Home Bancorp Reports 2016 First Quarter Results, Increases Its Quarterly Dividend And Announces New Share Repurchase Plan

LAFAYETTE, La., April 26, 2016 /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 $3.3 million for the first quarter of 2016, a decrease of $613,000, or 15%, compared to the fourth quarter of 2015 and an increase of $502,000, or 18%, compared to the first quarter of 2015.  The first quarter of 2016 and fourth quarter of 2015 include merger-related expenses, net of taxes, totaling $398,000 and $407,000, respectively, related to the acquisition of Louisiana Bancorp, Inc. ("Louisiana Bancorp").  Excluding merger-related expenses, net income for the first quarter of 2016 totaled $3.7 million, a decrease of 14% compared to the fourth quarter of 2015 and an increase of 32% compared to the first quarter of 2015. 

Home Bank Logo

Diluted earnings per share were $0.47 for the first quarter of 2016, a decrease of $0.09, or 16%, from the fourth quarter of 2015 and an increase of $0.06, or 15%, compared to the first quarter of 2015.  Excluding merger-related expenses, diluted earnings per share for the first quarter of 2016 were $0.53, a decrease of 15% from the fourth quarter of 2015 and an increase of 29% compared to the first quarter of 2015. 

"Organic loan growth was healthy during the quarter at 10% on an annualized basis," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "Expected paydowns on acquired loans offset organic growth, resulting in a 1% overall decrease in loans."

"We continue to work very closely with our customers in the energy sector to help them manage through the current cycle," stated Bordelon.  "Many of those customers have weathered such cycles in the past.  Although their resilience is not surprising given their liquidity and lower leverage positions going into the downturn, it is nonetheless admirable."

The Company announced that its Board of Directors increased its cash dividend $0.01 to $0.10 per share payable on May 20, 2016, to shareholders of record as of May 9, 2016. The Company also announced the commencement of a new share repurchase program ("April 2016 Program").  Under the April 2016 Program, the Company may purchase up to 365,000 shares, or approximately 5%, of the Company's outstanding common stock.

Loans and Credit Quality

Loans totaled $1.2 billion at March 31, 2016, a decrease of $6.3 million, or 1%, from December 31, 2015, and an increase of $296.0 million, or 32%, from March 31, 2015. Growth in organic loans of 10% (on an annualized basis) was offset by declines in acquired loans.  Loan decreases during the first quarter of 2016 related primarily to multi-family residential (down $6.4 million), residential mortgages (down $3.0 million) and consumer loans (down $1.5 million).  Commercial real estate and home equity loans increased by $2.8 million and $2.0 million, respectively, during the quarter.   

The vast majority of the increase in loans outstanding at March 31, 2016 compared to March 31, 2015 resulted from the acquisition of Louisiana Bancorp, Inc. (the former holding company of Bank of New Orleans) in September 2015.  The Company acquired $281.6 million of loans from Louisiana Bancorp.   

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)


2016


2015


Amount

Percent


Real estate loans:









     One- to four-family first mortgage

$

388,290

$

391,266

$

(2,976)

(1)

%

     Home equity loans and lines


96,056


94,060


1,996

2


     Commercial real estate


408,166


405,379


2,787

1


     Construction and land


117,247


116,775


472

-


     Multi-family residential


37,427


43,863


(6,436)

(15)


        Total real estate loans


1,047,186


1,051,343


(4,157)

-


Other loans:









     Commercial and industrial


124,463


125,108


(645)

(1)


     Consumer


46,410


47,915


(1,505)

(3)


        Total other loans


170,873


173,023


(2,150)

(1)


        Total loans

$

1,218,059

$

1,224,366

$

(6,307)

(1)

%

 

Nonperforming assets ("NPAs") totaled $13.7 million at March 31, 2016, a decrease of $2.2 million, or 14%, compared to December 31, 2015 and a decrease of $8.6 million, or 39%, compared to March 31, 2015.  Of the $13.7 million in total NPAs at March 31, 2016, an aggregate of $7.9 million related to our acquisitions of Statewide Bank, GS Financial Corp, Britton & Koontz Capital Corporation and Louisiana Bancorp.   The ratio of total NPAs to total assets was 0.89% at March 31, 2016, compared to 1.03% at December 31, 2015 and 1.81% at March 31, 2015.  Excluding acquired assets, the ratio of total NPAs to total assets was 0.51% at March 31, 2016, compared to 0.51% at December 31, 2015 and 0.44% at March 31, 2015. 

The Company recorded virtually no net loan charge-offs during the first quarter of 2016, compared to net loan charge-offs of $54,000 and $26,000 in the fourth and first quarters of 2015, respectively. 

The Company's provision for loan losses for the first quarter of 2016 was $850,000, compared to $670,000 for the fourth quarter of 2015 and $538,000 for the first quarter of 2015.  Of the $850,000 in provision for the first quarter of 2016, $461,000 was associated with one energy-related borrower.

The ratio of the allowance for loan losses to total loans was 0.85% at March 31, 2016, compared to 0.78% and 0.90% at December 31, 2015 and March 31, 2015, respectively.  Excluding acquired loans, the ratio of the allowance for loan losses to total loans was 1.20% at March 31, 2016, compared to 1.15% and 1.07% at December 31, 2015 and March 31, 2015, respectively.   

Energy Exposure

The balance of loans to companies in the energy sector totaled $36.8 million, or 3.0% of outstanding loans, at March 31, 2016.  We also had unfunded loan commitments to energy companies amounting to $8.9 million at such date.    At March 31, 2016, 92% of the balance of our energy-related loans were performing in accordance with their original loan agreements.  Of the remaining 8%, $2.1 million has been restructured and are paying in accordance with the restructured terms.  The Company holds no shared national credits.

The following table illustrates the composition of the Company's energy-related loans at March 31, 2016. 

(dollars in thousands)


Total

Percent


Real estate loans:





    Commercial real estate

$

16,027

44

%

    Construction and land


393

1


             Total real estate loans


16,420

45


    Commercial and industrial:





           Equipment


6,288

17


           Marine vessels          


6,066

16


           Accounts receivable                


5,050

14


           Unsecured


1,707

5


           Other


1,238

3


              Total commercial and industrial loans


20,349

55


                  Total energy-related loans

$

36,769

100

%






 

The allowance for loan losses to loans ratio directly attributable to energy loans totaled 3.08% at March 31, 2016.  Over the past 15 months, the Company has increased its overall allowance for loan losses to loans ratio on originated loans from 1.04% at December 31, 2014 to 1.20% at March 31, 2016 due primarily to the potential direct and indirect impact of low energy prices.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $192.4 million at March 31, 2016, an increase of $1.7 million, or 1%, from December 31, 2015, and an increase of $7.0 million, or 4%, from March 31, 2015.  At March 31, 2016, the Company had a net unrealized gain position on its investment securities portfolio of $2.7 million, compared to net unrealized gains of $1.3 million and $2.6 million at December 31, 2015 and March 31, 2015, respectively.  The Company's investment securities portfolio had a modified duration of 3.1 years at March 31, 2016, compared to 3.3 and 3.4 years at December 31, 2015 and March 31, 2015, respectively.  

Deposits

Total deposits were $1.2 billion at March 31, 2016, a decrease of $518,000 from December 31, 2015, and an increase of $217.1 million, or 21%, from March 31, 2015.  During the first quarter of 2016, core deposits (i.e., checking, savings and money market accounts) increased $4.9 million, or 1%, from December 31, 2015, and increased $161.7 million, or 20%, from March 31, 2015.  The Company acquired $208.7 million of deposits, including $118.1 million in core deposits, from Louisiana Bancorp at the acquisition date in September 2015.

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










March 31,


December 31,


Increase / (Decrease)


(dollars in thousands)


2016


2015


Amount

Percent


Demand deposit

$

292,411

$

296,617

$

(4,206)

(1)

%

Savings


111,265


109,393


1,872

2


Money market


275,290


293,637


(18,347)

(6)


NOW


293,327


267,707


25,620

10


Certificates of deposit


271,406


276,863


(5,457)

(2)


        Total deposits

$

1,243,699

$

1,244,217

$

(518)

-

%










 

Net Interest Income

Net interest income for the first quarter of 2016 totaled $15.7 million, which was virtually unchanged compared to the fourth quarter of 2015, and an increase of $3.2 million, or 26%, compared to the first quarter of 2015.  The addition of Louisiana Bancorp's earning assets accounted for the vast majority of the increase during the first quarter of 2016 compared to the first quarter of 2015. The Company's net interest margin was 4.40% for the first quarter of 2016, four basis points higher than the fourth quarter of 2015 and 11 basis points lower than the first quarter of 2015.  The slight increase in the net interest margin in the first quarter of 2016 was due primarily to changes in the mix of interest-earning assets.  The decrease in the net interest margin in the first quarter of 2016 compared to the first quarter of 2015 was primarily the impact of Louisiana Bancorp's interest-earning assets and interest-bearing liabilities.          

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, 2016



December 31, 2015



March 31, 2015


(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

$

813,220

5.12

%

$

784,656

5.10

%

$

727,162

5.18

%

   Acquired loans


412,357

5.35



431,588

5.38



191,947

6.23


        Total loan receivable


1,225,577

5.20



1,216,244

5.20



919,109

5.40


Investment securities (TE)


188,549

2.26



195,250

2.23



184,331

2.18


Other interest-earning assets


15,949

1.50



21,649

0.92



15,044

0.91


Total interest-earning assets


1,430,075

4.77



1,433,143

4.73



1,118,484

4.81















Interest-bearing liabilities:













Deposits:













Savings, checking, and money market


678,682

0.24



658,882

0.24



523,535

0.23


Certificates of deposit


273,757

0.78



285,473

0.77



219,066

0.73


Total interest-bearing deposits


952,439

0.39



944,355

0.40



742,601

0.37


Securities sold under repurchase agreements


-

0.00



-

0.00



20,295

0.37


FHLB advances


125,991

1.25



138,045

1.09



35,441

1.23


Total interest-bearing liabilities

$

1,078,430

0.49


$

1,082,400

0.49


$

798,337

0.41















Net interest spread (TE)



4.28

%



4.24

%



4.40

%

Net interest margin (TE)



4.40

%



4.36

%



4.51

%


















Noninterest Income

Noninterest income for the first quarter of 2016 totaled $2.6 million, an increase of $112,000, or 5%, compared to the fourth quarter of 2015 and an increase of $489,000, or 24%, compared to the first quarter of 2015.  The increase in noninterest income in the first quarter of 2016 compared to the fourth quarter of 2015 resulted primarily from an increase in other income (up $243,000 primarily from recoveries on acquired loans previously charged-off), which was partially offset by a decrease in gains on the sale of mortgage loans (down $108,000).

The increase in noninterest income in the first quarter of 2016 compared to the first quarter of 2015 resulted primarily from increases in other income (up $393,000 primarily from recoveries on acquired loans previously charged-off) and service fees and charges (up $144,000 due primarily to the Louisiana Bancorp acquisition and increased customer transactions), which were partially offset by a decrease in gains on the sale of mortgage loans (down $72,000).

Noninterest Expense

Noninterest expense for the first quarter of 2016 totaled $12.3 million, an increase of $788,000, or 7%, compared to the fourth quarter of 2015 and an increase of $2.6 million, or 27%, compared to the first quarter of 2015.  Noninterest expense for the first quarter of 2016 and fourth quarter of 2015 includes $613,000 and $563,000, respectively, of merger-related expenses related to the acquisition of Louisiana Bancorp.  Excluding merger-related expenses, noninterest expense for the first quarter of 2016 totaled $11.7 million, an increase of $738,000, or 7%, compared to the fourth quarter of 2015 and an increase of $2.0 million, or 21%, compared to the first quarter of 2015.

Excluding merger-related expenses, the increase in noninterest expense in the first quarter of 2016 compared to the fourth quarter of 2015 resulted primarily from higher compensation and benefits expense (up $498,000) and expenses on foreclosed assets (up $153,000).

Excluding merger-related expenses, the increase in noninterest expense in the first quarter of 2016 compared to the first quarter of 2015 relates primarily to the growth of the Company due to the addition of Louisiana Bancorp branches and employees. 

Non-GAAP Reconciliation










For the Three Months Ended

(dollars in thousands, except earnings per share data)


March 31,

2016


December 31,
2015


March 31,

2015

Reported noninterest expense

$

12,341

$

11,553

$

9,719

Less: Merger-related expenses


613


563


-

Non-GAAP noninterest expense

$

11,728

$

10,990

$

9,719








Reported net income

$

3,350

$

3,963

$

2,848

Add: Merger-related expenses (after tax)


398


407


-

Non-GAAP net income

$

3,748

$

4,370

$

2,848








Diluted EPS

$

0.47

$

0.56

$

0.41

Add: Merger-related expenses


0.06


0.06


-

Non-GAAP EPS

$

0.53

$

0.62

$

0.41








Total shareholders' equity

$

169,164

$

165,046

$

156,782

Less: Intangibles


15,119


15,304


4,083

Non-GAAP tangible shareholders' equity

$

154,045

$

149,742

$

152,699









 

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 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 are they 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, 2015, 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,


2016


2015


Change



2015

Assets









Cash and cash equivalents

$     17,960,269


$     30,175,858


(41)

%


$       24,797,599

Interest-bearing deposits in banks

4,653,585


5,526,000


(16)



5,143,585

Investment securities available for sale, at fair value

178,533,171


171,488,522


4



176,762,200

Investment securities held to maturity

13,845,761


13,912,512


(1)



13,926,861

Mortgage loans held for sale

11,504,158


5,622,509


105



5,651,250

Loans, net of unearned income

1,218,059,238


922,088,691


32



1,224,365,916

Allowance for loan losses

(10,397,231)


(8,271,676)


26



(9,547,487)

     Total loans, net of allowance for loan losses

1,207,662,007


913,817,015


32



1,214,818,429

Office properties and equipment, net

42,190,686


37,584,386


12



40,815,744

Cash surrender value of bank-owned life insurance

19,787,613


19,295,469


3



19,666,900

Accrued interest receivable and other assets

47,983,954


36,433,586


32



50,329,032

Total Assets

$ 1,544,121,204


$ 1,233,855,857


25



$  1,551,911,600



















Liabilities









Deposits

$ 1,243,698,838


$ 1,026,572,637


21

%


$  1,244,216,516

Securities sold under repurchase agreements

-


20,204,822


-



-

Federal Home Loan Bank advances

113,010,613


25,000,000


352



125,152,598

Accrued interest payable and other liabilities

18,247,985


5,296,062


245



17,496,132

Total Liabilities

1,374,957,436


1,077,073,521


28



1,386,865,246










Shareholders' Equity









Common stock

72,568


91,322


(21)

%


72,399

Additional paid-in capital

77,389,045


94,932,283


(19)



76,948,914

Treasury stock

-


(30,372,933)


-



-

Common stock acquired by benefit plans

(4,620,078)


(5,023,070)


(8)



(4,711,260)

Retained earnings 

94,542,265


95,449,153


(1)



91,864,543

Accumulated other comprehensive income 

1,779,968


1,705,581


4



871,758

Total Shareholders' Equity

169,163,768


156,782,336


8



165,046,354

Total Liabilities and Shareholders' Equity

$ 1,544,121,204


$ 1,233,855,857


25



$  1,551,911,600

 

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME
























 For The Three Months Ended 





 For the Three 





 March 31, 


%



 Months Ended 


%



2016

2015


Change



 December 31, 2015 


Change


Interest Income











Loans, including fees

$ 16,018,095

$     12,360,963


30

%


$             16,049,010


-

%

Investment securities

971,084

910,121


7



992,658


(2)


Other investments and deposits

59,382

33,752


76



49,961


19


Total interest income

17,048,561

13,304,836


28



17,091,629


-













Interest Expense











Deposits

931,853

684,979


36

%


957,044


(3)

%

Securities sold under repurchase agreements

-

18,429


(100)



-


-


Federal Home Loan Bank advances

394,227

109,306


261



378,127


4


Total interest expense

1,326,080

812,714


63



1,335,171


(1)


Net interest income

15,722,481

12,492,122


26



15,756,458


(0)


Provision for loan losses

850,000

538,487


58



669,604


27


Net interest income after provision for loan losses

14,872,481

11,953,635


24



15,086,854


(1)













Noninterest Income











Service fees and charges

1,036,410

892,118


16

%


1,063,195


(3)

%

Bank card fees

601,201

565,584


6



590,388


2


Gain on sale of loans, net

300,673

373,173


(19)



408,329


(26)


Income from bank-owned life insurance

120,712

132,359


(9)



123,380


(2)


Gain on the sale of securities, net

-

-


-



4,227


(100)


Other income

508,282

115,449


340



265,363


92


Total noninterest income

2,567,278

2,078,683


24



2,454,882


5













Noninterest Expense











Compensation and benefits

7,201,036

5,760,786


25

%


6,944,659


4

%

Occupancy

1,309,597

1,171,280


12



1,319,542


(1)


Marketing and advertising

257,664

110,328


134



134,162


92


Data processing and communication

1,543,715

943,332


64



1,211,982


27


Professional fees

294,207

238,175


24



393,598


(25)


Forms, printing and supplies

177,292

144,810


22



188,515


(6)


Franchise and shares tax

219,773

147,272


49



200,046


10


Regulatory fees

322,691

280,467


15



271,091


19


Foreclosed assets, net

118,377

235,782


(50)



(34,525)


443


Other expenses

896,836

686,853


31



923,833


(3)


Total noninterest expense

12,341,188

9,719,085


27



11,552,903


7


Income before income tax expense

5,098,571

4,313,233


18



5,988,833


(15)


Income tax expense

1,748,893

1,465,469


19



2,025,942


(14)


Net income

$  3,349,678

$       2,847,764


18



$              3,962,891


(15)













Earnings per share - basic

$          0.49

$              0.43


14

%


$                      0.59


(17)

%

Earnings per share - diluted

$          0.47

$              0.41


15



$                      0.56


(16)













Cash dividends declared per common share

$          0.09

$              0.07


29

%


$                      0.08


13

%

 



HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























 For The Three Months Ended 





 For The Three  






 March 31, 


%



 Months Ended 



%



2016


2015


 Change 



 December 31, 2015 



 Change 


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$     17,049


$     13,305


28

%


$                   17,092



-

%

Total interest expense

1,326


813


63



1,335



(1)


Net interest income

15,723


12,492


26



15,757



-


Provision for loan losses

850


538


58



670



27


Total noninterest income

2,567


2,079


24



2,455



5


Total noninterest expense

12,341


9,719


27



11,553



7


Income tax expense

1,749


1,466


19



2,027



(14)


Net income

$       3,350


$       2,848


18



$                    3,962



(15)















AVERAGE BALANCE SHEET DATA













Total assets

$ 1,544,910


$ 1,226,220


26

%


$              1,552,392



(1)

%

Total interest-earning assets

1,430,075


1,118,484


28



1,433,143



-


Totals loans

1,225,577


919,109


33



1,216,244



1


Total interest-bearing deposits

952,439


742,601


28



944,355



1


Total interest-bearing liabilities

1,078,430


798,337


35



1,082,400



-


Total deposits

1,237,871


1,011,658


22



1,232,109



1


Total shareholders' equity

168,039


156,061


8



164,091



2















SELECTED RATIOS (1)













Return on average assets

0.87

%

0.93

%

(7)

%


1.02

%


(15)

%

Return on average equity

7.97


7.30


9



9.66



(18)


Efficiency ratio (2)

67.48


66.70


1



63.44



6


Average equity to average assets

10.88


12.73


(15)



10.57



3


Tier 1 leverage capital ratio(3) 

8.97


11.96


(25)



8.74



3


Total risk-based capital ratio(3) 

12.79


17.74


(28)



12.43



3


Net interest margin (4)

4.40


4.51


(2)



4.36



1















PER SHARE DATA













Basic earnings per share

$        0.49


$        0.43


14

%


$                      0.59



(17)

%

Diluted earnings per share

0.47


0.41


15



0.56



(16)


Book value at period end

23.31


21.89


7



22.80



2


Tangible book value at period end

21.23


21.32


-



20.68



3















PER SHARE DATA













Shares outstanding at period end

7,256,671


7,163,649


1

%


7,239,821



-

%

Weighted average shares outstanding













   Basic

6,784,478


6,633,544


2

%


6,760,307



-

%

   Diluted

7,052,369


6,962,340


1



7,045,275



-















(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 35%.

 


HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION












































March 31, 2016


December 31, 2015


March 31, 2015


Acquired

Originated

Total


Acquired

Originated

Total


Acquired

Originated

Total

(dollars in thousands)





















CREDIT QUALITY(1)  (2)





















Nonaccrual loans

$ 5,714


$ 5,635


$ 11,349



$  7,162


$ 5,651


$ 12,813



$ 14,703


$ 2,752


$ 17,455


Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-


Total nonperforming loans

5,714


5,635


11,349



7,162


5,651


12,813



14,703


2,752


17,455


Foreclosed assets

2,199


180


2,379



3,012


116


3,128



2,991


1,886


4,877


Total nonperforming assets

7,913


5,815


13,728



10,174


5,767


15,941



17,694


4,638


22,332


Performing troubled debt restructurings

483


783


1,266



492


798


1,290



508


496


1,004


Total nonperforming assets and troubled debt restructurings

$ 8,396


$ 6,598


$ 14,994



$ 10,666


$ 6,565


$ 17,231



$ 18,202


$ 5,134


$ 23,336























Nonperforming assets to total assets





0.89

%






1.03

%






1.81

%

Nonperforming loans to total assets 





0.73







0.83







1.41


Nonperforming loans to total loans 





0.93







1.05







1.89


Allowance for loan losses to nonperforming assets





75.74







59.89







37.04


Allowance for loan losses to nonperforming loans





91.62







74.51







47.39


Allowance for loan losses to total loans





0.85







0.78







0.90























Year-to-date loan charge-offs





$     106







$     562







$       59


Year-to-date loan recoveries





106







279







33


Year-to-date net loan charge-offs 





$         -







$     283







$       26


Annualized YTD net loan charge-offs to total loans





-

%






0.02

%






0.01

%






















(1)  Nonperforming loans consist of nonaccruing loans and accruing loans 90 days or more past due.  Nonperforming assets consist of nonperforming loans and repossessed assets.  It is our policy to cease accruing interest on loans 90 days or more past due.  Repossessed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure.

(2)  Asset quality information includes certain assets covered under FDIC loss sharing agreements. Such assets covered by FDIC loss sharing agreements are included in "Acquired" assets.   

Logo - http://photos.prnewswire.com/prnh/20130429/MM04092LOGO

 

SOURCE Home Bancorp, Inc.

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