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Joseph Zanco
Chief Financial Officer
(337) 237-1960
investor@home24bank.com
Home Bank News
Aug 23, 2017

Home Bancorp, Inc. (NASDAQ: HBCP) ("Home Bancorp"), the holding company of the 109-year-old Home Bank, N.A. ("Home Bank"), and St. Martin Bancshares, Inc. ("St. Martin Bancshares"), the holding...

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Home Bancorp Announces First Quarter 2017 Results And Increases Its Quarterly Dividend

LAFAYETTE, La., April 25, 2017 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq:  "HBCP") (the "Company"), the parent company for Home Bank, N.A. (the "Bank") (www.home24bank.com), reported net income of $5.0 million for the first quarter of 2017, an increase of $724,000, or 17%, compared to the fourth quarter of 2016 and an increase of $1.7 million, or 49%, compared to the first quarter of 2016. The first quarter of 2017 includes a gain on the sale of a banking center totaling $247,000 (net of taxes).  The first quarter of 2016 includes merger expenses totaling $398,000 (net of taxes) related to the acquisition of Louisiana Bancorp, Inc. ("Louisiana Bancorp").  Excluding the banking center gain and merger-related expenses, net income for the first quarter 2017 totaled $4.8 million, an increase of $477,000, or 11%, compared to the fourth quarter of 2016 and an increase of $1.0 million, or 27%, compared to the first quarter of 2016.

Diluted earnings per share were $0.69 for the first quarter of 2017, an increase of $0.09, or 15%, compared to the fourth quarter of 2016 and an increase of $0.22, or 47%, compared to the first quarter of 2016.  Excluding the banking center gain and merger-related expenses, first quarter 2017 diluted earnings per share increased $0.06, or 10%, compared to the fourth quarter of 2016 and increased $0.13, or 25%, compared to the first quarter of 2016.    

"Although economic growth has been muted in both of the states in which we operate," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, "we have continued to improve our profitability by enhancing the efficiency and effectiveness of many areas of the Company." 

The Company also announced that its Board of Directors increased its quarterly cash dividend by $0.01 to $0.14 per share payable on May 19, 2017, to shareholders of record as of May 8, 2017.

Loans and Credit Quality

Loans totaled $1.2 billion at March 31, 2017, a decrease of $905,000 from December 31, 2016, and an increase of $8.9 million from March 31, 2016.  During the first quarter of 2017, commercial real estate loans grew $16.9 million.  This growth was offset by decreases in most other loan types.    

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










March 31,


December 31,


Increase/(Decrease)


(dollars in thousands)


2017


2016


Amount

Percent


Real estate loans:









     One- to four-family first mortgage

$

339,917

$

341,883

$

(1,966)

(1)

%

     Home equity loans and lines


86,993


88,821


(1,828)

(2)


     Commercial real estate


444,403


427,515


16,888

4


    Construction and land


132,405


141,167


(8,762)

(6)


     Multi-family residential


48,251


46,369


1,882

4


        Total real estate loans


1,051,969


1,045,755


6,214

1


Other loans:









     Commercial and industrial


133,840


139,810


(5,970)

(4)


     Consumer


41,119


42,268


(1,149)

(3)


        Total other loans


174,959


182,078


(7,119)

(4)


        Total loans

$

1,226,928

$

1,227,833

$

(905)

-

%

Nonperforming assets ("NPAs"), excluding purchased credit impaired  loans,  totaled $16.2 million at March 31, 2017, a decrease of $438,000, or 3%, compared to December 31, 2016 and an increase of $6.7 million, or 70%, compared to March 31, 2016.    The ratio of total NPAs to total assets was 1.02% at March 31, 2017, compared to 1.07% at December 31, 2016 and 0.62% at March 31, 2016.    

The Company recorded net loan recoveries of $100,000 during the first quarter of 2017, compared to net loan charge-offs of $182,000 in the fourth quarter of 2016.  There were virtually no net loan charge-offs in the first quarter of 2016.  The Company's provision for loan losses for the first quarter of 2017 was $307,000, compared to $500,000 for the fourth quarter of 2016 and $850,000 for the first quarter of 2016. 

The ratio of the allowance for loan losses to total loans was 1.05% at March 31, 2017, compared to 1.02% and 0.85% at December 31, 2016 and March 31, 2016, respectively.  Excluding acquired loans, the ratio of the allowance for loan losses to total loans was 1.38% at March 31, 2017 and December 31, 2016, compared to 1.20% March 31, 2016.   

Direct Energy Exposure

The outstanding balance of direct loans to borrowers in the energy sector totaled $33.2 million, or 3% of total outstanding loans, at March 31, 2017, compared to $34.0 million at December 31, 2016.  We also had unfunded loan commitments to customers in the energy sector amounting to $5.7 million at March 31, 2017, compared to $6.7 million at December 31, 2016.    At March 31, 2017, loans constituting 95% of the balance of our direct energy-related loans were performing in accordance with their original loan agreements. The remaining 5%, or $1.8 million, had been restructured and were paying in accordance with the restructured terms as of March 31, 2017.  The Company holds no shared national credits.

The allowance for loan losses attributable to direct energy-related loans totaled 3.34% of the outstanding balance of energy-related loans at March 31, 2017, compared to 3.35% at December 31, 2016. 

Investment Securities Portfolio

The Company's investment securities portfolio totaled $205.5 million at March 31, 2017, an increase of $8.4 million, or 4%, from December 31, 2016, and an increase of $13.1 million, or 7%, from March 31, 2016. 

At March 31, 2017, the Company had a net unrealized gain position on its investment securities portfolio of $123,000, compared to net unrealized gains of $18,000 and $2.7 million at December 31, 2016 and March 31, 2016, respectively.  The Company's investment securities portfolio had a modified duration of 3.5 years at March 31, 2017, compared to 3.6 and 3.1 years at December 31, 2016 and March 31, 2016, respectively.  

Deposits

Total deposits were $1.3 billion at March 31, 2017, an increase of $24.1 million, or 2%, from December 31, 2016, and an increase of $28.4 million, or 2%, from March 31, 2016. 

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










March 31,


December 31,


Increase / (Decrease)


(dollars in thousands)


2017


2016


Amount

Percent


Demand deposit

$

297,101

$

296,519

$

582

-

%

Savings


112,104


109,414


2,690

2


Money market


258,434


264,784


(6,350)

(2)


NOW


323,161


305,092


18,069

6


Certificates of deposit


281,346


272,263


9,083

3


        Total deposits

$

1,272,146

$

1,248,072

$

24,074

2

%










Net Interest Income

Net interest income for the first quarter of 2017 totaled $16.0 million, an increase of $367,000, or 2%, compared to the fourth quarter of 2016, and an increase of $247,000, or 2%, compared to the first quarter of 2016. The increase in net interest income in the first quarter of 2017 compared to the fourth quarter of 2016 was due primarily to a $285,000 increase in accretion income on acquired loans and collections of interest and fees on loans previously on non-accrual status (up $142,000).  The increase in net interest income in the first quarter of 2017 compared to the first quarter of 2016 was due primarily to a $343,000 increase in accretion income on acquired loans.

The Company's net interest margin was 4.42% for the first quarter of 2017, 12 basis points higher than the fourth quarter of 2016 and two basis points higher than the first quarter of 2016.The increase in the net interest margin in the first quarter of 2017 compared to the fourth quarter of 2016 was due primarily to higher average loan yields.  The increase in the net interest margin in the first quarter of 2017 compared to the first quarter of 2016 was due primarily to changes in our interest-earning assets mix and higher average loan yields.

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.  Taxable equivalent ("TE") yields on investment securities are calculated using a marginal tax rate of 35%.




For the Three Months Ended



March 31, 2017



December 31, 2016



March 31, 2016


(dollars in thousands)


Average
Balance

Average
Yield/Rate



Average
Balance

Average
Yield/Rate



Average
Balance

Average
Yield/Rate


Interest-earning assets:













Loans receivable













   Originated loans

$

900,852

5.17

%

$

881,047

4.97

%

$

813,220

5.12

%

   Acquired loans


329,555

5.99



344,826

5.56



412,357

5.35


        Total loan receivable


1,230,407

5.29



1,225,873

5.13



1,225,577

5.20


Investment securities (TE)


200,457

2.23



186,112

2.06



188,549

2.26


Other interest-earning assets


24,932

1.49



27,118

1.18



15,949

1.50


Total interest-earning assets


1,455,796

4.81



1,439,103

4.66



1,430,075

4.77















Interest-bearing liabilities:













Deposits:













Savings, checking, and money market


684,872

0.25



674,438

0.24



678,682

0.24


Certificates of deposit


276,908

0.85



265,614

0.80



273,757

0.78


Total interest-bearing deposits


961,780

0.42



940,052

0.40



952,439

0.39


FHLB advances


118,308

1.36



121,325

1.26



125,991

1.25


Total interest-bearing liabilities

$

1,080,088

0.52


$

1,061,377

0.50


$

1,078,430

0.49















Net interest spread (TE)



4.29

%



4.16

%



4.28

%

Net interest margin (TE)



4.42

%



4.30

%



4.40

%


















Noninterest Income

Noninterest income for the first quarter of 2017 totaled $2.8 million, an increase of $198,000, or 8%, compared to the fourth quarter of 2016 and an increase of $259,000, or 10%, compared to the first quarter of 2016.  The increase in noninterest income for the comparative periods resulted primarily from a gain of $380,000 on the sale of a banking center during the first quarter of 2017.  Excluding the gain on the banking center, noninterest income totaled $2.4 million, a decrease of $182,000, or 7%, compared to the fourth quarter of 2016 and a decrease of $121,000, or 5%, compared to the first quarter of 2016.  Noninterest income in the first quarter of 2017 compared to the fourth quarter of 2016 also was impacted by lower gains on the sale of mortgage loans (down $276,000), which was partially offset by an increase in other income (up $100,000 resulting primarily from recoveries on acquired charged off loans).  The difference in noninterest income in the first quarter of 2017 compared to the first quarter of 2016 also reflects lower service fees and charges (down $99,000) and other income (down $65,000), which were partially offset by an increase in bank card fees (up $82,000).

Noninterest Expense

Noninterest expense for the first quarter of 2017 totaled $11.0 million, a decrease of $927,000, or 8%, compared to the fourth quarter of 2016 and a decrease of $1.3 million, or 11%, compared to the first quarter of 2016. Noninterest expense for the first quarter of 2016 includes $613,000 of merger expenses related to the acquisition of Louisiana Bancorp. 

The decrease in noninterest expense in the first quarter of 2017 compared to the fourth quarter of 2016 resulted primarily from lower other expenses (down $382,000 resulting primarily from reduced deposit and debit card fraud), reduced foreclosed asset expenses (down $245,000 resulting from higher net gains on the sale of foreclosed assets), and lower marketing and advertising expenses (down $187,000).    

Excluding merger-related expenses, the decrease in noninterest expense for the first quarter of 2017 compared to the first quarter of 2016 resulted primarily from reduced compensation and benefits expenses (down $373,000) and expenses on foreclosed assets (down $177,000).

Non-GAAP Reconciliation 












For the Three Months Ended


(dollars in thousands, except earnings per share data)


March 31,

2017



December 31,

2016



March 31,

2016


Reported noninterest expense

$

11,031


$

11,957


$

12,341


Less: Merger-related expenses


-



-



613


Non-GAAP noninterest expense

$

11,031


$

11,957


$

11,728












Reported noninterest income

$

2,826


$

2,628


$

2,567


Less: Gain on sale of banking center


380



-



-


Non-GAAP noninterest income

$

2,446


$

2,628


$

2,567












Reported net income

$

5,006


$

4,282


$

3,350


Less: Gain on sale of banking center, net of tax


247



-



-


Add: Merger-related expenses, net tax


-



-



398


Non-GAAP net income

$

4,759


$

4,282


$

3,748












Diluted EPS

$

0.69


$

0.60


$

0.47


Less:  Gain on sale of banking center


0.03



-



-


Add: Merger-related expenses


-



-



0.06


Non-GAAP diluted EPS

$

0.66


$

0.60


$

0.53












Reported net income

$

5,006


$

4,282


$

3,350


Add: Amortization CDI, net tax


121



126



138


Non-GAAP tangible income

$

5,127


$

4,408


$

3,488












Total Assets

$

1,583,497


$

1,556,732


$

1,544,121


Less: Intangibles


12,577



12,762



15,119


Non-GAAP tangible assets

$

1,570,920


$

1,543,970


$

1,529,002












Total shareholders' equity

$

184,720


$

179,843


$

169,164


Less: Intangibles


12,577



12,762



15,119


Non-GAAP tangible shareholders' equity

$

172,143


$

167,081


$

154,045


 

Common equity ratio


11.67

%


11.55

%


10.96

%

Less: Intangibles


0.71



0.73



0.89


Non-GAAP tangible common equity ratio


10.96

%


10.82

%


10.07

%











Return on average equity


10.95

%


9.58

%


7.97

%

Add: Intangibles


1.10



1.04



1.16


Non-GAAP return on tangible common equity


12.05

%


10.62

%


9.13

%











Book value per share

$

25.05


$

24.47


$

23.31


Less: Intangibles


1.70



1.74



2.08


Non-GAAP tangible book value per share

$

23.35


$

22.73


$

21.23












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 acquired loans, intangible assets, impact of the gain on the sale of a banking center and the impact of merger-related expenses.  Management believes the presentation of this non-GAAP financial information provides useful information that is helpful to a full understanding of the Company's financial position and core operating results. This non-GAAP financial information should not be viewed as a substitute for financial information determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP financial information presented by other companies. 

This news release contains certain forward‑looking statements. Forward‑looking 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."

Forward‑looking 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 forward‑looking statements.  Home Bancorp's Annual Report on Form 10-K for the year ended December 31, 2016, 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. Forward‑looking statements speak only as of the date they are made.  We do not undertake to update forward‑looking statements to reflect circumstances or events that occur after the date the forward‑looking statements are made or to reflect the occurrence of unanticipated events.

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF FINANCIAL CONDITION




















March 31,


March 31,


%



December 31,


2017


2016


Change



2016

Assets









Cash and cash equivalents

$     52,378,725


$     17,960,269


192

%


$     29,314,741

Interest-bearing deposits in banks

1,639,000


4,653,585


(65)



1,884,000

Investment securities available for sale, at fair value

192,188,925


178,533,171


8



183,729,857

Investment securities held to maturity

13,283,010


13,845,761


(4)



13,365,479

Mortgage loans held for sale

5,292,439


11,504,158


(54)



4,156,186

Loans, net of unearned income

1,226,927,674


1,218,059,238


1



1,227,833,309

Allowance for loan losses

(12,917,650)


(10,397,231)


24



(12,510,708)

     Total loans, net of allowance for loan losses

1,214,010,024


1,207,662,007


1



1,215,322,601

Office properties and equipment, net

39,233,248


42,190,686


(7)



39,566,639

Cash surrender value of bank-owned life insurance

20,268,269


19,787,613


2



20,149,553

Accrued interest receivable and other assets

45,203,380


47,983,954


(6)



49,242,977

Total Assets

$ 1,583,497,020


$ 1,544,121,204


3



$ 1,556,732,033



















Liabilities









Deposits

$ 1,272,146,338


$ 1,243,698,838


2

%


$ 1,248,072,453

Federal Home Loan Bank advances

118,183,717


113,010,613


5



118,533,173

Accrued interest payable and other liabilities

8,447,269


18,247,985


(54)



10,283,383

Total Liabilities

1,398,777,324


1,374,957,436


2



1,376,889,009










Shareholders' Equity









Common stock

73,737


72,568


2

%


73,502

Additional paid-in capital

80,092,853


77,389,045


4



79,425,604

Common stock acquired by benefit plans

(4,221,293)


(4,620,078)


(9)



(4,315,223)

Retained earnings 

108,694,266


94,542,265


15



104,647,375

Accumulated other comprehensive income 

80,133


1,779,968


(96)



11,766

Total Shareholders' Equity

184,719,696


169,163,768


9



179,843,024

Total Liabilities and Shareholders' Equity

$ 1,583,497,020


$ 1,544,121,204


3



$ 1,556,732,033

 

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME
























 For The Three Months Ended





 For the Three 





 March 31,  


%



Months Ended 


%



2017

2016


Change



December 31, 2016 


Change


Interest Income











Loans, including fees

$16,243,268

$16,018,095


1

%


$           15,971,349


2

%

Investment securities

1,028,634

971,084


6



870,456


18


Other investments and deposits

91,365

59,382


54



80,775


13


Total interest income

17,363,267

17,048,561


2



16,922,580


3













Interest Expense











Deposits

992,441

931,853


7

%


937,483


6

%

Federal Home Loan Bank advances

401,623

394,227


2



383,194


5


Total interest expense

1,394,064

1,326,080


5



1,320,677


6


Net interest income

15,969,203

15,722,481


2



15,601,903


2


Provision for loan losses

306,832

850,000


(64)



500,000


(39)


Net interest income after provision for loan losses

15,662,371

14,872,481


5



15,101,903


4













Noninterest Income











Service fees and charges

936,928

1,036,410


(10)

%


977,049


(4)

%

Bank card fees

683,514

601,201


14



666,769


3


Gain on sale of loans, net

288,063

300,673


(4)



564,434


(49)


Income from bank-owned life insurance

118,716

120,712


(2)



121,355


(2)


Gain (loss) on the sale of assets, net

355,540

7


-



(45,057)


889


Other income

443,045

508,275


(13)



343,145


29


Total noninterest income

2,825,806

2,567,278


10



2,627,695


8













Noninterest Expense











Compensation and benefits

6,775,449

7,201,036


(6)

%


6,788,326


-

%

Occupancy

1,219,882

1,309,597


(7)



1,315,614


(7)


Marketing and advertising

226,596

257,664


(12)



413,437


(45)


Data processing and communication

1,075,207

1,543,715


(30)



1,142,859


(6)


Professional fees

231,371

294,207


(21)



185,616


25


Forms, printing and supplies

135,300

177,292


(24)



135,701


-


Franchise and shares tax

201,967

219,773


(8)



161,456


25


Regulatory fees

322,838

322,691


-



345,818


(7)


Foreclosed assets, net

(58,776)

118,377


(150)



186,049


(132)


Other expenses

900,880

896,836


1



1,282,621


(30)


Total noninterest expense

11,030,714

12,341,188


(11)



11,957,497


(8)


Income before income tax expense

7,457,463

5,098,571


46



5,772,101


29


Income tax expense

2,451,762

1,748,893


40



1,490,047


65


Net income

$  5,005,701

$  3,349,678


49



$             4,282,054


17













Earnings per share - basic

$          0.72

$          0.49


47

%


$                     0.62


16

%

Earnings per share - diluted

$          0.69

$          0.47


47



$                     0.60


15













Cash dividends declared per common share

$          0.13

$          0.09


44

%


$                     0.12


8

%

 

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























 For The Three Months Ended 





 For The Three  






March 31, 


%



 Months Ended 



%



2017


2016


 Change 



 December 31, 2016 



 Change 


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$     17,363


$     17,049


2

%


$                  16,923



3

%

Total interest expense

1,394


1,326


5



1,321



6


Net interest income

15,969


15,723


2



15,602



2


Provision for loan losses

307


850


(64)



500



(39)


Total noninterest income

2,826


2,567


10



2,628



8


Total noninterest expense

11,031


12,341


(11)



11,957



(8)


Income tax expense

2,452


1,749


40



1,491



65


Net income

$       5,005


$       3,350


49



$                   4,282



17















AVERAGE BALANCE SHEET DATA













Total assets

$1,561,282


$1,544,910


1

%


$             1,545,831



1

%

Total interest-earning assets

1,455,796


1,430,075


2



1,439,103



1


Total loans

1,230,407


1,225,577


-



1,225,873



-


Total interest-bearing deposits

961,780


952,439


1



940,052



2


Total interest-bearing liabilities

1,080,088


1,078,430


-



1,061,377



2


Total deposits

1,253,094


1,237,871


1



1,235,471



1


Total shareholders' equity

182,868


168,039


9



178,808



2















SELECTED RATIOS (1)













Return on average assets

1.28

%

0.87

%

47

%


1.11

%


15

%

Return on average equity

10.95


7.97


37



9.58



14


Return on average tangible common equity(2) 

12.05


9.13


32



10.62



14


Common equity ratio

11.67


10.96


7



11.55



1


Tangible common equity ratio(3)

10.96


10.07


9



10.82



1


Efficiency ratio (4)

58.69


67.48


(13)



65.59



(11)


Average equity to average assets

11.71


10.88


8



11.57



1


Tier 1 leverage capital ratio(5) 

10.15


8.97


13



9.94



2


Total risk-based capital ratio(5) 

14.54


12.79


14



13.96



4


Net interest margin (6)

4.42


4.40


1



4.30



3




























PER SHARE DATA













Basic earnings per share

$         0.72


$         0.49


47

%


$                     0.62



16

%

Diluted earnings per share

0.69


0.47


47



0.60



15


Book value at period end

25.05


23.31


8



24.47



2


Tangible book value at period end

23.35


21.23


10



22.73



3















PER SHARE DATA













Shares outstanding at period end

7,373,641


7,256,671


2

%


7,350,102



-

%

Weighted average shares outstanding













   Basic

6,936,301


6,784,478


2

%


6,897,135



1

%

   Diluted

7,207,263


7,052,369


2



7,165,278



1




_____________________________________

(1)

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

(2)

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.

(3)

Tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets.

(4)

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

(5)

Estimated capital ratios are end of period ratios for the Bank only.

(6)

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 35%.

 

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION












































March 31, 2017


December 31, 2016


March 31, 2016


Acquired


Originated


Total



Acquired


Originated


Total



Acquired


Originated


Total


(dollars in thousands)










































CREDIT QUALITY(1) 





















Nonaccrual loans

$1,524


$13,072


$14,596



$1,463


$12,290


$13,753



$1,495


$5,635


$  7,130


Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-


Total nonperforming loans

1,524


13,072


14,596



1,463


12,290


13,753



1,495


5,635


7,130


Foreclosed assets

890


722


1,612



2,171


722


2,893



2,199


180


2,379


Total nonperforming assets

2,414


13,794


16,208



3,634


13,012


16,646



3,694


5,815


9,509


Performing troubled debt restructurings

3,314


1,056


4,370



3,380


1,270


4,650



1,855


783


2,638


Total nonperforming assets and troubled debt restructurings

$5,728


$14,850


$20,578



$7,014


$14,282


$21,296



$5,549


$6,598


$12,147























Nonperforming assets to total assets





1.02

%






1.07

%






0.62

%

Nonperforming loans to total assets 





0.92







0.88







0.46


Nonperforming loans to total loans 





1.19







1.12







0.59


Allowance for loan losses to nonperforming assets





79.70







75.16







109.33


Allowance for loan losses to nonperforming loans





88.50







90.97







145.82


Allowance for loan losses to total loans





1.05







1.02







0.85























Year-to-date loan charge-offs





$       18







$     446







$     106


Year-to-date loan recoveries





118







209







106


Year-to-date net loan charge-offs 





$    (100)







$     237







$         -


Annualized YTD net loan charge-offs to total loans





-

%






0.02

%






-

%



________________________________________

(1)

Nonperforming loans consist of nonaccruing loans and accruing loans 90 days or more past due. Purchased credit impaired loans accounted for in pools with an accretable yield are considered to be performing and are excluded from nonperforming loans. 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.

 

 

SOURCE Home Bancorp, Inc.

For further information: John W. Bordelon, President and CEO (337) 237-1960