Home Bancorp Inc Stock Price, News & Analysis

Home Bancorp (HBCP) has signed a definitive Merger Agreement to acquire Friendswood Capital Corporation for $15.34 per share in cash, totaling approximately $66.6 million. This strategic acquisition will expand Home Bancorp's footprint into Texas, enhancing its community banking services in the Houston region. Following the merger, the combined company will boast around $3.2 billion in assets and $2.7 billion in deposits. The transaction, unanimously approved by both boards, is expected to close in Q1 2022 and is projected to be over 20% accretive to earnings per share after synergies are realized.

Home Bank and the Federal Home Loan Bank of Dallas have awarded $10,000 to Mountain of Faith Ministries in Vicksburg, Mississippi, through the Partnership Grant Program. This marks the second time in three years that the nonprofit has received PGP funds, crucial for its operational costs in running shelters for homeless women and children. In 2021, FHLB Dallas distributed $400,000 in PGP grants, impacting five states with a total exceeding $600,000.

Home Bank and the Federal Home Loan Bank of Dallas have awarded Crescent City Community Land Trust (CCCLT) $8,000 in Partnership Grant Program funds. These funds will assist in operational expenses and support CCCLT's mission to provide affordable housing for low- to moderate-income residents in New Orleans. Executive Director Julius Kimbrough Jr highlighted that the grant will help cover closing costs for first-time homebuyers, making homeownership more accessible. The total impact of 2021 PGP grants exceeded $600,000 across five states.

Home Bank and the Federal Home Loan Bank of Dallas awarded $16,000 to the New Orleans Neighborhood Development Foundation (NDF) to support low- to moderate-income individuals in building wealth through homeownership. The grant was presented on October 26, with NDF's Rosalind Washington noting pandemic-related funding challenges. The partnership enhances community development, with FHLB Dallas distributing over $600,000 in Partnership Grant Program funds across Louisiana and surrounding states in 2021.

Natchez-Adams County Habitat for Humanity received a $10,000 grant from Home Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) to cover operational costs including administration, accounting, and insurance.

Founded in 1991, the organization aims to eliminate substandard housing in Natchez and Adams counties. The grant is crucial due to decreased donations amid rising construction costs.

In 2021, FHLB Dallas awarded $400,000 in grants across multiple states, demonstrating strong community investment.

Home Bancorp, Inc. (HBCP) reported a net income of $15.1 million for Q3 2021, up 32% from the previous quarter. This equates to $1.79 EPS versus $1.34 EPS in Q2 2021. The reversal of $2.4 million in loan loss provisions reflects improved economic conditions, despite challenges from COVID-19 and Hurricane Ida. Total loans decreased 2% on a reported basis but grew 14% annually excluding forgiven PPP loans. The company declared a quarterly dividend of $0.23 per share and initiated a share repurchase plan for up to 430,000 shares.

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.