LAFAYETTE, La., April 23, 2013 /PRNewswire/ -- Home Bancorp,
Inc. (Nasdaq: HBCP) (the "Company"), the parent company for
Home Bank (www.home24bank.com), a Federally chartered savings bank
headquartered in Lafayette,
Louisiana (the "Bank"), announced net income of $1.9 million for the first quarter of 2013, a
decrease of $462,000, or 20%,
compared to the fourth quarter of 2012 and a decrease of
$199,000, or 10%, compared to the
first quarter of 2012. Diluted earnings per share were
$0.27 for the first quarter of 2013,
a decrease of $0.06, or 18%, compared
to the fourth quarter of 2012 and a decrease of $0.02, or 7%, compared to the first quarter of
2012.
"We are beginning to see our loan pipeline grow modestly,"
stated John W. Bordelon, President
and Chief Executive Officer of the Company and the Bank. "We
continue to manage our company conservatively through this
challenging time for our industry. We will maintain our
credit standards and manage interest rate risk appropriately for
the long-term benefit of our Company and shareholders."
Loans and Credit Quality
Loans totaled $678.6 million at
March 31, 2013, an increase of
$5.5 million, or 1%, from
December 31, 2012, and a decrease of
$72,000, from March 31, 2012. During the first quarter,
increases in the one-to four-family first mortgage (up $8.5 million) and commercial and industrial (up
$2.1 million) loan portfolios were
largely offset by maturities and paydowns in most other segments of
the loan portfolio. The increase in the one-to-four-family
first mortgage portfolio resulted primarily from the selective
addition of 15-year term loans to the
portfolio.
The following table sets forth the composition of the Company's
loan portfolio (including loans covered by loss sharing agreements)
as of the dates indicated.
|
|
|
|
|
|
|
|
|
March
31,
|
|
December 31,
|
|
Increase/(Decrease)
|
|
(dollars in thousands)
|
|
2013
|
|
2012
|
|
Amount
|
Percent
|
|
Real
estate loans:
|
|
|
|
|
|
|
|
|
One- to four-family first
mortgage
|
$
|
186,275
|
$
|
177,816
|
$
|
8,459
|
5
|
%
|
Home equity loans and
lines
|
|
38,543
|
|
40,425
|
|
(1,882)
|
(5)
|
|
Commercial real
estate
|
|
251,656
|
|
252,805
|
|
(1,149)
|
-
|
|
Construction and
land
|
|
74,229
|
|
75,529
|
|
(1,300)
|
(2)
|
|
Multi-family
residential
|
|
18,500
|
|
19,659
|
|
(1,159)
|
(6)
|
|
Total real
estate loans
|
|
569,203
|
|
566,234
|
|
2,969
|
1
|
|
Other
loans:
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
74,346
|
|
72,253
|
|
2,093
|
3
|
|
Consumer
|
|
35,029
|
|
34,641
|
|
388
|
1
|
|
Total
other loans
|
|
109,375
|
|
106,894
|
|
2,481
|
2
|
|
Total
loans
|
$
|
678,578
|
$
|
673,128
|
$
|
5,450
|
1
|
%
|
Nonperforming assets ("NPAs"), which include $11.6 million in assets covered under loss
sharing agreements with the FDIC ("Covered Assets") and
$12.3 million acquired from GS
Financial Corp. ("GSFC"), totaled $30.5
million at March 31, 2013, an
increase of $2.1 million compared to
December 31, 2012 and a decrease of
$3.6 million compared to March 31, 2012. The ratio of total NPAs to
total assets was 3.12% at March 31,
2013, compared to 2.95% at December
31, 2012 and 3.48% at March
31, 2012. Excluding acquired assets, the ratio of NPAs
to total assets was 0.80% at March 31,
2013, compared to 0.62% at December
31, 2012 and 1.16% at March
31, 2012.
The Company recorded net loan charge-offs of $165,000 during the first quarter of 2013,
compared to net loan charge-offs of $70,000 in the fourth quarter of 2012 and
$3,000 in the first quarter of
2012. The increase in net charge-offs for the first quarter
of 2013 resulted primarily from the full charge off of one
commercial and industrial loan relationship.
The Company's provision for loan losses for the first quarter of
2013 was $520,000, compared to
$483,000 for the fourth quarter of
2012 and $712,000 for the first
quarter of 2012. The provision in the first quarter of 2013
related primarily to the commercial and industrial loan charge-offs
noted above and a $300,000 provision
on a $1.3 million medical equipment
loan.
The ratio of allowance for loan losses to total loans was 0.84%
at March 31, 2013, compared to 0.79%
and 0.86% at December 31, 2012 and
March 31, 2012, respectively.
Excluding acquired loans, the ratio of the allowance for loan
losses to total loans was 1.05% at March 31,
2013, compared to 1.01% at December
31, 2012 and 1.22% at March
31, 2012.
Investment Securities Portfolio
The Company's investment securities portfolio totaled
$159.7 million at March 31, 2013, an increase of $807,000, or 1%, from December 31, 2012, and a decrease of $4.3 million, or 3%, from March 31, 2012. At March 31, 2013, the Company had a net unrealized
gain position on its investment securities portfolio of
$4.6 million, compared to net
unrealized gains of $4.9 million and
$4.0 million at December 31, 2012 and March 31, 2012, respectively. The
investment securities portfolio had a modified duration of 3.7
years at March 31, 2013 and
December 31, 2012, compared to 3.2
years at March 31, 2012.
Deposits
During the first quarter of 2013, core deposits (i.e., checking,
savings and money market accounts) increased $24.9 million, or 5%, from December 31, 2012, and increased $84.7 million, or 19%, from March 31, 2012. Total deposits were
$783.3 million at March 31, 2013, an increase of $11.9 million, or 2%, from December 31, 2012, and an increase of
$47.2 million, or 6%, from
March 31, 2012.
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)
|
|
2013
|
|
2012
|
|
Amount
|
Percent
|
|
Demand
deposit
|
$
|
174,520
|
$
|
152,462
|
$
|
22,058
|
14
|
%
|
Savings
|
|
53,677
|
|
51,515
|
|
2,162
|
4
|
|
Money
market
|
|
196,009
|
|
191,191
|
|
4,818
|
3
|
|
NOW
|
|
119,111
|
|
123,294
|
|
(4,183)
|
(3)
|
|
Certificates of deposit
|
|
240,002
|
|
252,967
|
|
(12,965)
|
(5)
|
|
Total
deposits
|
$
|
783,319
|
$
|
771,429
|
$
|
11,890
|
2
|
%
|
|
|
|
|
|
|
|
|
|
Share Repurchases
The Company purchased 36,160 shares of its common stock during
the first quarter of 2013 at an average price per share of
$18.55 under the share repurchase
plan announced in July 2012. The Company may repurchase up to
383,598 shares, or approximately 5%, of the Company's outstanding
common stock under the July 2012
plan. As of April 17, 2013, the
Company has purchased 286,022 shares under the plan at an average
price per share of $17.56; hence, an
additional 97,576 shares remain eligible for purchase under the
plan. The tangible book value per share of the Company's
common stock was $19.03 at
March 31,
2013.
Net Interest Income
Net interest income for the first quarter of 2013 totaled
$9.9 million, a decrease of
$521,000, or 5%, compared to the
fourth quarter of 2012, and a decrease of $102,000, or 1%, compared to the first quarter of
2012. The decline in net interest income in the first quarter
of 2013 compared to the first and fourth quarters of 2012 was due
largely to a decline in loan interest income as a result of lower
volumes of new loan originations and lower average yields earned on
loans, reflecting the continuing low interest rate environment as
well as the effects of competition for loans in our
marketplace.
The Company's net interest margin was 4.63% for the first
quarter of 2013, 12 basis points lower than the fourth quarter of
2012 and two basis points lower than the first quarter of
2012. The decrease in the net interest margin related
primarily to lower loan yields.
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
yields are calculated using a marginal tax rate of 35%.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the
Three Months Ended
|
|
|
|
March
31, 2013
|
|
|
December 31, 2012
|
|
|
March
31, 2012
|
|
|
(dollars in thousands)
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans receivable
|
$
|
675,435
|
5.98
|
%
|
$
|
673,428
|
6.28
|
%
|
$
|
672,713
|
6.13
|
%
|
|
Investment securities (TE)
|
|
153,958
|
2.15
|
|
|
149,294
|
2.09
|
|
|
155,476
|
2.32
|
|
|
Other interest-earning assets
|
|
28,753
|
0.44
|
|
|
41,057
|
0.43
|
|
|
25,160
|
0.55
|
|
|
Total interest-earning assets
|
$
|
858,146
|
5.11
|
|
$
|
863,779
|
5.28
|
|
$
|
853,349
|
5.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings, checking, and money market
|
$
|
369,594
|
0.30
|
|
$
|
361,862
|
0.33
|
|
$
|
316,004
|
0.45
|
|
|
Certificates of deposit
|
|
245,421
|
1.01
|
|
|
257,750
|
1.04
|
|
|
282,476
|
1.11
|
|
|
Total interest-bearing deposits
|
|
615,015
|
0.58
|
|
|
619,612
|
0.63
|
|
|
598,480
|
0.76
|
|
|
FHLB advances
|
|
41,243
|
1.39
|
|
|
40,796
|
1.58
|
|
|
101,473
|
0.71
|
|
|
Total interest-bearing liabilities
|
$
|
656,258
|
0.63
|
|
$
|
660,408
|
0.68
|
|
$
|
699,953
|
0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest spread (TE)
|
|
|
4.48
|
%
|
|
|
4.59
|
%
|
|
|
4.52
|
%
|
|
Net
interest margin (TE)
|
|
|
4.63
|
%
|
|
|
4.75
|
%
|
|
|
4.65
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
Noninterest income for the first quarter of 2013 totaled
$1.8 million, an increase of
$15,000, or 1%, compared to the
fourth quarter of 2012 and an increase of $80,000, or 5%, compared to the first quarter of
2012. The increase in noninterest income in the first quarter
of 2013 compared to the fourth quarter of 2012 resulted primarily
from increases in service fees and charges (up $51,000) and bank card fees (up $15,000), which were partially offset by
decreases in gains on the sale of mortgage loans (down $19,000), income from bank-owned life insurance
(down $9,000) and other income (down
$16,000).
The increase in noninterest income in the first quarter of 2013
compared to the first quarter of 2012 resulted primarily from
higher gains on sale of mortgage loans (up $222,000), which was partially offset by
decreases in discount accretion on the FDIC loss sharing receivable
(down $65,000), bank card fees (down
$54,000) and service fees and charges
(down $24,000).
Noninterest Expense
Noninterest expense for the first quarter of 2013 totaled
$8.3 million, an increase of
$83,000, or 1%, compared to the
fourth quarter of 2012 and an increase of $487,000, or 6%, compared to the first quarter of
2012. The increase in noninterest expense in the first
quarter of 2013 compared to the fourth quarter of 2012 resulted
primarily from higher accrual of Louisiana shares tax (up $317,000), which was partially offset by lower
data processing and communication (down $126,000) and foreclosed asset expenses (down
$115,000).
The increase in noninterest expense in the first quarter of 2013
compared to the first quarter of 2012 resulted primarily from
higher compensation and benefits (up $401,000), marketing and advertising (up
$88,000) and Louisiana shares tax (up $98,000) expenses, which were partially offset by
lower foreclosed asset expenses (down $90,000).
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 loans acquired from the FDIC and GSFC. Management believes
the presentation of this non-GAAP financial information provides
useful information that is essential to a proper 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,
2012, 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,
|
|
2013
|
|
2012
|
|
Change
|
|
|
2012
|
Assets
|
|
|
|
|
|
|
|
|
Cash and
cash equivalents
|
$
48,271,579
|
|
$
33,800,736
|
|
43
|
%
|
|
$
39,539,366
|
Interest-bearing deposits in banks
|
3,529,000
|
|
4,754,000
|
|
(26)
|
|
|
3,529,000
|
Investment
securities available for sale, at fair value
|
158,264,273
|
|
161,000,461
|
|
(2)
|
|
|
157,255,828
|
Investment
securities held to maturity
|
1,463,543
|
|
3,064,866
|
|
(52)
|
|
|
1,665,184
|
Mortgage
loans held for sale
|
4,373,926
|
|
1,794,119
|
|
144
|
|
|
5,627,104
|
Loans
covered by loss sharing agreements
|
41,533,637
|
|
56,111,387
|
|
(26)
|
|
|
45,764,397
|
Noncovered
loans, net of unearned income
|
637,044,534
|
|
622,539,181
|
|
2
|
|
|
627,363,937
|
Total loans
|
678,578,171
|
|
678,650,568
|
|
-
|
|
|
673,128,334
|
Allowance
for loan losses
|
(5,674,179)
|
|
(5,813,095)
|
|
(2)
|
|
|
(5,319,235)
|
Total loans, net of
allowance for loan losses
|
672,903,992
|
|
672,837,473
|
|
-
|
|
|
667,809,099
|
FDIC loss
sharing receivable
|
15,658,092
|
|
24,399,699
|
|
(36)
|
|
|
15,545,893
|
Office
properties and equipment, net
|
30,540,350
|
|
30,724,675
|
|
(1)
|
|
|
30,777,184
|
Cash
surrender value of bank-owned life insurance
|
17,405,985
|
|
16,902,453
|
|
3
|
|
|
17,286,434
|
Accrued
interest receivable and other assets
|
24,614,631
|
|
30,275,634
|
|
(19)
|
|
|
23,891,172
|
Total
Assets
|
$
977,025,371
|
|
$
979,554,116
|
|
-
|
|
|
$
962,926,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
Deposits
|
$
783,318,582
|
|
$
736,157,230
|
|
6
|
%
|
|
$
771,429,335
|
Federal
Home Loan Bank advances
|
49,346,176
|
|
100,848,030
|
|
(51)
|
|
|
46,256,805
|
Accrued
interest payable and other liabilities
|
1,242,657
|
|
4,827,764
|
|
(74)
|
|
|
3,666,264
|
Total
Liabilities
|
833,907,415
|
|
841,833,024
|
|
(1)
|
|
|
821,352,404
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity
|
|
|
|
|
|
|
|
|
Common
stock
|
89,534
|
|
89,404
|
|
-
|
%
|
|
89,506
|
Additional
paid-in capital
|
91,458,193
|
|
90,230,748
|
|
1
|
|
|
90,986,820
|
Treasury
stock
|
(22,390,786)
|
|
(15,965,319)
|
|
40
|
|
|
(21,719,954)
|
Common
stock acquired by benefit plans
|
(7,358,139)
|
|
(8,531,519)
|
|
(14)
|
|
|
(7,455,669)
|
Retained
earnings
|
78,297,156
|
|
69,305,807
|
|
13
|
|
|
76,435,222
|
Accumulated other comprehensive
income
|
3,021,998
|
|
2,591,971
|
|
17
|
|
|
3,237,935
|
Total
Shareholders' Equity
|
143,117,956
|
|
137,721,092
|
|
4
|
|
|
141,573,860
|
Total
Liabilities and Shareholders' Equity
|
$
977,025,371
|
|
$
979,554,116
|
|
-
|
|
|
$
962,926,264
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
CONDENSED STATEMENTS OF INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For
The Three Months Ended
|
|
|
|
|
For
The Three
|
|
|
|
|
March 31,
|
%
|
|
|
Months Ended
|
|
%
|
|
|
2013
|
2012
|
|
Change
|
|
|
December 31, 2012
|
|
Change
|
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
Loans,
including fees
|
$
10,072,750
|
$
10,371,357
|
|
(3)
|
%
|
|
$
10,734,365
|
|
(6)
|
%
|
Investment
securities
|
771,050
|
859,482
|
|
(10)
|
|
|
728,597
|
|
6
|
|
Other
investments and deposits
|
31,306
|
34,398
|
|
(9)
|
|
|
43,951
|
|
(29)
|
|
Total
interest income
|
10,875,106
|
11,265,237
|
|
(3)
|
|
|
11,506,913
|
|
(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
881,014
|
1,131,848
|
|
(22)
|
%
|
|
974,361
|
|
(10)
|
%
|
Federal
Home Loan Bank advances
|
143,679
|
180,836
|
|
(21)
|
|
|
160,787
|
|
(11)
|
|
Total
interest expense
|
1,024,693
|
1,312,684
|
|
(22)
|
|
|
1,135,148
|
|
(10)
|
|
Net
interest income
|
9,850,413
|
9,952,553
|
|
(1)
|
|
|
10,371,765
|
|
(5)
|
|
Provision
for loan losses
|
520,392
|
711,900
|
|
(27)
|
|
|
483,251
|
|
8
|
|
Net
interest income after provision for loan losses
|
9,330,021
|
9,240,653
|
|
1
|
|
|
9,888,514
|
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
|
|
|
|
|
|
|
|
|
|
|
Service
fees and charges
|
546,346
|
569,941
|
|
(4)
|
%
|
|
495,372
|
|
10
|
%
|
Bank card
fees
|
414,392
|
468,284
|
|
(12)
|
|
|
399,282
|
|
4
|
|
Gain on
sale of loans, net
|
548,419
|
326,171
|
|
68
|
|
|
567,804
|
|
(3)
|
|
Income
from bank-owned life insurance
|
119,551
|
131,279
|
|
(9)
|
|
|
128,487
|
|
(7)
|
|
Gain on
the sale of securities, net
|
-
|
168
|
|
(100)
|
|
|
-
|
|
-
|
|
Discount
accretion of FDIC loss sharing receivable
|
112,199
|
177,510
|
|
(37)
|
|
|
119,087
|
|
(6)
|
|
Other
income
|
39,371
|
26,562
|
|
48
|
|
|
55,418
|
|
(29)
|
|
Total
noninterest income
|
1,780,278
|
1,699,915
|
|
5
|
|
|
1,765,450
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Expense
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
5,096,218
|
4,695,709
|
|
9
|
%
|
|
5,118,250
|
|
-
|
%
|
Occupancy
|
708,786
|
694,941
|
|
2
|
|
|
689,774
|
|
3
|
|
Marketing
and advertising
|
239,195
|
151,474
|
|
58
|
|
|
205,051
|
|
17
|
|
Data
processing and communication
|
641,515
|
672,341
|
|
(5)
|
|
|
767,345
|
|
(16)
|
|
Professional fees
|
212,746
|
232,253
|
|
(8)
|
|
|
189,175
|
|
12
|
|
Forms,
printing and supplies
|
106,773
|
126,266
|
|
(15)
|
|
|
100,006
|
|
7
|
|
Franchise
and shares tax
|
273,620
|
175,651
|
|
56
|
|
|
(43,458)
|
|
730
|
|
Regulatory
fees
|
223,249
|
198,158
|
|
13
|
|
|
224,673
|
|
(1)
|
|
Foreclosed
assets, net
|
177,943
|
267,998
|
|
(34)
|
|
|
292,584
|
|
(39)
|
|
Other
expenses
|
616,271
|
594,031
|
|
4
|
|
|
669,918
|
|
(8)
|
|
Total
noninterest expense
|
8,296,316
|
7,808,822
|
|
6
|
|
|
8,213,318
|
|
1
|
|
Income
before income tax expense
|
2,813,983
|
3,131,746
|
|
(10)
|
|
|
3,440,646
|
|
(18)
|
|
Income tax
expense
|
952,049
|
1,071,289
|
|
(11)
|
|
|
1,116,236
|
|
(15)
|
|
Net
income
|
$ 1,861,934
|
$ 2,060,457
|
|
(10)
|
|
|
$
2,324,410
|
|
(20)
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
per share - basic
|
$
0.28
|
$
0.30
|
|
(7)
|
%
|
|
$
0.34
|
|
(18)
|
%
|
Earnings
per share - diluted
|
$
0.27
|
$
0.29
|
|
(7)
|
|
|
$
0.33
|
|
(18)
|
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
SUMMARY
FINANCIAL INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For
The Three Months Ended
|
|
|
|
|
For
The Three
|
|
|
|
|
|
March 31,
|
|
%
|
|
|
Months Ended
|
|
|
%
|
|
|
2013
|
|
2012
|
|
Change
|
|
|
December 31, 2012
|
|
|
Change
|
|
(dollars in thousands except per share
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest income
|
$
10,875
|
|
$
11,265
|
|
(3)
|
%
|
|
$
11,507
|
|
|
(5)
|
%
|
Total
interest expense
|
1,025
|
|
1,313
|
|
(22)
|
|
|
1,135
|
|
|
(10)
|
|
Net
interest income
|
9,850
|
|
9,952
|
|
(1)
|
|
|
10,372
|
|
|
(5)
|
|
Provision
for loan losses
|
520
|
|
712
|
|
(27)
|
|
|
483
|
|
|
8
|
|
Total
noninterest income
|
1,780
|
|
1,700
|
|
5
|
|
|
1,765
|
|
|
1
|
|
Total
noninterest expense
|
8,296
|
|
7,809
|
|
6
|
|
|
8,213
|
|
|
1
|
|
Income tax
expense
|
952
|
|
1,071
|
|
(11)
|
|
|
1,116
|
|
|
(15)
|
|
Net
income
|
$ 1,862
|
|
$ 2,060
|
|
(10)
|
|
|
$
2,325
|
|
|
(20)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE
BALANCE SHEET DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
961,542
|
|
$
965,683
|
|
-
|
%
|
|
$
969,182
|
|
|
(1)
|
%
|
Total
interest-earning assets
|
858,146
|
|
853,349
|
|
1
|
|
|
863,779
|
|
|
(1)
|
|
Total
loans
|
675,435
|
|
672,713
|
|
-
|
|
|
673,428
|
|
|
-
|
|
Total
interest-bearing deposits
|
615,015
|
|
598,480
|
|
3
|
|
|
619,612
|
|
|
(1)
|
|
Total
interest-bearing liabilities
|
656,258
|
|
699,953
|
|
(6)
|
|
|
660,408
|
|
|
(1)
|
|
Total
deposits
|
775,937
|
|
724,752
|
|
7
|
|
|
783,522
|
|
|
(1)
|
|
Total
shareholders' equity
|
143,113
|
|
134,899
|
|
6
|
|
|
141,457
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average assets
|
0.77
|
%
|
0.85
|
%
|
(9)
|
%
|
|
0.96
|
%
|
|
(20)
|
%
|
Return on
average equity
|
5.20
|
|
6.11
|
|
(15)
|
|
|
6.57
|
|
|
(21)
|
|
Efficiency
ratio (2)
|
71.33
|
|
67.01
|
|
6
|
|
|
67.67
|
|
|
5
|
|
Average
equity to average assets
|
14.88
|
|
13.97
|
|
7
|
|
|
14.60
|
|
|
2
|
|
Tier 1
leverage capital ratio(3)
|
13.70
|
|
12.59
|
|
9
|
|
|
13.67
|
|
|
-
|
|
Total
risk-based capital ratio(3)
|
22.11
|
|
20.83
|
|
6
|
|
|
21.83
|
|
|
1
|
|
Net
interest margin (4)
|
4.63
|
|
4.65
|
|
-
|
|
|
4.75
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER
SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings per share
|
$
0.28
|
|
$
0.30
|
|
(7)
|
%
|
|
$
0.34
|
|
|
(18)
|
%
|
Diluted
earnings per share
|
0.27
|
|
0.29
|
|
(7)
|
|
|
0.33
|
|
|
(18)
|
|
Book value
at period end
|
19.33
|
|
17.74
|
|
9
|
|
|
19.03
|
|
|
2
|
|
Tangible
book value at period end
|
19.03
|
|
17.42
|
|
9
|
|
|
18.73
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER
SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding at period end
|
7,405,767
|
|
7,762,204
|
|
(5)
|
%
|
|
7,439,127
|
|
|
-
|
%
|
Weighted
average shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
6,668,780
|
|
6,952,952
|
|
(4)
|
%
|
|
6,770,286
|
|
|
(1)
|
%
|
Diluted
|
7,019,572
|
|
7,196,444
|
|
(2)
|
|
|
7,086,561
|
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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) 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,
2013
|
|
December
31, 2012
|
|
March 31,
2012
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT
QUALITY(1) (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$
8,105
|
|
$
15,225
|
|
$
23,330
|
|
|
$
9,579
|
|
$
12,368
|
|
$
21,947
|
|
|
$
10,456
|
|
$
15,759
|
|
$
26,215
|
|
Accruing
loans past due 90 days and over
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
Total
nonperforming loans
|
8,105
|
|
15,225
|
|
23,330
|
|
|
9,579
|
|
12,368
|
|
21,947
|
|
|
10,456
|
|
15,759
|
|
26,215
|
|
Other real
estate owned
|
3,517
|
|
3,612
|
|
7,129
|
|
|
2,683
|
|
3,771
|
|
6,454
|
|
|
5,168
|
|
2,675
|
|
7,843
|
|
Total
nonperforming assets
|
11,622
|
|
18,837
|
|
30,459
|
|
|
12,262
|
|
16,139
|
|
28,401
|
|
|
15,624
|
|
18,434
|
|
34,058
|
|
Performing
troubled debt restructurings
|
297
|
|
482
|
|
779
|
|
|
306
|
|
808
|
|
1,114
|
|
|
25
|
|
543
|
|
568
|
|
Total
nonperforming assets and troubled debt
restructurings
|
$ 11,919
|
|
$ 19,319
|
|
$ 31,238
|
|
|
$ 12,568
|
|
$ 16,947
|
|
$ 29,515
|
|
|
$ 15,649
|
|
$ 18,977
|
|
$ 34,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets to total assets
|
|
|
|
|
3.12
|
%
|
|
|
|
|
|
2.95
|
%
|
|
|
|
|
|
3.48
|
%
|
Nonperforming loans to total assets
|
|
|
|
|
2.39
|
|
|
|
|
|
|
2.28
|
|
|
|
|
|
|
2.68
|
|
Nonperforming loans to total loans
|
|
|
|
|
3.44
|
|
|
|
|
|
|
3.26
|
|
|
|
|
|
|
3.86
|
|
Allowance
for loan losses to nonperforming assets
|
|
|
|
|
18.63
|
|
|
|
|
|
|
18.73
|
|
|
|
|
|
|
17.07
|
|
Allowance
for loan losses to nonperforming loans
|
|
|
|
|
24.32
|
|
|
|
|
|
|
24.24
|
|
|
|
|
|
|
22.18
|
|
Allowance
for loan losses to total loans
|
|
|
|
|
0.84
|
|
|
|
|
|
|
0.79
|
|
|
|
|
|
|
0.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date loan charge-offs
|
|
|
|
|
$
189
|
|
|
|
|
|
|
$
2,325
|
|
|
|
|
|
|
$
15
|
|
Year-to-date loan recoveries
|
|
|
|
|
24
|
|
|
|
|
|
|
129
|
|
|
|
|
|
|
12
|
|
Year-to-date net loan charge-offs
|
|
|
|
|
$
165
|
|
|
|
|
|
|
$
2,196
|
|
|
|
|
|
|
$
3
|
|
Annualized
YTD net loan charge-offs to total loans
|
|
|
|
|
0.10
|
%
|
|
|
|
|
|
0.33
|
%
|
|
|
|
|
|
-
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 assets covered under FDIC loss sharing agreements. Such
assets covered by FDIC loss sharing agreements are referred to as
"Covered" assets. All other assets are referred to as
"Noncovered".
|
SOURCE Home Bancorp, Inc.