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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 Second Quarter 2017 Results And Declares Quarterly Dividend

LAFAYETTE, La., July 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 $4.5 million for the second quarter of 2017, a decrease of $520,000, or 10%, compared to the first quarter of 2017 and an increase of $469,000, or 12%, compared to the second quarter of 2016.

Home Bank Logo. (PRNewsFoto/Home Bancorp, Inc.) (PRNewsFoto/)

The second quarter of 2017 includes a write down of $292,000, net of taxes, taken upon the closing of a banking center, while the first quarter of 2017 and the second quarter of 2016 include gains on sales of banking centers, net of taxes, totaling $247,000 and $416,000, respectively.  The second quarter of 2016 includes merger expenses totaling $143,000 (net of taxes) related to the acquisition of Louisiana Bancorp, Inc. ("Louisiana Bancorp").  Excluding the banking center gains and loss and merger expenses, net income for the second quarter 2017 totaled $4.8 million, an increase of $19,000 compared to the first quarter of 2017 and an increase of $1.0 million, or 28%, compared to the second quarter of 2016.

Diluted earnings per share were $0.62 for the second quarter of 2017, a decrease of $0.07, or 10%, compared to the first quarter of 2017 and an increase of $0.05, or 9%, compared to the second quarter of 2016.  Excluding the banking center gains and loss and merger expenses, second quarter 2017 diluted earnings per share were unchanged compared to the first quarter of 2017 and increased $0.13, or 25%, compared to the second quarter of 2016.    

"The first half of 2017 has seen incremental improvement across our company," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, "Our team has worked diligently to deliver new customer technology, enhance risk management and further develop our staff."

"Our success results from the talented people we have on board," continued Bordelon.  "It is tremendously gratifying to see our team continue to drive for improvement day after day." 

The Company also announced that its Board of Directors declared a cash dividend of $0.14 per share payable on August 18, 2017, to shareholders of record as of August 7, 2017.

Loans and Credit Quality

Loans totaled $1.2 billion at June 30, 2017, a decrease of $8.2 million, or 1%, from March 31, 2017, and an increase of $432,000 from June 30, 2016.  During the second quarter of 2017, commercial real estate loans grew $10.2 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. 










June 30,


December 31,


Increase/(Decrease)


(dollars in thousands)


2017


2016


Amount

Percent


Real estate loans:









     One- to four-family first mortgage

$

337,714

$

341,883

$

(4,169)

(1)

%

     Home equity loans and lines


87,392


88,821


(1,429)

(2)


     Commercial real estate


454,554


427,515


27,039

6


     Construction and land


119,226


141,167


(21,941)

(16)


     Multi-family residential


48,476


46,369


2,107

5


        Total real estate loans


1,047,362


1,045,755


1,607

-


Other loans:









     Commercial and industrial


131,932


139,810


(7,878)

(6)


     Consumer


39,469


42,268


(2,799)

(7)


        Total other loans


171,401


182,078


(10,677)

(6)


        Total loans

$

1,218,763

$

1,227,833

$

(9,070)

(1)

%

Nonperforming assets ("NPAs"), excluding purchased credit impaired loans, totaled $16.5 million at June 30, 2017, an increase of $283,000, or 2%, compared to March 31, 2017 and a decrease of $2.9 million, or 15%, compared to June 30, 2016.   The ratio of total NPAs to total assets was 1.05% at June 30, 2017, compared to 1.02% at March 31, 2017 and 1.25% at June 30, 2016.    

The Company recorded net loan charge-offs of $58,000 during the second quarter of 2017, compared to net loan recoveries of $100,000 in the first quarter of 2017.  There were virtually no net loan charge-offs in the second quarter of 2016.  The Company's provision for loan losses for the second quarter of 2017 was $150,000, compared to $307,000 for the first quarter of 2017 and $1.1 million for the second quarter of 2016. 

The ratio of the allowance for loan losses to total loans was 1.07% at June 30, 2017, compared to 1.05% and 0.94% at March 31, 2017 and June 30, 2016, respectively.  Excluding acquired loans, the ratio of the allowance for loan losses to total loans was 1.40% at June 30, 2017, compared to 1.38% and 1.33% March 31, 2017 and June 30, 2016, respectively.   

Direct Energy Exposure

The outstanding balance of direct loans to borrowers in the energy sector totaled $33.4 million, or 3% of total outstanding loans, at June 30, 2017, compared to $33.2 million and $35.7 million at March 31, 2017 and June 30, 2016, respectively.  Unfunded loan commitments to customers in the energy sector totaled $5.0 million at June 30, 2017, compared to $5.7 million and $9.1 million at March 31, 2017 and June 30, 2016, respectively.    At June 30, 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 their restructured terms as of June 30, 2017.  The Company holds no shared national credits.

The allowance for loan losses attributable to direct energy-related loans totaled 3.39% of the outstanding balance of energy-related loans at June 30, 2017, compared to 3.34% and 3.29% at March 31, 2017 and June 30, 2016, respectively. 

Investment Securities Portfolio

The Company's investment securities portfolio totaled $210.6 million at June 30, 2017, an increase of $5.1 million, or 2%, from March 31, 2017, and an increase of $22.1 million, or 12%, from June 30, 2016. 

At June 30, 2017, the Company had a net unrealized gain position on its investment securities portfolio of $181,000, compared to net unrealized gains of $123,000 and $3.1 million at March 31, 2017 and June 30, 2016, respectively.  The Company's investment securities portfolio had a modified duration of 3.0 years at June 30, 2017, compared to 3.5 and 2.9 years at March 31, 2017 and June 30, 2016, respectively.  

Deposits

Total deposits were $1.3 billion at June 30, 2017, an increase of $37.1 million, or 3%, from March 31, 2017, and an increase of $84.2 million, or 7%, from June 30, 2016. 

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










June 30,


December 31,


Increase / (Decrease)


(dollars in thousands)


2017


2016


Amount

Percent


Demand deposits

$

306,674

$

296,519

$

10,155

3

%

Savings


109,018


109,414


(396)

-


Money market


255,776


264,784


(9,008)

(3)


NOW


338,166


305,092


33,074

11


Certificates of deposit


299,603


272,263


27,340

10


        Total deposits

$

1,309,237

$

1,248,072

$

61,165

5

%










Net Interest Income

Net interest income for the second quarter of 2017 totaled $15.9 million, a nominal decrease of $72,000 compared to the first quarter of 2017, and an increase of $345,000, or 2%, compared to the second quarter of 2016. The increase in net interest income in the second quarter of 2017 compared to the second quarter of 2016 was due primarily to a $273,000 increase in accretion income on acquired loans and higher yields on investment securities.

The Company's net interest margin was 4.35% for the second quarter of 2017, seven basis points lower than the first quarter of 2017 and unchanged from the second quarter of 2016. The decrease in the net interest margin in the second quarter of 2017 compared to the first quarter of 2017 was primarily due to lower loan yields and higher funding costs resulting primarily from special promotions of higher yielding certificates of deposit offered during the quarter. 

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



June 30, 2017



March 31, 2017



June 30, 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

$

908,958

5.03

%

$

900,852

5.04

%

$

827,702

5.09

%

   Acquired loans


313,367

5.93



329,555

5.99



397,460

5.27


        Total loans receivable


1,222,325

5.26



1,230,407

5.29



1,225,162

5.15


Investment securities (TE)


205,576

2.33



200,457

2.23



188,085

2.21


Other interest-earning assets


32,743

1.43



24,932

1.49



18,943

1.43


Total interest-earning assets


1,460,644

4.76



1,455,796

4.81



1,432,190

4.71















Interest-bearing liabilities:













Deposits:













Savings, checking, and money market


695,828

0.28



684,872

0.25



670,019

0.23


Certificates of deposit


290,032

0.92



276,908

0.85



270,147

0.79


Total interest-bearing deposits


985,860

0.47



961,780

0.42



940,166

0.39


FHLB advances


84,823

1.66



118,308

1.36



129,424

1.22


Total interest-bearing liabilities

$

1,070,683

0.56


$

1,080,088

0.52


$

1,069,590

0.49















Net interest spread (TE)



4.20

%



4.29

%



4.22

%

Net interest margin (TE)



4.35

%



4.42

%



4.35

%


















Noninterest Income

Noninterest income for the second quarter of 2017 totaled $2.2 million, a decrease of $662,000, or 23%, compared to the first quarter of 2017 and a decrease of $1.3 million, or 37%, compared to the second quarter of 2016.  The comparative periods include a $449,000  write down of a banking center in Vicksburg, Mississippi, that was closed during the second quarter of 2017 and gains on the sales of banking centers of $380,000 and $641,000 in the first quarter of 2017 and second quarter of 2016, respectively.  Excluding the banking center loss and gains, noninterest income totaled $2.6 million, an increase of $167,000, or 7%, compared to the first quarter of 2017 and a decrease of $194,000, or 7%, compared to the second quarter of 2016. 

Noninterest income for the second quarter of 2017 compared to the first quarter of 2017 also reflected higher bankcard fees (up $83,000), service fees and charges (up $54,000) and gains on the sale of mortgage loans (up $39,000), which were partially offset with lower other income (down $25,000).  Compared to the second quarter of 2016, noninterest income in the second quarter of 2017 reflected lower gains on the sale of mortgage loans (down $159,000) and other income (down $104,000), which were partially offset with higher bankcard fees (up $90,000).

Noninterest Expense

Noninterest expense for the second quarter of 2017 totaled $11.1 million, a nominal increase of $20,000 compared to the first quarter of 2017 and a decrease of $805,000, or 7%, compared to the second quarter of 2016. Noninterest expense for the second quarter of 2016 includes $214,000 of merger expenses related to the acquisition of Louisiana Bancorp. 

The increase in noninterest expense in the second quarter of 2017 compared to the first quarter of 2017 resulted primarily from higher compensation and benefits (up $117,000) and marketing and advertising expenses (up $61,000), which were partially offset with lower other expenses (down $116,000) and  reduced foreclosed asset expenses (down $42,000).    

Excluding merger expenses, the decrease in noninterest expense for the second quarter of 2017 compared to the second quarter of 2016 resulted primarily from reduced expenses on foreclosed assets (down $409,000), other expenses (down $93,000) and data processing and communications (down $63,000).

Non-GAAP Reconciliation 












For the Three Months Ended


(dollars in thousands, except earnings per share data)


June 30,

2017



March 31,

2017



June 30,

2016


Reported noninterest expense

$

11,051


$

11,031


$

11,856


Less: Merger-related expenses


-



-



214


Non-GAAP noninterest expense

$

11,051


$

11,031


$

11,642












Reported noninterest income

$

2,164


$

2,826


$

3,448


Less: (Loss) gain on closure or sale of banking center(s)


(449)



380



641


Non-GAAP noninterest income

$

2,613


$

2,446


$

2,807












Reported net income

$

4,486


$

5,006


$

4,016


Less: (Loss) gain on closure or sale of banking center(s), net of tax


(292)



247



416


Add: Merger-related expenses, net tax


-



-



143


Non-GAAP net income

$

4,778


$

4,759


$

3,743












Diluted EPS

$

0.62


$

0.69


$

0.57


Less:  (Loss) gain on closure or sale of banking center(s)


(0.04)



0.03



0.06


Add: Merger-related expenses


-



-



0.02


Non-GAAP diluted EPS

$

0.66


$

0.66


$

0.53












Reported net income

$

4,486


$

5,006


$

4,016


Add: Amortization CDI, net tax


113



121



130


Non-GAAP tangible income

$

4,599


$

5,127


$

4,146












Total Assets

$

1,574,181


$

1,583,497


$

1,545,049


Less: Intangibles


12,403



12,577



13,542


Non-GAAP tangible assets

$

1,561,778


$

1,570,920


$

1,531,507












Total shareholders' equity

$

188,939


$

184,720


$

173,567


Less: Intangibles


12,403



12,577



13,542


Non-GAAP tangible shareholders' equity

$

176,536


$

172,143


$

160,025


Common equity ratio


12.00

%


11.67

%


11.23

%

Less: Intangibles


0.70



0.71



0.78


Non-GAAP tangible common equity ratio


11.30

%


10.96

%


10.45

%











Return on average equity


9.56

%


10.95

%


9.35

%

Add: Intangibles


0.94



1.10



1.23


Non-GAAP return on tangible common equity


10.50

%


12.05

%


10.58

%











Book value per share

$

25.53


$

25.05


$

23.75


Less: Intangibles


1.68



1.70



1.85


Non-GAAP tangible book value per share

$

23.85


$

23.35


$

21.90












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 (loss) gain on the closure or sale of banking centers 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






















June 30,


June 30,


%



March 31,

December 31,


2017


2016


Change



2017

2016

Assets










Cash and cash equivalents

$     51,702,408


$     26,853,272


93

%


$     52,378,725

$     29,314,741

Interest-bearing deposits in banks

1,391,000


2,430,585


(43)



1,639,000

1,884,000

Investment securities available for sale, at fair value

197,376,270


174,949,772


13



192,188,925

183,729,857

Investment securities held to maturity

13,201,149


13,530,264


(2)



13,283,010

13,365,479

Mortgage loans held for sale

4,297,920


11,616,730


(63)



5,292,439

4,156,186

Loans, net of unearned income

1,218,762,771


1,218,330,307


-



1,226,927,674

1,227,833,309

Allowance for loan losses

(13,009,695)


(11,446,976)


14



(12,917,650)

(12,510,708)

     Total loans, net of allowance for loan losses

1,205,753,076


1,206,883,331


-



1,214,010,024

1,215,322,601

Office properties and equipment, net

38,532,534


39,422,603


(2)



39,233,248

39,566,639

Cash surrender value of bank-owned life insurance

20,389,918


19,867,467


3



20,268,269

20,149,553

Accrued interest receivable and other assets

41,536,229


49,494,863


(16)



45,203,380

49,242,977

Total Assets

$ 1,574,180,504


$ 1,545,048,887


2



$ 1,583,497,020

$ 1,556,732,033





















Liabilities










Deposits

$ 1,309,237,497


$ 1,225,003,785


7

%


$ 1,272,146,338

$ 1,248,072,453

Federal Home Loan Bank advances

67,493,057


135,079,007


(50)



118,183,717

118,533,173

Accrued interest payable and other liabilities

8,511,085


11,398,668


(25)



8,447,269

10,283,383

Total Liabilities

1,385,241,639


1,371,481,460


1



1,398,777,324

1,376,889,009











Shareholders' Equity










Common stock

74,015


73,068


1

%


73,737

73,502

Additional paid-in capital

80,765,704


78,346,879


3



80,092,853

79,425,604

Common stock acquired by benefit plans

(4,129,035)


(4,523,041)


(9)



(4,221,293)

(4,315,223)

Retained earnings 

112,110,694


97,659,115


15



108,694,266

104,647,375

Accumulated other comprehensive income 

117,487


2,011,406


(94)



80,133

11,766

Total Shareholders' Equity

188,938,865


173,567,427


9



184,719,696

179,843,024

Total Liabilities and Shareholders' Equity

$ 1,574,180,504


$ 1,545,048,887


2



$ 1,583,497,020

$ 1,556,732,033

 

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME


























 For The Three Months Ended 





 For the Six Months Ended 





 June 30, 

%



 June 30, 


%



2017

2016


Change



2017

2016


Change


Interest Income












Loans, including fees

$ 16,167,363

$ 15,852,931


2

%


$ 32,410,631

$ 31,871,027


2

%

Investment securities

1,114,880

945,836


18



2,143,513

1,916,920


12


Other investments and deposits

116,526

67,207


73



207,891

126,589


64


Total interest income

17,398,769

16,865,974


3



34,762,035

33,914,536


2














Interest Expense












Deposits

1,149,489

919,152


25

%


2,141,929

1,851,004


16

%

Federal Home Loan Bank advances

351,829

394,185


(11)



753,454

788,412


(4)


Total interest expense

1,501,318

1,313,337


14



2,895,383

2,639,416


10


Net interest income

15,897,451

15,552,637


2



31,866,652

31,275,120


2


Provision for loan losses

150,000

1,050,000


(86)



456,832

1,900,000


(76)


Net interest income after provision for loan losses

15,747,451

14,502,637


9



31,409,820

29,375,120


7














Noninterest Income












Service fees and charges

990,432

1,001,856


(1)

%


1,927,361

2,038,266


(5)

%

Bank card fees

766,607

676,305


13



1,450,121

1,277,506


14


Gain on sale of loans, net

327,549

486,866


(33)



615,612

787,539


(22)


Income from bank-owned life insurance

121,649

119,967


1



240,365

240,679


-


(Loss) gain on the closure or sale of assets, net

(460,029)

640,573


-



(104,489)

640,580


(116)


Other income

417,739

521,946


(20)



860,784

1,030,221


(16)


Total noninterest income

2,163,947

3,447,513


(37)



4,989,754

6,014,791


(17)














Noninterest Expense












Compensation and benefits

6,892,412

6,920,908


-

%


13,667,861

14,121,944


(3)

%

Occupancy

1,272,246

1,322,342


(4)



2,492,129

2,631,939


(5)


Marketing and advertising

287,807

198,351


45



514,403

456,015


13


Data processing and communication

1,073,303

1,147,318


(7)



2,148,510

2,691,033


(20)


Professional fees

181,517

259,344


(30)



412,887

553,551


(25)


Forms, printing and supplies

155,144

173,165


(10)



290,443

350,457


(17)


Franchise and shares tax

191,816

219,773


(13)



393,782

439,546


(10)


Regulatory fees

312,437

329,024


(5)



635,275

651,715


(3)


Foreclosed assets, net

(101,096)

307,425


(133)



(159,871)

425,802


(138)


Other expenses

785,290

977,858


(20)



1,686,170

1,874,695


(10)


Total noninterest expense

11,050,876

11,855,508


(7)



22,081,589

24,196,697


(9)


Income before income tax expense

6,860,522

6,094,642


13



14,317,985

11,193,214


28


Income tax expense

2,374,725

2,078,148


14



4,826,487

3,827,041


26


Net income

$  4,485,797

$  4,016,494


12



$  9,491,498

$  7,366,173


29














Earnings per share - basic

$          0.64

$          0.59


9

%


$          1.36

$          1.08


26

%

Earnings per share - diluted

$          0.62

$          0.57


9



$          1.31

$          1.04


26














Cash dividends declared per common share

$          0.14

$          0.10


40

%


$          0.27

$          0.19


42

%

 

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























 For The Three Months Ended 





 For The Three  






 June 30, 


%



 Months Ended 



%



2017


2016


 Change 



 March 31, 2017 



 Change 


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$      17,399


$      16,866


3

%


$             17,363



-

%

Total interest expense

1,501


1,313


14



1,394



8


Net interest income

15,898


15,553


2



15,969



-


Provision for loan losses

150


1,050


(86)



307



(51)


Total noninterest income

2,164


3,448


(37)



2,826



(23)


Total noninterest expense

11,051


11,856


(7)



11,031



-


Income tax expense

2,375


2,079


14



2,452



(3)


Net income

$        4,486


$        4,016


12



$              5,005



(10)















AVERAGE BALANCE SHEET DATA













Total assets

$  1,562,410


$  1,544,840


1

%


$        1,561,282



-

%

Total interest-earning assets

1,460,644


1,432,190


2



1,455,796



-


Total loans

1,222,325


1,225,162


-



1,230,407



(1)


Total interest-bearing deposits

985,861


940,165


5



961,780



3


Total interest-bearing liabilities

1,070,683


1,069,590


-



1,080,088



(1)


Total deposits

1,284,445


1,230,839


4



1,253,094



3


Total shareholders' equity

187,631


171,757


9



182,868



3















SELECTED RATIOS (1)













Return on average assets

1.15

%

1.04

%

11

%


1.28

%


(10)

%

Return on average equity

9.56


9.35


2



10.95



(13)


Return on average tangible common equity(2) 

10.50


10.58


(1)



12.05



(13)


Common equity ratio

12.00


11.23


7



11.67



3


Tangible common equity ratio(3)

11.30


10.45


8



10.96



3


Efficiency ratio (4)

61.19


62.40


(2)



58.69



4


Average equity to average assets

12.01


11.12


8



11.71



3


Tier 1 leverage capital ratio(5) 

10.45


9.34


12



10.15



3


Total risk-based capital ratio(5) 

14.98


13.24


13



14.54



3


Net interest margin (6)

4.35


4.35


-



4.42



(2)




























PER SHARE DATA













Basic earnings per share

$         0.64


$         0.59


9

%


$                0.72



(11)

%

Diluted earnings per share

0.62


0.57


9



0.69



(10)


Book value at period end

25.53


23.75


8



25.05



2


Tangible book value at period end

23.85


21.90


9



23.35



2















PER SHARE DATA













Shares outstanding at period end

7,401,396


7,306,728


1

%


7,373,641



-

%

Weighted average shares outstanding













   Basic

6,972,395


6,816,409


2

%


6,936,301



1

%

   Diluted

7,234,259


7,088,125


2



7,207,263



-















(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. See "Non-GAAP Reconciliation" on page 5 for additional information.

(3)

Tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets. See "Non-GAAP Reconciliation" on page 5 for additional information.

(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












































June 30, 2017


March 31, 2017


June 30, 2016


Acquired

Originated

Total


Acquired

Originated

Total


Acquired

Originated

Total

(dollars in thousands)





















CREDIT QUALITY(1) 





















Nonaccrual loans

$ 1,618


$ 14,286


$ 15,904



$ 1,524


$ 13,072


$ 14,596



$ 1,861


$ 15,215


$ 17,076


Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-


Total nonperforming loans

1,618


14,286


15,904



1,524


13,072


14,596



1,861


15,215


17,076


Foreclosed assets

500


87


587



890


722


1,612



2,106


180


2,286


Total nonperforming assets

2,118


14,373


16,491



2,414


13,794


16,208



3,967


15,395


19,362


Performing troubled debt restructurings

3,063


1,084


4,147



3,314


1,056


4,370



3,474


988


4,462


Total nonperforming assets and troubled 





















debt restructurings

$ 5,181


$ 15,457


$ 20,638



$ 5,728


$ 14,850


$ 20,578



$ 7,441


$ 16,383


$ 23,824























Nonperforming assets to total assets





1.05

%






1.02

%






1.25

%

Nonperforming loans to total assets 





1.01







0.92







1.11


Nonperforming loans to total loans 





1.30







1.19







1.40


Allowance for loan losses to nonperforming assets





78.89







79.70







59.12


Allowance for loan losses to nonperforming loans





81.80







88.50







67.04


Allowance for loan losses to total loans





1.07







1.05







0.94























Year-to-date loan charge-offs





$       91







$       18







$     186


Year-to-date loan recoveries





133







118







186


Year-to-date net loan charge-offs 





$     (42)







$   (100)







$         -


Annualized YTD net loan charge-offs to total loans





-

%






-

%






-

%
































































(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