LAFAYETTE, La., Aug. 31, 2020 /PRNewswire/ -- Home Bancorp, Inc.
(Nasdaq: "HBCP") (the "Company"), the parent company for Home Bank,
N.A. (the "Bank") (www.home24bank.com), announced that the Board of
Directors approved a new share repurchase plan (the "2020
Repurchase Plan"). Under the 2020 Repurchase Plan, the
Company may purchase up to 444,000 shares, or approximately 5% of
the Company's outstanding common stock. Share repurchases
under the 2020 Repurchase Plan may commence upon the completion of
the Company's 2019 Repurchase Plan. There are 21,063 shares
remaining that may be repurchased under the 2019 Repurchase
Plan. The repurchase plans do not include specific
price targets and may be executed through the open market or
privately-negotiated transactions depending upon market conditions
and other factors. The repurchase plans have no time limit
and may be suspended or discontinued at any time.
About Home Bancorp
Home Bancorp, Inc. is the parent
company for Home Bank, N. A., a national bank headquartered in
Lafayette, Louisiana. Home Bank,
founded in 1908 as Home Building & Loan, is the oldest
financial institution founded in Lafayette Parish.
With 40 locations across South
Louisiana and Western
Mississippi, Home Bank is committed to serving the needs of
its customers and communities. Customer relationships have always
been Home Bank's trademark and that tradition continues as we grow,
invest and serve our customers and communities. For more
information about Home Bank, visit www.home24bank.com.
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,
2019, 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.
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SOURCE Home Bancorp, Inc.