Contact Us
Joseph Zanco
Chief Financial Officer
(337) 237-1960
investor@home24bank.com
Home Bank News
Jul 24, 2018

Home Bancorp, Inc. (Nasdaq: "HBCP") (the "Company"), the parent company for Home Bank, N.A. (the "Bank") (www.home24bank.com), reported record net income of $7.8 million for the second quarter of...

Business News
Loading...
Home Bancorp Announces First Quarter 2018 Results And Increases Quarterly Dividend By 13%

LAFAYETTE, La., April 24, 2018 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: "HBCP") (the "Company"), the parent company for Home Bank, N.A. (the "Bank") (www.home24bank.com), reported record net income of $7.5 million for the first quarter of 2018, an increase of $4.2 million, or 130%, compared to the fourth quarter of 2017 and an increase of $2.5 million, or 49%, compared to the first quarter of 2017.  The first quarter of 2018 includes merger expenses totaling $694,000, net of taxes, related to the acquisition of St. Martin Bancshares, Inc. ("SMB"), compared to $610,000, net of taxes, for the fourth quarter of 2017.  The fourth quarter of 2017 also includes a deferred tax asset ("DTA") re-measurement charge of $2.7 million related to the Tax Cuts and Jobs Act of 2017 (the "Tax Act"). 

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

Diluted earnings per share were a record $0.81 for the first quarter of 2018, an increase of $0.40, or 98%, compared to the fourth quarter of 2017, and an increase of $0.12, or 17%, compared to the first quarter of 2017.

"After four consecutive record net income years, I'm pleased to report a strong start to 2018," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, "Our record net income quarter was driven by the St. Martin Bancshares acquisition and the positive impact of tax reform."

"We are tremendously thankful to the many employees who have done an outstanding job bringing Home Bank and St. Martin Bank together," added Mr. Bordelon. "We are, indeed, stronger together."

The Company also announced that its Board of Directors increased the quarterly cash dividend on shares of its common stock to $0.17 per share payable on May 18, 2018, to shareholders of record as of May 7, 2018.

Loans and Credit Quality

Loans totaled $1.6 billion at March 31, 2018, a decrease of $16.5 million, or 1%, from December 31, 2017.  During the first quarter, growth in organic loans of 10% (on an annualized basis) was offset by declines in acquired loan balances.  The Company acquired $439.9 million of loans from SMB at the acquisition date of December 6, 2017.        

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)


2018


2017


Amount


Percent


Real estate loans:










     One- to four-family first mortgage

$

466,193

$

477,211

$

(11,018)


(2)

%

     Home equity loans and lines


91,820


94,445


(2,625)


(3)


     Commercial real estate


605,393


611,358


(5,965)


(1)


     Construction and land


180,548


177,263


3,285


2


     Multi-family residential


52,725


50,978


1,747


3


        Total real estate loans


1,396,679


1,411,255


(14,576)


(1)


Other loans:










     Commercial and industrial


182,211


185,284


(3,073)


(2)


     Consumer


62,380


61,256


1,124


2


        Total other loans


244,591


246,540


(1,949)


(1)


        Total loans

$

1,641,270

$

1,657,795

$

(16,525)


(1)

%











Nonperforming assets ("NPAs"), excluding purchased credit impaired loans, totaled $27.9 million at March 31, 2018, an increase of $2.1 million, or 8%, compared to December 31, 2017.  The ratio of NPAs to total assets was 1.26% at March 31, 2018, compared to 1.16% at December 31, 2017.  The increase in NPAs during the quarter was primarily related to two loan relationships totaling $2.2 million.

The Company recorded net loan charge-offs of $1.5 million during the first quarter of 2018, compared to net loan recoveries of $184,000 for the fourth quarter of 2017.  The increase in net loan charge-offs resulted primarily from further deterioration in two loan relationships identified as problem credits in prior periods.  The Company's provision for loan losses for the first quarter of 2018 was $964,000, compared to $1.2 million for the fourth quarter of 2017. 

The ratio of the allowance for loan losses to total loans was 0.87% at March 31, 2018, compared to 0.89% at December 31, 2017.  Excluding acquired loans, the ratio of the allowance for loan losses to total loans was 1.40% at March 31, 2018, compared to 1.52% at December 31, 2017.   

Direct Energy Exposure

The outstanding balance of direct loans to borrowers in the energy sector totaled $57.7 million, or 4% of total outstanding loans, at March 31, 2018, compared to $58.8 million at December 31, 2017.  Unfunded loan commitments to customers in the energy sector totaled $9.9 million at March 31, 2018, compared to $9.3 million at December 31, 2017.    At March 31, 2018, loans constituting 93% of the balance of our direct energy-related loans were performing in accordance with their original loan agreements. The Company holds no shared national credits.

The allowance for loan losses attributable to originated direct energy-related loans totaled 2.76% of the outstanding balance of energy-related loans at March 31, 2018, compared to 2.49% at December 31, 2017.

Deposits

Total deposits were $1.8 billion at March 31, 2018, a decrease of $27.0 million, or 1%, from December 31, 2017.  The Company acquired $533.5 million of deposits from SMB at the acquisition date.     

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)


2018


2017


Amount


Percent


Demand deposits

$

456,353

$

461,999

$

(5,646)


(1)

%

Savings


215,428


217,639


(2,211)


(1)


Money market


299,338


306,509


(7,171)


(2)


NOW


506,521


490,924


15,597


3


Certificates of deposit


361,565


389,156


(27,591)


(7)


        Total deposits

$

1,839,205

$

1,866,227

$

(27,022)


(1)

%

Net Interest Income

Net interest income for the first quarter of 2018 totaled $22.5 million, an increase of $2.5 million, or 12%, compared to the fourth quarter of 2017. The addition of SMB's earning assets for the full quarter accounted for the vast majority of the increase.    

The Company's net interest margin was 4.49% for the first quarter of 2018, 32 basis points lower than the fourth quarter of 2017. The decrease in the net interest margin was primarily due to $1.5 million less in accretion income recognized on the Britton & Koontz acquired loan portfolio during the fourth quarter of 2017 due to an acceleration in payoffs. 

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 21% in 2018 and 35% for 2017.



For the Three Months Ended



March 31, 2018



December 31, 2017


(dollars in thousands)


Average
Balance

Average
Yield/Rate



Average
Balance

Average
Yield/Rate


Interest-earning assets:









Loans receivable









   Originated loans

$

910,874

5.41

%

$

944,657

5.11

%

   Acquired loans


736,629

5.73



402,213

7.98


        Total loans receivable


1,647,503

5.55



1,346,870

5.97


Investment securities (TE)


259,827

2.38



229,723

2.34


Other interest-earning assets


103,338

1.68



70,863

1.66


Total interest-earning assets

$

2,010,668

4.94

%

$

1,647,456

5.28

%










Interest-bearing liabilities:









Deposits:









Savings, checking, and money market

$

1,010,980

0.41

%

$

819,720

0.41

%

Certificates of deposit


375,959

0.96



319,882

0.97


Total interest-bearing deposits


1,386,939

0.56



1,139,602

0.56


FHLB advances


71,194

1.78



67,892

1.89


Total interest-bearing liabilities

$

1,458,133

0.62

%

$

1,207,494

0.64

%










Net interest spread (TE)



4.32

%



4.64

%

Net interest margin (TE)



4.49

%



4.81

%

Noninterest Income

Noninterest income for the first quarter of 2018 totaled $3.5 million, an increase of $802,000, or 30%, compared to the fourth quarter of 2017.  The increase resulted primarily from additional service fees and charges and bank card fees due mostly to the increase in customer accounts as a result of the SMB acquisition.

Noninterest Expense

Noninterest expense for the first quarter of 2018 totaled $15.6 million, an increase of $2.8 million, or 22%, compared to the fourth quarter of 2017. The increase related primarily to the growth of the Company's employee base and higher occupancy and data processing costs due to the SMB acquisition.  Noninterest expense for the first quarter of 2018 and fourth quarter of 2017 includes $879,000 and $839,000, respectively, of merger expenses. 

Income Tax Expense

During the first quarter of 2018, the Company incurred income tax expense of $2.0 million, a decrease of $3.5 million, or 64%, compared to the fourth quarter of 2017.  The Company's effective tax rate was 21% during the first quarter of 2018, and 63% for the fourth quarter of 2017.   The lower effective tax rate recorded during the first quarter of 2018 was the result of the Tax Act.  The Tax Act reduced the federal corporate statutory tax rate from 35% to 21%.  The Company recorded a re-measurement charge on our DTA in the fourth quarter of 2017 totaling $2.7 million.

Non-GAAP Reconciliation 













For the Three Months Ended


(dollars in thousands, except  per share data)


March 31,
2018



December 31,
2017



March 31,
2017


Reported noninterest expense

$

15,590


$

12,755


$

11,031


Less: Merger-related expenses


879



839



-


Non-GAAP noninterest expense

$

14,711


$

11,916


$

11,031












Reported noninterest income

$

3,481


$

2,679


$

2,826


Less: Gain on sale of banking center


-



-



380


Non-GAAP noninterest income

$

3,481


$

2,679


$

2,446












Reported net income

$

7,464


$

3,242


$

5,006


Less: Gain on sale of banking center


-



-



247


Add: DTA re-measurement charge


-



2,721



-


Add: Merger-related expenses, net tax


694



610



-


Non-GAAP net income

$

8,158


$

6,573


$

4,759












Diluted EPS

$

0.81


$

0.41


$

0.69


Less: Gain on sale of banking center


-



-



0.03


Add: DTA re-measurement charge


-



0.35



-


Add: Merger-related expenses


0.07



0.08



-


Non-GAAP diluted EPS

$

0.88


$

0.84


$

0.66
































Reported net income

$

7,464


$

3,242


$

5,006


Add: CDI amortization, net tax


397



152



121


Non-GAAP tangible income

$

7,861


$

3,394


$

5,127












Total Assets

$

2,206,854


$

2,228,121


$

1,583,497


Less: Intangible assets


67,499



68,034



12,577


Non-GAAP tangible assets

$

2,139,355


$

2,160,087


$

1,570,920












Total shareholders' equity

$

283,089


$

277,874


$

184,720


Less: Intangible assets


67,499



68,031



12,577


Non-GAAP tangible shareholders' equity

$

215,590


$

209,837


$

172,143












Originated loans

$

963,146


$

941,922


$

899,500


Acquired loans


678,124



715,873



327,428


Total loans

$

1,641,270


$

1,657,795


$

1,226,928












Originated allowance for loan losses

$

13,488


$

14,303


$

12,417


Acquired allowance for loan losses


781



504



501


Total allowance for loan losses

$

14,269


$

14,807


$

12,918












Return on average assets


1.37

%


0.73

%


1.28

%

Less: Gain on sale of banking center


-



-



0.06


Add: DTA re-measurement charge


-



0.61



-


Add: Merger-related expenses, net tax


0.13



0.14



-


Adjusted return on average assets


1.50

%


1.48

%


1.22

%











Return on average equity


10.74

%


5.91

%


10.95

%

Less: Gain on sale of banking center


-



-



0.54


Add: DTA re-measurement charge


-



4.96



-


Add: Merger-related expenses, net tax


1.00



1.11



-


Adjusted return on average equity


11.74



11.98



10.41


Add: Average intangible assets


4.46



1.85



1.06


Adjusted return on average tangible common equity


16.20

%


13.83

%


11.47

%











Common equity ratio


12.83

%


12.47

%


11.67

%

Less: Intangible assets


2.75



2.76



0.71


Non-GAAP tangible common equity ratio


10.08

%


9.71

%


10.96

%











Return on average equity


10.74

%


5.91

%


10.95

%

Add: Intangible assets


4.15



1.07



1.10


Non-GAAP return on tangible common equity


14.89

%


6.98

%


12.05

%











Efficiency ratio


59.99

%


56.18

%


58.69

%

Less: Gain on sale of banking center


-



-



1.21


Less: Merger-related expenses


3.38



3.70



-


Adjusted efficiency ratio


56.61

%


52.48

%


59.90

%











Book value per share

$

30.09


$

29.57


$

25.05


Less: Intangible assets


7.18



7.24



1.70


Non-GAAP tangible book value per share

$

22.91


$

22.33


$

23.35












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, the impact of the Tax Cuts and Jobs Act of 2017, (loss)/gain on 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, 2017, 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,


December 31,


%



March 31,


2018


2017


Change



2017

Assets









Cash and cash equivalents

$    124,141,699


$    150,417,829


(18)

%


$     52,378,725

Interest-bearing deposits in banks

2,421,000


2,421,000


-



1,639,000

Investment securities available for sale, at fair value

263,169,977


234,993,436


12



192,188,925

Investment securities held to maturity

12,949,728


13,033,590


(1)



13,283,010

Mortgage loans held for sale

1,310,991


5,873,132


(78)



5,292,439

Loans, net of unearned income

1,641,270,174


1,657,794,751


(1)



1,226,927,674

Allowance for loan losses

(14,268,843)


(14,807,278)


(4)



(12,917,650)

     Total loans, net of allowance for loan losses

1,627,001,331


1,642,987,473


(1)



1,214,010,024

Office properties and equipment, net

45,203,029


45,604,752


(1)



39,233,248

Cash surrender value of bank-owned life insurance

29,064,532


28,903,913


1



20,268,269

Goodwill and core deposit intangibles

67,499,333


68,033,472





12,576,609

Accrued interest receivable and other assets

34,092,412


35,852,241


(5)



32,626,771

Total Assets

$ 2,206,854,032


$ 2,228,120,838


(1)



$ 1,583,497,020



















Liabilities









Deposits

$ 1,839,205,284


$ 1,866,227,328


(1)

%


$ 1,272,146,338

Federal Home Loan Bank advances

70,887,946


71,825,595


(1)



118,183,717

Accrued interest payable and other liabilities

13,671,575


12,197,189


12



8,447,269

Total Liabilities

1,923,764,805


1,950,250,112


(1)



1,398,777,324










Shareholders' Equity









Common stock

94,093


93,955


-

%


73,737

Additional paid-in capital

165,990,921


165,341,415


0



80,092,853

Common stock acquired by benefit plans

(3,828,482)


(3,922,413)


(2)



(4,221,293)

Retained earnings 

123,571,082


117,312,630


5



108,694,266

Accumulated other comprehensive income 

(2,738,387)


(954,861)


(187)



80,133

Total Shareholders' Equity

283,089,227


277,870,726


2



184,719,696

Total Liabilities and Shareholders' Equity

$ 2,206,854,032


$ 2,228,120,838


(1)



$ 1,583,497,020

 

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME














For The Three Months Ended 





 For the Three 


 March 



March 31,


%



 Months Ended 


%



2018


2017


Change



 December 31, 2017 


Change


Interest Income












Loans, including fees

$ 22,803,629


$ 16,243,268


40

%


$           20,420,278


12

%

Investment securities

1,495,060


1,028,634


45



1,253,125


19


Other investments and deposits

426,939


91,365


367



296,680


44


Total interest income

24,725,628


17,363,267


42



21,970,083


13














Interest Expense












Deposits

1,902,196


992,441


92

%


1,622,758


17

%

Federal Home Loan Bank advances

316,881


401,623


(21)



321,359


(1)


Total interest expense

2,219,077


1,394,064


59



1,944,117


14


Net interest income

22,506,551


15,969,203


41



20,025,966


12


Provision for loan losses

964,257


306,832


214



1,199,688


(20)


Net interest income after provision for loan losses

21,542,294


15,662,371


38



18,826,278


14














Noninterest Income












Service fees and charges

1,654,746


936,928


77

%


1,246,049


33

%

Bank card fees

1,098,551


683,514


61



835,224


32


Gain on sale of loans, net

207,037


288,063


(28)



277,190


(25)


Income from bank-owned life insurance

160,619


118,716


35



132,725


21


Gain (loss) on the closure or sale of assets, net

145,206


355,540


(59)



(14,942)


1,072


Other income

214,788


443,045


(52)



203,050


6


Total noninterest income

3,480,947


2,825,806


23



2,679,296


30














Noninterest Expense












Compensation and benefits

8,941,473


6,775,449


32

%


7,432,339


20

%

Occupancy

1,674,869


1,219,882


37



1,353,787


24


Marketing and advertising

259,555


226,596


15



205,895


26


Data processing and communication

1,679,046


1,075,207


56



1,252,871


34


Professional fees

286,054


231,371


24



770,800


(63)


Forms, printing and supplies

356,604


135,300


164



184,317


93


Franchise and shares tax

365,300


201,967


81



360,399


1


Regulatory fees

379,337


322,838


18



311,955


22


Foreclosed assets, net

102,998


(58,776)


275



(67,612)


252


Other expenses

1,544,725


900,880


72



950,289


63


Total noninterest expense

15,589,961


11,030,714


41



12,755,040


22


Income before income tax expense

9,433,280


7,457,463


27



8,750,534


8


Income tax expense

1,969,733


2,451,762


(20)



5,508,098


(64)


Net income

$  7,463,547


$  5,005,701


49



$             3,242,436


130














Earnings per share - basic

$          0.83


$          0.72


15

%


$                    0.43


93

%

Earnings per share - diluted

$          0.81


$          0.69


17



$                    0.41


98














Cash dividends declared per common share

$          0.15


$          0.13


15

%


$                    0.14


7

%

 

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION















 For The Three Months Ended 





 For The Three  






 March 31, 


%



 Months Ended 



%



2018


2017


 Change 



 December 31, 2017 



 Change 


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$       24,726


$       17,363


42

%


$                    21,970



13

%

Total interest expense

2,219


1,394


59



1,944



14


Net interest income

22,507


15,969


41



20,026



12


Provision for loan losses

964


307


214



1,200



(20)


Total noninterest income

3,481


2,826


23



2,679



30


Total noninterest expense

15,590


11,031


41



12,755



22


Income tax expense

1,970


2,451


(20)



5,508



(64)


Net income

$        7,464


$        5,006


49



$                      3,242



130















AVERAGE BALANCE SHEET DATA













Total assets

$  2,204,909


$  1,561,282


41

%


$                1,767,451



25

%

Total interest-earning assets

2,010,668


1,455,796


38



1,647,456



22


Total loans

1,647,503


1,230,407


34



1,346,870



22


Total interest-bearing deposits

1,386,939


961,780


44



1,139,602



22


Total interest-bearing liabilities

1,458,133


1,080,088


35



1,207,494



21


Total deposits

1,845,190


1,253,094


47



1,473,346



25


Total shareholders' equity

281,853


182,868


54



217,626



30















SELECTED RATIOS (1)













Return on average assets

1.37

%

1.28

%

7

%


0.73

%


88

%

Return on average equity

10.74


10.95


(2)



5.91



82


Common equity ratio

12.83


11.67


10



12.47



3


Efficiency ratio (2)

59.99


58.69


2



56.18



7


Average equity to average assets

12.78


11.71


9



12.31



4


Tier 1 leverage capital ratio(3) 

9.57


10.15


(6)



11.66



(18)


Total risk-based capital ratio(3) 

13.84


14.54


(5)



13.48



3


Net interest margin (4)

4.49


4.42


2



4.81



(7)















SELECTED NON-GAAP RATIOS (1)













Tangible common equity ratio(5)

10.08

%

10.96

%

(8)

%


9.71

%


4

%

Return on average tangible common equity(6) 

14.89


12.05


24



6.98



113


Adjusted return on average assets (7)

1.50


1.22


23



1.48



1


Adjusted return on average equity (7)

11.74


10.41


13



11.98



(2)


Adjusted efficiency ratio (7)

56.61


59.90


(6)



52.48



8


Adjusted return on average tangible common equity (7)

16.20


11.47


41



13.83



17















PER SHARE DATA













Earnings per share - basic

$          0.83


$          0.72


15



$                       0.43



93

%

Earnings per share - diluted

0.81


0.69


17



0.41



98


Adjusted earnings per share - diluted (8)

0.88


0.66


33



0.84



5


Book value at period end

30.09


25.05


20



29.57



2


Tangible book value at period end

22.91


23.35


(2)



22.33



3


Shares outstanding at period end

9,409,261


7,373,641


28

%


9,395,488



-


Weighted average shares outstanding













   Basic

9,011,535


6,936,301


30

%


7,547,051



19

%

   Diluted

9,269,178


7,207,263


29



7,832,187



18


___________________________________

(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)

Estimated 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.  Taxable equivalent yields are calculated using a marginal tax rate of 21% for 2018 and 35% for 2017.

(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.

(7)

Adjusted ratios eliminates merger-related expenses, impact of 2017 DTA re-measurement charge and the (loss) or gain on sale or closure of banking centers in the calculation. See "Non-GAAP Reconciliation" for additional information.

(8)

Adjusted diluted EPS eliminates merger-related expenses, impact of 2017 DTA re-measurement charge and the (loss) or gain on sale or closure of banking centers in the calculation. See "Non-GAAP Reconciliation" for additional information.

 

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION























March 31, 2018


December 31, 2017


March 31, 2017


Acquired


Originated


Total


Acquired


Originated


Total


Acquired


Originated


Total

(dollars in thousands)





















CREDIT QUALITY(1) 





















Nonaccrual loans (2) 

$ 3,906


$   23,407


$ 27,313



$ 2,654


$ 22,379


$ 25,033



$ 1,524


$ 13,072


$ 14,596


Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-


Total nonperforming loans

3,906


23,407


27,313



2,654


22,379


25,033



1,524


13,072


14,596


Foreclosed assets

436


107


543



584


144


728



890


722


1,612


Total nonperforming assets

4,342


23,514


27,856



3,238


22,523


25,761



2,414


13,794


16,208


Performing troubled debt restructurings

1,068


606


1,674



1,020


1,516


2,536



3,314


1,056


4,370


Total nonperforming assets and troubled debt restructurings

$ 5,410


$   24,120


$ 29,530



$ 4,258


$ 24,039


$ 28,297



$ 5,728


$ 14,850


$ 20,578























Nonperforming assets to total assets





1.26

%






1.16

%






1.02

%

Nonperforming loans to total assets 





1.24







1.12







0.92


Nonperforming loans to total loans 





1.66







1.51







1.19


Allowance for loan losses to nonperforming assets





51.22







57.48







79.70


Allowance for loan losses to nonperforming loans





52.24







59.15







88.50


Allowance for loan losses to total loans





0.87







0.89







1.05























Year-to-date loan charge-offs





$  1,526







$     463







$       18


Year-to-date loan recoveries





24







443







118


Year-to-date net loan charge-offs 





$  1,502







$       20







$   (100)


Annualized YTD net loan charge-offs to average loans





0.37

%






-

%






0.03

%

______________________________________

(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.

(2)

Nonaccrual loans include originated restructured loans placed on nonaccrual totaling $14.7 million, $7.5 million and $8.6 million at  March 31, 2018, December 31, 2017 and March 31, 2017, respectively. Acquired restructured loans placed on nonaccrual totaled $964,000, $353,000 and $359,000 at March 31, 2018, December 31, 2017 and March 31, 2017, respectively.

 

SOURCE Home Bancorp, Inc.

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