Business
Home Bancorp Announces 2019 Fourth Quarter Results And Declares Quarterly Dividend
LAFAYETTE, La., Jan. 28, 2020 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: "HBCP") (the "Company"), the parent company for Home Bank, N.A. (the "Bank")
About this update from Home Bancorp, Inc.
[{"type":"text","content":"LAFAYETTE, La., Jan. 28, 2020 /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 2019. For the quarter, the Company reported net income of $6.6 million, or $0.73 per diluted common share (\"EPS\"), compared to $6.9 million, or $0.75 EPS, for the third quarter of 2019. \n\n \n \n\n \nKey performance metrics for the fourth quarter of 2019 (compared to the third quarter of 2019) include: \nLoans increased $6.9 million, or 2% annualized; Nonperforming assets increased $944,000, or 3%, primarily due to one commercial loan relationship in Baton Rouge; Return on average assets, return on average equity and return on average tangible common equity were 1.18%, 8.31 and 10.93%, respectively; The net interest margin increased two basis points; The Company repurchased 78,403 shares of common stock at an average price of $38.60 per share; and Bank capital remained strong with a common equity ratio of 14.38% at quarter end.\"We finished the year with another quarter of solid loan growth, which brought our 2019 loan growth total to over $64 million,\" said John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. \"We expect 2020 to be a year of strong loan and deposit growth as the investments we've made in our lending systems and processes have made us more responsive than ever.\" \nThe Company also announced that its Board of Directors declared a quarterly cash dividend on shares of its common stock of $0.22 per share payable on February 21, 2020, to shareholders of record as of February 10, 2020. \nLoans and Credit Quality\nLoans totaled $1.7 billion at December 31, 2019, up $6.9 million from September 30, 2019. Fourth quarter loan growth was focused in the following areas: construction and land loans (up $6.9 million), commercial and industrial loans (up $4.4 million) and commercial real estate loans (up $3.4 million). Construction and land loan growth was primarily driven by commercial building construction, residential development, and multi-family projects spread across our major Louisiana markets. Commercial and industrial loan growth was strongest in the Acadiana and Baton Rouge markets. Commercial real estate loan growth was primarily due to loans secured by...