HOME BANCORP ANNOUNCES 2022 FOURTH QUARTER RESULTS AND INCREASES QUARTERLY DIVIDEND BY 4%

LAFAYETTE, La., Jan. 24, 2023 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: "HBCP") (the "Company"), the parent company for Home Bank, N.A. (the "Bank") (www.home24bank.com), reported financial results for the fourth quarter of 2022. For the quarter, the Company reported net income of $10.8 million, or $1.32 per diluted common share ("diluted EPS"), up $342,000 from $10.4 million, or $1.28 diluted EPS, for the third quarter of 2022.

"We are excited to report strong earnings and loan growth throughout our footprint for the third consecutive quarter," said John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "While maintaining a strong credit discipline, the Company's total loans increased on a reported basis 6% from the previous quarter.  Excluding PPP loans, total loans increased $127.9 million, or 22% on an annualized basis.  We are seeing continuous success attracting new customers throughout our footprint."

Fourth Quarter 2022 Highlights

  • Loans totaled $2.4 billion at December 31, 2022, up $127.5 million, or 6%, from September 30, 2022. PPP loans totaled $6.7 million at December 31, 2022, down $402,000, or 6%, from September 30, 2022.
  • Net interest income totaled $33.3 million, up $1.3 million, or 4%, from the prior quarter.
  • The net interest margin ("NIM") increased 27 basis points from 4.11% for the third quarter of 2022 to 4.38%.
  • Nonperforming assets totaled $11.0 million, or 0.34% of total assets, down $6.5 million, or 37%, from September 30, 2022 primarily due to improved performance of some loans and paydowns.
  • The Company recorded a $2.0 million provision to the allowance for loan losses, compared to a $1.7 million provision in the prior quarter, primarily due to loan growth.

Loans

Loans totaled $2.4 billion at December 31, 2022, up $127.5 million, or 6%, from September 30, 2022. PPP loans, included in commercial and industrial loans, decreased $402,000, or 6%, from September 30, 2022. The following table summarizes the changes in the Company's loan portfolio from September 30, 2022 to December 31, 2022.










December 31,


September 30,


Increase (Decrease)

(dollars in thousands)


2022


2022


Amount


Percent

Real estate loans:









One- to four-family first mortgage


$                389,616


$                376,028


$                  13,588


4 %

Home equity loans and lines


61,863


60,624


1,239


2

Commercial real estate


1,152,537


1,086,656


65,881


6

Construction and land


313,175


328,753


(15,578)


(5)

Multi-family residential


100,588


97,212


3,376


3

Total real estate loans


2,017,779


1,949,273


68,506


4

Other loans:









Commercial and industrial


377,894


320,900


56,994


18

Consumer


35,077


33,106


1,971


6

Total other loans


412,971


354,006


58,965


17

Total loans


$            2,430,750


$             2,303,279


$                127,471


6 %

The average loan yield was 5.43% for the fourth quarter of 2022, up 26 basis points from the third quarter of 2022. Commercial real estate and commercial and industrial loans were the primary drivers for the loan growth during the fourth quarter of 2022. Commercial real estate loan growth for the current quarter was primarily in our Acadiana and Houston markets. During the fourth quarter of 2022, the growth in commercial and industrial loans was primarily within our Acadiana and Northshore markets.

Credit Quality and Allowance for Credit Losses

Nonperforming assets ("NPAs"), totaled $11.0 million, or 0.34% of total assets at December 31, 2022, down $6.5 million, or 37%, from $17.5 million, or 0.55% of total assets, at September 30, 2022.  The Company recorded net loan charge-offs of $39,000 during the fourth quarter of 2022, compared to net loan charge-offs of $365,000 for the third quarter of 2022.

The Company made a  $2.0 million provision to the allowance for loan losses in the fourth quarter of 2022 primarily due to loan growth. For the year ended December 31, 2022, provisions to the allowance for loan losses totaled $7.5 million. At December 31, 2022, the allowance for loan losses totaled $29.3 million, or 1.21% of total loans, compared to $27.4 million, or 1.19% of total loans, at September 30, 2022. Changes in expected losses consider various factors including the changing economic activity, potential mitigating effects of governmental stimulus, customer specific information impacting changes in risk ratings, projected delinquencies and the impact of industry-wide loan modification efforts, among other factors.

Deposits

Total deposits were $2.6 billion at December 31, 2022, down $105.2 million, or 4%, from September 30, 2022. The decrease in deposits for the fourth quarter of 2022 was primarily due to customers utilizing excess cash. The following table summarizes the changes in the Company's deposits from September 30, 2022 to December 31, 2022.










December 31,


September 30,


Increase/(Decrease)

(dollars in thousands)


2022


2022


Amount


Percent

Demand deposits


$                  904,301


$                  921,089


$                  (16,788)


(2) %

Savings


305,871


325,594


(19,723)


(6)

Money market


423,990


452,474


(28,484)


(6)

NOW


663,574


686,592


(23,018)


(3)

Certificates of deposit


335,445


352,675


(17,230)


(5)

Total deposits


$               2,633,181


$               2,738,424


$                (105,243)


(4) %

The average rate on interest-bearing deposits increased 17 basis points from 0.27% for the third quarter of 2022 to 0.44% for the fourth quarter of 2022. At December 31, 2022, certificates of deposit maturing within the next 12 months totaled $259.1 million.

Net Interest Income

The net interest margin ("NIM") increased 27 basis points from 4.11% for the third quarter of 2022 to 4.38% for the fourth quarter of 2022 primarily due to an increase in the average yield on loans, which was partially offset with an increase in the average cost of interest-bearing liabilities. The increase in average cost of interest-bearing liabilities was primarily due to the increased rates paid on deposits during the fourth quarter of 2022.

The average loan yield was 5.43% for the fourth quarter of 2022, up 26 basis points from the third quarter of 2022 primarily reflecting increased market rates of interest coupled with loan growth during the period.

Average PPP loans were $6.9 million for the fourth quarter of 2022, down $2.5 million, or 27%, from the third quarter of 2022. Unrecognized PPP lender fees totaled $94,000 at December 31, 2022.

Loan accretion income from acquired loans totaled $750,000 for the fourth quarter of 2022, down $97,000, or 11%, compared to the third quarter of 2022.

The average rate paid on total interest-bearing deposits was 0.44% for the fourth quarter of 2022, up 17 basis points from the third quarter of 2022 due to the increased market rates of interest.

The following table summarizes 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 have been calculated using a marginal tax rate of 21%.



For the Three Months Ended



December 31, 2022


September 30, 2022

(dollars in thousands)


Average
Balance


Interest


Average
Yield/ Rate


Average
Balance


Interest


Average
Yield/ Rate

Interest-earning assets:













Loans receivable


$     2,374,065


$          32,826


5.43 %


$     2,265,846


$          29,859


5.17 %

Investment securities (TE)


549,961


3,214


2.37


532,300


2,958


2.25

Other interest-earning assets


62,240


555


3.54


262,127


1,447


2.19

Total interest-earning assets


$     2,986,266


$          36,595


4.82 %


$     3,060,273


$          34,264


4.41 %














Interest-bearing liabilities:













Deposits:













Savings, checking, and money market


$     1,431,577


$            1,463


0.41 %


$     1,522,350


$               876


0.23 %

Certificates of deposit


338,389


486


0.57


371,925


394


0.42

Total interest-bearing deposits


1,769,966


1,949


0.44


1,894,275


1,270


0.27

Other borrowings


5,539


53


3.80


5,539


53


3.80

Subordinated debt


53,984


855


6.33


53,943


859


6.37

FHLB advances


54,620


456


3.28


24,977


105


1.68

Total interest-bearing liabilities


$     1,884,109


$            3,313


0.70 %


$     1,978,734


$            2,287


0.46 %














Net interest spread (TE)






4.12 %






3.95 %

Net interest margin (TE)






4.38 %






4.11 %

Noninterest Expense

Noninterest expense for the fourth quarter of 2022 totaled $21.2 million, up $454,000, or 2%, compared to the third quarter of 2022. Compensation and benefits were up $752,000 from the third quarter of 2022 primarily due to an increase in group health insurance and bonuses for the quarter, partially offset by a decrease in credit losses on unfunded commitments of $316,000.

Dividend and Share Repurchases

The Company announced that its Board of Directors declared a quarterly cash dividend on shares of its common stock of $0.25 per share payable on February 17, 2023, to shareholders of record as of February 6, 2023.

The Company repurchased 1,315 shares of its common stock during the fourth quarter of 2022 at an average price per share of $42.84 under the Company's 2020 Repurchase Plan. An additional 195,718 shares remain eligible for purchase under the 2021 Repurchase Plan. The book value per share and tangible book value per share of the Company's common stock was $39.82 and $29.20, respectively, at December 31, 2022.

Non-GAAP Reconciliation 

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 intangible assets and PPP loans. 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 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. A reconciliation of non-GAAP information included herein to GAAP is presented below.









For the Three Months Ended

(dollars in thousands, except per share data)


December 31,
2022


September 30,
2022


December 31,
2021








Reported net income


$            10,776


$            10,434


$            10,238

Add: Core deposit intangible amortization, net tax


350


358


221

Non-GAAP tangible income


$            11,126


$            10,792


$            10,459








Reported loan income


$            32,826


$            29,859


$            24,215

Less: PPP loan income


26


132


2,201

Loan income excluding PPP loan income


$            32,800


$            29,727


$            22,014








Loan yield


5.43 %


5.17 %


5.12 %

Negative (positive) impact of PPP loans


0.01



(0.29)

Loan yield excluding PPP loans


5.44 %


5.17 %


4.83 %








Net interest margin


4.38 %


4.11 %


3.53 %

Negative (positive) impact of PPP loans


0.01



(0.24)

Net interest margin excluding PPP loans


4.39 %


4.11 %


3.29 %








Total assets


$       3,228,280


$       3,167,666


$       2,938,244

Less: Intangible assets


87,973


87,839


61,949

Non-GAAP tangible assets


$       3,140,307


$       3,079,827


$       2,876,295








Total shareholders' equity


$          329,954


$          316,656


$          351,903

Less: Intangible assets


87,973


87,839


61,949

Non-GAAP tangible shareholders' equity


$          241,981


$          228,817


$          289,954















Total loans


$       2,430,750


$       2,303,279


$       1,840,093

Less: PPP loans


6,692


7,094


43,637

Total loans excluding PPP loans


$       2,424,058


$       2,296,185


$       1,796,456








Return on average equity


13.23 %


12.35 %


11.65 %

Add: Average intangible assets


5.52


4.99


2.83

Non-GAAP return on average tangible common equity


18.75 %


17.34 %


14.48 %








Common equity ratio


10.22 %


10.00 %


11.98 %

Less: Intangible assets


2.51


2.57


1.90

Non-GAAP tangible common equity ratio


7.71 %


7.43 %


10.08 %








Book value per share


$              39.82


$              38.27


$              41.27

Less: Intangible assets


10.62


10.61


7.27

Non-GAAP tangible book value per share


$              29.20


$              27.66


$              34.00








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, 2021, describes some of these factors, including risk elements in the loan portfolio, the level of the allowance for credit losses, the impact of the COVID-19 pandemic, 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

(Unaudited)










(dollars in thousands)


December 31,
2022


September 30,
2022


%
Change


December 31,
2021

Assets









Cash and cash equivalents


$                  87,401


$                150,556


(42) %


$                601,443

Interest-bearing deposits in banks


349


349



349

Investment securities available for sale, at fair value


486,518


492,758


(1)


327,632

Investment securities held to maturity


1,075


1,080



2,102

Mortgage loans held for sale


98


169


(42)


1,104

Loans, net of unearned income


2,430,750


2,303,279


6


1,840,093

Allowance for loan losses


(29,299)


(27,351)


(7)


(21,089)

Total loans, net of allowance for loan losses


2,401,451


2,275,928


6


1,819,004

Office properties and equipment, net


43,560


43,685



43,542

Cash surrender value of bank-owned life insurance


46,276


46,019


1


40,361

Goodwill and core deposit intangibles


87,973


87,839



61,949

Accrued interest receivable and other assets


73,579


69,283


6


40,758

Total Assets


$             3,228,280


$             3,167,666


2


$             2,938,244



















Liabilities









Deposits


$             2,633,181


$             2,738,424


(4) %


$             2,535,849

Other Borrowings


5,539


5,539



5,539

Subordinated debt, net of issuance cost


54,013


53,958



Federal Home Loan Bank advances


176,213


24,816


610


26,046

Accrued interest payable and other liabilities


29,380


28,273


4


18,907

Total Liabilities


2,898,326


2,851,010


2


2,586,341










Shareholders' Equity









Common stock


83


83


— %


85

Additional paid-in capital


164,942


164,024


1


164,982

Common stock acquired by benefit plans


(2,060)


(2,150)


4


(2,423)

Retained earnings


206,296


197,553


4


188,515

Accumulated other comprehensive (loss) income


(39,307)


(42,854)


8


744

Total Shareholders' Equity


329,954


316,656


4


351,903

Total Liabilities and Shareholders' Equity


$             3,228,280


$             3,167,666


2


$             2,938,244




HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME

(Unaudited)




For the Three Months Ended

(dollars in thousands, except per share data)


December 31,
2022


September 30,
2022


%
Change


December 31,
2021


%
Change

Interest Income











Loans, including fees


$                  32,826


$                  29,859


10 %


$                  24,215


36 %

Investment securities


3,214


2,958


9


1,309


146

Other investments and deposits


555


1,447


(62)


264


110

Total interest income


36,595


34,264


7


25,788


42

Interest Expense











Deposits


1,949


1,270


53 %


974


100 %

Other borrowings


53


53



53


Subordinated debt expense


855


859




Federal Home Loan Bank advances


456


105


334


111


311

Total interest expense


3,313


2,287


45


1,138


191

Net interest income


33,282


31,977


4


24,650


35

Provision (reversal) for loan losses


1,987


1,696


17


(2,648)


175

Net interest income after provision for loan losses


31,295


30,281


3


27,298


15

Noninterest Income











Service fees and charges


1,198


1,300


(8) %


1,224


(2) %

Bank card fees


1,566


1,623


(4)


1,519


3

Gain on sale of loans, net


22


78


(72)


376


(94)

Income from bank-owned life insurance


257


231


11


219


17

Gain on sale of assets, net


9


18


(50)


(44)


120

Other income


287


224


28


240


20

Total noninterest income


3,339


3,474


(4)


3,534


(6)

Noninterest Expense











Compensation and benefits


12,880


12,128


6 %


9,991


29 %

Occupancy


2,261


2,297


(2)


1,824


24

Marketing and advertising


550


658


(16)


1,033


(47)

Data processing and communication


2,295


2,284



2,237


3

Professional fees


388


331


17


493


(21)

Forms, printing and supplies


182


185


(2)


164


11

Franchise and shares tax


693


633


9


396


75

Regulatory fees


511


467


9


331


54

Foreclosed assets, net


30


101


(70)


155


(81)

Amortization of acquisition intangible


443


453


(2)


279


59

Provision for credit losses on unfunded lending commitments


(170)


146


(216)


15


(1233)

Other expenses


1,114


1,040


7


1,099


1

Total noninterest expense


21,177


20,723


2


18,017


18

Income before income tax expense


13,457


13,032


3


12,815


5

Income tax expense


2,681


2,598


3


2,577


4

Net income


$                  10,776


$                  10,434


3


$                  10,238


5












Earnings per share - basic


$                       1.33


$                       1.29


3 %


$                       1.24


7 %

Earnings per share - diluted


$                       1.32


$                       1.28


3


$                       1.23


7












Cash dividends declared per common share


$                       0.24


$                       0.23


4 %


$                       0.23


4 %




HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION

(Unaudited)




For the Three Months Ended

(dollars in thousands, except per share data)


December 31,
2022


September 30,
2022


%
Change


December 31,
2021


%
Change

EARNINGS DATA











Total interest income


$              36,595


$              34,264


7 %


$              25,788


42 %

Total interest expense


3,313


2,287


45


1,138


191

  Net interest income


33,282


31,977


4


24,650


35

(Reversal) provision for loan losses


1,987


1,696


17


(2,648)


175

Total noninterest income


3,339


3,474


(4)


3,534


(6)

Total noninterest expense


21,177


20,723


2


18,017


18

Income tax expense


2,681


2,598


3


2,577


4

  Net income


$              10,776


$              10,434


3


$              10,238


5












AVERAGE BALANCE SHEET DATA











Total assets


$         3,173,676


$         3,265,907


(3) %


$         2,941,274


8 %

Total interest-earning assets


2,986,266


3,060,273


(2)


2,749,445


9

Total loans


2,374,065


2,265,846


5


1,856,814


28

PPP loans


6,883


9,431


(27)


67,198


(90)

Total interest-bearing deposits


1,769,966


1,894,275


(7)


1,729,341


2

Total interest-bearing liabilities


1,884,109


1,978,734


(5)


1,761,052


7

Total deposits


2,707,823


2,818,318


(4)


2,537,670


7

Total shareholders' equity


323,102


335,053


(4)


348,635


(7)












PER SHARE DATA











Earnings per share - basic


$                   1.33


$                   1.29


3 %


$                   1.24


7 %

Earnings per share - diluted


1.32


1.28


3


1.23


7

Book value at period end


39.82


38.27


4


41.27


(4)

Tangible book value at period end


29.20


27.66


6


34.00


(14)

Shares outstanding at period end


8,286,084


8,273,334



8,526,907


(3)

Weighted average shares outstanding











Basic


8,070,734


8,089,246


— %


8,278,472


(3) %

Diluted


8,119,481


8,138,307



8,331,749


(3)












SELECTED RATIOS (1)











Return on average assets


1.35 %


1.27 %


6 %


1.38 %


(2) %

Return on average equity


13.23


12.35


7


11.65


14

Common equity ratio


10.22


10.00


2


11.98


(15)

Efficiency ratio (2)


57.83


58.45


(1)


63.93


(10)

Average equity to average assets


10.18


10.26


(1)


11.85


(14)

Tier 1 leverage capital ratio (3)


10.43


9.76


7


9.77


7

Total risk-based capital ratio (3)


13.63


13.65



15.85


(14)

Net interest margin (4)


4.38


4.11


7


3.53


24












SELECTED NON-GAAP RATIOS (1)











Tangible common equity ratio (5)


7.71 %


7.43 %


4 %


10.08 %


(24) %

Return on average tangible common equity (6)


18.75


17.34


8


14.48


29












(1)

With the exception of end-of-period ratios, all ratios are based on average daily 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)

Capital ratios are preliminary end-of-period ratios for the Bank only and are subject to change.

(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%.

(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.







HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION

(Unaudited)





December 31, 2022


September 30, 2022


December 31, 2021

(dollars in thousands)


Acquired


Originated


Total


Acquired


Originated


Total


Acquired


Originated


Total

CREDIT QUALITY (1)



















Nonaccrual loans (2)


$          6,177


$          4,336


$    10,513


$        12,799


$          4,281


$    17,080


$          6,036


$          7,233


$    13,269

Accruing loans past due 90 days and over



2


2



3


3



6


6

Total nonperforming loans


6,177


4,338


10,515


12,799


4,284


17,083


6,036


7,239


13,275

Foreclosed assets and ORE


310


151


461


376


14


390


80


1,109


1,189

Total nonperforming assets


6,487


4,489


10,976


13,175


4,298


17,473


6,116


8,348


14,464

Performing troubled debt restructurings


1,605


4,600


6,205


879


4,686


5,565


1,096


3,867


4,963

Total nonperforming assets and troubled debt restructurings


$          8,092


$          9,089


$    17,181


$        14,054


$          8,984


$    23,038


$          7,212


$        12,215


$    19,427




















Nonperforming assets to total assets






0.34 %






0.55 %






0.49 %

Nonperforming loans to total assets






0.33






0.54






0.45

Nonperforming loans to total loans






0.43






0.74






0.72



(1)

It is our policy to cease accruing interest on loans 90 days or more past due. Nonperforming assets consist of nonperforming loans, foreclosed assets and other real estate (ORE). Foreclosed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure. ORE consists of closed or unused bank buildings.

(2)

Nonaccrual loans include originated restructured loans placed on nonaccrual totaling $3.1 million, $3.3 million and $3.7 million at December 31, 2022, September 30, 2022 and December 31, 2021, respectively. Acquired restructured loans placed on nonaccrual totaled $3.7 million, $4.7 million and $3.5 million at December 31, 2022, September 30, 2022 and December 31, 2021, respectively.







HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION - CONTINUED

(Unaudited)




12/31/2022


9/30/2022


12/31/2021



Collectively
Evaluated


Individually
Evaluated


Total


Collectively
Evaluated


Individually
Evaluated


Total


Collectively
Evaluated


Individually
Evaluated


Total

ALLOWANCE FOR CREDIT LOSSES



















One- to four-family first mortgage


$          2,883


$                 —


$      2,883


$          2,293


$                 32


$      2,325


$          1,944


$                 —


$      1,944

Home equity loans and lines


624



624


500



500


508



508

Commercial real estate


13,264


550


13,814


12,504


1,193


13,697


10,207


247


10,454

Construction and land


4,680



4,680


4,973



4,973


3,572



3,572

Multi-family residential


572



572


498



498


457



457

Commercial and industrial


5,853


171


6,024


4,523


188


4,711


3,095


425


3,520

Consumer


702



702


647



647


634



634

Total allowance for loan losses


$        28,578


$              721


$    29,299


$        25,938


$           1,413


$    27,351


$        20,417


$              672


$    21,089




















Unfunded lending commitments(1)


2,093



2,093


2,263



2,263


1,815



1,815

Total allowance for credit losses


$        30,671


$              721


$    31,392


$        28,201


$           1,413


$    29,614


$        22,232


$              672


$    22,904




















Allowance for loan losses to nonperforming assets






266.94 %






156.53 %






145.80 %

Allowance for loan losses to nonperforming loans






278.64






160.11






158.86

Allowance for loan losses to total loans






1.21






1.19






1.15

Allowance for credit losses to total loans






1.29






1.29






1.24




















Year-to-date loan charge-offs






$      1,398






$      1,260






$      2,305

Year-to-date loan recoveries






704






605






592

Year-to-date net loan charge-offs






$          694






$          655






$      1,713

Annualized YTD net loan charge-offs to average loans






0.03 %






0.04 %






0.09 %



(1)

The allowance for unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition.

 

SOURCE Home Bancorp, Inc.

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