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.
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| September 30, |
| December 31, |
| Increase/(Decrease) |
|
(dollars in thousands) |
| 2014 |
| 2013 |
| Amount | Percent |
|
Real estate loans: |
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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: |
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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.
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| September 30, |
| December31, |
| Increase / (Decrease) |
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(dollars in thousands) |
| 2014 |
| 2013 |
| Amount | Percent |
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Demand deposit | $ | 249,312 | $ | 174,475 | $ | 74,837 | 43 | % |
Savings |
| 79,870 |
| 56,694 |
| 23,176 | 41 |
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Money market |
| 224,721 |
| 192,303 |
| 32,418 | 17 |
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NOW |
| 205,182 |
| 125,391 |
| 79,791 | 64 |
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Certificates of deposit |
| 224,302 |
| 192,449 |
| 31,853 | 17 |
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Total deposits | $ | 983,387 | $ | 741,312 | $ | 242,075 | 33 | % |
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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%.
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| 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: |
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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 |
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Other interest-earning assets |
| 40,094 | 0.41 |
|
| 40,828 | 0.46 |
|
| 27,293 | 0.47 |
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Total interest-earning assets |
| 1,131,511 | 4.93 |
|
| 1,130,683 | 4.94 |
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| 861,284 | 5.17 |
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Interest-bearing liabilities: |
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Deposits: |
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Savings, checking, and money market |
| 505,458 | 0.23 |
|
| 493,892 | 0.23 |
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| 389,773 | 0.24 |
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Certificates of deposit |
| 228,446 | 0.73 |
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| 241,107 | 0.70 |
|
| 215,745 | 0.90 |
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Total interest-bearing deposits |
| 733,904 | 0.39 |
|
| 734,999 | 0.38 |
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| 605,518 | 0.48 |
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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 |
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Total interest-bearing liabilities | $ | 846,871 | 0.40 |
| $ | 851,987 | 0.39 |
| $ | 646,601 | 0.51 |
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Net interest spread (TE) |
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| 4.53 | % |
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| 4.55 | % |
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| 4.66 | % |
Net interest margin (TE) |
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| 4.63 | % |
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| 4.64 | % |
|
| 4.79 | % |
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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 |
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| September 30, |
| September 30, |
| % |
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| June 30, | December 31, |
| 2014 |
| 2013 |
| Change |
|
| 2014 | 2013 |
Assets |
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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 |
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Liabilities |
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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 |
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Shareholders' Equity |
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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 |
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| For The Three Months Ended |
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| For The Nine Months Ended |
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| September 30, | % |
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| September 30, |
| % |
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| 2014 | 2013 |
| Change |
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| 2014 | 2013 |
| Change |
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Interest Income |
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Loans, including fees | $ 13,090,209 | $ 10,438,505 |
| 25 | % |
| $ 37,497,393 | $ 30,578,885 |
| 23 | % |
Investment securities | 936,379 | 754,902 |
| 24 |
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| 2,957,544 | 2,278,112 |
| 30 |
|
Other investments and deposits | 41,723 | 32,471 |
| 29 |
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| 119,403 | 96,077 |
| 24 |
|
Total interest income | 14,068,311 | 11,225,878 |
| 25 |
|
| 40,574,340 | 32,953,074 |
| 23 |
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Interest Expense |
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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 |
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| 36,277,249 | 26,962,321 |
| 35 |
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Noninterest Income |
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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 |
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Gain on sale of loans, net | 308,708 | 314,626 |
| (2) |
|
| 909,173 | 1,289,487 |
| (30) |
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Income from bank-owned life insurance | 116,513 | 114,473 |
| 2 |
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| 342,347 | 351,575 |
| (3) |
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Gain on the sale of securities, net | - | - |
| - |
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| 1,826 | 428,200 |
| (100) |
|
Discount accretion of FDIC loss sharing receivable | 54,873 | 111,066 |
| (51) |
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| 205,749 | 334,913 |
| (39) |
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Other income | 96,000 | 52,215 |
| 84 |
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| 226,938 | 170,351 |
| 33 |
|
Total noninterest income | 2,160,615 | 1,780,147 |
| 21 |
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| 6,068,741 | 5,872,874 |
| 3 |
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Noninterest Expense |
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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 |
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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 |
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| For The Three Months Ended |
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| For The Three |
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| September 30, |
| % |
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| Months Ended |
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| % |
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| 2014 |
| 2013 |
| Change |
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| June 30, 2014 |
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| Change |
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(dollars in thousands except per share data) |
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EARNINGS DATA |
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Total interest income | $ 14,068 |
| $ 11,226 |
| 25 | % |
| $ 13,940 |
|
| 1 | % |
Total interest expense | 856 |
| 823 |
| 4 |
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| 839 |
|
| 2 |
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Net interest income | 13,212 |
| 10,403 |
| 27 |
|
| 13,101 |
|
| 1 |
|
Provision for loan losses | 892 |
| 453 |
| 97 |
|
| 811 |
|
| 10 |
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Total noninterest income | 2,161 |
| 1,780 |
| 21 |
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| 2,252 |
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| (4) |
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Total noninterest expense | 9,968 |
| 8,004 |
| 25 |
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| 10,370 |
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| (4) |
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Income tax expense | 1,636 |
| 1,243 |
| 32 |
|
| 1,420 |
|
| 15 |
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Net income | $ 2,877 |
| $ 2,483 |
| 16 |
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| $ 2,752 |
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| 5 |
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AVERAGE BALANCE SHEET DATA |
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Total assets | $ 1,242,370 |
| $958,560 |
| 30 | % |
| $ 1,246,300 |
|
| (0) | % |
Total interest-earning assets | 1,131,511 |
| 861,284 |
| 31 |
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| 1,130,683 |
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| 0 |
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Totals loans | 904,216 |
| 676,639 |
| 34 |
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| 898,123 |
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| 1 |
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Total interest-bearing deposits | 733,904 |
| 605,518 |
| 21 |
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| 734,999 |
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| (0) |
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Total interest-bearing liabilities | 846,871 |
| 646,601 |
| 31 |
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| 851,987 |
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| (1) |
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Total deposits | 979,711 |
| 776,556 |
| 26 |
|
| 982,371 |
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| (0) |
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Total shareholders' equity | 150,087 |
| 139,060 |
| 8 |
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| 146,807 |
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| 2 |
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SELECTED RATIOS (1) |
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Return on average assets | 0.93 | % | 1.04 | % | (11) | % |
| 0.88 | % |
| 6 | % |
Return on average equity | 7.67 |
| 7.14 |
| 7 |
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| 7.50 |
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| 2 |
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Efficiency ratio (2) | 64.84 |
| 65.70 |
| (1) |
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| 67.54 |
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| (4) |
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Average equity to average assets | 12.08 |
| 14.51 |
| (17) |
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| 11.78 |
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| 3 |
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Tier 1 leverage capital ratio(3) | 11.34 |
| 14.29 |
| (21) |
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| 11.11 |
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| 2 |
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Total risk-based capital ratio(3) | 17.53 |
| 22.33 |
| (22) |
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| 17.20 |
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| 2 |
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Net interest margin (4) | 4.63 |
| 4.79 |
| (3) |
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| 4.64 |
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| (0) |
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PER SHARE DATA |
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Basic earnings per share | $ 0.44 |
| $ 0.38 |
| 16 | % |
| $ 0.42 |
|
| 5 | % |
Diluted earnings per share | 0.41 |
| 0.37 |
| 11 |
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| 0.40 |
|
| 3 |
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Book value at period end | 21.23 |
| 19.75 |
| 8 |
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| 20.86 |
|
| 2 |
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Tangible book value at period end | 20.57 |
| 19.47 |
| 6 |
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| 20.20 |
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| 2 |
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PER SHARE DATA |
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Shares outstanding at period end | 7,114,516 |
| 7,099,164 |
| 0 | % |
| 7,097,270 |
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| 0 | % |
Weighted average shares outstanding |
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Basic | 6,577,378 |
| 6,481,911 |
| 2 | % |
| 6,532,620 |
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| 1 | % |
Diluted | 6,950,916 |
| 6,768,578 |
| 3 |
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| 6,903,323 |
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| 1 |
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(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 |
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| September 30, 2014 |
| June 30, 2014 |
| September 30, 2013 |
| Covered | Noncovered | Total |
| Covered | Noncovered | Total |
| Covered | Noncovered | Total |
(dollars in thousands) |
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CREDIT QUALITY(1) (2) |
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Nonaccrual loans | $ 3,432 |
| $ 11,785 |
| $ 15,217 |
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| $ 4,376 |
| $ 15,222 |
| $ 19,598 |
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| $ 5,807 |
| $ 15,784 |
| $ 21,591 |
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Accruing loans past due 90 days and over | - |
| - |
| - |
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| - |
| - |
| - |
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| - |
| - |
| - |
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Total nonperforming loans | 3,432 |
| 11,785 |
| 15,217 |
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| 4,376 |
| 15,222 |
| 19,598 |
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| 5,807 |
| 15,784 |
| 21,591 |
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Foreclosed assets | 2,195 |
| 5,151 |
| 7,346 |
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| 2,677 |
| 4,255 |
| 6,932 |
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| 3,064 |
| 2,786 |
| 5,850 |
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Total nonperforming assets | 5,627 |
| 16,936 |
| 22,563 |
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| 7,053 |
| 19,477 |
| 26,530 |
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| 8,871 |
| 18,570 |
| 27,441 |
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Performing troubled debt restructurings | 3 |
| 732 |
| 735 |
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| 3 |
| 212 |
| 215 |
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| 6 |
| 437 |
| 443 |
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Total nonperforming assets and troubled |
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debt restructurings | $ 5,630 |
| $ 17,668 |
| $ 23,298 |
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| $ 7,056 |
| $ 19,689 |
| $ 26,745 |
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| $ 8,877 |
| $ 19,007 |
| $ 27,884 |
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Nonperforming assets to total assets |
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| 1.79 | % |
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| 2.11 | % |
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| 2.85 | % |
Nonperforming loans to total assets |
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| 1.21 |
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| 1.56 |
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| 2.24 |
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Nonperforming loans to total loans |
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| 1.68 |
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| 2.16 |
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| 3.17 |
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Allowance for loan losses to nonperforming assets |
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| 32.88 |
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| 29.24 |
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| 23.55 |
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Allowance for loan losses to nonperforming loans |
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| 48.75 |
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| 39.58 |
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| 29.93 |
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Allowance for loan losses to total loans |
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| 0.82 |
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| 0.85 |
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| 0.95 |
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Year-to-date loan charge-offs |
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| $ 1,434 |
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| $ 197 |
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| $ 2,135 |
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Year-to-date loan recoveries |
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| 86 |
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| 81 |
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| 58 |
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Year-to-date net loan charge-offs (recoveries) |
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| $ 1,348 |
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| $ 116 |
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| $ 2,077 |
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Annualized YTD net loan charge-offs to total loans |
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| 0.20 | % |
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| 0.03 | % |
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| 0.41 | % |
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(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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CONTACT: John W. Bordelon, President and CEO (337) 237-1960