LAFAYETTE, La., Oct. 20, 2025 /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 third quarter of 2025. For the quarter, the Company reported net income of $12.4 million, or $1.59 per diluted common share ("diluted EPS"), up $1.0 million from $11.3 million, or $1.45 diluted EPS, for the second quarter of 2025.
"Our third quarter results reflect continued strength and stability of the Company," said John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "While loan production was slower during the quarter, deposit growth improved reducing our loan to deposit ratio down to our target of 91%. Financial performance remained strong with ROA of 1.41% and a six-basis point NIM expansion to 4.10% for the quarter. Credit metrics reflect an increase in nonperforming and criticized loans during the quarter, but we do not anticipate any losses. We remain focused on proactively identifying and resolving problem loans as quickly as possible."
Third Quarter 2025 Highlights
Loans totaled $2.7 billion at September 30, 2025, down $58.6 million, or 2.1% (a decrease of 8% on an annualized basis), from June 30, 2025.
Deposits totaled $3.0 billion at September 30, 2025, up $67.3 million, or 2.3% (an increase of 9% on an annualized basis), from June 30, 2025.
Net interest income in the third quarter of 2025 totaled $34.1 million, up $755,000, or 2%, from the prior quarter.
The net interest margin ("NIM") was 4.10% in the third quarter of 2025 compared to 4.04% in the second quarter of 2025.
Nonperforming assets totaled $30.9 million, or 0.88% of total assets, at September 30, 2025 compared to $25.4 million, or 0.73% of total assets, at June 30, 2025. This increase in nonperforming assets is primarily due to five loan relationships which were moved to nonaccrual status, partially offset by paydowns in the third quarter of 2025.
The Company recorded a $229,000 reversal to provision to the allowance for loan losses in the third quarter of 2025, compared to a $489,000 provision in the second quarter of 2025, primarily due to loan reduction which was partially offset by an increase in nonaccrual loans during the quarter.
Loans
Loans totaled $2.7 billion at September 30, 2025, down $58.6 million, or 2.1%, from June 30, 2025. The following table summarizes the changes in the Company's loan portfolio, net of unearned income, from June 30, 2025 through September 30, 2025.
(dollars in thousands) | 9/30/2025 | 6/30/2025 | Increase (Decrease) | |||||
Real estate loans: | ||||||||
One- to four-family first mortgage | $ 490,600 | $ 504,145 | $ (13,545) | (3) % | ||||
Home equity loans and lines | 86,885 | 81,178 | 5,707 | 7 | ||||
Commercial real estate | 1,175,384 | 1,218,168 | (42,784) | (4) | ||||
Construction and land | 325,725 | 324,574 | 1,151 | — | ||||
Multi-family residential | 184,022 | 183,809 | 213 | — | ||||
Total real estate loans | 2,262,616 | 2,311,874 | (49,258) | (2) | ||||
Other loans: | ||||||||
Commercial and industrial | 413,590 | 421,997 | (8,407) | (2) | ||||
Consumer | 29,689 | 30,667 | (978) | (3) | ||||
Total other loans | 443,279 | 452,664 | (9,385) | (2) | ||||
Total loans | $ 2,705,895 | $ 2,764,538 | $ (58,643) | (2) % | ||||
The average loan yield was 6.53% for the third quarter of 2025, up 3 basis points from the second quarter of 2025. Yields on loans were impacted by higher rates on new loans and loans paying off at lower rates. We experienced a slow down in loan production and higher than usual pay downs resulting in loan reduction across most of our markets in the third quarter of 2025.
Credit Quality and Allowance for Credit Losses
Nonperforming assets ("NPAs") totaled $30.9 million, or 0.88% of total assets, at September 30, 2025, up $5.5 million, or 22%, from $25.4 million, or 0.73% of total assets, at June 30, 2025. The increase in NPAs during the third quarter of 2025 was primarily due to five loan relationships totaling $9.4 million which were put on nonaccrual during the quarter, offset by payoffs and paydowns. During the third quarter of 2025, the Company recorded net loan charge-offs of $376,000, compared to net loan charge-offs of $335,000 during the second quarter of 2025.
The Company reversed the provision to the allowance for loan losses in the amount of $229,000 in the third quarter of 2025. At September 30, 2025, the allowance for loan losses totaled $32.8 million, or 1.21% of total loans, compared to $33.4 million, or 1.21% of total loans, at June 30, 2025. Provisions to the allowance for loan losses are based upon, among other factors, our estimation of current expected losses in our loan portfolio, which we evaluate on a quarterly basis. Changes in expected losses consider various factors including the changing economic activity, borrower specific information impacting changes in risk ratings, projected delinquencies and the impact of industry-wide loan modification efforts, among other factors.
The following tables present the Company's loan portfolio by credit quality classification as of September 30, 2025 and June 30, 2025.
September 30, 2025 | ||||||||
(dollars in thousands) | Pass | Special | Substandard | Total | ||||
One- to four-family first mortgage | $ 483,737 | $ — | $ 6,863 | $ 490,600 | ||||
Home equity loans and lines | 85,877 | — | 1,008 | 86,885 | ||||
Commercial real estate | 1,140,742 | 3,067 | 31,575 | 1,175,384 | ||||
Construction and land | 314,986 | 892 | 9,847 | 325,725 | ||||
Multi-family residential | 182,731 | — | 1,291 | 184,022 | ||||
Commercial and industrial | 406,591 | — | 6,999 | 413,590 | ||||
Consumer | 29,629 | — | 60 | 29,689 | ||||
Total | $ 2,644,293 | $ 3,959 | $ 57,643 | $ 2,705,895 | ||||
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 | ||||
Investment Securities
The Company's investment securities portfolio totaled $384.4 million at September 30, 2025, a decrease of $10.1 million, or 3%, from June 30, 2025. At September 30, 2025, the Company had a net unrealized loss position on its investment securities of $26.5 million, compared to a net unrealized loss of $30.2 million at June 30, 2025. The Company's investment securities portfolio had an effective duration of 3.5 years and 3.6 years at September 30, 2025 and June 30, 2025, respectively. During the third quarter of 2025, the Company made securities purchases of $4.3 million, compared to $4.5 million during the second quarter of 2025. The Company had no securities sales during the third and second quarters of 2025.
The following table summarizes the composition of the Company's investment securities portfolio at September 30, 2025.
(dollars in thousands) | Amortized | Fair Value | ||
Available for sale: | ||||
U.S. agency mortgage-backed | $ 277,168 | $ 257,870 | ||
Collateralized mortgage obligations | 63,606 | 62,465 | ||
Municipal bonds | 53,130 | 47,810 | ||
U.S. government agency | 11,448 | 10,951 | ||
Corporate bonds | 4,490 | 4,244 | ||
Total available for sale | $ 409,842 | $ 383,340 | ||
Held to maturity: | ||||
Municipal bonds | $ 1,065 | $ 1,066 | ||
Total held to maturity | $ 1,065 | $ 1,066 |
Approximately 36% of the investment securities portfolio was pledged as of September 30, 2025 to secure public deposits. The Company had $140.2 million and $141.7 million of securities pledged to secure public deposits at September 30, 2025 and June 30, 2025, respectively.
Deposits
Total deposits were $3.0 billion at September 30, 2025, up $67.3 million, or 2%, from June 30, 2025. Non-maturity deposits increased $52.6 million, or 3%, during the third quarter of 2025 to $2.1 billion. The following table summarizes the changes in the Company's deposits from June 30, 2025 to September 30, 2025.
(dollars in thousands) | 9/30/2025 | 6/30/2025 | Increase (Decrease) | |||||
Demand deposits | $ 801,974 | $ 796,844 | $ 5,130 | 1 % | ||||
Savings | 200,135 | 204,191 | (4,056) | (2) | ||||
Money market | 499,404 | 463,332 | 36,072 | 8 | ||||
NOW | 641,204 | 625,793 | 15,411 | 2 | ||||
Certificates of deposit | 832,786 | 818,074 | 14,712 | 2 | ||||
Total deposits | $ 2,975,503 | $ 2,908,234 | $ 67,269 | 2 % | ||||
The average rate on interest-bearing deposits increased 5 basis point from 2.52% for the second quarter of 2025 to 2.57% for the third quarter of 2025. At September 30, 2025, certificates of deposit maturing within the next 12 months totaled $810.5 million.
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.
September 30, 2025 | June 30, 2025 | |||
Individuals | 52 % | 52 % | ||
Small businesses | 39 | 38 | ||
Public funds | 6 | 7 | ||
Broker | 3 | 3 | ||
Total | 100 % | 100 % | ||
The total amounts of our uninsured deposits (deposits in excess of $250,000, as calculated in accordance with FDIC regulations) were $894.8 million at September 30, 2025 and $887.9 million at June 30, 2025. Public funds in excess of the FDIC insurance limits are fully collateralized.
Net Interest Income
The net interest margin ("NIM") increased 6 basis points from 4.04% for the second quarter of 2025 to 4.10% for the third quarter of 2025, primarily due to an increase in average yield on interest-earnings assets and a decline in the average balance and cost for interest-bearing liabilities.
The average cost of interest-bearing deposits increased by 5 basis point in the third quarter of 2025 compared to the second quarter of 2025. The increase in deposit costs was primarily due to a shift in higher cost certificates of deposit and money market accounts and a decrease in lower cost checking and savings accounts.
Average other interest-earning assets were $99.7 million for the third quarter of 2025, up $28.6 million, or 40%, from the second quarter of 2025, primarily due to an increase in the average balance of cash and cash equivalents.
Average FHLB advances were $39.4 million for the third quarter of 2025, a decrease of $74.6 million, or 65%, from the second quarter of 2025 due to paydowns of FHLB advances.
Loan accretion income from acquired loans totaled $347,000 for the third quarter of 2025, down $9,000, or 3%, from the second quarter of 2025.
Noninterest Income
Noninterest income for the third quarter of 2025 totaled $3.7 million, up $22,000, or 1%, from the second quarter of 2025. The increase was related primarily to increases in service fees and charges (up $63,000), gain on sale of loans (up $30,000) and other income (up $25,000), which were partially offset by a decrease in bank card fees (down $104,000) for the third quarter of 2025 compared to the second quarter of 2025.
Noninterest Expense
Noninterest expense for the third quarter of 2025 totaled $22.5 million, up $124,000, or 1%, from the second quarter of 2025. The increase was primarily related to the absence of a reversal to the allowance for credit losses on unfunded commitments ($970,000) in the second quarter of 2025 and an increase in compensation and benefits expense (up $209,000), which were partially offset by decreases in other expenses (down $956,000) primarily due to a write off of an acquired SBA accounts receivable for guarantees that occurred in the second quarter of 2025 and data processing and communications (down $72,000) during the third quarter of 2025.
Capital
At September 30, 2025, shareholders' equity totaled $423.0 million, up $14.2 million, or 3%, compared to $408.8 million at June 30, 2025. The increase was primarily due to the Company's earnings of $12.4 million and a decrease in the accumulated other comprehensive loss on available for sale investment securities during the third quarter of 2025, which was partially offset by shareholder dividends. Preliminary Tier 1 leverage capital and total risk-based capital ratios were 11.90% and 15.24%, respectively, at September 30, 2025, compared to 11.47% and 14.66%, respectively, at June 30, 2025.
Dividend and Share Repurchases
The Company announces that its Board of Directors declared a quarterly cash dividend on shares of its common stock of $0.31 per share (an increase of 7% from the previous quarterly cash dividend) payable on November 14, 2025, to shareholders of record as of November 3, 2025.
The Company repurchased 100 shares of its common stock during the third quarter of 2025 at an average price per share of $52.29. An additional 390,972 shares remain eligible for purchase under the 2025 Repurchase Plan. The book value per share and tangible book value per share of the Company's common stock was $54.05 and $43.29, respectively, at September 30, 2025.
Conference Call
Executive management will host a conference call to discuss third quarter 2025 results on Tuesday, October 21, 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) | 9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | |||||
Reported net income | $ 12,357 | $ 11,330 | $ 10,964 | $ 9,673 | $ 9,437 | |||||
Add: Core deposit intangible amortization, net tax | 212 | 213 | 231 | 250 | 259 | |||||
Non-GAAP tangible income | $ 12,569 | $ 11,543 | $ 11,195 | $ 9,923 | $ 9,696 | |||||
Total assets | $ 3,494,074 | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | |||||
Less: Intangible assets | 84,214 | 84,482 | 84,751 | 85,044 | 85,361 | |||||
Non-GAAP tangible assets | $ 3,409,860 | $ 3,406,973 | $ 3,400,702 | $ 3,358,624 | $ 3,356,629 | |||||
Total shareholders' equity | $ 423,044 | $ 408,818 | $ 402,831 | $ 396,088 | $ 393,453 | |||||
Less: Intangible assets | 84,214 | 84,482 | 84,751 | 85,044 | 85,361 | |||||
Non-GAAP tangible shareholders' equity | $ 338,830 | $ 324,336 | $ 318,080 | $ 311,044 | $ 308,092 | |||||
Return on average equity | 11.78 % | 11.24 % | 11.02 % | 9.71 % | 9.76 % | |||||
Add: Average intangible assets | 3.24 | 3.24 | 3.23 | 2.99 | 3.14 | |||||
Non-GAAP return on average tangible common equity | 15.02 % | 14.48 % | 14.25 % | 12.70 % | 12.90 % | |||||
Common equity ratio | 12.11 % | 11.71 % | 11.56 % | 11.50 % | 11.43 % | |||||
Less: Intangible assets | 2.17 | 2.19 | 2.21 | 2.24 | 2.25 | |||||
Non-GAAP tangible common equity ratio | 9.94 % | 9.52 % | 9.35 % | 9.26 % | 9.18 % | |||||
Book value per share | $ 54.05 | $ 52.36 | $ 50.82 | $ 48.95 | $ 48.75 | |||||
Less: Intangible assets | 10.76 | 10.82 | 10.69 | 10.51 | 10.58 | |||||
Non-GAAP tangible book value per share | $ 43.29 | $ 41.54 | $ 40.13 | $ 38.44 | $ 38.17 | |||||
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) | 9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | |||||
Assets | ||||||||||
...Cash and cash equivalents | $ 189,324 | $ 112,595 | $ 110,662 | $ 98,548 | $ 135,877 | |||||
Investment securities available for sale, at fair value | 383,340 | 393,462 | 400,553 | 402,792 | 420,723 | |||||
Investment securities held to maturity | 1,065 | 1,065 | 1,065 | 1,065 | 1,065 | |||||
Mortgage loans held for sale | 1,932 | 1,305 | 1,855 | 832 | 242 | |||||
Loans, net of unearned income | 2,705,895 | 2,764,538 | 2,747,277 | 2,718,185 | 2,668,286 | |||||
Allowance for loan losses | (32,827) | (33,432) | (33,278) | (32,916) | (32,278) | |||||
Total loans, net of allowance for loan losses | 2,673,068 | 2,731,106 | 2,713,999 | 2,685,269 | 2,636,008 | |||||
Office properties and equipment, net | 45,223 | 45,216 | 45,327 | 42,324 | 42,659 | |||||
Cash surrender value of bank-owned life insurance | 49,269 | 48,981 | 48,699 | 48,421 | 48,139 | |||||
Goodwill and core deposit intangibles | 84,214 | 84,482 | 84,751 | 85,044 | 85,361 | |||||
Accrued interest receivable and other assets | 66,639 | 73,243 | 78,542 | 79,373 | 71,916 | |||||
Total Assets | $ 3,494,074 | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | |||||
Liabilities | ||||||||||
Deposits | $ 2,975,503 | $ 2,908,234 | $ 2,827,207 | $ 2,780,696 | $ 2,777,487 | |||||
Other Borrowings | 5,539 | 5,539 | 5,539 | 5,539 | 140,539 | |||||
Subordinated debt, net of issuance cost | 54,621 | 54,567 | 54,513 | 54,459 | 54,402 | |||||
Federal Home Loan Bank advances | 3,059 | 88,196 | 163,259 | 175,546 | 38,410 | |||||
Accrued interest payable and other liabilities | 32,308 | 26,101 | 32,104 | 31,340 | 37,699 | |||||
Total Liabilities | 3,071,030 | 3,082,637 | 3,082,622 | 3,047,580 | 3,048,537 | |||||
Shareholders' Equity | ||||||||||
Common stock | 78 | 78 | 79 | 81 | 81 | |||||
Additional paid-in capital | 168,016 | 166,576 | 167,231 | 168,138 | 166,743 | |||||
Common stock acquired by benefit plans | (1,071) | (1,160) | (1,250) | (1,339) | (1,428) | |||||
Retained earnings | 275,912 | 265,817 | 261,856 | 259,190 | 251,692 | |||||
Accumulated other comprehensive loss | (19,891) | (22,493) | (25,085) | (29,982) | (23,635) | |||||
Total Shareholders' Equity | 423,044 | 408,818 | 402,831 | 396,088 | 393,453 | |||||
Total Liabilities and Shareholders' Equity | $ 3,494,074 | $ 3,491,455 | $ 3,485,453 | $ 3,443,668 | $ 3,441,990 | |||||
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
CONDENSED STATEMENTS OF INCOME | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | Nine Months Ended | |||||||||
(dollars in thousands, except per share data) | 9/30/2025 | 6/30/2025 | 9/30/2024 | 9/30/2025 | 9/30/2024 | |||||
Interest Income | ||||||||||
Loans, including fees | $ 45,607 | $ 45,287 | $ 43,711 | $ 134,926 | $ 126,277 | |||||
Investment securities | 2,504 | 2,596 | 2,677 | 7,764 | 8,205 | |||||
Other investments and deposits | 1,111 | 746 | 991 | 2,362 | 2,481 | |||||
Total interest income | 49,222 | 48,629 | 47,379 | 145,052 | 136,963 | |||||
Interest Expense | ||||||||||
Deposits | 13,805 | 13,142 | 13,908 | 39,569 | 39,174 | |||||
Other borrowings | 54 | 53 | 1,673 | 160 | 4,815 | |||||
Subordinated debt expense | 845 | 844 | 844 | 2,534 | 2,533 | |||||
Federal Home Loan Bank advances | 412 | 1,239 | 572 | 3,583 | 1,765 | |||||
Total interest expense | 15,116 | 15,278 | 16,997 | 45,846 | 48,287 | |||||
Net interest income | 34,106 | 33,351 | 30,382 | 99,206 | 88,676 | |||||
(Reversal) provision for loan losses | (229) | 489 | 140 | 654 | 1,542 | |||||
Net interest income after (reversal) provision for loan losses | 34,335 | 32,862 | 30,242 | 98,552 | 87,134 | |||||
Noninterest Income | ||||||||||
Service fees and charges | 1,408 | 1,345 | 1,291 | 4,062 | 3,784 | |||||
Bank card fees | 1,646 | 1,750 | 1,613 | 4,974 | 4,939 | |||||
Gain on sale of loans, net | 144 | 114 | 195 | 635 | 408 | |||||
Income from bank-owned life insurance | 288 | 282 | 281 | 848 | 818 | |||||
(Loss) gain on sale of assets, net | — | (2) | (10) | 7 | (6) | |||||
Other income | 252 | 227 | 322 | 937 | 1,053 | |||||
Total noninterest income | 3,738 | 3,716 | 3,692 | 11,463 | 10,996 | |||||
Noninterest Expense | ||||||||||
Compensation and benefits | 13,531 | 13,322 | 13,058 | 39,505 | 38,016 | |||||
Occupancy | 2,544 | 2,513 | 2,732 | 7,618 | 7,789 | |||||
Marketing and advertising | 515 | 461 | 382 | 1,405 | 1,333 | |||||
Data processing and communication | 2,556 | 2,628 | 2,646 | 7,826 | 7,715 | |||||
Professional fees | 406 | 396 | 450 | 1,207 | 1,506 | |||||
Forms, printing and supplies | 175 | 203 | 188 | 578 | 580 | |||||
Franchise and shares tax | 475 | 483 | 488 | 1,434 | 1,463 | |||||
Regulatory fees | 459 | 502 | 493 | 1,477 | 1,471 | |||||
Foreclosed assets, net | 377 | 419 | 62 | 1,023 | 216 | |||||
Amortization of acquisition intangible | 268 | 269 | 328 | 830 | 1,011 | |||||
Reversal for credit losses on unfunded commitments | — | (970) | — | (970) | (134) | |||||
Other expenses | 1,225 | 2,181 | 1,431 | 4,584 | 3,968 | |||||
Total noninterest expense | 22,531 | 22,407 | 22,258 | 66,517 | 64,934 | |||||
Income before income tax expense | 15,542 | 14,171 | 11,676 | 43,498 | 33,196 | |||||
Income tax expense | 3,185 | 2,841 | 2,239 | 8,847 | 6,442 | |||||
Net income | $ 12,357 | $ 11,330 | $ 9,437 | $ 34,651 | $ 26,754 | |||||
Earnings per share - basic | $ 1.60 | $ 1.47 | $ 1.19 | $ 4.45 | $ 3.36 | |||||
Earnings per share - diluted | $ 1.59 | $ 1.45 | $ 1.18 | $ 4.41 | $ 3.34 | |||||
Cash dividends declared per common share | $ 0.29 | $ 0.27 | $ 0.25 | $ 0.83 | $ 0.75 | |||||
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
SUMMARY FINANCIAL INFORMATION | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | Nine Months Ended | |||||||||
(dollars in thousands, except per share data) | 9/30/2025 | 6/30/2025 | 9/30/2024 | 9/30/2025 | 9/30/2024 | |||||
EARNINGS DATA | ||||||||||
Total interest income | $ 49,222 | $ 48,629 | $ 47,379 | $ 145,052 | $ 136,963 | |||||
Total interest expense | 15,116 | 15,278 | 16,997 | 45,846 | 48,287 | |||||
Net interest income | 34,106 | 33,351 | 30,382 | 99,206 | 88,676 | |||||
(Reversal) provision for loan losses | (229) | 489 | 140 | 654 | 1,542 | |||||
Total noninterest income | 3,738 | 3,716 | 3,692 | 11,463 | 10,996 | |||||
Total noninterest expense | 22,531 | 22,407 | 22,258 | 66,517 | 64,934 | |||||
Income tax expense | 3,185 | 2,841 | 2,239 | 8,847 | 6,442 | |||||
Net income | $ 12,357 | $ 11,330 | $ 9,437 | $ 34,651 | $ 26,754 | |||||
AVERAGE BALANCE SHEET DATA | ||||||||||
Total assets | $ 3,467,070 | $ 3,474,762 | $ 3,405,083 | $ 3,463,833 | $ 3,368,857 | |||||
Total interest-earning assets | 3,255,291 | 3,261,733 | 3,202,364 | 3,252,602 | 3,167,518 | |||||
Total loans | 2,743,695 | 2,764,065 | 2,668,672 | 2,750,985 | 2,641,414 | |||||
PPP loans | 235 | 330 | 4,470 | 624 | 5,004 | |||||
Total interest-bearing deposits | 2,128,540 | 2,087,781 | 1,989,182 | 2,085,330 | 1,964,095 | |||||
Total interest-bearing liabilities | 2,228,117 | 2,261,916 | 2,240,838 | 2,256,278 | 2,212,453 | |||||
Total deposits | 2,918,938 | 2,863,683 | 2,730,568 | 2,852,176 | 2,709,555 | |||||
Total shareholders' equity | 416,239 | 404,367 | 384,518 | 408,083 | 376,170 | |||||
PER SHARE DATA | ||||||||||
Earnings per share - basic | $ 1.60 | $ 1.47 | $ 1.19 | $ 4.45 | $ 3.36 | |||||
Earnings per share - diluted | 1.59 | 1.45 | 1.18 | 4.41 | 3.34 | |||||
Book value at period end | 54.05 | 52.36 | 48.75 | 54.05 | 48.75 | |||||
Tangible book value at period end | 43.29 | 41.54 | 38.17 | 43.29 | 38.17 | |||||
Shares outstanding at period end | 7,827,481 | 7,808,421 | 8,070,539 | 7,827,481 | 8,070,539 | |||||
Weighted average shares outstanding | ||||||||||
Basic | 7,712,707 | 7,707,423 | 7,921,582 | 7,789,001 | 7,959,309 | |||||
Diluted | 7,782,979 | 7,781,021 | 7,966,957 | 7,862,712 | 8,008,305 | |||||
SELECTED RATIOS (1) | ||||||||||
Return on average assets | 1.41 % | 1.31 % | 1.10 % | 1.34 % | 1.06 % | |||||
Return on average equity | 11.78 | 11.24 | 9.76 | 11.35 | 9.50 | |||||
Common equity ratio | 12.11 | 11.71 | 11.43 | 12.11 | 11.43 | |||||
Efficiency ratio (2) | 59.54 | 60.45 | 65.32 | 60.10 | 65.15 | |||||
Average equity to average assets | 12.01 | 11.64 | 11.29 | 11.78 | 11.17 | |||||
Tier 1 leverage capital ratio (3) | 11.90 | 11.47 | 11.32 | 11.90 | 11.32 | |||||
Total risk-based capital ratio (3) | 15.24 | 14.66 | 14.74 | 15.24 | 14.74 | |||||
Net interest margin (4) | 4.10 | 4.04 | 3.71 | 4.02 | 3.67 | |||||
SELECTED NON-GAAP RATIOS (1) | ||||||||||
Tangible common equity ratio (5) | 9.94 % | 9.52 % | 9.18 % | 9.94 % | 9.18 % | |||||
Return on average tangible common equity (6) | 15.02 | 14.48 | 12.90 | 14.59 | 12.68 | |||||
(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 21%. |
(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 | ||||||||||||||||||
9/30/2025 | 6/30/2025 | 9/30/2024 | ||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Average | Interest | Average | Average | Interest | Average | |||||||||
Interest-earning assets: | ||||||||||||||||||
Loans receivable | $ 2,743,695 | $ 45,607 | 6.53 % | $ 2,764,065 | $ 45,287 | 6.50 % | $ 2,668,672 | $ 43,711 | 6.43 % | |||||||||
Investment securities (TE)(1) | 411,889 | 2,504 | 2.45 | 426,601 | 2,596 | 2.45 | 454,024 | 2,677 | 2.38 | |||||||||
Other interest-earning assets | 99,707 | 1,111 | 4.42 | 71,067 | 746 | 4.21 | 79,668 | 991 | 4.95 | |||||||||
Total interest-earning assets | $ 3,255,291 | $ 49,222 | 5.95 % | $ 3,261,733 | $ 48,629 | 5.92 % | $ 3,202,364 | $ 47,379 | 5.82 % | |||||||||
Interest-bearing liabilities: | ||||||||||||||||||
Deposits: | ||||||||||||||||||
Savings, checking, and money market | $ 1,301,888 | $ 5,783 | 1.76 % | $ 1,296,541 | $ 5,531 | 1.71 % | $ 1,266,465 | $ 5,571 | 1.75 % | |||||||||
Certificates of deposit | 826,652 | 8,022 | 3.85 | 791,240 | 7,611 | 3.86 | 722,717 | 8,337 | 4.59 | |||||||||
Total interest-bearing deposits | 2,128,540 | 13,805 | 2.57 | 2,087,781 | 13,142 | 2.52 | 1,989,182 | 13,908 | 2.78 | |||||||||
Other borrowings | 5,539 | 54 | 3.80 | 5,572 | 53 | 3.84 | 140,539 | 1,673 | 4.74 | |||||||||
Subordinated debt | 54,593 | 845 | 6.19 | 54,540 | 844 | 6.20 | 54,374 | 844 | 6.21 | |||||||||
FHLB advances | 39,445 | 412 | 4.12 | 114,023 | 1,239 | 4.30 | 56,743 | 572 | 3.99 | |||||||||
Total interest-bearing liabilities | $ 2,228,117 | $ 15,116 | 2.69 % | $ 2,261,916 | $ 15,278 | 2.71 % | $ 2,240,838 | $ 16,997 | 3.02 % | |||||||||
Noninterest-bearing deposits | $ 790,398 | $ 775,902 | $ 741,387 | |||||||||||||||
Net interest spread (TE)(1) | 3.26 % | 3.21 % | 2.80 % | |||||||||||||||
Net interest margin (TE)(1) | 4.10 % | 4.04 % | 3.71 % | |||||||||||||||
(1) | Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21% |
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||||
Consolidated Net Interest Margin | ||||||||||||
(Unaudited) | ||||||||||||
Nine Months Ended | ||||||||||||
9/30/2025 | 9/30/2024 | |||||||||||
(dollars in thousands) | Average | Interest | Average | Average | Interest | Average | ||||||
Interest-earning assets: | ||||||||||||
Loans receivable | $ 2,750,985 | $ 134,926 | 6.49 % | $ 2,641,414 | $ 126,277 | 6.30 % | ||||||
Investment securities (TE)(1) | 425,915 | 7,764 | 2.45 | 463,333 | 8,205 | 2.38 | ||||||
Other interest-earning assets | 75,702 | 2,362 | 4.17 | 62,771 | 2,481 | 5.28 | ||||||
Total interest-earning assets | $ 3,252,602 | $ 145,052 | 5.90 % | $ 3,167,518 | $ 136,963 | 5.71 % | ||||||
Interest-bearing liabilities: | ||||||||||||
Deposits: | ||||||||||||
Savings, checking, and money market | $ 1,301,660 | $ 16,715 | 1.72 % | $ 1,265,420 | $ 15,479 | 1.63 % | ||||||
Certificates of deposit | 783,670 | 22,854 | 3.90 | 698,675 | 23,695 | 4.53 | ||||||
Total interest-bearing deposits | 2,085,330 | 39,569 | 2.54 | 1,964,095 | 39,174 | 2.66 | ||||||
Other borrowings | 5,550 | 160 | 3.84 | 135,727 | 4,815 | 4.74 | ||||||
Subordinated debt | 54,540 | 2,534 | 6.20 | 54,322 | 2,533 | 6.22 | ||||||
FHLB advances | 110,858 | 3,583 | 4.27 | 58,309 | 1,765 | 4.01 | ||||||
Total interest-bearing liabilities | $ 2,256,278 | $ 45,846 | 2.71 % | $ 2,212,453 | $ 48,287 | 2.91 % | ||||||
Noninterest-bearing deposits | $ 766,846 | $ 745,460 | ||||||||||
Net interest spread (TE)(1) | 3.19 % | 2.80 % | ||||||||||
Net interest margin (TE)(1) | 4.02 % | 3.67 % | ||||||||||
(1) | Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%. |
HOME BANCORP, INC. AND SUBSIDIARY | ||||||||||
SUMMARY CREDIT QUALITY INFORMATION | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended | ||||||||||
9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | ||||||
CREDIT QUALITY (1) | ||||||||||
Nonaccrual loans: | ||||||||||
One- to four-family first mortgage | $ 6,402 | $ 6,272 | $ 6,368 | $ 7,039 | $ 7,750 | |||||
Home equity loans and lines | 1,008 | 1,033 | 372 | 279 | 208 | |||||
Commercial real estate | 10,016 | 7,669 | 4,349 | 3,304 | 7,064 | |||||
Construction and land | 9,847 | 6,103 | 5,584 | 1,622 | 2,127 | |||||
Multi-family residential | 973 | 916 | 930 | — | — | |||||
Commercial and industrial | 1,161 | 1,312 | 1,206 | 1,311 | 777 | |||||
Consumer | 60 | 35 | 161 | 27 | 129 | |||||
Total nonaccrual loans | $ 29,467 | $ 23,340 | $ 18,970 | $ 13,582 | $ 18,055 | |||||
Accruing loans 90 days or more past due | 55 | 12 | 77 | 16 | 34 | |||||
Total nonperforming loans | 29,522 | 23,352 | 19,047 | 13,598 | 18,089 | |||||
Foreclosed assets and ORE | 1,384 | 2,077 | 2,424 | 2,010 | 267 | |||||
Total nonperforming assets | $ 30,906 | $ 25,429 | $ 21,471 | $ 15,608 | $ 18,356 | |||||
Nonperforming assets to total assets | 0.88 % | 0.73 % | 0.62 % | 0.45 % | 0.53 % | |||||
Nonperforming loans to total assets | 0.84 | 0.67 | 0.55 | 0.39 | 0.53 | |||||
Nonperforming loans to total loans | 1.09 | 0.84 | 0.69 | 0.50 | 0.68 | |||||
ALLOWANCE FOR CREDIT LOSSES | ||||||||||
Allowance for loan losses: | ||||||||||
Beginning balance | $ 33,432 | $ 33,278 | $ 32,916 | $ 32,278 | $ 32,212 | |||||
(Reversal) provision for loan losses | (229) | 489 | 394 | 873 | 140 | |||||
Charge-offs | (488) | (460) | (226) | (255) | (215) | |||||
Recoveries | 112 | 125 | 194 | 20 | 141 | |||||
Net charge-offs | (376) | (335) | (32) | (235) | (74) | |||||
Ending balance | $ 32,827 | $ 33,432 | $ 33,278 | $ 32,916 | $ 32,278 | |||||
Reserve for unfunded lending commitments(2) | ||||||||||
Beginning balance | $ 1,730 | $ 2,700 | $ 2,700 | $ 2,460 | $ 2,460 | |||||
(Reversal) provision for losses on unfunded lending commitments | — | (970) | — | 240 | — | |||||
Ending balance | $ 1,730 | $ 1,730 | $ 2,700 | $ 2,700 | $ 2,460 | |||||
Total allowance for credit losses | 34,557 | 35,162 | 35,978 | 35,616 | 34,738 | |||||
Total loans | $ 2,705,895 | $ 2,764,538 | $ 2,747,277 | $ 2,718,185 | $ 2,668,286 | |||||
Total unfunded commitments | 509,709 | 492,306 | 508,864 | 516,785 | 527,333 | |||||
Allowance for loan losses to nonperforming assets | 106.22 % | 131.47 % | 154.99 % | 210.89 % | 175.84 % | |||||
Allowance for loan losses to nonperforming loans | 111.20 | 143.17 | 174.72 | 242.07 | 178.44 | |||||
Allowance for loan losses to total loans | 1.21 | 1.21 | 1.21 | 1.21 | 1.21 | |||||
Allowance for credit losses to total loans | 1.28 | 1.27 | 1.31 | 1.31 | 1.30 | |||||
Year-to-date loan charge-offs | $ (1,174) | $ (686) | $ (226) | $ (1,285) | $ (1,030) | |||||
Year-to-date loan recoveries | 431 | 319 | 194 | 249 | 229 | |||||
Year-to-date net loan charge-offs | $ (743) | $ (367) | $ (32) | $ (1,036) | $ (801) | |||||
Annualized YTD net loan charge-offs to average loans | (0.04) % | (0.03) % | — % | (0.04) % | (0.04) % | |||||
(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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