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

Rhea-AI Summary

Home Bancorp, Inc. (HBCP) reported a net income of $10.8 million or $1.32 per diluted share for Q4 2022, reflecting a sequential increase. Total loans reached $2.4 billion, up 6% from Q3 2022, with a significant 22% annualized growth excluding PPP loans. The net interest margin (NIM) improved to 4.38%, driven by a 4% rise in net interest income to $33.3 million. However, total deposits decreased by 4% to $2.6 billion. The company declared a quarterly dividend of $0.25 per share and repurchased shares under its ongoing repurchase plans.

Positive

• Net income increased to $10.8 million for Q4 2022, up from $10.4 million in Q3.
• Total loans rose by $127.5 million, marking a 6% increase from the previous quarter.
• Net interest income grew by 4% to $33.3 million.
• Net interest margin improved by 27 basis points to 4.38%.
• The company continues to attract new customers, highlighting successful growth.

Negative

• Total deposits fell by $105.2 million, or 4%, from Q3 2022.

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

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

Fourth Quarter 2022 Highlights

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

Loans

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

		December 31,		September 30,		Increase (Decrease)
(dollars in thousands)		2022		2022		Amount		Percent
Real estate loans:
One- to four-family first mortgage		$                389,616		$                376,028		$                  13,588		4 %
Home equity loans and lines		61,863		60,624		1,239		2
Commercial real estate		1,152,537		1,086,656		65,881		6
Construction and land		313,175		328,753		(15,578)		(5)
Multi-family residential		100,588		97,212		3,376		3
Total real estate loans		2,017,779		1,949,273		68,506		4
Other loans:
Commercial and industrial		377,894		320,900		56,994		18
Consumer		35,077		33,106		1,971		6
Total other loans		412,971		354,006		58,965		17
Total loans		$            2,430,750		$             2,303,279		$                127,471		6 %

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

Credit Quality and Allowance for Credit Losses

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

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

Deposits

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

		December 31,		September 30,		Increase/(Decrease)
(dollars in thousands)		2022		2022		Amount		Percent
Demand deposits		$                  904,301		$                  921,089		$                  (16,788)		(2) %
Savings		305,871		325,594		(19,723)		(6)
Money market		423,990		452,474		(28,484)		(6)
NOW		663,574		686,592		(23,018)		(3)
Certificates of deposit		335,445		352,675		(17,230)		(5)
Total deposits		$               2,633,181		$               2,738,424		$                (105,243)		(4) %

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

Net Interest Income

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

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

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

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

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

The following table summarizes the Company's average volume and rate of its interest-earning assets and interest-bearing liabilities for the periods indicated. Taxable equivalent ("TE") yields on investment securities have been calculated using a marginal tax rate of 21%.

		For the Three Months Ended
		December 31, 2022						September 30, 2022
(dollars in thousands)		Average Balance		Interest		Average Yield/ Rate		Average Balance		Interest		Average Yield/ Rate
Interest-earning assets:
Loans receivable		$     2,374,065		$          32,826		5.43 %		$     2,265,846		$          29,859		5.17 %
Investment securities (TE)		549,961		3,214		2.37		532,300		2,958		2.25
Other interest-earning assets		62,240		555		3.54		262,127		1,447		2.19
Total interest-earning assets		$     2,986,266		$          36,595		4.82 %		$     3,060,273		$          34,264		4.41 %
Interest-bearing liabilities:
Deposits:
Savings, checking, and money market		$     1,431,577		$            1,463		0.41 %		$     1,522,350		$               876		0.23 %
Certificates of deposit		338,389		486		0.57		371,925		394		0.42
Total interest-bearing deposits		1,769,966		1,949		0.44		1,894,275		1,270		0.27
Other borrowings		5,539		53		3.80		5,539		53		3.80
Subordinated debt		53,984		855		6.33		53,943		859		6.37
FHLB advances		54,620		456		3.28		24,977		105		1.68
Total interest-bearing liabilities		$     1,884,109		$            3,313		0.70 %		$     1,978,734		$            2,287		0.46 %
Net interest spread (TE)						4.12 %						3.95 %
Net interest margin (TE)						4.38 %						4.11 %

Noninterest Expense

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

Dividend and Share Repurchases

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

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

Non-GAAP Reconciliation 

This news release contains financial information determined by methods other than in accordance with generally accepted accounting principles ("GAAP"). The Company's management uses this non-GAAP financial information in its analysis of the Company's performance. In this news release, information is included which excludes intangible assets and PPP loans. Management believes the presentation of this non-GAAP financial information provides useful information that is helpful to a full understanding of the Company's financial position and operating results. This non-GAAP financial information should not be viewed as a substitute for financial information determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP financial information presented by other companies. A reconciliation of non-GAAP information included herein to GAAP is presented below.

		For the Three Months Ended
(dollars in thousands, except per share data)		December 31, 2022		September 30, 2022		December 31, 2021
Reported net income		$            10,776		$            10,434		$            10,238
Add: Core deposit intangible amortization, net tax		350		358		221
Non-GAAP tangible income		$            11,126		$            10,792		$            10,459
Reported loan income		$            32,826		$            29,859		$            24,215
Less: PPP loan income		26		132		2,201
Loan income excluding PPP loan income		$            32,800		$            29,727		$            22,014
Loan yield		5.43 %		5.17 %		5.12 %
Negative (positive) impact of PPP loans		0.01		—		(0.29)
Loan yield excluding PPP loans		5.44 %		5.17 %		4.83 %
Net interest margin		4.38 %		4.11 %		3.53 %
Negative (positive) impact of PPP loans		0.01		—		(0.24)
Net interest margin excluding PPP loans		4.39 %		4.11 %		3.29 %
Total assets		$       3,228,280		$       3,167,666		$       2,938,244
Less: Intangible assets		87,973		87,839		61,949
Non-GAAP tangible assets		$       3,140,307		$       3,079,827		$       2,876,295
Total shareholders' equity		$          329,954		$          316,656		$          351,903
Less: Intangible assets		87,973		87,839		61,949
Non-GAAP tangible shareholders' equity		$          241,981		$          228,817		$          289,954
Total loans		$       2,430,750		$       2,303,279		$       1,840,093
Less: PPP loans		6,692		7,094		43,637
Total loans excluding PPP loans		$       2,424,058		$       2,296,185		$       1,796,456
Return on average equity		13.23 %		12.35 %		11.65 %
Add: Average intangible assets		5.52		4.99		2.83
Non-GAAP return on average tangible common equity		18.75 %		17.34 %		14.48 %
Common equity ratio		10.22 %		10.00 %		11.98 %
Less: Intangible assets		2.51		2.57		1.90
Non-GAAP tangible common equity ratio		7.71 %		7.43 %		10.08 %
Book value per share		$              39.82		$              38.27		$              41.27
Less: Intangible assets		10.62		10.61		7.27
Non-GAAP tangible book value per share		$              29.20		$              27.66		$              34.00

This news release contains certain forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may."

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors - many of which are beyond our control - could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Home Bancorp's Annual Report on Form 10-K for the year ended December 31, 2021, describes some of these factors, including risk elements in the loan portfolio, the level of the allowance for credit losses, the impact of the COVID-19 pandemic, risks of our growth strategy, geographic concentration of our business, dependence on our management team, risks of market rates of interest and of regulation on our business and risks of competition. Forward-looking statements speak only as of the date they are made. We do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.

HOME BANCORP, INC. AND SUBSIDIARY
CONDENSED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
(dollars in thousands)		December 31, 2022		September 30, 2022		% Change		December 31, 2021
Assets
Cash and cash equivalents		$                  87,401		$                150,556		(42) %		$                601,443
Interest-bearing deposits in banks		349		349		—		349
Investment securities available for sale, at fair value		486,518		492,758		(1)		327,632
Investment securities held to maturity		1,075		1,080		—		2,102
Mortgage loans held for sale		98		169		(42)		1,104
Loans, net of unearned income		2,430,750		2,303,279		6		1,840,093
Allowance for loan losses		(29,299)		(27,351)		(7)		(21,089)
Total loans, net of allowance for loan losses		2,401,451		2,275,928		6		1,819,004
Office properties and equipment, net		43,560		43,685		—		43,542
Cash surrender value of bank-owned life insurance		46,276		46,019		1		40,361
Goodwill and core deposit intangibles		87,973		87,839		—		61,949
Accrued interest receivable and other assets		73,579		69,283		6		40,758
Total Assets		$             3,228,280		$             3,167,666		2		$             2,938,244
Liabilities
Deposits		$             2,633,181		$             2,738,424		(4) %		$             2,535,849
Other Borrowings		5,539		5,539		—		5,539
Subordinated debt, net of issuance cost		54,013		53,958		—		—
Federal Home Loan Bank advances		176,213		24,816		610		26,046
Accrued interest payable and other liabilities		29,380		28,273		4		18,907
Total Liabilities		2,898,326		2,851,010		2		2,586,341
Shareholders' Equity
Common stock		83		83		— %		85
Additional paid-in capital		164,942		164,024		1		164,982
Common stock acquired by benefit plans		(2,060)		(2,150)		4		(2,423)
Retained earnings		206,296		197,553		4		188,515
Accumulated other comprehensive (loss) income		(39,307)		(42,854)		8		744
Total Shareholders' Equity		329,954		316,656		4		351,903
Total Liabilities and Shareholders' Equity		$             3,228,280		$             3,167,666		2		$             2,938,244

HOME BANCORP, INC. AND SUBSIDIARY
CONDENSED STATEMENTS OF INCOME
(Unaudited)
		For the Three Months Ended
(dollars in thousands, except per share data)		December 31, 2022		September 30, 2022		% Change		December 31, 2021		% Change
Interest Income
Loans, including fees		$                  32,826		$                  29,859		10 %		$                  24,215		36 %
Investment securities		3,214		2,958		9		1,309		146
Other investments and deposits		555		1,447		(62)		264		110
Total interest income		36,595		34,264		7		25,788		42
Interest Expense
Deposits		1,949		1,270		53 %		974		100 %
Other borrowings		53		53		—		53		—
Subordinated debt expense		855		859		—		—		—
Federal Home Loan Bank advances		456		105		334		111		311
Total interest expense		3,313		2,287		45		1,138		191
Net interest income		33,282		31,977		4		24,650		35
Provision (reversal) for loan losses		1,987		1,696		17		(2,648)		175
Net interest income after provision for loan losses		31,295		30,281		3		27,298		15
Noninterest Income
Service fees and charges		1,198		1,300		(8) %		1,224		(2) %
Bank card fees		1,566		1,623		(4)		1,519		3
Gain on sale of loans, net		22		78		(72)		376		(94)
Income from bank-owned life insurance		257		231		11		219		17
Gain on sale of assets, net		9		18		(50)		(44)		120
Other income		287		224		28		240		20
Total noninterest income		3,339		3,474		(4)		3,534		(6)
Noninterest Expense
Compensation and benefits		12,880		12,128		6 %		9,991		29 %
Occupancy		2,261		2,297		(2)		1,824		24
Marketing and advertising		550		658		(16)		1,033		(47)
Data processing and communication		2,295		2,284		—		2,237		3
Professional fees		388		331		17		493		(21)
Forms, printing and supplies		182		185		(2)		164		11
Franchise and shares tax		693		633		9		396		75
Regulatory fees		511		467		9		331		54
Foreclosed assets, net		30		101		(70)		155		(81)
Amortization of acquisition intangible		443		453		(2)		279		59
Provision for credit losses on unfunded lending commitments		(170)		146		(216)		15		(1233)
Other expenses		1,114		1,040		7		1,099		1
Total noninterest expense		21,177		20,723		2		18,017		18
Income before income tax expense		13,457		13,032		3		12,815		5
Income tax expense		2,681		2,598		3		2,577		4
Net income		$                  10,776		$                  10,434		3		$                  10,238		5
Earnings per share - basic		$                       1.33		$                       1.29		3 %		$                       1.24		7 %
Earnings per share - diluted		$                       1.32		$                       1.28		3		$                       1.23		7
Cash dividends declared per common share		$                       0.24		$                       0.23		4 %		$                       0.23		4 %

HOME BANCORP, INC. AND SUBSIDIARY
SUMMARY FINANCIAL INFORMATION
(Unaudited)
		For the Three Months Ended
(dollars in thousands, except per share data)		December 31, 2022		September 30, 2022		% Change		December 31, 2021		% Change
EARNINGS DATA
Total interest income		$              36,595		$              34,264		7 %		$              25,788		42 %
Total interest expense		3,313		2,287		45		1,138		191
Net interest income		33,282		31,977		4		24,650		35
(Reversal) provision for loan losses		1,987		1,696		17		(2,648)		175
Total noninterest income		3,339		3,474		(4)		3,534		(6)
Total noninterest expense		21,177		20,723		2		18,017		18
Income tax expense		2,681		2,598		3		2,577		4
Net income		$              10,776		$              10,434		3		$              10,238		5
AVERAGE BALANCE SHEET DATA
Total assets		$         3,173,676		$         3,265,907		(3) %		$         2,941,274		8 %
Total interest-earning assets		2,986,266		3,060,273		(2)		2,749,445		9
Total loans		2,374,065		2,265,846		5		1,856,814		28
PPP loans		6,883		9,431		(27)		67,198		(90)
Total interest-bearing deposits		1,769,966		1,894,275		(7)		1,729,341		2
Total interest-bearing liabilities		1,884,109		1,978,734		(5)		1,761,052		7
Total deposits		2,707,823		2,818,318		(4)		2,537,670		7
Total shareholders' equity		323,102		335,053		(4)		348,635		(7)
PER SHARE DATA
Earnings per share - basic		$                   1.33		$                   1.29		3 %		$                   1.24		7 %
Earnings per share - diluted		1.32		1.28		3		1.23		7
Book value at period end		39.82		38.27		4		41.27		(4)
Tangible book value at period end		29.20		27.66		6		34.00		(14)
Shares outstanding at period end		8,286,084		8,273,334		—		8,526,907		(3)
Weighted average shares outstanding
Basic		8,070,734		8,089,246		— %		8,278,472		(3) %
Diluted		8,119,481		8,138,307		—		8,331,749		(3)
SELECTED RATIOS (1)
Return on average assets		1.35 %		1.27 %		6 %		1.38 %		(2) %
Return on average equity		13.23		12.35		7		11.65		14
Common equity ratio		10.22		10.00		2		11.98		(15)
Efficiency ratio (2)		57.83		58.45		(1)		63.93		(10)
Average equity to average assets		10.18		10.26		(1)		11.85		(14)
Tier 1 leverage capital ratio (3)		10.43		9.76		7		9.77		7
Total risk-based capital ratio (3)		13.63		13.65		—		15.85		(14)
Net interest margin (4)		4.38		4.11		7		3.53		24
SELECTED NON-GAAP RATIOS (1)
Tangible common equity ratio (5)		7.71 %		7.43 %		4 %		10.08 %		(24) %
Return on average tangible common equity (6)		18.75		17.34		8		14.48		29

(1)	With the exception of end-of-period ratios, all ratios are based on average daily balances during the respective periods.
(2)	The efficiency ratio represents noninterest expense as a percentage of total revenues. Total revenues is the sum of net interest income and noninterest income.
(3)	Capital ratios are preliminary end-of-period ratios for the Bank only and are subject to change.
(4)	Net interest margin represents net interest income as a percentage of average interest-earning assets. Taxable equivalent yields are calculated using a marginal tax rate of 21%.
(5)	Tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets. See "Non-GAAP Reconciliation" for additional information.
(6)	Return on average tangible common equity is net income plus amortization of core deposit intangible, net of taxes, divided by average common shareholders' equity less average intangible assets. See "Non-GAAP Reconciliation" for additional information.

HOME BANCORP, INC. AND SUBSIDIARY
SUMMARY CREDIT QUALITY INFORMATION
(Unaudited)
		December 31, 2022						September 30, 2022						December 31, 2021
(dollars in thousands)		Acquired		Originated		Total		Acquired		Originated		Total		Acquired		Originated		Total
CREDIT QUALITY (1)
Nonaccrual loans (2)		$          6,177		$          4,336		$    10,513		$        12,799		$          4,281		$    17,080		$          6,036		$          7,233		$    13,269
Accruing loans past due 90 days and over		—		2		2		—		3		3		—		6		6
Total nonperforming loans		6,177		4,338		10,515		12,799		4,284		17,083		6,036		7,239		13,275
Foreclosed assets and ORE		310		151		461		376		14		390		80		1,109		1,189
Total nonperforming assets		6,487		4,489		10,976		13,175		4,298		17,473		6,116		8,348		14,464
Performing troubled debt restructurings		1,605		4,600		6,205		879		4,686		5,565		1,096		3,867		4,963
Total nonperforming assets and troubled debt restructurings		$          8,092		$          9,089		$    17,181		$        14,054		$          8,984		$    23,038		$          7,212		$        12,215		$    19,427
Nonperforming assets to total assets						0.34 %						0.55 %						0.49 %
Nonperforming loans to total assets						0.33						0.54						0.45
Nonperforming loans to total loans						0.43						0.74						0.72

(1)	It is our policy to cease accruing interest on loans 90 days or more past due. Nonperforming assets consist of nonperforming loans, foreclosed assets and other real estate (ORE). Foreclosed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure. ORE consists of closed or unused bank buildings.
(2)	Nonaccrual loans include originated restructured loans placed on nonaccrual totaling $3.1 million, $3.3 million and $3.7 million at December 31, 2022, September 30, 2022 and December 31, 2021, respectively. Acquired restructured loans placed on nonaccrual totaled $3.7 million, $4.7 million and $3.5 million at December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

HOME BANCORP, INC. AND SUBSIDIARY
SUMMARY CREDIT QUALITY INFORMATION - CONTINUED
(Unaudited)
		12/31/2022						9/30/2022						12/31/2021
		Collectively Evaluated		Individually Evaluated		Total		Collectively Evaluated		Individually Evaluated		Total		Collectively Evaluated		Individually Evaluated		Total
ALLOWANCE FOR CREDIT LOSSES
One- to four-family first mortgage		$          2,883		$                 —		$      2,883		$          2,293		$                 32		$      2,325		$          1,944		$                 —		$      1,944
Home equity loans and lines		624		—		624		500		—		500		508		—		508
Commercial real estate		13,264		550		13,814		12,504		1,193		13,697		10,207		247		10,454
Construction and land		4,680		—		4,680		4,973		—		4,973		3,572		—		3,572
Multi-family residential		572		—		572		498		—		498		457		—		457
Commercial and industrial		5,853		171		6,024		4,523		188		4,711		3,095		425		3,520
Consumer		702		—		702		647		—		647		634		—		634
Total allowance for loan losses		$        28,578		$              721		$    29,299		$        25,938		$           1,413		$    27,351		$        20,417		$              672		$    21,089
Unfunded lending commitments(1)		2,093		—		2,093		2,263		—		2,263		1,815		—		1,815
Total allowance for credit losses		$        30,671		$              721		$    31,392		$        28,201		$           1,413		$    29,614		$        22,232		$              672		$    22,904
Allowance for loan losses to nonperforming assets						266.94 %						156.53 %						145.80 %
Allowance for loan losses to nonperforming loans						278.64						160.11						158.86
Allowance for loan losses to total loans						1.21						1.19						1.15
Allowance for credit losses to total loans						1.29						1.29						1.24
Year-to-date loan charge-offs						$      1,398						$      1,260						$      2,305
Year-to-date loan recoveries						704						605						592
Year-to-date net loan charge-offs						$          694						$          655						$      1,713
Annualized YTD net loan charge-offs to average loans						0.03 %						0.04 %						0.09 %

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

 

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SOURCE Home Bancorp, Inc.

FAQ

What were Home Bancorp's earnings for Q4 2022?

Home Bancorp reported a net income of $10.8 million for Q4 2022.

How much did Home Bancorp's loans increase in Q4 2022?

Total loans increased by $127.5 million, or 6%, in Q4 2022.

What is the net interest margin for Home Bancorp in Q4 2022?

The net interest margin for Q4 2022 was 4.38%, an increase from the prior quarter.

What is the dividend declared by Home Bancorp for Q4 2022?

Home Bancorp declared a quarterly cash dividend of $0.25 per share.

What caused the decrease in Home Bancorp's deposits?

The decrease in deposits was primarily due to customers utilizing excess cash.