LAFAYETTE, La., Jan. 27 /PRNewswire-FirstCall/ -- Home Bancorp,
Inc. (NASDAQ:HBCP) (the "Company"), the holding company for Home
Bank (http://www.home24bank.com/), a Federally chartered savings
bank headquartered in Lafayette, Louisiana (the "Bank"), announced
net income of $4.7 million for 2009, an increase of $2.0 million,
or 72%, compared to 2008. Net income for the fourth quarter of 2009
was $22,000, an increase of $821,000, or 103%, compared to the
fourth quarter of 2008. "During 2009, Home Bank remained focused on
growing our commercial loan portfolio and core deposit base," said
John W. Bordelon, President and Chief Executive Officer of the
Company and the Bank. "I am pleased with the strong growth we
achieved in both areas. I am especially pleased we were able to
grow commercial loans while maintaining exceptional loan quality."
Baton Rouge Expansion Proceeds Home Bank began construction on its
third full-service branch in Baton Rouge during the third quarter
of 2009. The new branch, which is expected to open in March 2010,
will serve as the Bank's Baton Rouge headquarters. "We are very
excited about the upcoming opening of our Baton Rouge headquarters
location," added Mr. Bordelon. "Our recruiting success over the
past two years has allowed us to quickly gain traction in this
market. As our new Baton Rouge customers have already discovered,
we offer an extraordinary alternative to the large, out-of-state
banks that have dominated the area." Loans Loans totaled $336.6
million at December 31, 2009, an increase of $1.1 million, or 0.3%,
from December 31, 2008, and a decrease of $3.6 million, or 1%, from
September 30, 2009. The Company's loan mix continued to change in
2009 as commercial loan balances increased, while one-to four-
family mortgage loan balances decreased. The following table sets
forth the composition of the Company's loan portfolio as of the
dates indicated. December 31, December 31, (dollars in thousands)
2009 2008 ---------------------- ------------ ------------ Real
estate loans: One- to four-family first mortgage $120,044 $138,173
Home equity loans and lines 24,678 23,127 Commercial real estate
97,513 84,096 Construction and land 35,364 35,399 Multi-family
residential 4,089 7,142 ------------------------ ----- ----- Total
real estate loans 281,688 287,937 ----------------------- -------
------- Other loans: Commercial 38,340 34,434 Consumer 16,619
13,197 -------- ------ ------ Total other loans 54,959 47,631
----------------- ------ ------ Total loans $336,647 $335,568
=========== ======== ======== Increase (Decrease) --------
---------- (dollars in thousands) Amount Percent
---------------------- ------ ------- Real estate loans: One- to
four-family first mortgage $(18,129) (13)% Home equity loans and
lines 1,551 7 Commercial real estate 13,417 16 Construction and
land (35) - Multi-family residential (3,053) (43)
------------------------ ------ --- Total real estate loans (6,249)
(2) ----------------------- ------ --- Other loans: Commercial
3,906 11 Consumer 3,422 26 -------- ----- --- Total other loans
7,328 15 ----------------- ----- --- Total loans $1,079 -
=========== ====== === Commercial real estate loan growth during
2009 was primarily driven by loans on owner-occupied office
buildings in the Bank's market areas. Non-real-estate commercial
loan growth in 2009 relates primarily to equipment and accounts
receivable financing provided to businesses in the Bank's market
areas. Consumer loan growth in 2009 relates primarily to mobile
home loans. One- to four-family first mortgage loans paid down
during the year as customers took advantage of attractive refinance
rates. The Company sells the majority of its conforming mortgage
loan originations in the secondary market and recognizes the
associated fee income rather than assume the interest rate risk
associated with these longer term assets. Net loan charge-offs for
2009 were $119,000, or 0.04%, of average loans, compared to
$167,000, or 0.05%, of average loans in 2008. Non-performing assets
totaled $1.7 million, or 0.32% of total assets at December 31,
2009, compared to $1.5 million and $2.7 million at December 31,
2008 and September 30, 2009, respectively. The Company recorded a
$156,000 provision for loan losses during the fourth quarter of
2009, compared to $298,000 during the fourth quarter of 2008 and
$287,000 in the third quarter of 2009. As of December 31, 2009, the
allowance for loan losses as a percentage of total loans was 1.00%,
compared to 0.78% at December 31, 2008 and 0.96% at September 30,
2009. Investment Securities Portfolio The Company's investment
securities portfolio totaled $119.9 million at December 31, 2009,
an increase of $1.5 million, or 1%, from December 31, 2008, and an
increase of $3.4 million, or 3%, from September 30, 2009. At
December 31, 2009, the Company had a net unrealized loss position
on its investment securities portfolio of $133,000, compared to net
unrealized losses of $8.0 million and $2.7 million at December 31,
2008 and September 30, 2009, respectively. The unrealized loss
relates primarily to the Company's non-agency mortgage-backed
securities holdings, which amounted to $39.7 million, or 8% of
total assets at December 31, 2009. Due to increasing delinquencies
and defaults in the mortgage loans underlying certain non-agency
mortgage-backed securities we own, the Company recorded
other-than-temporary impairment ("OTTI") charges of $1.9 million
and $2.8 million during the fourth quarters of 2009 and 2008,
respectively. Based on management's review of the remaining
investment portfolio, no other declines in the market value of the
Company's investment securities are deemed to be other than
temporary at December 31, 2009. The amortized cost of this
portfolio decreased from $51.1 million at December 31, 2008 to
$39.7 million at December 31, 2009 primarily as a result of
principal paydowns and the $1.9 million OTTI charge. The following
table summarizes the Company's non-agency mortgage-backed
securities portfolio as of December 31, 2009 (dollars in
thousands). Collateral Tranche S&P Rating ---------- -------
---------- Prime Super senior AAA Prime Senior AAA (1) Prime Senior
Below investment grade Prime Senior support Below investment grade
Alt-A Super senior Below investment grade Alt-A Senior AAA Alt-A
Senior Below investment grade(2) Alt-A Senior support Below
investment grade ----- ------- ---------------------- Total non-
agency mortgage- backed securities ========== Collateral Amortized
Unrealized ---------- --------- ---------- Cost Gain/(Loss) ----
----------- Prime $10,189 $130 Prime 18,743 (1,462) Prime 3,113 -
Prime 2,719 (545) Alt-A 2,202 - Alt-A 771 23 Alt-A 1,774 - Alt-A
196 - ----- --- --- Total non- agency mortgage- backed securities
$39,707 $(1,854) ========== ======= ======= (1) Includes one
security with an amortized cost of $1.9 million and an unrealized
loss of $56,000 not rated by S&P. This security is rated "Aaa"
by Moody's. (2) This security is not rated by S&P. This
security is rated "Caa2" by Moody's. The Company holds no Federal
National Mortgage Association (Fannie Mae) or Federal Home Loan
Mortgage Corporation (Freddie Mac) preferred stock, equity
securities, corporate bonds, trust preferred securities, hedge fund
investments, collateralized debt obligations or structured
investment vehicles. Cash Invested at Other ATM Locations During
2009, the Bank elected to terminate contracts with various
counterparties to provide cash for counterparty ATMs. As a result,
all remaining cash invested at other ATM locations was returned to
the Bank during the fourth quarter. The balance of cash invested at
other ATM locations totaled $24.2 million at December 31, 2008 and
$8.8 million at September 30, 2009. Deposits Deposits totaled
$371.6 million at December 31, 2009, an increase of $17.4 million,
or 5%, from December 31, 2008, and a decrease of $5.0 million, or
1%, from September 30, 2009. The Company remains focused on growing
its core deposit base (i.e., checking, savings and money market
accounts), which increased $19.3 million, or 10%, during 2009. The
following table sets forth the composition of the Company's
deposits as of the dates indicated. December 31, December 31,
(dollars in thousands) 2009 2008 ----------- ---- ---- Demand
deposit $66,956 $67,047 Savings 21,009 19,741 Money market 80,810
68,850 NOW 48,384 42,200 Certificates of deposit 154,434 156,307
--------------- ------- ------- Total deposits $371,593 $354,145
============== ======== ======== (dollars in Increase (Decrease)
thousands) Amount Percent ----------- ------ ------- Demand deposit
$(91) - % Savings 1,268 6 Money market 11,960 17 NOW 6,184 15
Certificates of deposit (1,873) (1) --------------- ------ ---
Total deposits $17,448 5% ============== ======= === Net Interest
Income Net interest income for the fourth quarter of 2009 totaled
$5.5 million, a decrease of $83,000, or 2%, compared to the fourth
quarter of 2008. Net interest income for 2009 totaled $23.6
million, an increase of $4.9 million, or 26%, compared to 2008. The
Company's net interest margin was 4.40% for the fourth quarter of
2009, 21 basis points lower than the same quarter a year ago and 43
basis points lower than the third quarter of 2009. Average
interest-earning assets totaled $496.5 million for the quarter
ended December 31, 2009, an increase of 3% and a decrease of 1%
compared to the quarters ended December 31, 2008 and September 30,
2009, respectively. The average yield on interest-earning assets
for the quarter ended December 31, 2009 was 5.60%, a decrease of 46
and 49 basis points compared to the quarters ended December 31,
2008 and September 30, 2009, respectively. The average yield on
interest-earning assets has decreased primarily due to lower yields
earned on the investment portfolio and the Company's relatively
high cash position during the fourth quarter of 2009. Average
interest-bearing liabilities totaled $327.9 million for the quarter
ended December 31, 2009, an increase of 6% and a decrease of 0.2%
compared to the quarters ended December 31, 2008 and September 30,
2009, respectively. The average rate paid on interest-bearing
liabilities for the quarter ended December 31, 2009 was 1.79%, a
decrease of 45 and 9 basis points compared to the quarters ended
December 31, 2008 and September 30, 2009, respectively. The average
rate paid on interest-bearing liabilities decreased primarily due
to lower market rates. Noninterest Income Noninterest income
includes the impact of OTTI charges of $1.9 million and $2.8
million for the fourth quarters of 2009 and 2008, respectively.
Excluding the impact of OTTI charges, noninterest income for the
fourth quarter of 2009 was $1.1 million, an increase of $256,000,
or 31%, compared to the same quarter a year ago. Excluding the
impact of OTTI charges, noninterest income for 2009 totaled $4.0
million, an increase of $759,000, or 24%, compared to 2008. The
primary reasons for the non-GAAP (generally accepted accounting
principles) increases in noninterest income compared to the same
periods last year were higher levels of service fees and charges
and gains on the sale of mortgage loans. Noninterest income for the
fourth quarter of 2009 on a GAAP basis was a negative $813,000,
compared to a negative $2.0 million for the same quarter a year
ago. Noninterest income for 2009 on a GAAP basis totaled $2.1
million, an increase of $1.7 million, or 428%, compared to 2008.
The following table sets forth a reconciliation of reported
noninterest income to non-GAAP basis noninterest income. For the
Three Months Ended December 31, (dollars in thousands) 2009 2008
---------------------- ---- ---- Reported noninterest income $(813)
$(2,013) Add: OTTI charge 1,888 2,833 ---------------- ----- -----
Non-GAAP noninterest income $1,075 $820 ==================== ======
==== For the Year Ended December 31, (dollars in thousands) 2009
2008 ---------------------- ---- ---- Reported noninterest income
$2,102 $398 Add: OTTI charge 1,888 2,833 ---------------- -----
----- Non-GAAP noninterest income $3,990 $3,231
==================== ====== ====== Noninterest Expense Noninterest
expense for the fourth quarter of 2009 totaled $4.5 million, a
decrease of $231,000, or 5%, compared to the fourth quarter of
2008. Noninterest expense for 2009 totaled $17.8 million, an
increase of $3.1 million, or 21%, from 2008. The fourth quarter of
2008 includes an $867,000 charge related to a shortfall in cash
invested at other ATM locations. Excluding the ATM charge,
noninterest expense increased $636,000, or 17%, for the fourth
quarter of 2009 compared to the same quarter a year ago and $3.9
million, or 28%, for 2009 compared to 2008. The primary reason for
the increase in noninterest expense from 2008 to 2009 was higher
compensation and benefits expense. Compensation and benefits
expense has increased primarily due to three factors: 1) the Bank's
expansion into Baton Rouge, where two full-service banking offices
were opened during the second half of 2008; 2) the employee stock
ownership plan ("ESOP"), which commenced during the fourth quarter
of 2008; and 3) award grants under the stock option and recognition
and retention plans approved by the Company's shareholders in May
2009. Other increases in noninterest expense were the result of
higher professional and other fees due to the increased cost of
operating as a public company, including the Louisiana bank shares
tax. Also, the FDIC increased the base insurance premium assessment
on deposits in addition to its special assessment of $200,000 in
2009. The following table sets forth a reconciliation of reported
noninterest expense to non-GAAP basis noninterest expense. For the
Three Months Ended December 31, (dollars in thousands) 2009 2008
---------------------- ---- ---- Reported noninterest expense
$4,491 $4,722 Less: ATM charge - (867) ---------------- --- ----
Non-GAAP noninterest expense $4,491 $3,855 ====================
====== ====== For the Year Ended December 31, (dollars in
thousands) 2009 2008 ---------------------- ---- ---- Reported
noninterest expense $17,808 $14,735 Less: ATM charge - (867)
---------------- --- ---- Non-GAAP noninterest expense $17,808
$13,868 ==================== ======= ======= 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 the impact of charges for
the other-than-temporary impairment of investment securities and a
shortage in cash invested at other ATM locations. Management
believes the presentation of this non-GAAP financial information
provides useful information that may be helpful in understanding
the Company's operating results. This non-GAAP financial
information should not be viewed as a substitute for operating
results determined in accordance with GAAP, nor are they
necessarily comparable to non-GAAP financial information presented
by other companies. This news release contains certain
forwardlooking statements. Forwardlooking 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." Forwardlooking
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 forwardlooking
statements. Home Bancorp's Annual Report on Form 10-K for the year
ended December 31, 2008, describes some of these factors, including
risk elements in the loan portfolio, the level of the allowance for
losses on loans, 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. Forwardlooking statements speak only as
of the date they are made. We do not undertake to update
forwardlooking statements to reflect circumstances or events that
occur after the date the forwardlooking statements are made or to
reflect the occurrence of unanticipated events. HOME BANCORP, INC.
AND SUBSIDIARY CONDENSED STATEMENTS OF FINANCIAL CONDITION AND
RELATED INFORMATION December 31, December 31, % 2009 2008 Change
---- ---- ------ Assets Cash and cash equivalents $25,709,597
$20,150,248 28 % Interest-bearing deposits in banks 3,529,000
1,685,000 109 Cash invested at other ATM locations - 24,243,780 -
Securities available for sale, at fair value 106,752,131
114,235,261 (7) Securities held to maturity 13,098,847 4,089,466
220 Mortgage loans held for sale 719,350 996,600 (28) Loans, net of
unearned income 336,647,292 335,568,071 - Allowance for loan losses
(3,351,688) (2,605,889) 29 ---------- ---------- --- Loans, net
333,295,604 332,962,182 - ----------- ----------- --- Office
properties and equipment, net 16,186,690 15,325,997 6 Cash
surrender value of bank-owned life insurance 15,262,645 5,268,817
190 Accrued interest receivable and other assets 10,081,885
9,439,637 7 ---------- --------- --- Total Assets $524,635,749
$528,396,988 (1) % ============ ============ === Liabilities
Deposits $371,592,747 $354,145,105 5 % Federal Home Loan Bank
advances 16,773,802 44,420,795 (62) Accrued interest payable and
other liabilities 3,519,896 2,868,362 23 --------- --------- ---
Total Liabilities 391,886,445 401,434,262 (2) -----------
----------- --- Shareholders' Equity Common stock $89,270 $89,270 -
% Additional paid-in capital 88,072,884 87,182,281 1 Treasury stock
(1,848,862) - - Common stock acquired by benefit plans (10,913,470)
(7,052,230) 55 Retained earnings 57,437,444 52,055,071 10
Accumulated other comprehensive loss (87,962) (5,311,666) 98
------- ---------- --- Total Shareholders' Equity 132,749,304
126,962,726 5 ----------- ----------- --- Total Liabilities and
Shareholders' Equity $524,635,749 $528,396,988 (1) % ============
============ === September 30, 2009 ---- Assets Cash and cash
equivalents $37,352,620 Interest-bearing deposits in banks
3,150,000 Cash invested at other ATM locations 8,802,596 Securities
available for sale, at fair value 105,049,877 Securities held to
maturity 11,372,044 Mortgage loans held for sale 2,060,453 Loans,
net of unearned income 340,222,334 Allowance for loan losses
(3,271,926) ---------- Loans, net 336,950,408 ----------- Office
properties and equipment, net 15,309,879 Cash surrender value of
bank- owned life insurance 5,461,662 Accrued interest receivable
and other assets 7,900,029 --------- Total Assets $533,409,568
============ Liabilities Deposits $376,635,513 Federal Home Loan
Bank advances 19,879,026 Accrued interest payable and other
liabilities 4,302,342 --------- Total Liabilities 400,816,881
----------- Shareholders' Equity Common stock $89,270 Additional
paid-in capital 87,714,515 Treasury stock - Common stock acquired
by benefit plans (10,841,597) Retained earnings 57,415,818
Accumulated other comprehensive loss (1,785,319) ---------- Total
Shareholders' Equity 132,592,687 ----------- Total Liabilities and
Shareholders' Equity $533,409,568 ============ HOME BANCORP, INC.
AND SUBSIDIARY CONDENSED STATEMENTS OF INCOME AND RELATED
INFORMATION For The Three Months Ended December 31, % 2009 2008
Change --- ---- ------ Interest Income Loans, including fees
$5,586,544 $5,534,213 1 % Investment securities 1,357,827 1,478,963
(8) Other investments and deposits 45,342 317,715 (86) ------
------- --- Total interest income 6,989,713 7,330,891 (5) ---------
--------- --- Interest Expense Deposits 1,309,249 1,575,505 (17) %
Federal Home Loan Bank advances 168,156 160,495 5 ------- -------
--- Total interest expense 1,477,405 1,736,000 (15) ---------
--------- --- Net interest income 5,512,308 5,594,891 (2) Provision
for loan losses 155,670 297,775 (48) ------- ------- --- Net
interest income after provision for loan losses 5,356,638 5,297,116
1 --------- --------- --- . Noninterest Income Service fees and
charges 478,977 412,763 16 % Bank card fees 269,176 250,911 7 Gain
on sale of loans, net 190,511 61,903 208 Income from bank-owned
life insurance 99,280 67,345 47 Net gain (loss) on sale of real
estate owned, net 18,873 (12,448) 252 Other-than-temporary
impairment of securities (1,888,381) (2,832,920) 33 Other income
18,453 39,141 (53) ------ ------ --- Total noninterest income
(813,111) (2,013,305) 60 -------- ---------- --- Noninterest
Expense Compensation and benefits 3,038,901 2,378,386 28 %
Occupancy 324,609 320,589 1 Marketing and advertising 180,479
198,147 (9) Data processing and communication 353,406 352,752 -
Professional fees 167,499 175,208 (4) ATM losses - 867,389 -
Franchise and shares taxes (69,061) - - Regulatory fees 105,580
41,409 155 Other expenses 389,340 388,117 - ------- ------- ---
Total noninterest expense 4,490,753 4,721,997 (5) ---------
--------- --- Income (loss) before income tax expense (benefit)
52,774 (1,438,186) 104 Income tax expense (benefit) 31,148
(639,089) 105 ------ -------- --- Net income (loss) $21,626
$(799,097) 103 % ======= ========= === Earnings (loss) per share -
basic $- $(0.10) - === ====== === Earnings (loss) per share -
diluted $- $(0.10) - === ====== === For The Year Ended December 31,
% 2009 2008 Change --- ---- ------ Interest Income Loans, including
fees $22,321,209 $21,790,163 2 % Investment securities 6,569,756
4,283,960 53 Other investments and deposits 1,005,353 1,354,627
(26) --------- --------- --- Total interest income 29,896,318
27,428,750 9 ---------- ---------- --- Interest Expense (30)
Deposits 5,529,181 7,903,313 % Federal Home Loan Bank advances
807,499 843,937 (4) ------- ------- --- Total interest expense
6,336,680 8,747,250 (28) --------- --------- --- Net interest
income 23,559,638 18,681,500 26 Provision for loan losses 864,880
459,212 88 ------- ------- --- Net interest income after provision
for loan losses 22,694,758 18,222,288 25 ---------- ---------- ---
. Noninterest Income Service fees and charges 1,849,746 1,668,757
11 % Bank card fees 1,089,811 933,788 17 Gain on sale of loans, net
610,952 254,456 140 Income from bank-owned life insurance 292,125
262,202 11 Net gain (loss) on sale of real estate owned, net 18,873
(23,727) 180 Other-than-temporary impairment of securities
(1,888,381) (2,832,920) 33 Other income 128,733 135,617 (5) -------
------- --- Total noninterest income 2,101,859 398,173 428
--------- ------- --- Noninterest Expense Compensation and benefits
10,827,537 8,834,026 23 % Occupancy 1,296,592 1,207,675 7 Marketing
and advertising 633,530 607,550 4 Data processing and communication
1,402,290 1,370,101 2 Professional fees 896,552 410,377 118 ATM
losses - 867,389 - Franchise and shares taxes 609,689 - -
Regulatory fees 596,305 154,407 286 Other expenses 1,545,253
1,283,492 20 --------- --------- --- Total noninterest expense
17,807,748 14,735,017 21 ---------- ---------- --- Income (loss)
before income tax expense (benefit) 6,988,869 3,885,444 80 Income
tax expense (benefit) 2,309,268 1,169,852 97 --------- ---------
--- Net income (loss) $4,679,601 $2,715,592 72 % ==========
========== === Earnings (loss) per share - basic $0.58 $1.32 (1)
===== ===== Earnings (loss) per share - diluted $0.58 $1.32 (1)
===== ===== (1) Basic weighted average common shares outstanding
totaled 8,031,317 and 2,053,925 for the years ended December 31,
2009 and 2008, respectively. Diluted weighted average common shares
outstanding totaled 8,052,087 and 2,053,925 for the same periods.
The Company completed its initial public offering of common stock
in October 2008. Hence, the weighted average common shares
outstanding during 2008 is lower than it would have been had the
shares been outstanding for a full year. HOME BANCORP, INC. AND
SUBSIDIARY SUMMARY FINANCIAL INFORMATION For The Three Months Ended
December 31, % 2009 2008 Change ---- ---- ------ (dollars in
thousands except per share data) EARNINGS DATA Total interest
income $6,990 $7,331 (5) Total interest expense 1,478 1,736 (15)
----- ----- Net interest income 5,512 5,595 (2) ----- -----
Provision for loan losses 156 298 (48) Total noninterest income
(813) (2,013) 60 Total noninterest expense 4,490 4,722 (5) Income
tax expense (benefit) 31 (639) 105 --- ---- Net income (loss) $22
$(799) 103 === ===== Earnings (loss) per share - diluted $- $(0.10)
- === ====== AVERAGE BALANCE SHEET DATA Total assets $530,914
$502,886 6 % Total interest-earning assets 496,500 482,702 3 Loans
340,937 329,145 4 Interest-bearing deposits 309,012 284,154 9
Interest-bearing liabilities 327,872 308,045 6 Total deposits
375,236 367,935 2 Total shareholders' equity 132,495 106,814 24
SELECTED RATIOS (1) Return on average assets 0.02 % (0.64) % 103 %
Return on average total equity 0.07 (2.99) 102 Efficiency ratio (2)
95.56 131.84 (28) Average shareholders' equity to average assets
24.96 21.24 18 Core capital ratio (3) (4) 20.24 19.10 6 Net
interest margin (5) 4.40 4.61 (5) December 31, December 31, % 2009
2008 Change ---- ---- ------ ASSET QUALITY (3) (6) Nonaccrual loans
$1,279 $1,427 (10) % Accruing loans past due 90 days and over - - -
--- --- Total nonperforming loans 1,279 1,427 (10) Other real
estate owned 417 37 1,027 --- --- Total nonperforming assets $1,696
$1,464 16 ====== ====== Nonperforming assets to total assets 0.32 %
0.28 % 14 % Nonperforming loans to total assets 0.24 0.27 (11)
Nonperforming loans to total loans 0.38 0.43 (12) Allowance for
loan losses to nonperforming assets 197.7 178.0 11 Allowance for
loan losses to nonperforming loans 262.2 182.6 44 Allowance for
loan losses to total loans 1.00 0.78 28 Year-to-date loan
charge-offs $141 $212 (33) % Year-to-date loan recoveries 22 45
(51) --- --- Year-to-date net loan charge- offs 119 167 (29) ===
=== Annualized YTD net loan charge- offs to total loans 0.04 % 0.05
% (20) % For The Three Months Ended % September 30, 2009 Change
-------------- ------ (dollars in thousands except per share data)
EARNINGS DATA Total interest income $7,636 (8) % Total interest
expense 1,558 (5) ----- Net interest income 6,078 (9) -----
Provision for loan losses 287 (46) Total noninterest income 949
(186) Total noninterest expense 4,669 (4) Income tax expense
(benefit) 574 (95) --- Net income (loss) $1,497 (99) ======
Earnings (loss) per share - diluted $0.17 - ===== AVERAGE BALANCE
SHEET DATA Total assets $529,462 - % Total interest-earning assets
499,469 (1) Loans 343,618 (1) Interest-bearing deposits 307,660 -
Interest-bearing liabilities 328,469 - Total deposits 373,430 -
Total shareholders' equity 131,643 1 SELECTED RATIOS (1) Return on
average assets 1.13 % (98) % Return on average total equity 4.55
(98) Efficiency ratio (2) 66.43 44 Average shareholders' equity to
average assets 24.86 - Core capital ratio (3) (4) 19.86 2 Net
interest margin (5) 4.83 (9) September 30, % 2009 Change ----
------ ASSET QUALITY (3) (6) Nonaccrual loans $2,716 (53) %
Accruing loans past due 90 days and over - - --- Total
nonperforming loans 2,716 (53) Other real estate owned - - ---
Total nonperforming assets $2,716 (38) ====== Nonperforming assets
to total assets 0.51 % (37) % Nonperforming loans to total assets
0.51 (53) Nonperforming loans to total loans 0.80 (53) Allowance
for loan losses to nonperforming assets 120.5 64 Allowance for loan
losses to nonperforming loans 120.5 118 Allowance for loan losses
to total loans 0.96 4 Year-to-date loan charge-offs $58 143 %
Year-to-date loan recoveries 15 47 --- Year-to-date net loan
charge-offs 43 177 === Annualized YTD net loan charge-offs to total
loans 0.02 % 100 % (1) With the exception of end-of-period ratios,
all ratios are based on average monthly 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) Asset
quality and capital ratios are end of period ratios. (4) Capital
ratios are for Home Bank only. (5) Net interest margin represents
net interest income as a percentage of average interest-earning
assets. (6) Nonperforming loans consist of nonaccruing loans and
loans 90 days or more past due. Nonperforming assets consist of
nonperforming loans and repossessed assets. It is our policy to
cease accruing interest on all loans 90 days or more past due.
Repossessed assets consist of assets acquired through foreclosure
or acceptance of title in-lieu of foreclosure. DATASOURCE: Home
Bancorp, Inc. CONTACT: John W. Bordelon, President and CEO of Home
Bancorp, Inc., +1-337-237-1960 Web Site: http://www.home24bank.com/
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