Business
Home Bancorp, Inc. Announces 2020 Second Quarter Results And Declares Quarterly Dividend
LAFAYETTE, La., July 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., July 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 second quarter of 2020. For the quarter, the Company reported net income of $2.5 million, or $0.29 per diluted common share (\"diluted EPS\"), compared to $1.9 million, or $0.21 diluted EPS, for the first quarter of 2020. \n\n \n \n \n \n \n \n\n \n\"While the long-term impact of COVID-19's effect on our economy remains tremendously difficult to estimate,\" said John W. Bordelon, Chairman, President and Chief Executive Officer of the Company and the Bank, \"I've admired how our customers have managed the short-term challenges they've faced. They have adjusted their operations in countless ways to ensure they continue to serve their clients as best they can. That said, the challenges they face are significant as the virus spreads and the economy continues to struggle.\"\n\"Just as the businesses we bank have stepped up to serve their clients, our bankers have done a wonderful job stepping up for our customers,\" continued Bordelon. \"Over the past several months, our employees have been reminded time and time again of the critical role we play in our communities. Despite the uncertain road before us, the spirit within our company has never been higher. We will rise to meet the challenges ahead. We will serve one another, our customers and communities like never before.\" \nCOVID-19 Response\nWhile banking operations have not been restrained by state and local government COVID-19 restrictions, we have adapted to protect our employees and customers by working remotely as much as possible, enhancing cleaning procedures, and enacting several other measures to reduce the risk of transmission of the virus. \nThe Company has been active in providing Small Business Administration (\"SBA\") Paycheck Protection Program (\"PPP\") loans. Through July 24, 2020, we have funded or are currently in the process of funding approximately 2,970 loans totaling $260.2 million under the PPP. At June 30, 2020, the total recorded net investment in PPP loans was $249.6 million. \nTo give immediate financial support to our customers, the Company began providing principal and/or interest payment relief options in March 2020. When we last reported ...