258

21,808

2

21,338

4

Income before income tax expense

11,676

10,079

16

12,219

(4)

Income tax expense

2,239

1,961

14

2,465

(9)

Net income

$              9,437

$              8,118

16 %

$              9,754

(3) %

Earnings per share - basic

$                1.19

$                1.02

17 %

$                1.22

(2) %

Earnings per share - diluted

$                1.18

$                1.02

16 %

$                1.22

(3) %

Cash dividends declared per common share

$                0.25

$                0.25

— %

$                0.25

— %

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION

(Unaudited)

Quarter Ended

(dollars in thousands, except per share data)

9/30/2024

6/30/2024

%
Change

9/30/2023

%
Change

EARNINGS DATA

Total interest income

$        47,379

$        45,458

4 %

$        42,078

13 %

Total interest expense

16,997

16,065

6

12,569

35

Net interest income

30,382

29,393

3

29,509

3

Provision for loan losses

140

1,261

(89)

351

(60)

Total noninterest income

3,692

3,755

(2)

4,399

(16)

Total noninterest expense

22,258

21,808

2

21,338

4

Income tax expense

2,239

1,961

14

2,465

(9)

Net income

$          9,437

$          8,118

16

$          9,754

(3)

AVERAGE BALANCE SHEET DATA

Total assets

$  3,405,083

$  3,367,207

1 %

$  3,281,093

4 %

Total interest-earning assets

3,202,364

3,167,186

1

3,087,452

4

Total loans

2,668,672

2,652,331

1

2,538,218

5

PPP loans

4,470

5,156

(13)

5,869

(24)

Total interest-bearing deposits

1,989,182

1,965,181

1

1,768,639

12

Total interest-bearing liabilities

2,240,838

2,206,612

2

2,101,424

7

Total deposits

2,730,568

2,716,957

1

2,568,173

6

Total shareholders' equity

384,518

373,139

3

350,436

10

PER SHARE DATA

Earnings per share - basic

$            1.19

$            1.02

17 %

$            1.22

(2) %

Earnings per share - diluted

1.18

1.02

16

1.22

(3)

Book value at period end

48.75

46.51

5

42.30

15

Tangible book value at period end

38.17

35.90

6

31.67

21

Shares outstanding at period end

8,070,539

8,081,344

—

8,163,655

(1)

Weighted average shares outstanding

Basic

7,921,582

7,972,445

(1) %

8,006,226

(1) %

Diluted

7,966,957

8,018,908

(1)

8,038,606

(1)

SELECTED RATIOS ⁽¹⁾

Return on average assets

1.10 %

0.97 %

13 %

1.18 %

(7) %

Return on average equity

9.76

8.75

12

11.04

(12)

Common equity ratio

11.43

11.02

4

10.41

10

Efficiency ratio ⁽²⁾

65.32

65.79

(1)

62.93

4

Average equity to average assets

11.29

11.08

2

10.68

6

Tier 1 leverage capital ratio ⁽³⁾

11.32

11.22

1

10.71

6

Total risk-based capital ratio ⁽³⁾

15.03

14.39

4

13.73

9

Net interest margin ⁽⁴⁾

3.71

3.66

1

3.75

(1)

SELECTED NON-GAAP RATIOS ⁽¹⁾

Tangible common equity ratio ⁽⁵⁾

9.18 %

8.73 %

5 %

8.00 %

15 %

Return on average tangible common equity ⁽⁶⁾

12.90

11.73

10

15.15

(15)

(1)

With the exception of end-of-period ratios, all ratios are based on average daily 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 preliminary end-of-period ratios for the Bank only and are subject to change.

(4)

Net interest margin represents net interest income as a percentage of average interest-earning assets. Taxable equivalent yields are calculated using a marginal tax rate of 21%.

(5)

Tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets. See "Non-GAAP Reconciliation" for additional information.

(6)

Return on average tangible common equity is net income plus amortization of core deposit intangible, net of taxes, divided by average common shareholders' equity less average intangible assets. See "Non-GAAP Reconciliation" for additional information.

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION

(Unaudited)

9/30/2024

6/30/2024

9/30/2023

(dollars in thousands)

Originated

Acquired

Total

Originated

Acquired

Total

Originated

Acquired

Total

CREDIT QUALITY ⁽¹⁾

Nonaccrual loans

$        13,741

$           4,314

$     18,055

$        12,594

$           4,223

$     16,817

$           8,001

$           3,905

$     11,906

Accruing loans 90 days or more past
due

34

—

34

1

—

1

43

—

43

Total nonperforming loans

13,775

4,314

18,089

12,595

4,223

16,818

8,044

3,905

11,949

Foreclosed assets and ORE

—

267

267

16

215

231

221

141

362

Total nonperforming assets

$        13,775

$           4,581

$     18,356

$        12,611

$           4,438

$     17,049

$           8,265

$           4,046

$     12,311

Nonperforming assets to total assets

0.53 %

0.50 %

0.37 %

Nonperforming loans to total assets

0.53

0.49

0.36

Nonperforming loans to total loans

0.68

0.63

0.47

(1)

It is our policy to cease accruing interest on loans 90 days or more past due, with certain limited exceptions. Nonperforming assets consist of nonperforming loans, foreclosed assets and surplus real estate (ORE).  Foreclosed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure. ORE consists of closed or unused bank buildings.

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION - CONTINUED

(Unaudited)

9/30/2024

6/30/2024

9/30/2023

Collectively
Evaluated

Individually
Evaluated

Total

Collectively
Evaluated

Individually
Evaluated

Total

Collectively
Evaluated

Individually
Evaluated

Total

ALLOWANCE FOR CREDIT
LOSSES

One- to four-family first mortgage

$           4,402

$                —

$       4,402

$           3,349

$                —

$       3,349

$           3,320

$                —

$       3,320

Home equity loans and lines

785

—

785

705

—

705

742

—

742

Commercial real estate

13,271

200

13,471

14,957

200

15,157

14,185

230

14,415

Construction and land

5,167

—

5,167

5,304

—

5,304

5,123

—

5,123

Multi-family residential

1,079

—

1,079

582

—

582

523

—

523

Commercial and industrial

6,635

42

6,677

6,320

58

6,378

6,161

105

6,266

Consumer

697

—

697

737

—

737

734

—

734

Total allowance for loan losses

$        32,036

$              242

$     32,278

$        31,954

$              258

$     32,212

$        30,788

$              335

$     31,123

Unfunded lending commitments⁽²⁾

2,460

—

2,460

2,460

—

2,460

2,454

—

2,454

Total allowance for credit losses

$        34,496

$              242

$     34,738

$        34,414

$              258

$     34,672

$        33,242

$              335

$     33,577

Allowance for loan losses to
nonperforming assets

175.84 %

188.94 %

252.81 %

Allowance for loan losses to
nonperforming loans

178.44 %

191.53 %

260.47 %

Allowance for loan losses to total
loans

1.21 %

1.21 %

1.21 %

Allowance for credit losses to total
loans

1.30 %

1.30 %

1.31 %

Year-to-date loan charge-offs

$       1,030

$          815

$          148

Year-to-date loan recoveries

229

88

296

Year-to-date net loan (charge-offs)
recoveries

$        (801)

$        (727)

$          148

Annualized YTD net loan (charge-
offs) recoveries to average loans

(0.04) %

(0.06) %

0.01 %

(2)

The allowance for unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition.