Welcome to our dedicated page for Home Bancorp news (Ticker: HBCP), a resource for investors and traders seeking the latest updates and insights on Home Bancorp stock.
Home Bancorp, Inc. reports recurring developments for a Louisiana bank holding company and the parent of Home Bank, N.A., a federally chartered, community-oriented bank founded in Lafayette, Louisiana. Company news centers on quarterly earnings, dividend declarations, loan and deposit activity, net interest margin, funding costs, credit quality, investment securities and capital strength.
Coverage also reflects Home Bank's operating footprint in South Louisiana, Natchez, Mississippi, and the Greater Houston area, including branch and commercial banking expansion. The bank's lending activity includes residential mortgage, home equity, commercial real estate, construction and land, multifamily, commercial and industrial, and consumer loans funded primarily by deposits and borrowings.
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.