LAFAYETTE, La., Oct. 28, 2014 /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 $2.9 million for the third quarter of 2014, an
increase of $124,000, or 5%, compared
to the second quarter of 2014 and an increase of $394,000, or 16%, compared to the third quarter
of 2013. Diluted earnings per share were $0.41 for the third quarter of 2014, an increase
of $0.01, or 3% from the second
quarter of 2014 and an increase of $0.04, or 11%, compared to the third quarter of
2013.
"Although asset growth was tempered during the quarter, we
continue to be pleased with our prospects for additional customer
growth," stated John W. Bordelon,
President and Chief Executive Officer of the Company and the Bank.
"Our bankers are keenly focused on differentiating Home Bank by
adding value in our customers' businesses and personal
finances."
Loans and Credit Quality
Loans totaled $907.4 million at
September 30, 2014, a decrease of
$249,000 from June 30, 2014, and an increase of $226.5 million, or 33%, from September 30, 2013. The increase in loans
outstanding at September 30, 2014
compared to September 30, 2013,
primarily reflects our acquisition of Britton & Koontz Capital
Corporation ("Britton & Koontz") and its wholly owned
subsidiary, Britton & Koontz
Bank, N.A. (Britton & Koontz
Bank"), in February 2014. We acquired $298.7 million of total assets from Britton &
Koontz, including $162.2 million of
loans. During the third quarter of 2014, the decrease in our loan
portfolio related primarily to commercial real estate (down
$4.2 million), commercial and
industrial loans (down $1.2 million)
and home equity loans (down $925,000), which were offset by one- to
four-family first mortgage (up $3.9
million), consumer (up $1.3
million) and construction and land loans (up $695,000).
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)
|
|
2014
|
|
2013
|
|
Amount
|
Percent
|
|
Real estate
loans:
|
|
|
|
|
|
|
|
|
One- to four-family first
mortgage
|
$
|
234,316
|
$
|
179,506
|
$
|
54,810
|
31
|
%
|
Home equity loans and
lines
|
|
56,208
|
|
40,561
|
|
15,647
|
39
|
|
Commercial real
estate
|
|
329,621
|
|
269,849
|
|
59,772
|
22
|
|
Construction and
land
|
|
123,253
|
|
83,271
|
|
39,982
|
48
|
|
Multi-family
residential
|
|
22,465
|
|
16,578
|
|
5,887
|
36
|
|
Total real
estate loans
|
|
765,863
|
|
589,765
|
|
176,098
|
30
|
|
Other
loans:
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
95,535
|
|
77,533
|
|
18,002
|
23
|
|
Consumer
|
|
45,966
|
|
40,158
|
|
5,808
|
14
|
|
Total
other loans
|
|
141,501
|
|
117,691
|
|
23,810
|
20
|
|
Total
loans
|
$
|
907,364
|
$
|
707,456
|
$
|
199,908
|
28
|
%
|
Nonperforming assets ("NPAs") totaled $22.6 million at September
30, 2014, a decrease of $4.0
million compared to June 30,
2014 and a decrease of $4.9
million compared to September
30, 2013. $18.0 million
of the $22.6 million in NPAs at
September 30, 2014 relates to our
acquisitions of Statewide Bank, GS Financial Corp. and Britton
& Koontz. The ratio of our total NPAs to total assets was
1.79% at September 30, 2014, compared
to 2.11% at June 30, 2014 and 2.85%
at September 30, 2013.
Excluding acquired assets, the ratio of NPAs was 0.44% at
September 30, 2014, compared to 0.45%
at June 30, 2014 and 0.69% at
September 30, 2013.
The Company recorded net loan charge-offs of $1.2 million during the third quarter of 2014,
compared to net loan charge-offs of $157,000 in the second quarter of 2014 and
$84,000 in the third quarter of 2013,
respectively. The Company's provision for loan losses for the
third quarter of 2014 was $892,000,
compared to $811,000 for the second
quarter of 2014 and $453,000 for the
third quarter of 2013. The increase in net loan charge-offs
for the third quarter of 2014 resulted primarily from deterioration
in a single commercial and industrial loan relationship.
The ratio of allowance for loan losses to total loans was 0.82%
at September 30, 2014, compared to
0.85% and 0.95% at June 30, 2014 and
September 30, 2013,
respectively. Excluding acquired loans, the ratio of the
allowance for loan losses to total loans was 1.01% at September 30, 2014, compared to 1.10% and 1.09%
at June 30, 2014 and September 30, 2013,
respectively.
Investment Securities Portfolio
The Company's investment securities portfolio totaled
$192.5 million at September 30, 2014, an increase of $2.3 million, or 1%, from June 30, 2014, and an increase of $32.0 million, or 20%, from September 30, 2013. The increase compared to
September 30, 2013 resulted primarily
from the addition of securities acquired from Britton &
Koontz. At September 30, 2014,
the Company had a net unrealized gain position on its investment
securities portfolio of $1.4 million,
compared to net unrealized gains of $1.8
million and $1.1 million at
June 30, 2014 and September 30, 2013, respectively. The
Company's investment securities portfolio had a modified duration
of 3.8 years at September 30, 2014,
compared to 4.2 and 4.7 years at December
31, 2013 and September 30,
2013, respectively.
Deposits
Total deposits were $983.4 million
at September 30, 2014, an increase of
$1.6 million, or 0.2%, from
June 30, 2014, and an increase of
$217.6 million, or 28%, from
September 30, 2013. The
acquisition of Britton & Koontz added $216.6 million in deposits. During the
third quarter of 2014, core deposits (i.e., checking, savings and
money market accounts) increased $15.1
million, or 2%, from June 30,
2014, and increased $202.6
million, or 36%, from September
30, 2013. Core deposits acquired from Britton &
Koontz totaled $151.9 million at
acquisition
date.
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)
|
|
2014
|
|
2013
|
|
Amount
|
Percent
|
|
Demand
deposit
|
$
|
249,312
|
$
|
174,475
|
$
|
74,837
|
43
|
%
|
Savings
|
|
79,870
|
|
56,694
|
|
23,176
|
41
|
|
Money
market
|
|
224,721
|
|
192,303
|
|
32,418
|
17
|
|
NOW
|
|
205,182
|
|
125,391
|
|
79,791
|
64
|
|
Certificates of
deposit
|
|
224,302
|
|
192,449
|
|
31,853
|
17
|
|
Total
deposits
|
$
|
983,387
|
$
|
741,312
|
$
|
242,075
|
33
|
%
|
|
|
|
|
|
|
|
|
|
Net Interest Income
Net interest income for the third quarter of 2014 totaled
$13.2 million, an increase of
$111,000, or 1%, compared to the
second quarter of 2014, and an increase of $2.8 million, or 27%, compared to the third
quarter of 2013. The impact of the addition of Britton &
Koontz's earning assets accounted for the majority of the increase
from third quarter 2013 to third quarter 2014. The Company's net
interest margin was 4.63% for the third quarter of 2014, one basis
point lower than the second quarter of 2014 and 16 basis points
lower than the third quarter of 2013. The decrease in the net
interest margin in the third quarter 2014 compared to the third
quarter 2013 was primarily the result of the impact of Britton
& Koontz's interest-earning assets and interest-bearing
liabilities. The Covered Loan portfolio yielded 16.22% during
the third quarter of 2014, compared to 17.17% and 15.60% during the
second quarter of 2014 and third quarter of 2013,
respectively.
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,
2014
|
|
June 30,
2014
|
|
September 30,
2013
|
(dollars in
thousands)
|
|
Average
Balance
|
Average
Yield/Rate
|
|
Average
Balance
|
Average
Yield/Rate
|
|
Average
Balance
|
Average
Yield/Rate
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
receivable
|
$
|
904,216
|
5.70
|
%
|
$
|
898,123
|
5.72
|
%
|
$
|
676,639
|
6.07
|
%
|
Investment securities
(TE)
|
|
187,201
|
2.20
|
|
|
191,732
|
2.22
|
|
|
157,352
|
2.10
|
|
Other interest-earning
assets
|
|
40,094
|
0.41
|
|
|
40,828
|
0.46
|
|
|
27,293
|
0.47
|
|
Total interest-earning
assets
|
|
1,131,511
|
4.93
|
|
|
1,130,683
|
4.94
|
|
|
861,284
|
5.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings, checking, and
money market
|
|
505,458
|
0.23
|
|
|
493,892
|
0.23
|
|
|
389,773
|
0.24
|
|
Certificates of
deposit
|
|
228,446
|
0.73
|
|
|
241,107
|
0.70
|
|
|
215,745
|
0.90
|
|
Total interest-bearing
deposits
|
|
733,904
|
0.39
|
|
|
734,999
|
0.38
|
|
|
605,518
|
0.48
|
|
Securities sold
repurchase agreement
|
|
20,643
|
0.36
|
|
|
20,819
|
0.36
|
|
|
-
|
-
|
|
FHLB
advances
|
|
92,324
|
0.51
|
|
|
96,169
|
0.48
|
|
|
41,083
|
0.90
|
|
Total interest-bearing
liabilities
|
$
|
846,871
|
0.40
|
|
$
|
851,987
|
0.39
|
|
$
|
646,601
|
0.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest spread
(TE)
|
|
|
4.53
|
%
|
|
|
4.55
|
%
|
|
|
4.66
|
%
|
Net interest margin
(TE)
|
|
|
4.63
|
%
|
|
|
4.64
|
%
|
|
|
4.79
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
Noninterest income for the third quarter of 2014 totaled
$2.2 million, a decrease of
$92,000, or 4%, compared to the
second quarter of 2014 and an increase of $380,000, or 21%, compared to the third quarter
of 2013. The decrease in noninterest income in the third
quarter of 2014 compared to the second quarter of 2014 resulted
primarily from lower gains on the sale of mortgage loans (down
$130,000), which was partially offset
by increases in service fees and charges (up $31,000).
The increase in noninterest income in the third quarter of 2014
compared to the third quarter of 2013 resulted primarily from
increases in service fees and charges (up $266,000) and bank card fees (up $130,000) due primarily to the Britton &
Koontz acquisition and increased customer transactions.
Noninterest Expense
Noninterest expense for the third quarter of 2014 totaled
$10.0 million, a decrease of
$402,000, or 4%, compared to the
second quarter of 2014 and an increase of $2.0 million, or 25%, compared to the third
quarter of 2013. The decrease in noninterest expense in the third
quarter of 2014 compared to the second quarter of 2014 resulted
primarily from lower expenses on foreclosed assets (down
$227,000), other expense (down
$143,000 primarily from the absence
of contract cancellation expense from the Britton & Koontz
acquisition) and data processing and communications (down
$96,000), which were partially offset
by increases in compensation and benefits (up $73,000).
The increase in noninterest expense for the third quarter of
2014 compared to the third quarter of 2013 primarily relates to the
growth of the Company's branch network due to the addition of
Britton & Koontz branches and employees.
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. 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,
2013, 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,
|
|
2014
|
|
2013
|
|
Change
|
|
|
2014
|
2013
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$ 54,620,690
|
|
$ 35,953,034
|
|
52
|
%
|
|
$ 56,326,293
|
$ 32,638,900
|
Interest-bearing
deposits in banks
|
5,771,000
|
|
3,185,000
|
|
81
|
|
|
5,771,000
|
2,940,000
|
Investment securities
available for sale, at fair value
|
181,238,080
|
|
151,453,721
|
|
20
|
|
|
179,201,896
|
149,632,153
|
Investment securities
held to maturity
|
11,211,745
|
|
8,965,112
|
|
25
|
|
|
10,983,829
|
9,404,790
|
Mortgage loans held
for sale
|
7,397,081
|
|
1,711,585
|
|
332
|
|
|
5,700,222
|
1,951,345
|
Loans covered by loss
sharing agreements
|
18,492,286
|
|
23,723,936
|
|
(22)
|
|
|
19,335,355
|
21,673,808
|
Noncovered loans, net
of unearned income
|
888,872,055
|
|
657,150,445
|
|
35
|
|
|
888,277,680
|
685,782,309
|
Total loans
|
907,364,341
|
|
680,874,381
|
|
33
|
|
|
907,613,035
|
707,456,117
|
Allowance for loan
losses
|
(7,418,243)
|
|
(6,462,841)
|
|
15
|
|
|
(7,757,944)
|
(6,918,009)
|
Total loans, net of
allowance for loan losses
|
899,946,098
|
|
674,411,540
|
|
33
|
|
|
899,855,091
|
700,538,108
|
FDIC loss sharing
receivable
|
6,449,226
|
|
13,576,606
|
|
(53)
|
|
|
8,142,745
|
12,698,077
|
Office properties and
equipment, net
|
38,217,660
|
|
30,312,996
|
|
26
|
|
|
37,538,630
|
30,702,635
|
Cash surrender value
of bank-owned life insurance
|
19,047,294
|
|
17,638,008
|
|
8
|
|
|
18,930,780
|
17,750,604
|
Accrued interest
receivable and other assets
|
35,847,211
|
|
24,688,760
|
|
45
|
|
|
36,558,809
|
25,984,346
|
Total
Assets
|
$ 1,259,746,085
|
|
$ 961,896,362
|
|
31
|
|
|
$ 1,259,009,295
|
$ 984,240,958
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
$ 983,386,883
|
|
$ 765,810,312
|
|
28
|
%
|
|
$ 981,740,632
|
$ 741,312,416
|
Securities sold under
repurchase agreement
|
20,540,654
|
|
-
|
|
-
|
|
|
20,710,415
|
-
|
Federal Home Loan
Bank advances
|
95,000,875
|
|
50,900,000
|
|
87
|
|
|
102,531,304
|
97,000,000
|
Accrued interest
payable and other liabilities
|
9,699,673
|
|
4,965,371
|
|
95
|
|
|
5,951,205
|
4,019,013
|
Total
Liabilities
|
1,108,628,085
|
|
821,675,683
|
|
35
|
|
|
1,110,933,556
|
842,331,429
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
Common
stock
|
89,968
|
|
89,579
|
|
-
|
%
|
|
89,771
|
89,585
|
Additional paid-in
capital
|
93,025,616
|
|
91,743,191
|
|
1
|
|
|
92,667,831
|
92,192,410
|
Treasury
stock
|
(28,502,198)
|
|
(28,003,896)
|
|
2
|
|
|
(28,448,439)
|
(28,011,398)
|
Common stock acquired
by benefit plans
|
(5,223,134)
|
|
(6,376,957)
|
|
(18)
|
|
|
(5,333,648)
|
(6,285,327)
|
Retained
earnings
|
90,791,742
|
|
82,023,494
|
|
11
|
|
|
87,915,224
|
83,729,144
|
Accumulated other
comprehensive income
|
936,006
|
|
745,268
|
|
26
|
|
|
1,185,000
|
195,115
|
Total
Shareholders' Equity
|
151,118,000
|
|
140,220,679
|
|
8
|
|
|
148,075,739
|
141,909,529
|
Total Liabilities
and Shareholders' Equity
|
$ 1,259,746,085
|
|
$ 961,896,362
|
|
31
|
|
|
$ 1,259,009,295
|
$ 984,240,958
|
HOME BANCORP, INC.
AND SUBSIDIARY
|
CONDENSED
STATEMENTS OF INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
|
|
|
For The Nine
Months Ended
|
|
|
|
|
September
30,
|
%
|
|
|
September
30,
|
|
%
|
|
|
2014
|
2013
|
|
Change
|
|
|
2014
|
2013
|
|
Change
|
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
fees
|
$ 13,090,209
|
$
10,438,505
|
|
25
|
%
|
|
$ 37,497,393
|
$ 30,578,885
|
|
23
|
%
|
Investment
securities
|
936,379
|
754,902
|
|
24
|
|
|
2,957,544
|
2,278,112
|
|
30
|
|
Other investments and
deposits
|
41,723
|
32,471
|
|
29
|
|
|
119,403
|
96,077
|
|
24
|
|
Total interest
income
|
14,068,311
|
11,225,878
|
|
25
|
|
|
40,574,340
|
32,953,074
|
|
23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
718,367
|
729,941
|
|
(2)
|
%
|
|
2,044,983
|
2,410,621
|
|
(15)
|
%
|
Securities sold under
repurchase agreements
|
18,838
|
-
|
|
-
|
|
|
54,147
|
-
|
|
-
|
|
Federal Home Loan
Bank advances
|
118,522
|
92,610
|
|
28
|
|
|
350,003
|
358,806
|
|
(3)
|
|
Total interest
expense
|
855,727
|
822,551
|
|
4
|
|
|
2,449,133
|
2,769,427
|
|
(12)
|
|
Net interest
income
|
13,212,584
|
10,403,327
|
|
27
|
|
|
38,125,207
|
30,183,647
|
|
26
|
|
Provision for loan
losses
|
891,989
|
453,133
|
|
97
|
|
|
1,847,958
|
3,221,326
|
|
(43)
|
|
Net interest income
after provision for loan losses
|
12,320,595
|
9,950,194
|
|
24
|
|
|
36,277,249
|
26,962,321
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
Income
|
|
|
|
|
|
|
|
|
|
|
|
Service fees and
charges
|
1,008,416
|
741,983
|
|
36
|
%
|
|
2,781,487
|
1,984,049
|
|
40
|
%
|
Bank card
fees
|
576,105
|
445,784
|
|
29
|
|
|
1,601,221
|
1,314,299
|
|
22
|
|
Gain on sale of
loans, net
|
308,708
|
314,626
|
|
(2)
|
|
|
909,173
|
1,289,487
|
|
(30)
|
|
Income from
bank-owned life insurance
|
116,513
|
114,473
|
|
2
|
|
|
342,347
|
351,575
|
|
(3)
|
|
Gain on the sale of
securities, net
|
-
|
-
|
|
-
|
|
|
1,826
|
428,200
|
|
(100)
|
|
Discount accretion of
FDIC loss sharing receivable
|
54,873
|
111,066
|
|
(51)
|
|
|
205,749
|
334,913
|
|
(39)
|
|
Other
income
|
96,000
|
52,215
|
|
84
|
|
|
226,938
|
170,351
|
|
33
|
|
Total noninterest
income
|
2,160,615
|
1,780,147
|
|
21
|
|
|
6,068,741
|
5,872,874
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and
benefits
|
5,785,428
|
5,017,628
|
|
15
|
%
|
|
18,292,578
|
14,993,975
|
|
22
|
%
|
Occupancy
|
1,213,874
|
914,187
|
|
33
|
|
|
3,419,434
|
2,642,463
|
|
29
|
|
Marketing and
advertising
|
244,364
|
152,270
|
|
61
|
|
|
695,823
|
563,793
|
|
23
|
|
Data processing and
communication
|
964,541
|
574,364
|
|
68
|
|
|
3,396,596
|
1,842,036
|
|
84
|
|
Professional
fees
|
210,459
|
217,657
|
|
(3)
|
|
|
925,961
|
623,909
|
|
48
|
|
Forms, printing and
supplies
|
135,840
|
86,965
|
|
56
|
|
|
499,060
|
329,762
|
|
51
|
|
Franchise and shares
tax
|
184,385
|
272,960
|
|
(32)
|
|
|
553,156
|
819,540
|
|
(33)
|
|
Regulatory
fees
|
306,724
|
225,175
|
|
36
|
|
|
790,763
|
668,059
|
|
18
|
|
Foreclosed assets,
net
|
91,836
|
90,982
|
|
1
|
|
|
772,972
|
236,740
|
|
227
|
|
Other
expenses
|
830,629
|
451,767
|
|
84
|
|
|
2,248,952
|
1,710,201
|
|
32
|
|
Total noninterest
expense
|
9,968,080
|
8,003,955
|
|
25
|
|
|
31,595,295
|
24,430,478
|
|
29
|
|
Income before income
tax expense
|
4,513,130
|
3,726,386
|
|
21
|
|
|
10,750,695
|
8,404,717
|
|
28
|
|
Income tax
expense
|
1,636,613
|
1,243,639
|
|
32
|
|
|
3,688,098
|
2,816,445
|
|
31
|
|
Net income
|
$ 2,876,517
|
$
2,482,747
|
|
16
|
|
|
$ 7,062,597
|
$ 5,588,272
|
|
26
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share -
basic
|
$
0.44
|
$
0.38
|
|
16
|
%
|
|
$
1.08
|
$
0.84
|
|
29
|
%
|
Earnings per share -
diluted
|
$
0.41
|
$
0.37
|
|
11
|
|
|
$
1.02
|
$
0.80
|
|
28
|
|
HOME BANCORP, INC.
AND SUBSIDIARY
|
SUMMARY FINANCIAL
INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
|
|
|
For The
Three
|
|
|
|
|
|
September
30,
|
|
%
|
|
|
Months
Ended
|
|
|
%
|
|
|
2014
|
|
2013
|
|
Change
|
|
|
June 30,
2014
|
|
|
Change
|
|
(dollars in
thousands except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest
income
|
$ 14,068
|
|
$ 11,226
|
|
25
|
%
|
|
$
13,940
|
|
|
1
|
%
|
Total interest
expense
|
856
|
|
823
|
|
4
|
|
|
839
|
|
|
2
|
|
Net interest
income
|
13,212
|
|
10,403
|
|
27
|
|
|
13,101
|
|
|
1
|
|
Provision for loan
losses
|
892
|
|
453
|
|
97
|
|
|
811
|
|
|
10
|
|
Total noninterest
income
|
2,161
|
|
1,780
|
|
21
|
|
|
2,252
|
|
|
(4)
|
|
Total noninterest
expense
|
9,968
|
|
8,004
|
|
25
|
|
|
10,370
|
|
|
(4)
|
|
Income tax
expense
|
1,636
|
|
1,243
|
|
32
|
|
|
1,420
|
|
|
15
|
|
Net income
|
$ 2,877
|
|
$ 2,483
|
|
16
|
|
|
$
2,752
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCE
SHEET DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$ 1,242,370
|
|
$958,560
|
|
30
|
%
|
|
$
1,246,300
|
|
|
(0)
|
%
|
Total
interest-earning assets
|
1,131,511
|
|
861,284
|
|
31
|
|
|
1,130,683
|
|
|
0
|
|
Totals
loans
|
904,216
|
|
676,639
|
|
34
|
|
|
898,123
|
|
|
1
|
|
Total
interest-bearing deposits
|
733,904
|
|
605,518
|
|
21
|
|
|
734,999
|
|
|
(0)
|
|
Total
interest-bearing liabilities
|
846,871
|
|
646,601
|
|
31
|
|
|
851,987
|
|
|
(1)
|
|
Total
deposits
|
979,711
|
|
776,556
|
|
26
|
|
|
982,371
|
|
|
(0)
|
|
Total shareholders'
equity
|
150,087
|
|
139,060
|
|
8
|
|
|
146,807
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
0.93
|
%
|
1.04
|
%
|
(11)
|
%
|
|
0.88
|
%
|
|
6
|
%
|
Return on average
equity
|
7.67
|
|
7.14
|
|
7
|
|
|
7.50
|
|
|
2
|
|
Efficiency ratio
(2)
|
64.84
|
|
65.70
|
|
(1)
|
|
|
67.54
|
|
|
(4)
|
|
Average equity to
average assets
|
12.08
|
|
14.51
|
|
(17)
|
|
|
11.78
|
|
|
3
|
|
Tier 1 leverage
capital ratio(3)
|
11.34
|
|
14.29
|
|
(21)
|
|
|
11.11
|
|
|
2
|
|
Total risk-based
capital ratio(3)
|
17.53
|
|
22.33
|
|
(22)
|
|
|
17.20
|
|
|
2
|
|
Net interest margin
(4)
|
4.63
|
|
4.79
|
|
(3)
|
|
|
4.64
|
|
|
(0)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per
share
|
$ 0.44
|
|
$ 0.38
|
|
16
|
%
|
|
$
0.42
|
|
|
5
|
%
|
Diluted earnings per
share
|
0.41
|
|
0.37
|
|
11
|
|
|
0.40
|
|
|
3
|
|
Book value at period
end
|
21.23
|
|
19.75
|
|
8
|
|
|
20.86
|
|
|
2
|
|
Tangible book value
at period end
|
20.57
|
|
19.47
|
|
6
|
|
|
20.20
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at
period end
|
7,114,516
|
|
7,099,164
|
|
0
|
%
|
|
7,097,270
|
|
|
0
|
%
|
Weighted average
shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
6,577,378
|
|
6,481,911
|
|
2
|
%
|
|
6,532,620
|
|
|
1
|
%
|
Diluted
|
6,950,916
|
|
6,768,578
|
|
3
|
|
|
6,903,323
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2014
|
|
June 30,
2014
|
|
September 30,
2013
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
(dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT
QUALITY(1) (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$ 3,432
|
|
$ 11,785
|
|
$ 15,217
|
|
|
$ 4,376
|
|
$ 15,222
|
|
$ 19,598
|
|
|
$ 5,807
|
|
$ 15,784
|
|
$ 21,591
|
|
Accruing loans past
due 90 days and over
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
Total nonperforming
loans
|
3,432
|
|
11,785
|
|
15,217
|
|
|
4,376
|
|
15,222
|
|
19,598
|
|
|
5,807
|
|
15,784
|
|
21,591
|
|
Foreclosed
assets
|
2,195
|
|
5,151
|
|
7,346
|
|
|
2,677
|
|
4,255
|
|
6,932
|
|
|
3,064
|
|
2,786
|
|
5,850
|
|
Total nonperforming
assets
|
5,627
|
|
16,936
|
|
22,563
|
|
|
7,053
|
|
19,477
|
|
26,530
|
|
|
8,871
|
|
18,570
|
|
27,441
|
|
Performing troubled
debt restructurings
|
3
|
|
732
|
|
735
|
|
|
3
|
|
212
|
|
215
|
|
|
6
|
|
437
|
|
443
|
|
Total nonperforming
assets and troubled
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt
restructurings
|
$ 5,630
|
|
$ 17,668
|
|
$ 23,298
|
|
|
$ 7,056
|
|
$ 19,689
|
|
$ 26,745
|
|
|
$ 8,877
|
|
$ 19,007
|
|
$ 27,884
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets
to total assets
|
|
|
|
|
1.79
|
%
|
|
|
|
|
|
2.11
|
%
|
|
|
|
|
|
2.85
|
%
|
Nonperforming loans
to total assets
|
|
|
|
|
1.21
|
|
|
|
|
|
|
1.56
|
|
|
|
|
|
|
2.24
|
|
Nonperforming loans
to total loans
|
|
|
|
|
1.68
|
|
|
|
|
|
|
2.16
|
|
|
|
|
|
|
3.17
|
|
Allowance for loan
losses to nonperforming assets
|
|
|
|
|
32.88
|
|
|
|
|
|
|
29.24
|
|
|
|
|
|
|
23.55
|
|
Allowance for loan
losses to nonperforming loans
|
|
|
|
|
48.75
|
|
|
|
|
|
|
39.58
|
|
|
|
|
|
|
29.93
|
|
Allowance for loan
losses to total loans
|
|
|
|
|
0.82
|
|
|
|
|
|
|
0.85
|
|
|
|
|
|
|
0.95
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date loan
charge-offs
|
|
|
|
|
$ 1,434
|
|
|
|
|
|
|
$ 197
|
|
|
|
|
|
|
$ 2,135
|
|
Year-to-date loan
recoveries
|
|
|
|
|
86
|
|
|
|
|
|
|
81
|
|
|
|
|
|
|
58
|
|
Year-to-date net loan
charge-offs (recoveries)
|
|
|
|
|
$ 1,348
|
|
|
|
|
|
|
$ 116
|
|
|
|
|
|
|
$ 2,077
|
|
Annualized YTD net
loan charge-offs to total loans
|
|
|
|
|
0.20
|
%
|
|
|
|
|
|
0.03
|
%
|
|
|
|
|
|
0.41
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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".
|
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SOURCE Home Bancorp, Inc.