HOME BANCORP, INC. ANNOUNCES 2025 SECOND QUARTER RESULTS AND INCREASES QUARTERLY DIVIDEND BY 7%
Home Bancorp (NASDAQ:HBCP) reported strong Q2 2025 financial results, with net income of $11.3 million ($1.45 per diluted share), up from $11.0 million in Q1 2025. The company's loan portfolio grew to $2.8 billion, up 0.6% from Q1, while deposits increased by 2.9% to $2.9 billion.
Key metrics showed improvement with net interest margin rising to 4.04% from 3.91% in Q1. The Board approved a 7% increase in quarterly dividend to $0.29 per share. However, nonperforming assets increased to $25.4 million (0.73% of total assets) due to four new nonaccrual loan relationships.
During Q2, the company maintained strong capital ratios with Tier 1 leverage at 11.47% and continued its share repurchase program, buying back 147,243 shares at an average price of $43.72.
Home Bancorp (NASDAQ:HBCP) ha riportato solidi risultati finanziari per il secondo trimestre 2025, con un utile netto di 11,3 milioni di dollari (1,45 dollari per azione diluita), in aumento rispetto agli 11,0 milioni del primo trimestre 2025. Il portafoglio prestiti è cresciuto fino a 2,8 miliardi di dollari, con un incremento dello 0,6% rispetto al primo trimestre, mentre i depositi sono aumentati del 2,9% raggiungendo 2,9 miliardi di dollari.
I principali indicatori hanno mostrato miglioramenti, con il margine di interesse netto che è salito al 4,04% rispetto al 3,91% del primo trimestre. Il Consiglio di Amministrazione ha approvato un aumento del 7% del dividendo trimestrale, portandolo a 0,29 dollari per azione. Tuttavia, gli attivi deteriorati sono aumentati a 25,4 milioni di dollari (0,73% del totale degli attivi) a causa di quattro nuove posizioni di prestiti non più in accantonamento.
Nel corso del secondo trimestre, la società ha mantenuto solidi coefficienti patrimoniali con un Tier 1 leverage al 11,47% e ha proseguito il programma di riacquisto azionario, ricomprando 147.243 azioni a un prezzo medio di 43,72 dollari.
Home Bancorp (NASDAQ:HBCP) reportó sólidos resultados financieros en el segundo trimestre de 2025, con un ingreso neto de 11.3 millones de dólares (1.45 dólares por acción diluida), superior a los 11.0 millones del primer trimestre de 2025. La cartera de préstamos creció hasta 2.8 mil millones de dólares, un aumento del 0.6% respecto al primer trimestre, mientras que los depósitos aumentaron un 2.9% alcanzando los 2.9 mil millones.
Los indicadores clave mostraron mejoras, con el margen neto de interés subiendo a 4.04% desde 3.91% en el primer trimestre. La Junta aprobó un incremento del 7% en el dividendo trimestral, llevándolo a 0.29 dólares por acción. Sin embargo, los activos improductivos aumentaron a 25.4 millones de dólares (0.73% del total de activos) debido a cuatro nuevas relaciones crediticias en mora.
Durante el segundo trimestre, la empresa mantuvo sólidos índices de capital con un apalancamiento Tier 1 del 11.47% y continuó su programa de recompra de acciones, recomprando 147,243 acciones a un precio promedio de 43.72 dólares.
Home Bancorp (NASDAQ:HBCP)는 2025년 2분기 강력한 재무 실적을 보고했으며, 순이익은 1,130만 달러 (희석 주당 1.45달러)로 2025년 1분기의 1,100만 달러에서 증가했습니다. 회사의 대출 포트폴리오는 1분기 대비 0.6% 증가한 28억 달러로 성장했으며, 예금은 2.9% 증가하여 29억 달러에 달했습니다.
주요 지표들은 개선을 보였으며, 순이자마진은 1분기의 3.91%에서 4.04%로 상승했습니다. 이사회는 분기 배당금을 주당 0.29달러로 7% 인상하는 것을 승인했습니다. 다만, 네 건의 신규 부실 대출 관계로 인해 부실 자산은 총 자산의 0.73%인 2,540만 달러로 증가했습니다.
2분기 동안 회사는 Tier 1 레버리지 비율을 11.47%로 유지하며 강력한 자본 비율을 유지했고, 평균 가격 43.72달러에 147,243주를 재매입하는 주식 환매 프로그램도 계속 진행했습니다.
Home Bancorp (NASDAQ:HBCP) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice net de 11,3 millions de dollars (1,45 dollar par action diluée), en hausse par rapport à 11,0 millions au premier trimestre 2025. Le portefeuille de prêts de la société a atteint 2,8 milliards de dollars, soit une augmentation de 0,6 % par rapport au premier trimestre, tandis que les dépôts ont augmenté de 2,9 % pour atteindre 2,9 milliards de dollars.
Les indicateurs clés ont montré une amélioration, la marge nette d'intérêt passant de 3,91 % au premier trimestre à 4,04 %. Le conseil d'administration a approuvé une augmentation de 7 % du dividende trimestriel, le portant à 0,29 dollar par action. Cependant, les actifs non performants ont augmenté à 25,4 millions de dollars (0,73 % du total des actifs) en raison de quatre nouvelles relations de prêts en défaut.
Au cours du deuxième trimestre, la société a maintenu de solides ratios de capital avec un levier Tier 1 à 11,47 % et a poursuivi son programme de rachat d'actions, rachetant 147 243 actions à un prix moyen de 43,72 dollars.
Home Bancorp (NASDAQ:HBCP) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Nettogewinn von 11,3 Millionen US-Dollar (1,45 US-Dollar je verwässerter Aktie), gegenüber 11,0 Millionen US-Dollar im ersten Quartal 2025. Das Kreditportfolio des Unternehmens wuchs auf 2,8 Milliarden US-Dollar, ein Anstieg von 0,6 % gegenüber dem ersten Quartal, während die Einlagen um 2,9 % auf 2,9 Milliarden US-Dollar zunahmen.
Wichtige Kennzahlen zeigten Verbesserungen, wobei die Nettozinsmarge von 3,91 % im ersten Quartal auf 4,04 % anstieg. Der Vorstand genehmigte eine 7 %ige Erhöhung der Quartalsdividende auf 0,29 US-Dollar je Aktie. Allerdings stiegen die notleidenden Vermögenswerte aufgrund von vier neuen notleidenden Kreditbeziehungen auf 25,4 Millionen US-Dollar (0,73 % der Gesamtvermögenswerte).
Im zweiten Quartal hielt das Unternehmen starke Kapitalquoten mit einer Tier-1-Leverage von 11,47 % aufrecht und setzte sein Aktienrückkaufprogramm fort, indem es 147.243 Aktien zu einem Durchschnittspreis von 43,72 US-Dollar zurückkaufte.
- Net income increased to $11.3 million, up from $11.0 million in Q1 2025
- Net interest margin improved to 4.04% from 3.91% in Q1 2025
- Deposits grew by 2.9% to $2.9 billion
- Quarterly dividend increased by 7% to $0.29 per share
- Strong capital position with Tier 1 leverage ratio at 11.47%
- Nonperforming assets increased 18% to $25.4 million from $21.5 million in Q1
- Net loan charge-offs rose to $335,000 from $32,000 in Q1 2025
- Investment securities portfolio showed unrealized losses of $30.2 million
- Four new loan relationships totaling $6.2 million moved to nonaccrual status
Insights
Home Bancorp delivered solid Q2 results with improving margins, controlled deposit costs, and increased dividends despite rising nonperforming assets.
Home Bancorp reported
The loan portfolio grew modestly at
Deposit growth was robust at
The quarter's concerning development was the
The
The bank's efficiency is evident in its ability to grow net interest income by
"As we celebrate the Bank's 117th anniversary, I'm pleased with the strong results produced during the second quarter of 2025," said John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "We saw growth in loans and deposits and net interest margin continued its upward trajectory as we were able to keep deposit and funding costs stable. We saw increases in nonperforming and criticized loans at the end of the quarter, but do not anticipate any losses. We have maintained a solid allowance for loan losses to total loans of
Second Quarter 2025 Highlights
- Loans totaled
$2.8 billion $17.3 million 0.6% (an increase of3% on an annualized basis), from March 31, 2025. - Deposits totaled
$2.9 billion $81.0 million 2.9% (11% on an annualized basis), from March 31, 2025. - Net interest income in the second quarter of 2025 totaled
$33.4 million $1.6 million 5% , from the prior quarter. - The net interest margin ("NIM") was
4.04% in the second quarter of 2025 compared to3.91% in the first quarter of 2025. - Nonperforming assets totaled
$25.4 million 0.73% of total assets, at June 30, 2025 compared to$21.5 million 0.62% of total assets, at March 31, 2025. This increase in nonperforming assets is primarily due to four loan relationships, which were moved to nonaccrual status in the second quarter of 2025. - The Company recorded a
$489,000 $394,000
Loans
Loans totaled
(dollars in thousands) | 6/30/2025 | 3/31/2025 | Increase (Decrease) | |||||
Real estate loans: | ||||||||
One- to four-family first mortgage | $ �� 504,145 | $ 504,356 | $ (211) | — % | ||||
Home equity loans and lines | 81,178 | 77,417 | 3,761 | 5 | ||||
Commercial real estate | 1,218,168 | 1,193,364 | 24,804 | 2 | ||||
Construction and land | 324,574 | 346,987 | (22,413) | (6) | ||||
Multi-family residential | 183,809 | 183,792 | 17 | — | ||||
Total real estate loans | 2,311,874 | 2,305,916 | 5,958 | — | ||||
Other loans: | ||||||||
Commercial and industrial | 421,997 | 411,363 | 10,634 | 3 | ||||
Consumer | 30,667 | 29,998 | 669 | 2 | ||||
Total other loans | 452,664 | 441,361 | 11,303 | 3 | ||||
Total loans | $ 2,764,538 | $ 2,747,277 | $ 17,261 | 1 % | ||||
The average loan yield was
Credit Quality and Allowance for Credit Losses
Nonperforming assets ("NPAs") totaled
The Company provisioned
The following tables present the Company's loan portfolio by credit quality classification as of June 30, 2025 and March 31, 2025.
June 30, 2025 | ||||||||
(dollars in thousands) | Pass | Special | Substandard | Total | ||||
One- to four-family first mortgage | $ 497,404 | $ — | $ 6,741 | $ 504,145 | ||||
Home equity loans and lines | 80,145 | — | 1,033 | 81,178 | ||||
Commercial real estate | 1,185,738 | 1,063 | 31,367 | 1,218,168 | ||||
Construction and land | 317,593 | 749 | 6,232 | 324,574 | ||||
Multi-family residential | 182,572 | — | 1,237 | 183,809 | ||||
Commercial and industrial | 418,831 | — | 3,166 | 421,997 | ||||
Consumer | 30,632 | — | 35 | 30,667 | ||||
Total | $ 2,712,915 | $ 1,812 | $ 49,811 | $ 2,764,538 | ||||
March 31, 2025 | ||||||||
(dollars in thousands) | Pass | Special | Substandard | Total | ||||
One- to four-family first mortgage | $ 496,694 | $ 820 | $ 6,842 | $ 504,356 | ||||
Home equity loans and lines | 77,045 | — | 372 | 77,417 | ||||
Commercial real estate | 1,174,920 | — | 18,444 | 1,193,364 | ||||
Construction and land | 341,273 | — | 5,714 | 346,987 | ||||
Multi-family residential | 182,536 | — | 1,256 | 183,792 | ||||
Commercial and industrial | 407,742 | — | 3,621 | 411,363 | ||||
Consumer | 29,838 | — | 160 | 29,998 | ||||
Total | $ 2,710,048 | $ 820 | $ 36,409 | $ 2,747,277 | ||||
Investment Securities
The Company's investment securities portfolio totaled
The following table summarizes the composition of the Company's investment securities portfolio at June 30, 2025.
(dollars in thousands) | Amortized | Fair Value | ||
Available for sale: | ||||
| $ 280,484 | $ 258,925 | ||
Collateralized mortgage obligations | 68,080 | 66,615 | ||
Municipal bonds | 53,240 | 46,942 | ||
| 16,863 | 16,338 | ||
Corporate bonds | 4,985 | 4,642 | ||
Total available for sale | $ 423,652 | $ 393,462 | ||
Held to maturity: | ||||
Municipal bonds | $ 1,065 | $ 1,066 | ||
Total held to maturity | $ 1,065 | $ 1,066 |
Approximately
Deposits
Total deposits were
(dollars in thousands) | 6/30/2025 | 3/31/2025 | Increase (Decrease) | |||||
Demand deposits | $ 796,844 | $ 754,955 | $ 41,889 | 6 % | ||||
Savings | 204,191 | 212,053 | (7,862) | (4) | ||||
Money market | 463,332 | 464,659 | (1,327) | — | ||||
NOW | 625,793 | 641,287 | (15,494) | (2) | ||||
Certificates of deposit | 818,074 | 754,253 | 63,821 | 8 | ||||
Total deposits | $ 2,908,234 | $ 2,827,207 | $ 81,027 | 3 % | ||||
The average rate on interest-bearing deposits increased 1 basis point from
We obtain most of our deposits from individuals, small businesses and public funds in our market areas. The following table presents our deposits per customer type for the periods indicated.
June 30, 2025 | March 31, 2025 | |||
Individuals | 52 % | 53 % | ||
Small businesses | 38 | 36 | ||
Public funds | 7 | 8 | ||
Broker | 3 | 3 | ||
Total | 100 % | 100 % | ||
The total amounts of our uninsured deposits (deposits in excess of
Net Interest Income
The net interest margin ("NIM") increased 13 basis points from
The average cost of interest-bearing deposits increased by 1 basis point in the second quarter of 2025 compared to the first quarter of 2025. The increase in deposit costs primarily reflects the increase in non-maturity deposit balances.
Average other interest-earning assets were
Average FHLB advances were
Loan accretion income from acquired loans totaled
Noninterest Income
Noninterest income for the second quarter of 2025 totaled
Noninterest Expense
Noninterest expense for the second quarter of 2025 totaled
Capital
At June 30, 2025, shareholders' equity totaled
Dividend and Share Repurchases
The Company announces that its Board of Directors declared a quarterly cash dividend on shares of its common stock of
The Company repurchased 147,243 shares of its common stock during the second quarter of 2025 at an average price per share of
Conference Call
Executive management will host a conference call to discuss second quarter 2025 results on Tuesday, July 22, 2025 at 10:30 a.m. CDT. Analysts, investors and interested parties may attend the conference call by dialing toll free 1.646.357.8785 (US Local/International) or 1.800.836.8184 (US Toll Free). The investor presentation can be accessed on the day of the presentation on the Home Bancorp, Inc. website at https://home24bank.investorroom.com.
A replay of the conference call and a transcript of the call will be posted to the Investor Relations page of the Company's website, https://home24bank.investorroom.com.
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. 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 on non-GAAP information included herein to GAAP is presented below.
Quarter Ended | ||||||||||
(dollars in thousands, except per share data) | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | |||||
Reported net income | $ 11,330 | $ 10,964 | $ 9,673 | $ 9,437 | $ 8,118 | |||||
Add: Core deposit intangible amortization, net tax | 213 | 231 | 250 | 259 | 261 | |||||
Non-GAAP tangible income | $ 11,543 | $ 11,195 | $ 9,923 | $ 9,696 | $ 8,379 | |||||
Total assets | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | $ 3,410,881 | |||||
Less: Intangible assets | 84,482 | 84,751 | 85,044 | 85,361 | 85,690 | |||||
Non-GAAP tangible assets | $ 3,406,973 | $ 3,400,702 | $ 3,358,624 | $ 3,356,629 | $ 3,325,191 | |||||
Total shareholders' equity | $ 408,818 | $ 402,831 | $ 396,088 | $ 393,453 | $ 375,830 | |||||
Less: Intangible assets | 84,482 | 84,751 | 85,044 | 85,361 | 85,690 | |||||
Non-GAAP tangible shareholders' equity | $ 324,336 | $ 318,080 | $ 311,044 | $ 308,092 | $ 290,140 | |||||
Return on average equity | 11.24 % | 11.02 % | 9.71 % | 9.76 % | 8.75 % | |||||
Add: Average intangible assets | 3.24 | 3.23 | 2.99 | 3.14 | 2.98 | |||||
Non-GAAP return on average tangible common equity | 14.48 % | 14.25 % | 12.70 % | 12.90 % | 11.73 % | |||||
Common equity ratio | 11.71 % | 11.56 % | 11.50 % | 11.43 % | 11.02 % | |||||
Less: Intangible assets | 2.19 | 2.21 | 2.24 | 2.25 | 2.29 | |||||
Non-GAAP tangible common equity ratio | 9.52 % | 9.35 % | 9.26 % | 9.18 % | 8.73 % | |||||
Book value per share | $ 52.36 | $ 50.82 | $ 48.95 | $ 48.75 | $ 46.51 | |||||
Less: Intangible assets | 10.82 | 10.69 | 10.51 | 10.58 | 10.61 | |||||
Non-GAAP tangible book value per share | $ 41.54 | $ 40.13 | $ 38.44 | $ 38.17 | $ 35.90 | |||||
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, 2024 describes some of these factors, including risk elements in the loan portfolio, risks related to our deposit activities, the level of the allowance for credit losses, 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) | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | |||||
Assets | ||||||||||
Cash and cash equivalents | $ 112,595 | $ 110,662 | $ 98,548 | $ 135,877 | $ 113,462 | |||||
Investment securities available for sale, at fair value | 393,462 | 400,553 | 402,792 | 420,723 | 412,472 | |||||
Investment securities held to maturity | 1,065 | 1,065 | 1,065 | 1,065 | 1,065 | |||||
Mortgage loans held for sale | 1,305 | 1,855 | 832 | 242 | — | |||||
Loans, net of unearned income | 2,764,538 | 2,747,277 | 2,718,185 | 2,668,286 | 2,661,346 | |||||
Allowance for loan losses | (33,432) | (33,278) | (32,916) | (32,278) | (32,212) | |||||
Total loans, net of allowance for loan losses | 2,731,106 | 2,713,999 | 2,685,269 | 2,636,008 | 2,629,134 | |||||
Office properties and equipment, net | 45,216 | 45,327 | 42,324 | 42,659 | 43,089 | |||||
Cash surrender value of bank-owned life insurance | 48,981 | 48,699 | 48,421 | 48,139 | 47,858 | |||||
Goodwill and core deposit intangibles | 84,482 | 84,751 | 85,044 | 85,361 | 85,690 | |||||
Accrued interest receivable and other assets | 73,243 | 78,542 | 79,373 | 71,916 | 78,111 | |||||
Total Assets | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | $ 3,410,881 | |||||
Liabilities | ||||||||||
Deposits | $ 2,908,234 | $ 2,827,207 | $ 2,780,696 | $ 2,777,487 | $ 2,722,915 | |||||
Other Borrowings | 5,539 | 5,539 | 5,539 | 140,539 | 140,539 | |||||
Subordinated debt, net of issuance cost | 54,567 | 54,513 | 54,459 | 54,402 | 54,348 | |||||
Federal Home Loan Bank advances | 88,196 | 163,259 | 175,546 | 38,410 | 83,506 | |||||
Accrued interest payable and other liabilities | 26,101 | 32,104 | 31,340 | 37,699 | 33,743 | |||||
Total Liabilities | 3,082,637 | 3,082,622 | 3,047,580 | 3,048,537 | 3,035,051 | |||||
Shareholders' Equity | ||||||||||
Common stock | 78 | 79 | 81 | 81 | 81 | |||||
Additional paid-in capital | 166,576 | 167,231 | 168,138 | 166,743 | 165,918 | |||||
Common stock acquired by benefit plans | (1,160) | (1,250) | (1,339) | (1,428) | (1,518) | |||||
Retained earnings | 265,817 | 261,856 | 259,190 | 251,692 | 245,046 | |||||
Accumulated other comprehensive loss | (22,493) | (25,085) | (29,982) | (23,635) | (33,697) | |||||
Total Shareholders' Equity | 408,818 | 402,831 | 396,088 | 393,453 | 375,830 | |||||
Total Liabilities and Shareholders' Equity | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | $ 3,410,881 | |||||
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
CONDENSED STATEMENTS OF INCOME | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | Six Months Ended | |||||||||
(dollars in thousands, except per share data) | 6/30/2025 | 3/31/2025 | 6/30/2024 | 6/30/2025 | 6/30/2024 | |||||
Interest Income | ||||||||||
Loans, including fees | $ 45,287 | $ 44,032 | $ 41,999 | $ 89,319 | $ 82,566 | |||||
Investment securities | 2,596 | 2,664 | 2,740 | 5,260 | 5,528 | |||||
Other investments and deposits | 746 | 505 | 719 | 1,251 | 1,490 | |||||
Total interest income | 48,629 | 47,201 | 45,458 | 95,830 | 89,584 | |||||
Interest Expense | ||||||||||
Deposits | 13,142 | 12,622 | 13,134 | 25,764 | 25,266 | |||||
Other borrowings | 53 | 53 | 1,656 | 106 | 3,142 | |||||
Subordinated debt expense | 844 | 845 | 844 | 1,689 | 1,689 | |||||
Federal Home Loan Bank advances | 1,239 | 1,932 | 431 | 3,171 | 1,193 | |||||
Total interest expense | 15,278 | 15,452 | 16,065 | 30,730 | 31,290 | |||||
Net interest income | 33,351 | 31,749 | 29,393 | 65,100 | 58,294 | |||||
Provision for loan losses | 489 | 394 | 1,261 | 883 | 1,402 | |||||
Net interest income after provision for loan losses | 32,862 | 31,355 | 28,132 | 64,217 | 56,892 | |||||
Noninterest Income | ||||||||||
Service fees and charges | 1,345 | 1,309 | 1,239 | 2,654 | 2,493 | |||||
Bank card fees | 1,750 | 1,578 | 1,751 | 3,328 | 3,326 | |||||
Gain on sale of loans, net | 114 | 377 | 126 | 491 | 213 | |||||
Income from bank-owned life insurance | 282 | 278 | 271 | 560 | 537 | |||||
(Loss) gain on sale of assets, net | (2) | 9 | (2) | 7 | 4 | |||||
Other income | 227 | 458 | 370 | 685 | 731 | |||||
Total noninterest income | 3,716 | 4,009 | 3,755 | 7,725 | 7,304 | |||||
Noninterest Expense | ||||||||||
Compensation and benefits | 13,322 | 12,652 | 12,788 | 25,974 | 24,958 | |||||
Occupancy | 2,513 | 2,561 | 2,603 | 5,074 | 5,057 | |||||
Marketing and advertising | 461 | 429 | 485 | 890 | 951 | |||||
Data processing and communication | 2,628 | 2,642 | 2,555 | 5,270 | 5,069 | |||||
Professional fees | 396 | 405 | 581 | 801 | 1,056 | |||||
Forms, printing and supplies | 203 | 200 | 187 | 403 | 392 | |||||
Franchise and shares tax | 483 | 476 | 487 | 959 | 975 | |||||
Regulatory fees | 502 | 516 | 509 | 1,018 | 978 | |||||
Foreclosed assets, net | 419 | 227 | 89 | 646 | 154 | |||||
Amortization of acquisition intangible | 269 | 293 | 329 | 562 | 682 | |||||
Reversal for credit losses on unfunded commitments | (970) | — | (134) | (970) | (134) | |||||
Other expenses | 2,181 | 1,178 | 1,329 | 3,359 | 2,538 | |||||
Total noninterest expense | 22,407 | 21,579 | 21,808 | 43,986 | 42,676 | |||||
Income before income tax expense | 14,171 | 13,785 | 10,079 | 27,956 | 21,520 | |||||
Income tax expense | 2,841 | 2,821 | 1,961 | 5,662 | 4,203 | |||||
Net income | $ 11,330 | $ 10,964 | $ 8,118 | $ 22,294 | $ 17,317 | |||||
Earnings per share - basic | $ 1.47 | $ 1.38 | $ 1.02 | $ 2.85 | $ 2.17 | |||||
Earnings per share - diluted | $ 1.45 | $ 1.37 | $ 1.02 | $ 2.82 | $ 2.16 | |||||
Cash dividends declared per common share | $ 0.27 | $ 0.27 | $ 0.25 | $ 0.54 | $ 0.50 | |||||
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
SUMMARY FINANCIAL INFORMATION | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | Six Months Ended | |||||||||
(dollars in thousands, except per share data) | 6/30/2025 | 3/31/2025 | 6/30/2024 | 6/30/2025 | 6/30/2024 | |||||
EARNINGS DATA | ||||||||||
Total interest income | $ 48,629 | $ 47,201 | $ 45,458 | $ 95,830 | $ 89,584 | |||||
Total interest expense | 15,278 | 15,452 | 16,065 | 30,730 | 31,290 | |||||
Net interest income | 33,351 | 31,749 | 29,393 | 65,100 | 58,294 | |||||
Provision for loan losses | 489 | 394 | 1,261 | 883 | 1,402 | |||||
Total noninterest income | 3,716 | 4,009 | 3,755 | 7,725 | 7,304 | |||||
Total noninterest expense | 22,407 | 21,579 | 21,808 | 43,986 | 42,676 | |||||
Income tax expense | 2,841 | 2,821 | 1,961 | 5,662 | 4,203 | |||||
Net income | $ 11,330 | $ 10,964 | $ 8,118 | $ 22,294 | $ 17,317 | |||||
AVERAGE BALANCE SHEET DATA | ||||||||||
Total assets | $ 3,474,762 | $ 3,449,472 | $ 3,367,207 | $ 3,462,187 | $ 3,350,545 | |||||
Total interest-earning assets | 3,261,733 | 3,240,619 | 3,167,186 | 3,251,235 | 3,149,904 | |||||
Total loans | 2,764,065 | 2,745,212 | 2,652,331 | 2,754,691 | 2,627,636 | |||||
PPP loans | 330 | 1,320 | 5,156 | 822 | 5,274 | |||||
Total interest-bearing deposits | 2,087,781 | 2,038,681 | 1,965,181 | 2,063,367 | 1,951,414 | |||||
Total interest-bearing liabilities | 2,261,916 | 2,279,363 | 2,206,612 | 2,270,592 | 2,198,104 | |||||
Total deposits | 2,863,683 | 2,772,295 | 2,716,957 | 2,818,241 | 2,698,933 | |||||
Total shareholders' equity | 404,367 | 403,504 | 373,139 | 403,938 | 371,950 | |||||
PER SHARE DATA | ||||||||||
Earnings per share - basic | $ 1.47 | $ 1.38 | $ 1.02 | $ 2.85 | $ 2.17 | |||||
Earnings per share - diluted | 1.45 | 1.37 | 1.02 | 2.82 | 2.16 | |||||
Book value at period end | 52.36 | 50.82 | 46.51 | 52.36 | 46.51 | |||||
Tangible book value at period end | 41.54 | 40.13 | 35.90 | 41.54 | 35.90 | |||||
Shares outstanding at period end | 7,808,421 | 7,926,331 | 8,081,344 | 7,808,421 | 8,081,344 | |||||
Weighted average shares outstanding | ||||||||||
Basic | 7,707,423 | 7,949,477 | 7,972,445 | 7,827,781 | 7,978,381 | |||||
Diluted | 7,781,021 | 8,026,815 | 8,018,908 | 7,903,239 | 8,029,206 | |||||
SELECTED RATIOS (1) | ||||||||||
Return on average assets | 1.31 % | 1.29 % | 0.97 % | 1.30 % | 1.04 % | |||||
Return on average equity | 11.24 | 11.02 | 8.75 | 11.13 | 9.36 | |||||
Common equity ratio | 11.71 | 11.56 | 11.02 | 11.71 | 11.02 | |||||
Efficiency ratio (2) | 60.45 | 60.35 | 65.79 | 60.40 | 65.06 | |||||
Average equity to average assets | 11.64 | 11.70 | 11.08 | 11.67 | 11.10 | |||||
Tier 1 leverage capital ratio (3) | 11.47 | 11.48 | 11.22 | 11.47 | 11.22 | |||||
Total risk-based capital ratio (3) | 14.66 | 14.58 | 14.39 | 14.66 | 14.39 | |||||
Net interest margin (4) | 4.04 | 3.91 | 3.66 | 3.98 | 3.65 | |||||
SELECTED NON-GAAP RATIOS (1) | ||||||||||
Tangible common equity ratio (5) | 9.52 % | 9.35 % | 8.73 % | 9.52 % | 8.73 % | |||||
Return on average tangible common equity (6) | 14.48 | 14.25 | 11.73 | 14.37 | 12.56 | |||||
(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 |
(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 | ||||||||||||||||||
Consolidated Net Interest Margin | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||
Three Months Ended | ||||||||||||||||||
6/30/2025 | 3/31/2025 | 6/30/2024 | ||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Average | Interest | Average | Average | Interest | Average | |||||||||
Interest-earning assets: | ||||||||||||||||||
Loans receivable | $ 2,764,065 | $ 45,287 | 6.50 % | $ 2,745,212 | $ 44,032 | 6.43 % | $ 2,652,331 | $ 41,999 | 6.28 % | |||||||||
Investment securities (TE)(1) | 426,601 | 2,596 | 2.45 | 439,556 | 2,664 | 2.44 | 463,500 | 2,740 | 2.38 | |||||||||
Other interest-earning assets | 71,067 | 746 | 4.21 | 55,851 | 505 | 3.67 | 51,355 | 719 | 5.64 | |||||||||
Total interest-earning assets | $ 3,261,733 | $ 48,629 | 5.92 % | $ 3,240,619 | $ 47,201 | 5.84 % | $ 3,167,186 | $ 45,458 | 5.70 % | |||||||||
Interest-bearing liabilities: | ||||||||||||||||||
Deposits: | ||||||||||||||||||
Savings, checking, and money market | $ 1,296,541 | $ 5,531 | 1.71 % | $ 1,306,602 | $ 5,401 | 1.68 % | $ 1,260,491 | $ 5,108 | 1.63 % | |||||||||
Certificates of deposit | 791,240 | 7,611 | 3.86 | 732,079 | 7,221 | 4.00 | 704,690 | 8,026 | 4.58 | |||||||||
Total interest-bearing deposits | 2,087,781 | 13,142 | 2.52 | 2,038,681 | 12,622 | 2.51 | 1,965,181 | 13,134 | 2.69 | |||||||||
Other borrowings | 5,572 | 53 | 3.84 | 5,539 | 53 | 3.89 | 140,610 | 1,656 | 4.74 | |||||||||
Subordinated debt | 54,540 | 844 | 6.20 | 54,485 | 845 | 6.20 | 54,322 | 844 | 6.22 | |||||||||
FHLB advances | 114,023 | 1,239 | 4.30 | 180,658 | 1,932 | 4.28 | 46,499 | 431 | 3.69 | |||||||||
Total interest-bearing liabilities | $ 2,261,916 | $ 15,278 | 2.71 % | $ 2,279,363 | $ 15,452 | 2.74 % | $ 2,206,612 | $ 16,065 | 2.93 % | |||||||||
Noninterest-bearing deposits | $ 775,902 | $ 733,613 | $ 751,776 | |||||||||||||||
Net interest spread (TE)(1) | 3.21 % | 3.10 % | 2.77 % | |||||||||||||||
Net interest margin (TE)(1) | 4.04 % | 3.91 % | 3.66 % | |||||||||||||||
(1) | Taxable equivalent (TE) amounts are calculated using a federal income tax rate of |
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||||
Consolidated Net Interest Margin | ||||||||||||
(Unaudited) | ||||||||||||
Six Months Ended | ||||||||||||
6/30/2025 | 6/30/2024 | |||||||||||
(dollars in thousands) | Average | Interest | Average Yield/ | Average | Interest | Average Yield/ | ||||||
Interest-earning assets: | ||||||||||||
Loans receivable | $ 2,754,691 | $ 89,319 | 6.46 % | $ 2,627,636 | $ 82,566 | 6.23 % | ||||||
Investment securities (TE)(1) | 433,043 | 5,260 | 2.45 | 468,039 | 5,528 | 2.38 | ||||||
Other interest-earning assets | 63,501 | 1,251 | 3.97 | 54,229 | 1,490 | 5.53 | ||||||
Total interest-earning assets | $ 3,251,235 | $ 95,830 | 5.88 % | $ 3,149,904 | $ 89,584 | 5.65 % | ||||||
Interest-bearing liabilities: | ||||||||||||
Deposits: | ||||||||||||
Savings, checking, and money market | $ 1,301,544 | $ 10,932 | 1.69 % | $ 1,264,892 | $ 9,908 | 1.58 % | ||||||
Certificates of deposit | 761,823 | 14,832 | 3.93 | 686,522 | 15,358 | 4.50 | ||||||
Total interest-bearing deposits | 2,063,367 | 25,764 | 2.52 | 1,951,414 | 25,266 | 2.60 | ||||||
Other borrowings | 5,556 | 106 | 3.86 | 133,294 | 3,142 | 4.74 | ||||||
Subordinated debt | 54,512 | 1,689 | 6.20 | 54,295 | 1,689 | 6.22 | ||||||
FHLB advances | 147,157 | 3,171 | 4.29 | 59,101 | 1,193 | 4.02 | ||||||
Total interest-bearing liabilities | $ 2,270,592 | $ 30,730 | 2.72 % | $ 2,198,104 | $ 31,290 | 2.86 % | ||||||
Noninterest-bearing deposits | $ 754,874 | $ 747,519 | ||||||||||
Net interest spread (TE)(1) | 3.16 % | 2.79 % | ||||||||||
Net interest margin (TE)(1) | 3.98 % | 3.65 % | ||||||||||
(1) | Taxable equivalent (TE) amounts are calculated using a federal income tax rate of |
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
SUMMARY CREDIT QUALITY INFORMATION | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | ||||||||||
6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | ||||||
CREDIT QUALITY (1) | ||||||||||
Nonaccrual loans: | ||||||||||
One- to four-family first mortgage | $ 6,272 | $ 6,368 | $ 7,039 | $ 7,750 | $ 6,892 | |||||
Home equity loans and lines | 1,033 | 372 | 279 | 208 | 224 | |||||
Commercial real estate | 7,669 | 4,349 | 3,304 | 7,064 | 8,110 | |||||
Construction and land | 6,103 | 5,584 | 1,622 | 2,127 | 297 | |||||
Multi-family residential | 916 | 930 | — | — | 238 | |||||
Commercial and industrial | 1,312 | 1,206 | 1,311 | 777 | 810 | |||||
Consumer | 35 | 161 | 27 | 129 | 246 | |||||
Total nonaccrual loans | $ 23,340 | $ 18,970 | $ 13,582 | $ 18,055 | $ 16,817 | |||||
Accruing loans 90 days or more past due | 12 | 77 | 16 | 34 | 1 | |||||
Total nonperforming loans | 23,352 | 19,047 | 13,598 | 18,089 | 16,818 | |||||
Foreclosed assets and ORE | 2,077 | 2,424 | 2,010 | 267 | 231 | |||||
Total nonperforming assets | $ 25,429 | $ 21,471 | $ 15,608 | $ 18,356 | $ 17,049 | |||||
Nonperforming assets to total assets | 0.73 % | 0.62 % | 0.45 % | 0.53 % | 0.50 % | |||||
Nonperforming loans to total assets | 0.67 | 0.55 | 0.39 | 0.53 | 0.49 | |||||
Nonperforming loans to total loans | 0.84 | 0.69 | 0.50 | 0.68 | 0.63 | |||||
ALLOWANCE FOR CREDIT LOSSES | ||||||||||
Allowance for loan losses: | ||||||||||
Beginning balance | $ 33,278 | $ 32,916 | $ 32,278 | $ 32,212 | $ 31,461 | |||||
Provision for loan losses | 489 | 394 | 873 | 140 | 1,261 | |||||
Charge-offs | (460) | (226) | (255) | (215) | (574) | |||||
Recoveries | 125 | 194 | 20 | 141 | 64 | |||||
Net charge-offs | (335) | (32) | (235) | (74) | (510) | |||||
Ending balance | $ 33,432 | $ 33,278 | $ 32,916 | $ 32,278 | $ 32,212 | |||||
Reserve for unfunded lending | ||||||||||
Beginning balance | $ 2,700 | $ 2,700 | $ 2,460 | $ 2,460 | $ 2,594 | |||||
(Reversal) provision for losses on | (970) | — | 240 | — | (134) | |||||
Ending balance | $ 1,730 | $ 2,700 | $ 2,700 | $ 2,460 | $ 2,460 | |||||
Total allowance for credit losses | 35,162 | 35,978 | 35,616 | 34,738 | 34,672 | |||||
Total loans | $ 2,764,538 | $ 2,747,277 | $ 2,718,185 | $ 2,668,286 | $ 2,661,346 | |||||
Total unfunded commitments | 492,306 | 508,864 | 516,785 | 527,333 | 509,835 | |||||
Allowance for loan losses to | 131.47 % | 154.99 % | 210.89 % | 175.84 % | 188.94 % | |||||
Allowance for loan losses to | 143.17 | 174.72 | 242.07 | 178.44 | 191.53 | |||||
Allowance for loan losses to total loans | 1.21 | 1.21 | 1.21 | 1.21 | 1.21 | |||||
Allowance for credit losses to total loans | 1.27 | 1.31 | 1.31 | 1.30 | 1.30 | |||||
Year-to-date loan charge-offs | $ (686) | $ (226) | $ (1,285) | $ (1,030) | $ (815) | |||||
Year-to-date loan recoveries | 319 | 194 | 249 | 229 | 88 | |||||
Year-to-date net loan charge-offs | $ (367) | $ (32) | $ (1,036) | $ (801) | $ (727) | |||||
Annualized YTD net loan charge-offs to | (0.03) % | — % | (0.04) % | (0.04) % | (0.06) % | |||||
(1) | It is our policy to cease accruing interest on loans 90 days or more past due, with certain limited exceptions. Nonperforming assets consist of nonperforming loans, foreclosed assets and surplus 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) | 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.
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