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Home Bancorp Reports 2016 Third Quarter Results And Increases Its Quarterly Dividend

LAFAYETTE, La., Oct. 25, 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 $4.4 million for the third quarter of 2016, an increase of $344,000, or 9%, compared to the second quarter of 2016 and an increase of $1.5 million, or 50%, compared to the third quarter of 2015.  The second quarter of 2016 and the third quarter of 2015 included merger-related expenses, net of taxes, totaling $143,000 and $527,000, respectively, related to the acquisition of Louisiana Bancorp, Inc. ("Louisiana Bancorp").  The second quarter of 2016 also included a gain on the sale of a banking center totaling $416,000, net of taxes.  Excluding merger-related expenses and the banking center gain from the respective prior periods, net income for the third quarter of 2016 increased 16% compared to the second quarter of 2016 and increased 27% compared to the third quarter of 2015. 

 Home Bank Logo.

Diluted earnings per share were $0.61 for the third quarter of 2016, an increase of $0.04, or 7%, from the second quarter of 2016 and an increase of $0.20, or 49%, compared to the third quarter of 2015.  Excluding merger-related expenses and the banking center gain from the respective prior periods, diluted earnings per share for the third quarter of 2016 increased 15% compared to the second quarter of 2016 and increased 24% compared to the third quarter of 2015. 

"Our Baton Rouge and Acadiana markets were impacted by historic floods in August," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "If you want to see an uplifting example of people pulling together to help one another, such an example has been on full display in South Louisiana over the past few months."

"Despite the floods, we posted record EPS during the quarter," added Bordelon, "Our employees are more committed than ever to demonstrating what makes us different. Our bankers have built trust across our markets because we're fully committed to doing the right thing for our customers."

The Company announced that its Board of Directors declared a cash dividend of $0.12 per share payable on November 18, 2016, to shareholders of record as of November 7, 2016.

Loans and Credit Quality

Loans totaled $1.2 billion at September 30, 2016, an increase of $15.0 million, or 1%, from June 30, 2016, and an increase of $25.7 million, or 2%, from September 30, 2015. Growth in organic loans of 17% (on an annualized basis) was partially offset by paydowns in our acquired loan portfolios.  The increase in loans during the third quarter of 2016 related primarily to commercial and industrial (up $9.5 million), multi-family residential (up $8.8 million) and commercial real estate loans (up $8.1 million), which were partially offset by decreases in residential mortgages (down $9.2 million) and home equity loans (down $2.0 million).      

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












September 30,


December 31,


Increase/(Decrease)


(dollars in thousands)


2016


2015


Amount


Percent


Real estate loans:










     One- to four-family first mortgage

$

353,093

$

371,238

$

(18,145)


(5)

%

     Home equity loans and lines


93,308


94,060


(752)


(1)


     Commercial real estate


422,435


405,379


17,056


4


     Construction and land


135,262


136,803


(1,541)


(1)


     Multi-family residential


46,776


43,863


2,913


7


        Total real estate loans


1,050,874


1,051,343


(469)


-


Other loans:










     Commercial and industrial


138,861


125,108


13,753


11


     Consumer


43,635


47,915


(4,280)


(9)


        Total other loans


182,496


173,023


9,473


5


        Total loans

$

1,233,370

$

1,224,366

$

9,004


1

%

 

Nonperforming assets ("NPAs"), excluding purchased credit impaired ("PCI") loans, totaled $21.2 million at September 30, 2016, an increase of $1.8 million, or 10%, compared to June 30, 2016 and an increase of $6.3 million, or 42%, compared to September 30, 2015.  The increase in nonperforming assets during the third quarter is primarily related to one organic loan relationship totaling $2.4 million with indirect exposure to the energy sector.  The ratio of total NPAs to total assets was 1.37% at September 30, 2016, compared to 1.25% at June 30, 2016 and 0.96% at September 30, 2015.    

The Company recorded $54,000 in net loan charge-offs during the third quarter of 2016, compared to no net loan charge-offs in the second quarter of 2016 and $103,000 for the third quarter of 2015.  The Company's provision for loan losses for the third quarter of 2016 was $800,000, compared to $1.1 million for the second quarter of 2016 and $569,000 for the third quarter of 2015.

The ratio of the allowance for loan losses to total loans was 0.99% at September 30, 2016, compared to 0.94% and 0.74% at June 30, 2016 and September 30, 2015, respectively.  Excluding acquired loans, the ratio of the allowance for loan losses to total loans was 1.36% at September 30, 2016, compared to 1.33% and 1.12% at June 30, 2016 and September 30, 2015, respectively.   

Direct Energy Exposure

The outstanding balance of direct loans to borrowers in the energy sector totaled $34.8 million, or 3% of total outstanding loans, at September 30, 2016.  We also had unfunded loan commitments to customers in the energy sector amounting to $8.4 million at such date.    At September 30, 2016, loans constituting 92% of the balance of our direct energy-related loans were performing in accordance with their original loan agreements.  Of the remaining 8%, $2.1 million had been restructured and were paying in accordance with the restructured terms as of September 30, 2016.  The Company holds no shared national credits.

The following table illustrates the composition of the Company's loans to borrowers in the energy sector (which we consider direct energy-related loans) at September 30, 2016. 

(dollars in thousands)


Total


Percent


Real estate loans:






    Commercial real estate

$

14,505


42

%

    Construction and land


406


1


             Total real estate loans


14,911


43


    Commercial and industrial:






           Equipment


6,623


19


           Marine vessels          


6,332


18


           Accounts receivable                


4,562


13


           Unsecured


967


3


           Other


1,375


4


              Total commercial and industrial loans


19,859


57


                  Total energy-related loans

$

34,770


100

%







 

The allowance for loan losses attributable to direct energy-related loans totaled 3.29% of the outstanding balance of energy-related loans at September 30, 2016.  Over the past 21 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 1.36% at September 30, 2016 due primarily to the potential direct and indirect impact of continuing low energy prices on our borrowers.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $184.4 million at September 30, 2016, a decrease of $4.0 million, or 2%, from June 30, 2016, and a decrease of $20.7 million, or 10%, from September 30, 2015.  The decrease in the comparative periods was primarily the result of pay downs and maturities. At September 30, 2016, the Company had a net unrealized gain position on its investment securities portfolio of $2.5 million, compared to net unrealized gains of $3.1 million and $2.9 million at June 30, 2016 and September 30, 2015, respectively.  The Company's investment securities portfolio had a modified duration of 3.0 years at September 30, 2016, compared to 2.9 and 3.4 years at June 30, 2016 and September 30, 2015, respectively.  

Deposits

Total deposits were $1.2 billion at September 30, 2016, a decrease of $4.2 million, or 0.3%, from June 30, 2016, and a decrease of $1.0 million, or 0.1%, from September 30, 2015.  At September 30, 2016, core deposits (i.e., checking, savings and money market accounts) decreased $1.0 million, or 0.1%, from June 30, 2016, and increased $30.6 million, or 3%, from September 30, 2015. 

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











September 30,


December 31,


Increase / (Decrease)


(dollars in thousands)


2016


2015


Amount


Percent


Demand deposit

$

289,835

$

296,617

$

(6,782)


(2)

%

Savings


110,150


109,393


757


1


Money market


257,125


293,637


(36,512)


(12)


NOW


299,880


267,707


32,173


12


Certificates of deposit


263,840


276,863


(13,023)


(5)


        Total deposits

$

1,220,830

$

1,244,217

$

(23,387)


(2)

%











 

Net Interest Income

Net interest income for the third quarter of 2016 totaled $15.5 million, a decrease of $14,000, or 0.1%, compared to the second quarter of 2016, and an increase of $2.0 million, or 15%, compared to the third quarter of 2015.  The addition of Louisiana Bancorp's earning assets accounted for the vast majority of the increase during the third quarter of 2016 compared to the third quarter of 2015. The Company's net interest margin was 4.32% for the third quarter of 2016, two basis points lower than the second quarter of 2016 and 23 basis points lower than the third quarter of 2015.  The decrease in the net interest margin in the third quarter of 2016 compared to the second quarter of 2016 was due primarily to lower average loan yields and differences in the mix of interest-earning assets and interest-bearing liabilities.  The decrease in the net interest margin in the third quarter of 2016 compared to the third quarter of 2015 primarily reflects the impact of the addition 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



September 30, 2016



June 30, 2016



September 30, 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

$

856,706

4.98

%

$

826,910

5.09

%

$

753,791


5.06

%

   Acquired loans


369,841

5.39



398,252

5.26



215,481


6.84


        Total loan receivable


1,226,547

5.11



1,225,162

5.15



969,272


5.46


Investment securities (TE)


184,249

2.13



188,085

2.21



192,023


2.16


Other interest-earning assets


15,410

1.78



18,943

1.43



18,651


1.08


Total interest-earning assets


1,426,206

4.69



1,432,190

4.71



1,179,946


4.85
















Interest-bearing liabilities:














Deposits:














Savings, checking, and money market


666,585

0.23



670,019

0.23



575,185


0.22


Certificates of deposit


264,534

0.79



270,147

0.79



224,206


0.72


Total interest-bearing deposits


931,119

0.39



940,166

0.39



799,391


0.36


Securities sold under repurchase agreements


-

-



-

-



4,093


0.20


FHLB advances


128,033

1.23



129,424

1.22



52,097


1.24


Total interest-bearing liabilities

$

1,059,152

0.49


$

1,069,590

0.49


$

855,581


0.42
















Net interest spread (TE)



4.20

%



4.22

%




4.43

%

Net interest margin (TE)



4.32

%



4.34

%




4.55

%



















 

Noninterest Income

Noninterest income for the third quarter of 2016 totaled $2.5 million, a decrease of $933,000, or 27%, compared to the second quarter of 2016 and an increase of $318,000, or 14%, compared to the third quarter of 2015.  The decrease in noninterest income in the third quarter of 2016 compared to the second quarter of 2016 resulted primarily from the absence of a net gain from the sale of assets of $641,000 recorded in the prior period and a decrease in other income (down $251,000 primarily from lower recoveries on acquired loans previously charged off).

The increase in noninterest income in the third quarter of 2016 compared to the third quarter of 2015 resulted primarily from the absence of a $359,000 net loss from the sale of assets recorded in the comparable prior year period. 

Noninterest Expense

Noninterest expense for the third quarter of 2016 totaled $10.6 million, a decrease of $1.2 million, or 10%, compared to the second quarter of 2016 and an increase of $121,000, or 1%, compared to the third quarter of 2015.  Noninterest expense for the second quarter of 2016 and third quarter of 2015 included $214,000 and $593,000, respectively, of merger-related expenses related to the acquisition of Louisiana Bancorp.  Excluding merger-related expenses from the respective prior comparable periods, noninterest expense for the third quarter of 2016 totaled $10.6 million, a decrease of $999,000, or 9%, compared to the second quarter of 2016 and an increase of $714,000, or 7%, compared to the third quarter of 2015.

The decrease in noninterest expense in the third quarter of 2016 compared to the second quarter of 2016 resulted primarily from lower expenses on foreclosed assets (down $780,000 resulting primarily from a $560,000 gain on the sale of foreclosed assets), compensation and benefits expense (down $198,000) and other expenses (down $141,000).

The increase in noninterest expense in the third quarter of 2016 compared to the third quarter of 2015 primarily reflects 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)


September 30,

2016



June 30,

2016



September 30,

2015


Reported noninterest expense

$

10,643


$

11,856


$

10,522


Less: Merger-related expenses


-



214



593


Non-GAAP noninterest expense

$

10,643


$

11,642


$

9,929












Reported noninterest income

$

2,515


$

3,448


$

2,197


Less: Gain on sale of assets


-



641



-


Non-GAAP noninterest income

$

2,515


$

2,807


$

2,197












Reported net income

$

4,360


$

4,016


$

2,899


Less: Gain on sale of assets, net tax


-



416



-


Add: Merger-related expenses, net tax


-



143



527


Non-GAAP net income

$

4,360


$

3,743


$

3,426












Diluted EPS

$

0.61


$

0.57


$

0.41


Less: Gain on sale of assets


-



0.06



-


Add: Merger-related expenses


-



0.02



0.08


Non-GAAP EPS

$

0.61


$

0.53


$

0.49












Reported net income

$

4,360


$

4,016


$

2,899


Add: Amortization CDI, net tax


127



130



109


Non-GAAP tangible assets

$

4,487


$

4,146


$

3,008












Total Assets

$

1,549,542


$

1,545,049


$

1,557,910


Less: Intangibles


12,956



13,542



15,911


Non-GAAP tangible assets

$

1,536,586


$

1,531,507


$

1,541,999












Total shareholders' equity

$

177,362


$

173,567


$

162,286


Less: Intangibles


12,956



13,542



15,911


Non-GAAP tangible shareholders' equity

$

164,406


$

160,025


$

146,375


 

Common equity ratio


11.45

%


11.23

%


10.42

%

Less: Intangibles


0.74



0.78



0.93


Non-GAAP tangible common equity


10.71

%


10.45

%


9.49

%











Return on average equity


9.91

%


9.35

%


7.20

%

Add: Intangibles


1.13



1.10



0.53


Non-GAAP Return tangible common equity


11.04

%


10.45

%


7.73

%













 

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 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













September 30,


September 30,


%



June 30,


December 31,


2016


2015


Change



2016


2015

Assets











Cash and cash equivalents

$     23,953,080


$     23,538,879


2

%


$     26,853,272


$         24,797,599

Interest-bearing deposits in banks

2,129,000


5,762,285


(63)



2,430,585


5,143,585

Investment securities available for sale, at fair value

170,992,673


190,762,087


(10)



174,949,772


176,762,200

Investment securities held to maturity

13,448,484


14,408,624


(7)



13,530,264


13,926,861

Mortgage loans held for sale

10,643,389


7,170,285


48



11,616,730


5,651,250

Loans, net of unearned income

1,233,369,734


1,207,709,500


2



1,218,330,307


1,224,365,916

Allowance for loan losses

(12,193,181)


(8,931,507)


37



(11,446,976)


(9,547,487)

     Total loans, net of allowance for loan losses

1,221,176,553


1,198,777,993


2



1,206,883,331


1,214,818,429

Office properties and equipment, net

39,359,536


42,264,398


(7)



39,422,603


40,815,744

Cash surrender value of bank-owned life insurance

20,028,198


19,543,520


3



19,867,467


19,666,900

Accrued interest receivable and other assets

47,810,976


55,682,411


(14)



49,494,863


50,329,032

Total Assets

$ 1,549,541,889


$ 1,557,910,482


(1)



$ 1,545,048,887


$     1,551,911,600























Liabilities











Deposits

$ 1,220,830,228


$ 1,221,687,666


(0)

%


$ 1,225,003,785


$     1,244,216,516

Federal Home Loan Bank advances

138,829,490


153,444,516


(10)



135,079,007


125,152,598

Accrued interest payable and other liabilities

12,520,553


20,492,194


(39)



11,398,668


17,496,132

Total Liabilities

1,372,180,271


1,395,624,376


(2)



1,371,481,460


1,386,865,246












Shareholders' Equity











Common stock

73,219


72,252


1

%


73,068


72,399

Additional paid-in capital

78,853,758


76,486,634


3



78,346,879


76,948,914

Common stock acquired by benefit plans

(4,426,601)


(4,822,040)


(8)



(4,523,041)


(4,711,260)

Retained earnings 

101,257,222


88,646,324


14



97,659,115


91,864,543

Accumulated other comprehensive income 

1,604,020


1,902,936


(16)



2,011,406


871,758

Total Shareholders' Equity

177,361,618


162,286,106


9



173,567,427


165,046,354

Total Liabilities and Shareholders' Equity

$ 1,549,541,889


$ 1,557,910,482


(1)



$ 1,545,048,887


$     1,551,911,600

 

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME
















For The Three Months Ended 




 For the Nine Months Ended 





September 30, 

%



 September 30, 


%



2016


2015


Change



2016


2015


Change


Interest Income














Loans, including fees

$ 15,889,132


$ 13,435,467


18

%


$ 47,760,159


$ 38,417,015


24

%

Investment securities

889,206


939,090


(5)



2,806,125


2,751,325


2


Other investments and deposits

68,860


50,613


36



195,449


149,684


31


Total interest income

16,847,198


14,425,170


17



50,761,733


41,318,024


23
















Interest Expense














Deposits

912,756


730,045


25

%


2,763,761


2,115,681


31

%

Securities sold under repurchase agreements

-


2,062


(100)



-


39,126


(100)


Federal Home Loan Bank advances

395,522


162,222


144



1,183,934


375,415


215


Total interest expense

1,308,278


894,329


46



3,947,695


2,530,222


56


Net interest income

15,538,920


13,530,841


15



46,814,038


38,787,802


21


Provision for loan losses

800,000


568,665


41



2,700,000


1,401,290


93


Net interest income after provision for loan losses

14,738,920


12,962,176


14



44,114,038


37,386,512


18
















Noninterest Income














Service fees and charges

1,045,591


1,027,938


2

%


3,083,858


2,874,602


7

%

Bank card fees

658,799


619,799


6



1,936,305


1,823,071


6


Gain on sale of loans, net

418,276


478,380


(13)



1,205,815


1,119,392


8


Income from bank-owned life insurance

120,618


123,943


(3)



361,297


380,410


(5)


Gain on the sale of securities, net

-


3,053


(100)



-


3,053


(100)


Gain (loss) on the sale of assets, net

-


(358,653)


100



640,580


(492,268)


230


Other income

271,392


302,671


(10)



1,301,616


606,378


115


Total noninterest income

2,514,676


2,197,131


15



8,529,471


6,314,638


35
















Noninterest Expense














Compensation and benefits

6,723,365


6,267,791


7

%


20,845,310


18,091,203


15

%

Occupancy

1,307,336


1,218,193


7



3,939,275


3,556,403


11


Marketing and advertising

193,483


129,197


50



649,498


352,179


84


Data processing and communication

1,133,136


974,099


16



3,824,169


2,832,571


35


Professional fees

244,278


648,278


(62)



797,829


1,361,688


(41)


Forms, printing and supplies

137,336


130,395


5



487,794


408,233


19


Franchise and shares tax

219,773


155,872


41



659,318


450,415


46


Regulatory fees

319,482


273,754


17



971,197


851,163


14


Foreclosed assets, net

(472,274)


(17,817)


(2,551)



(46,472)


477,753


(110)


Other expenses

836,706


742,347


13



2,711,401


2,087,916


30


Total noninterest expense

10,642,621


10,522,109


1



34,839,319


30,469,524


14


Income before income tax expense

6,610,975


4,637,198


43



17,804,190


13,231,626


35


Income tax expense

2,250,866


1,737,789


30



6,077,908


4,644,617


31


Net income

$  4,360,109


$  2,899,409


50



$ 11,726,282


$  8,587,009


37
















Earnings per share - basic

$          0.63


$          0.43


47

%


$          1.72


$          1.28


34

%

Earnings per share - diluted

$          0.61


$          0.41


49



$          1.65


$          1.23


34
















Cash dividends declared per common share

$          0.12


$          0.08


50

%


$          0.32


$          0.23


39

%

 


HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION




























 For The Three Months Ended 





 For The Three  






September 30, 


%



 Months Ended 



%



2016


2015


 Change 



 June 30, 2016 



 Change 


(dollars in thousands except per share data)













EARNINGS DATA













Total interest income

$     16,847


$     14,425


17

%


$            16,866



-

%

Total interest expense

1,308


894


46



1,313



-


Net interest income

15,539


13,531


15



15,553



-


Provision for loan losses

800


569


41



1,050



(24)


Total noninterest income

2,515


2,197


15



3,448



(27)


Total noninterest expense

10,643


10,522


1



11,856



(10)


Income tax expense

2,251


1,737


30



2,079



8


Net income

$       4,360


$       2,900


50



$              4,016



9















AVERAGE BALANCE SHEET DATA













Total assets

$ 1,533,164


$ 1,285,302


19

%


$        1,544,840



(1)

%

Total interest-earning assets

1,426,206


1,179,946


21



1,432,190



-


Totals loans

1,226,547


969,272


27



1,225,162



-


Total interest-bearing deposits

931,119


799,391


17



940,165



(1)


Total interest-bearing liabilities

1,059,152


855,581


24



1,069,590



(1)


Total deposits

1,222,232


1,064,384


15



1,230,839



(1)


Total shareholders' equity

175,980


161,033


9



171,757



3















SELECTED RATIOS (1)













Return on average assets

1.14

%

0.90

%

27

%


1.04

%


10

%

Return on average equity

9.91


7.20


38



9.35



6


Return on average tangible common equity(2) 

11.04


7.73


43



10.58



4


Common equity ratio

11.45


10.42


10



11.23



2


Tangible common equity ratio(3)

10.71


9.49


13



10.45



3


Efficiency ratio (4)

58.95


66.90


(12)



62.40



(6)


Average equity to average assets

11.48


12.53


(8)



11.12



3


Tier 1 leverage capital ratio(5) 

9.73


10.12


(4)



9.34



4


Total risk-based capital ratio(5) 

13.55


12.01


13



13.24



2


Net interest margin (6)

4.32


4.55


(5)



4.35



(1)




























PER SHARE DATA













Basic earnings per share

$        0.63


$        0.43


47

%


$               0.59



7

%

Diluted earnings per share

0.61


0.41


49



0.57



7


Book value at period end

24.22


22.46


8



23.75



2


Tangible book value at period end

22.45


20.26


11



21.90



3















PER SHARE DATA













Shares outstanding at period end

7,321,837


7,225,311


1

%


7,306,728



-

%

Weighted average shares outstanding













   Basic

6,871,727


6,743,179


2

%


6,816,409



1

%

   Diluted

7,123,727


7,022,484


1



7,088,125



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


















































September 30, 2016


June 30, 2016


September 30, 2015




Acquired

Originated

Total


Acquired

Originated

Total


Acquired

Originated

Total



(dollars in thousands)























CREDIT QUALITY(1) 























Nonaccrual loans

$ 1,457


$ 17,155


$ 18,612



$ 1,861


$ 15,215


$ 17,076



$ 3,554


$ 5,512


$  9,066




Accruing loans past due 90 days and over

-


-


-



-


-


-



-


-


-




Total nonperforming loans

1,457


17,155


18,612



1,861


15,215


17,076



3,554


5,512


9,066




Foreclosed assets

2,139


412


2,551



2,106


180


2,286



4,094


1,723


5,817




Total nonperforming assets

3,596


17,567


21,163



3,967


15,395


19,362



7,648


7,235


14,883




Performing troubled debt restructurings

522


927


1,449



538


988


1,526



498


876


1,374




Total nonperforming assets and troubled 























debt restructurings

$ 4,118


$ 18,494


$ 22,612



$ 4,505


$ 16,383


$ 20,888



$ 8,146


$ 8,111


$ 16,257



























Nonperforming assets to total assets





1.37

%






1.25

%






0.96

%



Nonperforming loans to total assets 





1.20







1.11







0.58




Nonperforming loans to total loans 





1.51







1.40







0.75




Allowance for loan losses to nonperforming assets





57.62







59.10







60.00




Allowance for loan losses to nonperforming loans





65.51







67.00







98.50




Allowance for loan losses to total loans





0.99







0.94







0.74



























Year-to-date loan charge-offs





$     249







$     187







$     377




Year-to-date loan recoveries





195







186







148




Year-to-date net loan charge-offs 





$       54







$        1







$     229




Annualized YTD net loan charge-offs to total loans





-

%






-

%






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 the table. 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.

 

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

 

SOURCE Home Bancorp, Inc.

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