LAFAYETTE, La., Oct. 29, 2013 /PRNewswire/ -- Home Bancorp, Inc.
(Nasdaq: "HBCP") (the "Company"), the parent company for Home
Bank (www.home24bank.com), a Federally chartered savings bank
headquartered in Lafayette,
Louisiana (the "Bank"), announced net income of $2.5 million for the third quarter of 2013, an
increase of $1.2 million, or 100%,
compared to the second quarter of 2013 and a decrease of
$570,000, or 19%, compared to the
third quarter of 2012. Diluted earnings per share were
$0.37 for the third quarter of 2013,
an increase of $0.19, or 106%,
compared to the second quarter of 2013 and a decrease of
$0.05, or 12%, compared to the third
quarter of 2012.
(Logo:
http://photos.prnewswire.com/prnh/20130429/MM04092LOGO)
"The performance of the South
Louisiana economy continues to outpace much of the nation,"
stated John W. Bordelon, President
and Chief Executive Officer of the Company and the Bank. "Such a
robust economy played a key role in our strongest quarterly results
of the year."
"Our focus is on adding quality bankers and customers to our
franchise," added Mr. Bordelon, "and continuing our disciplined
growth."
Loans and Credit Quality
Loans totaled $680.9 million at
September 30, 2013, an increase of
$5.0 million, or 1%, from
June 30, 2013, and an increase of
$10.2 million, or 2%, from
September 30, 2012. During the
third quarter, increases in home equity loans and lines (up
$3.0 million), commercial real estate
loans (up $2.9 million) and consumer
loans (up $2.4 million) were
partially offset by decreases in one- to four-family mortgage loans
(down $3.1 million) and commercial
and industrial loans (down $1.1
million).
The following table sets forth the composition of the Company's
loan portfolio (including Covered Loans) as of the dates
indicated.
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
December
31,
|
|
Increase/(Decrease)
|
|
(dollars in
thousands)
|
|
2013
|
|
2012
|
|
Amount
|
|
Percent
|
|
Real estate
loans:
|
|
|
|
|
|
|
|
|
|
One- to four-family first
mortgage
|
$
|
178,142
|
$
|
177,816
|
$
|
326
|
|
-
|
%
|
Home equity loans and
lines
|
|
40,922
|
|
40,425
|
|
497
|
|
1
|
|
Commercial real
estate
|
|
253,648
|
|
252,805
|
|
843
|
|
-
|
|
Construction and
land
|
|
72,201
|
|
75,529
|
|
(3,328)
|
|
(4)
|
|
Multi-family
residential
|
|
16,864
|
|
19,659
|
|
(2,795)
|
|
(14)
|
|
Total real
estate loans
|
|
561,777
|
|
566,234
|
|
(4,457)
|
|
(1)
|
|
Other
loans:
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
80,278
|
|
72,253
|
|
8,025
|
|
11
|
|
Consumer
|
|
38,819
|
|
34,641
|
|
4,178
|
|
12
|
|
Total
other loans
|
|
119,097
|
|
106,894
|
|
12,203
|
|
11
|
|
Total
loans
|
$
|
680,874
|
$
|
673,128
|
$
|
7,746
|
|
1
|
%
|
Nonperforming assets ("NPAs"), which include $8.9 million in assets covered under loss sharing
agreements with the FDIC ("Covered Assets") and $12.8 million in assets acquired from GS
Financial Corp. ("GSFC"), totaled $27.4
million at September 30, 2013,
a decrease of $90,000 compared to
June 30, 2013 and a decrease of
$2.7 million compared to September 30, 2012. The ratio of total NPAs
to total assets was 2.85% at September 30,
2013, compared to 2.83% at June 30,
2013 and 3.10% at September
30, 2012. Excluding acquired assets, the ratio of NPAs
to total assets was 0.69% at September 30,
2013, compared to 0.68% at June 30,
2013 and 0.86% at September
30, 2012.
The Company recorded net loan charge-offs of $84,000 during the third quarter of 2013,
compared to net loan charge-offs of $1.8
million in the second quarter of 2013 and $464,000 in the third quarter of 2012. The
Company's provision for loan losses for the third quarter of 2013
was $453,000, compared to
$2.2 million for the second quarter
of 2013 and $56,000 for the third
quarter of 2012.
The ratio of allowance for loan losses to total loans was 0.95%
at September 30, 2013,
compared to 0.90% and 0.73% at June 30,
2013 and September 30, 2012,
respectively. Excluding acquired loans, the ratio of the
allowance for loan losses to total loans was 1.09% at September 30, 2013, compared to 1.08% and
1.01% at June 30, 2013 and
September 30, 2012,
respectively.
Investment Securities Portfolio
The Company's investment securities portfolio totaled
$160.4 million at September 30, 2013, an increase of $4.5 million, or 3%, from June 30, 2013, and an increase of $5.4 million, or 4%, from September 30, 2012. At September 30, 2013, the Company had a net
unrealized gain position on its investment securities portfolio of
$1.1 million, compared to net
unrealized gains of $1.4 million and
$5.2 million at June 30, 2013 and September 30, 2012, respectively. The decrease in
the unrealized gain primarily reflects increasing market interest
rates. The investment securities portfolio had a modified
duration of 4.7 years at September 30,
2013, compared to 4.2 and 3.7 years at June 30, 2013 and September 30, 2012, respectively.
Deposits
During the third quarter of 2013, core deposits (i.e., checking,
savings and money market accounts) increased $2.6 million, or 1%, from June 30, 2013, and increased $35.3 million, or 7%, from September 30, 2012. The increases in core
deposits were offset by declines in certificate of deposits
("CDs"), as higher-priced CDs matured. Total deposits were
$765.8 million at September 30, 2013, a decrease of $11.4 million, or 2%, from June 30, 2013, and a decrease of $19.1 million, or 2%, from September 30,
2012.
The following table sets forth the composition of the Company's
deposits at the dates indicated.
|
|
|
|
|
|
|
|
|
September
30,
|
|
December
31,
|
|
Increase /
(Decrease)
|
|
(dollars in
thousands)
|
|
2013
|
|
2012
|
|
Amount
|
Percent
|
|
Demand
deposit
|
$
|
171,915
|
$
|
152,462
|
$
|
19,453
|
13
|
%
|
Savings
|
|
54,709
|
|
51,515
|
|
3,194
|
6
|
|
Money
market
|
|
203,218
|
|
191,191
|
|
12,027
|
6
|
|
NOW
|
|
126,595
|
|
123,294
|
|
3,301
|
3
|
|
Certificates of
deposit
|
|
209,373
|
|
252,967
|
|
(43,594)
|
(17)
|
|
Total
deposits
|
$
|
765,810
|
$
|
771,429
|
$
|
(5,619)
|
(1)
|
%
|
|
|
|
|
|
|
|
|
|
Share Repurchases
Under the Company's June 2013
stock repurchase program, the Company may purchase up to 370,000
shares, or approximately 5%, of the Company's outstanding common
stock. The Company purchased 44,177 shares of its common
stock during the third quarter of 2013 at an average price per
share of $18.47. As of
October 23, 2013, an additional
168,123 shares remain eligible for purchase under the plan.
The tangible book value per share of the Company's common stock was
$19.47 at September 30,
2013.
Net Interest Income
Net interest income for the third quarter of 2013 totaled
$10.4 million, an increase of
$473,000, or 5%, compared to the
second quarter of 2013, and a decrease of $513,000, or 5%, compared to the third quarter of
2012. The Company's net interest margin was 4.79% for the
third quarter of 2013, 20 basis points higher than the second
quarter of 2013 and 17 basis points lower than the third quarter of
2012. The increase in the net interest margin for the third
quarter of 2013 related primarily to an increase in the yield
earned on loans covered under loss sharing agreements with the FDIC
("Covered Loans"). As a result of improved cash flow
expectations related to Covered Loans, the Company adjusted the
accretable yield recognized on Covered Loans during the
quarter. The Covered Loan portfolio yielded 15.60% during the
third quarter of 2013, compared to 10.18% and 8.16% during the
second quarter of 2013 and third quarter of 2012,
respectively. Excluding Covered Loans, the yield on loans
receivable would have been 5.72% during the third quarter of 2013,
compared to 5.63% and 6.44% during the second quarter of 2013 and
third quarter of 2012, respectively.
The following table sets forth the Company's average volume and
rate of its interest-earning assets and interest-bearing
liabilities for the periods indicated. Taxable equivalent
("TE") yields on investment securities are calculated using a
marginal tax rate of 35%.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three
Months Ended
|
|
|
|
September 30,
2013
|
|
|
June 30,
2013
|
|
|
September 30,
2012
|
|
|
(dollars in
thousands)
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
receivable
|
$
|
676,639
|
6.07
|
%
|
$
|
683,374
|
5.86
|
%
|
$
|
678,936
|
6.56
|
%
|
|
Investment securities
(TE)
|
|
157,352
|
2.10
|
|
|
154,523
|
2.11
|
|
|
149,472
|
2.18
|
|
|
Other
interest-earning assets
|
|
27,293
|
0.47
|
|
|
28,153
|
0.46
|
|
|
41,373
|
0.40
|
|
|
Total
interest-earning assets
|
$
|
861,284
|
5.17
|
|
$
|
866,050
|
5.01
|
|
$
|
869,781
|
5.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings, checking,
and money market
|
$
|
389,773
|
0.24
|
|
$
|
372,613
|
0.26
|
|
$
|
355,107
|
0.34
|
|
|
Certificates of
deposit
|
|
215,745
|
0.90
|
|
|
231,824
|
0.97
|
|
|
269,840
|
1.08
|
|
|
Total
interest-bearing deposits
|
|
605,518
|
0.48
|
|
|
604,437
|
0.53
|
|
|
624,947
|
0.66
|
|
|
FHLB
advances
|
|
41,083
|
0.90
|
|
|
50,734
|
0.96
|
|
|
48,175
|
1.39
|
|
|
Total
interest-bearing liabilities
|
$
|
646,601
|
0.51
|
|
$
|
655,171
|
0.56
|
|
$
|
673,122
|
0.71
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest spread
(TE)
|
|
|
4.66
|
%
|
|
|
4.45
|
%
|
|
|
4.81
|
%
|
|
Net interest margin
(TE)
|
|
|
4.79
|
%
|
|
|
4.59
|
%
|
|
|
4.96
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
Noninterest income for the third quarter of 2013 totaled
$1.7 million, a decrease of
$531,000, or 24%, compared to the
second quarter of 2013 and a decrease of $421,000, or 20%, compared to the third quarter
of 2012. The decrease in noninterest income in the third
quarter of 2013 compared to the second quarter of 2013 resulted
primarily from the absence of gains on the sale of securities (down
$428,000) and a decrease in gains on
the sale of mortgage loans (down $112,000).
The decrease in noninterest income in the third quarter of 2013
compared to the third quarter of 2012 resulted primarily from lower
gains on the sale of mortgage loans (down $337,000) and the absence of gains on the sale of
securities (down $163,000).
Noninterest Expense
Noninterest expense for the third quarter of 2013 totaled
$7.9 million, a decrease of
$124,000, or 2%, compared to the
second quarter of 2013 and a decrease of $499,000, or 6%, compared to the third quarter of
2012. The decrease in noninterest expense in the third
quarter of 2013 compared to the second quarter of 2013 resulted
primarily from lower other expenses (down $314,000 primarily due to the absence of
$169,000 in penalties incurred in
prepaying long-term FHLB borrowings and lower other loan fee
expenses of $134,000), data
processing and communication expenses (down $52,000), forms, printing and supplies expenses
(down $49,000) and marketing and
advertising expenses (down $20,000),
which were partially offset by higher compensation and benefits
expenses (up $137,000) and foreclosed
assets expenses (up $123,000).
The decrease in noninterest expense in the third quarter of 2013
compared to the third quarter of 2012 resulted primarily from lower
foreclosed asset expenses (down $157,000), other expenses (down $155,000), data processing and communication
expenses (down $120,000) and
marketing and advertising expenses (down $50,000).
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 loans acquired from the FDIC and GSFC. Management believes
the presentation of this non-GAAP financial information provides
useful information that is essential to a proper understanding of
the Company's financial position and core operating results. This
non-GAAP financial information should not be viewed as a substitute
for financial information determined in accordance with GAAP, nor
are they necessarily comparable to non-GAAP financial information
presented by other companies.
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,
2012, 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. 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
September
30,
|
|
%
|
|
|
June 30,
|
|
December
31,
|
|
2013
|
|
2012
|
|
Change
|
|
|
2013
|
|
2012
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$
35,953,034
|
|
$
52,307,703
|
|
(31)
|
%
|
|
$
51,957,884
|
|
$
39,539,366
|
Interest-bearing
deposits in banks
|
3,185,000
|
|
4,019,000
|
|
(21)
|
|
|
3,284,000
|
|
3,529,000
|
Investment securities
available for sale, at fair value
|
151,453,721
|
|
153,006,535
|
|
(1)
|
|
|
150,387,103
|
|
157,255,828
|
Investment securities
held to maturity
|
8,965,112
|
|
2,049,718
|
|
337
|
|
|
5,505,716
|
|
1,665,184
|
Mortgage loans held
for sale
|
1,711,585
|
|
5,572,587
|
|
(69)
|
|
|
4,229,298
|
|
5,627,104
|
Loans covered by loss
sharing agreements
|
23,723,936
|
|
49,500,917
|
|
(52)
|
|
|
27,350,973
|
|
45,764,397
|
Noncovered loans, net
of unearned income
|
657,150,445
|
|
621,157,286
|
|
6
|
|
|
648,568,074
|
|
627,363,937
|
Total loans
|
680,874,381
|
|
670,658,203
|
|
2
|
|
|
675,919,047
|
|
673,128,334
|
Allowance for loan
losses
|
(6,462,841)
|
|
(4,906,292)
|
|
32
|
|
|
(6,093,556)
|
|
(5,319,235)
|
Total loans, net of
allowance for loan losses
|
674,411,540
|
|
665,751,911
|
|
1
|
|
|
669,825,491
|
|
667,809,099
|
FDIC loss sharing
receivable
|
13,576,606
|
|
16,813,909
|
|
(19)
|
|
|
15,065,655
|
|
15,545,893
|
Office properties and
equipment, net
|
30,312,996
|
|
30,910,746
|
|
(2)
|
|
|
30,473,517
|
|
30,777,184
|
Cash surrender value
of bank-owned life insurance
|
17,638,008
|
|
17,157,946
|
|
3
|
|
|
17,523,536
|
|
17,286,434
|
Accrued interest
receivable and other assets
|
24,688,760
|
|
26,720,243
|
|
(8)
|
|
|
23,511,646
|
|
23,891,172
|
Total
Assets
|
$
961,896,362
|
|
$
974,310,298
|
|
(1)
|
|
|
$
971,763,846
|
|
$
962,926,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
$
765,810,312
|
|
$
784,941,867
|
|
(2)
|
%
|
|
$
777,236,290
|
|
$
771,429,335
|
Federal Home Loan
Bank advances
|
50,900,000
|
|
43,440,343
|
|
17
|
|
|
52,500,000
|
|
46,256,805
|
Accrued interest
payable and other liabilities
|
4,965,371
|
|
5,717,129
|
|
(13)
|
|
|
3,868,422
|
|
3,666,264
|
Total
Liabilities
|
821,675,683
|
|
834,099,339
|
|
(1)
|
|
|
833,604,712
|
|
821,352,404
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
|
Common
stock
|
89,579
|
|
89,483
|
|
-
|
%
|
|
89,563
|
|
89,506
|
Additional paid-in
capital
|
91,743,191
|
|
90,513,760
|
|
1
|
|
|
91,309,237
|
|
90,986,820
|
Treasury
stock
|
(28,003,896)
|
|
(20,365,995)
|
|
38
|
|
|
(27,187,845)
|
|
(21,719,954)
|
Common stock acquired
by benefit plans
|
(6,376,957)
|
|
(7,544,939)
|
|
(15)
|
|
|
(6,487,467)
|
|
(7,455,669)
|
Retained
earnings
|
82,023,494
|
|
74,110,812
|
|
11
|
|
|
79,540,747
|
|
76,435,222
|
Accumulated other
comprehensive income
|
745,268
|
|
3,407,838
|
|
(78)
|
|
|
894,899
|
|
3,237,935
|
Total
Shareholders' Equity
|
140,220,679
|
|
140,210,959
|
|
-
|
|
|
138,159,134
|
|
141,573,860
|
Total Liabilities
and Shareholders' Equity
|
$
961,896,362
|
|
$
974,310,298
|
|
(1)
|
|
|
$
971,763,846
|
|
$
962,926,264
|
HOME BANCORP, INC.
AND SUBSIDIARY
|
CONDENSED
STATEMENTS OF INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
|
|
|
For TheNine
Months Ended
|
|
|
|
|
September
30,
|
%
|
|
|
September
30,
|
%
|
|
|
2013
|
2012
|
|
Change
|
|
|
2013
|
2012
|
|
Change
|
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
fees
|
$
10,438,505
|
$
11,309,112
|
|
(8)
|
%
|
|
$
30,578,885
|
$
32,063,514
|
|
(5)
|
%
|
Investment
securities
|
754,902
|
769,202
|
|
(2)
|
|
|
2,278,112
|
2,440,833
|
|
(7)
|
|
Other investments and
deposits
|
32,471
|
41,404
|
|
(22)
|
|
|
96,077
|
110,870
|
|
(13)
|
|
Total
interest income
|
11,225,878
|
12,119,718
|
|
(7)
|
|
|
32,953,074
|
34,615,217
|
|
(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
729,941
|
1,036,707
|
|
(30)
|
%
|
|
2,410,621
|
3,253,133
|
|
(26)
|
%
|
Federal Home Loan
Bank advances
|
92,610
|
166,984
|
|
(45)
|
|
|
358,806
|
525,587
|
|
(32)
|
|
Total
interest expense
|
822,551
|
1,203,691
|
|
(32)
|
|
|
2,769,427
|
3,778,720
|
|
(27)
|
|
Net interest
income
|
10,403,327
|
10,916,027
|
|
(5)
|
|
|
30,183,647
|
30,836,497
|
|
(2)
|
|
Provision for loan
losses
|
453,133
|
55,736
|
|
713
|
|
|
3,221,326
|
1,927,962
|
|
67
|
|
Net interest income
after provision for loan losses
|
9,950,194
|
10,860,291
|
|
(8)
|
|
|
26,962,321
|
28,908,535
|
|
(7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
Income
|
|
|
|
|
|
|
|
|
|
|
|
Service fees and
charges
|
627,607
|
535,016
|
|
17
|
%
|
|
1,753,547
|
1,688,874
|
|
4
|
%
|
Bank card
fees
|
445,784
|
443,986
|
|
-
|
|
|
1,314,299
|
1,396,678
|
|
(6)
|
|
Gain on sale of
loans, net
|
314,626
|
651,457
|
|
(52)
|
|
|
1,289,487
|
1,395,561
|
|
(8)
|
|
Income from
bank-owned life insurance
|
114,473
|
124,566
|
|
(8)
|
|
|
351,575
|
386,772
|
|
(9)
|
|
Gain on the sale of
securities, net
|
-
|
162,534
|
|
-
|
|
|
428,200
|
221,781
|
|
93
|
|
Discount accretion of
FDIC loss sharing receivable
|
111,066
|
108,762
|
|
2
|
|
|
334,913
|
461,893
|
|
(27)
|
|
Other
income
|
52,215
|
60,537
|
|
(14)
|
|
|
170,351
|
134,870
|
|
26
|
|
Total noninterest income
|
1,665,771
|
2,086,858
|
|
(20)
|
|
|
5,642,372
|
5,686,429
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and
benefits
|
5,017,628
|
5,046,836
|
|
(1)
|
%
|
|
14,993,975
|
14,569,194
|
|
3
|
%
|
Occupancy
|
779,908
|
722,320
|
|
8
|
|
|
2,248,632
|
2,119,265
|
|
6
|
|
Marketing and
advertising
|
152,270
|
202,400
|
|
(25)
|
|
|
563,793
|
538,764
|
|
5
|
|
Data processing and
communication
|
574,364
|
694,440
|
|
(17)
|
|
|
1,842,036
|
2,033,779
|
|
(9)
|
|
Professional
fees
|
217,657
|
213,294
|
|
2
|
|
|
623,909
|
701,030
|
|
(11)
|
|
Forms, printing and
supplies
|
86,965
|
111,203
|
|
(22)
|
|
|
329,762
|
377,918
|
|
(13)
|
|
Franchise and shares
tax
|
272,960
|
305,889
|
|
(11)
|
|
|
819,540
|
657,191
|
|
25
|
|
Regulatory
fees
|
225,175
|
218,193
|
|
3
|
|
|
668,059
|
629,368
|
|
6
|
|
Foreclosed assets,
net
|
90,982
|
248,089
|
|
(63)
|
|
|
236,740
|
758,813
|
|
(69)
|
|
Other
expenses
|
471,670
|
626,409
|
|
(25)
|
|
|
1,873,530
|
1,855,486
|
|
1
|
|
Total
noninterest expense
|
7,889,579
|
8,389,073
|
|
(6)
|
|
|
24,199,976
|
24,240,808
|
|
-
|
|
Income before income
tax expense
|
3,726,386
|
4,558,076
|
|
(18)
|
|
|
8,404,717
|
10,354,156
|
|
(19)
|
|
Income tax
expense
|
1,243,639
|
1,505,746
|
|
(17)
|
|
|
2,816,445
|
3,488,694
|
|
(19)
|
|
Net income
|
$
2,482,747
|
$
3,052,330
|
|
(19)
|
|
|
$
5,588,272
|
$
6,865,462
|
|
(19)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share -
basic
|
$
0.38
|
$
0.44
|
|
(14)
|
%
|
|
$
0.84
|
$
0.99
|
|
(15)
|
%
|
Earnings per share -
diluted
|
$
0.37
|
$
0.42
|
|
(12)
|
|
|
$
0.80
|
$
0.95
|
|
(16)
|
|
HOME BANCORP, INC.
AND SUBSIDIARY
|
SUMMARY FINANCIAL
INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
|
|
|
For The
Three
|
|
|
|
|
|
September
30,
|
|
%
|
|
|
Months
Ended
|
|
|
%
|
|
|
2013
|
|
2012
|
|
Change
|
|
|
June 30,
2013
|
|
|
Change
|
|
(dollars in
thousands except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest
income
|
$
11,226
|
|
$12,120
|
|
(7)
|
%
|
|
$
10,852
|
|
|
3
|
%
|
Total interest
expense
|
823
|
|
1,204
|
|
(32)
|
|
|
922
|
|
|
(11)
|
|
Net interest
income
|
10,403
|
|
10,916
|
|
(5)
|
|
|
9,930
|
|
|
5
|
|
Provision for loan
losses
|
453
|
|
56
|
|
709
|
|
|
2,248
|
|
|
(80)
|
|
Total noninterest
income
|
1,666
|
|
2,087
|
|
(20)
|
|
|
2,196
|
|
|
(24)
|
|
Total noninterest
expense
|
7,889
|
|
8,389
|
|
(6)
|
|
|
8,014
|
|
|
(2)
|
|
Income tax
expense
|
1,244
|
|
1,506
|
|
(17)
|
|
|
621
|
|
|
100
|
|
Net income
|
$
2,483
|
|
$
3,052
|
|
(19)
|
|
|
$
1,243
|
|
|
100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCE
SHEET DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
958,560
|
|
$974,761
|
|
(2)
|
%
|
|
$
967,679
|
|
|
(1)
|
%
|
Total
interest-earning assets
|
861,284
|
|
869,781
|
|
(1)
|
|
|
866,050
|
|
|
(1)
|
|
Total
loans
|
676,639
|
|
678,936
|
|
-
|
|
|
683,374
|
|
|
(1)
|
|
Total
interest-bearing deposits
|
605,518
|
|
624,947
|
|
(3)
|
|
|
604,437
|
|
|
-
|
|
Total
interest-bearing liabilities
|
646,601
|
|
673,122
|
|
(4)
|
|
|
655,171
|
|
|
(1)
|
|
Total
deposits
|
776,556
|
|
783,542
|
|
(1)
|
|
|
771,868
|
|
|
1
|
|
Total shareholders'
equity
|
139,060
|
|
140,548
|
|
(1)
|
|
|
143,705
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.04
|
%
|
1.25
|
%
|
(17)
|
%
|
|
0.51
|
%
|
|
104
|
%
|
Return on average
equity
|
7.14
|
|
8.69
|
|
(18)
|
|
|
3.46
|
|
|
106
|
|
Efficiency ratio
(2)
|
65.37
|
|
64.52
|
|
1
|
|
|
66.37
|
|
|
(2)
|
|
Average equity to
average assets
|
14.51
|
|
14.42
|
|
1
|
|
|
14.85
|
|
|
(2)
|
|
Tier 1 leverage
capital ratio(3)
|
14.29
|
|
13.23
|
|
8
|
|
|
13.85
|
|
|
3
|
|
Total risk-based
capital ratio(3)
|
22.33
|
|
21.39
|
|
4
|
|
|
22.14
|
|
|
1
|
|
Net interest margin
(4)
|
4.79
|
|
4.96
|
|
(3)
|
|
|
4.59
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per
share
|
$
0.38
|
|
$
0.44
|
|
(14)
|
%
|
|
$
0.19
|
|
|
100
|
%
|
Diluted earnings per
share
|
0.37
|
|
0.42
|
|
(12)
|
|
|
0.18
|
|
|
106
|
|
Book value at period
end
|
19.75
|
|
18.66
|
|
6
|
|
|
19.35
|
|
|
2
|
|
Tangible book value
at period end
|
19.47
|
|
18.35
|
|
6
|
|
|
19.06
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at
period end
|
7,099,164
|
|
7,512,360
|
|
(6)
|
%
|
|
7,141,691
|
|
|
(1)
|
%
|
Weighted average
shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
6,481,911
|
|
6,950,785
|
|
(7)
|
%
|
|
6,652,097
|
|
|
(3)
|
%
|
Diluted
|
6,768,578
|
|
7,212,323
|
|
(6)
|
|
|
6,963,570
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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)
|
Capital ratios are
end of period ratios for the Bank only.
|
(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 35%.
|
HOME BANCORP, INC.
AND SUBSIDIARY
|
SUMMARY CREDIT
QUALITY INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2013
|
|
June 30,
2013
|
|
September 30,
2012
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
(dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT
QUALITY(1) (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$ 5,807
|
|
$ 15,784
|
|
$ 21,591
|
|
|
$
6,949
|
|
$ 16,938
|
|
$ 23,887
|
|
|
$9,106
|
|
$12,608
|
|
$ 21,714
|
|
Accruing loans past
due 90 days and over
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
Total nonperforming
loans
|
5,807
|
|
15,784
|
|
21,591
|
|
|
6,949
|
|
16,938
|
|
23,887
|
|
|
9,106
|
|
12,608
|
|
21,714
|
|
Other real estate
owned
|
3,064
|
|
2,786
|
|
5,850
|
|
|
2,755
|
|
888
|
|
3,643
|
|
|
3,143
|
|
5,300
|
|
8,443
|
|
Total nonperforming
assets
|
8,871
|
|
18,570
|
|
27,441
|
|
|
9,704
|
|
17,826
|
|
27,530
|
|
|
12,249
|
|
17,908
|
|
30,157
|
|
Performing troubled
debt restructurings
|
6
|
|
437
|
|
443
|
|
|
321
|
|
532
|
|
853
|
|
|
675
|
|
816
|
|
1,491
|
|
Total nonperforming assets and troubled debt
restructurings
|
$ 8,877
|
|
$ 19,007
|
|
$ 27,884
|
|
|
$ 10,025
|
|
$ 18,358
|
|
$ 28,383
|
|
|
$ 12,924
|
|
$ 18,724
|
|
$ 31,648
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets
to total assets
|
|
|
|
|
2.85
|
%
|
|
|
|
|
|
2.83
|
%
|
|
|
|
|
|
3.10
|
%
|
Nonperforming loans
to total assets
|
|
|
|
|
2.24
|
|
|
|
|
|
|
2.46
|
|
|
|
|
|
|
2.23
|
|
Nonperforming loans
to total loans
|
|
|
|
|
3.17
|
|
|
|
|
|
|
3.53
|
|
|
|
|
|
|
3.24
|
|
Allowance for loan
losses to nonperforming assets
|
|
|
|
|
23.55
|
|
|
|
|
|
|
22.13
|
|
|
|
|
|
|
16.27
|
|
Allowance for loan
losses to nonperforming loans
|
|
|
|
|
29.93
|
|
|
|
|
|
|
25.51
|
|
|
|
|
|
|
22.60
|
|
Allowance for loan
losses to total loans
|
|
|
|
|
0.95
|
|
|
|
|
|
|
0.90
|
|
|
|
|
|
|
0.73
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date loan
charge-offs
|
|
|
|
|
$
2,135
|
|
|
|
|
|
|
$
2,030
|
|
|
|
|
|
|
$2,151
|
|
Year-to-date loan
recoveries
|
|
|
|
|
58
|
|
|
|
|
|
|
37
|
|
|
|
|
|
|
25
|
|
Year-to-date net loan
charge-offs
|
|
|
|
|
$
2,077
|
|
|
|
|
|
|
$
1,993
|
|
|
|
|
|
|
$
2,126
|
|
Annualized YTD net
loan charge-offs to total loans
|
|
|
|
|
0.41
|
%
|
|
|
|
|
|
0.39
|
%
|
|
|
|
|
|
0.42
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Nonperforming loans
consist of nonaccruing loans and accruing 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 loans 90 days or more past due. Repossessed assets
consist of assets acquired through foreclosure or acceptance of
title in-lieu of foreclosure.
|
(2)
|
Asset quality
information includes assets covered under FDIC loss sharing
agreements. Such assets covered by FDIC loss sharing agreements are
referred to as "Covered" assets. All other assets are referred to
as "Noncovered".
|
SOURCE Home Bancorp, Inc.