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Home Bancorp, Inc. (Nasdaq: HBCP) is the parent company for Home Bank, N.A., a prominent national bank headquartered in Lafayette, Louisiana. Founded in 1908 as Home Building and Loan, Home Bank has earned a reputation as a stable financial institution dedicated to its customers. Offering a comprehensive range of deposit and loan products, Home Bank operates from 42 full-service banking locations across South Louisiana, Natchez, Mississippi, and Houston, Texas.
Home Bancorp, Inc., which became the holding company for Home Bank in October 2008 following a mutual to stock conversion, attracts deposits from the public and utilizes these funds to invest in a variety of loans and securities. The company’s primary operations include originating one-to-four-family first mortgage loans, home equity loans and lines, commercial real estate loans, construction and land loans, multi-family residential loans, commercial and industrial loans, and consumer loans. Their main sources of funds include customer deposits, loan repayments, investment repayments, and borrowings from institutions like the Federal Home Loan Bank of Dallas.
Recent financial data indicates that Home Bancorp reported net income of $9.2 million for the first quarter of 2024, reflecting a slight decrease from the previous quarter. The company also observed loan growth, with total loans reaching $2.6 billion. Despite economic fluctuations, Home Bank has maintained strong credit quality and capital levels, with a tangible common equity ratio of 8.7% at the end of 2023.
Home Bancorp's strategic initiatives include leveraging customer relationships to retain deposits while navigating increased interest rates. Innovations in banking technology and commitment to customer service remain at the forefront of their operations. The company's investment securities portfolio, primarily pledged to secure public deposits, totaled $422.9 million as of March 31, 2024, demonstrating a proactive approach to liquidity management.
Under the leadership of John W. Bordelon, President and CEO, Home Bancorp continues to thrive, delivering consistent performance and robust financial results. The company's dedication to relationship banking has been pivotal in sustaining its growth and stability. As Home Bancorp looks to the future, its focus remains on expanding market share, enhancing customer experiences, and maintaining financial strength. For more detailed financial data and updates, investors are encouraged to visit Home Bancorp’s Investor Relations page.
Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $6,000 to Fathers on a Mission (FOAM) on Monday. FOAM will utilize the funds to enhance its community programs aimed at supporting fathers and father figures in Baton Rouge, Louisiana. The executive director emphasized that such funding is crucial to avoid program cuts that would negatively impact the community. In 2021, FHLB Dallas allocated $400,000 in grants to various organizations, significantly contributing to community development.
On September 29, 2021, Home Bancorp, Inc. (HBCP) announced the appointment of Donald W. Washington to its Board of Directors, effective October 15, 2021. Washington's previous experience includes serving as the 11th Director of the United States Marshals Service and as a member of Home Bancorp's board from June 2016 until March 2019. His extensive background includes leadership roles in both legal and governmental sectors. Home Bancorp's leadership expressed optimism about Washington's return, highlighting his reputation for leading high-performing teams and commitment to shareholder value.
Home Bancorp (Nasdaq: HBCP) announced the appointment of J. Scott Ballard to its Board of Directors, effective September 1, 2021. Ballard, founder and CEO of Ballard Hospitality, brings extensive leadership experience and a successful business background. The Chairman, John W. Bordelon, expressed optimism about Ballard's ability to contribute to the company's goals and enhance shareholder value. Home Bank, established in 1908, operates 40 locations across South Louisiana and Mississippi, focusing on community service and personal banking.
Home Bancorp (HBCP) reported a net income of $11.4 million or $1.34 per diluted share for Q2 2021, reflecting a 4% decrease from the previous quarter. The company reversed $3.4 million from its loan loss allowance, indicating improved credit quality. Nonperforming assets decreased to 0.55% of total assets. Deposits rose to $2.4 billion, up 2% quarter-over-quarter. Additionally, a quarterly dividend of $0.23 per share was declared, payable on August 20, 2021.
Home Bancorp, Inc. (HBCP) reported a strong financial performance for Q1 2021, with net income rising to $11.9 million or $1.41 per diluted share, a 13% increase from the previous quarter. Key factors included improved credit quality, increased loan sales due to low interest rates, and a $1.7 million reversal of loan loss provisions. The company originated $111.5 million in PPP loans, reinforcing its strong capital position despite ongoing economic challenges.
The Board declared a dividend of $0.23 per share, payable on May 21, 2021.
Home Bancorp, Inc. (HBCP) reported a 32% increase in net income for Q4 2020, totaling $11.6 million or $1.36 per diluted share, up from $8.8 million in Q3 2020. The bank's assets rose to $2.59 billion, with total loans at $2.0 billion, reflecting a 1% increase. The company declared a quarterly cash dividend of $0.22 per share, payable on February 19, 2021. Loan deferrals decreased significantly to $36 million, indicating improved credit quality. Additionally, nonperforming assets fell by 20% to $20 million.
Home Bancorp, Inc. (HBCP) has promoted David T. Kirkley to Chief Financial Officer, effective immediately. Kirkley joined Home Bank in May 2012 as Treasurer and has previously held roles at Iberiabank. He holds both a finance degree and an MBA from the University of Louisiana, along with being a Chartered Financial Analyst. Chairman John W. Bordelon expressed confidence in Kirkley's financial and strategic expertise, highlighting his importance in the bank's growth strategy. Home Bank has been serving South Louisiana and Mississippi markets since 1908.
Home Bancorp, Inc. (HBCP) reported a significant increase in net income for Q3 2020, totaling $8.8 million or $1.01 per diluted share, up 252% from the previous quarter. The bank's total loans decreased slightly to $2.0 billion, with a notable increase in commercial real estate loans. The company announced a quarterly dividend of $0.22 per share, payable on November 20, 2020. The allowance for loan losses remained steady at 1.69% of total loans, and nonperforming assets were reduced to 0.96% of total assets.
Home Bancorp, Inc. (HBCP) announced a new share repurchase plan allowing the buyback of up to 444,000 shares, representing approximately 5% of its outstanding common stock. This repurchase plan will commence following the completion of the 2019 Repurchase Plan, under which 21,063 shares remain. The plans have no specified price targets and can be executed in the open market or through private transactions, with no time limit on their execution.
Home Bancorp, Inc. (HBCP) reported second quarter 2020 net income of $2.5 million, up from $1.9 million in Q1. The Company funded approximately 2,970 Paycheck Protection Program loans totaling $260.2 million, helping borrowers mitigate COVID-19 impacts. Total loans grew by $226.8 million due primarily to PPP loans. However, noninterest income declined by 8%, and the net interest margin decreased to 3.75% from 4.18%. A quarterly cash dividend of $0.22 is payable on August 21, 2020. Total deposits increased by $409.2 million, reflecting strong customer support.
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