LAFAYETTE, La., July 24,2012 /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 $1.8 million for the second quarter of 2012, a
decrease of $308,000, or 15%,
compared to the first quarter of 2012 and an increase of
$485,000, or 38%, compared to the
second quarter of 2011. Diluted earnings per share were
$0.24 for the second quarter of 2012,
a decrease of $0.05, or 17%, compared
to the first quarter of 2012 and an increase of $0.07, or 41%, compared to the second quarter of
2011.
The Company also announced its Board of Directors approved a new
program to repurchase up to 383,598 shares, or approximately 5%, of
the Company's outstanding common stock. Repurchases may be made by
the Company in open-market or privately-negotiated transactions as,
in the opinion of management, market conditions warrant. The
Company completed a previously announced repurchase program (the
"May 2011" program) earlier this month.
The Company's common stock was added to the Russell 3000 Index
in June 2012. The index measures the
performance of the 3,000 largest companies in the United States based on market
capitalization.
"Louisiana businesses continue
to discover the value we add to their companies," stated
John W. Bordelon, President and
Chief Executive Officer of the Company and the Bank. "In addition
to making their banking more affordable, Home Bank is committed to
helping businesses and individuals effectively navigate the
financial landscape by providing sound advice, reliable solutions
and an unmatched level of service."
Loans and Credit Quality
The Company's loans totaled $679.8
million at June 30, 2012, an
increase of $1.1 million, or 0.2%,
from March 31, 2012, and an increase
of $230.2 million, or 51%, from
June 30, 2011. Second quarter 2012
loan growth related primarily to commercial real estate ("CRE")
loans, which were up $30.4 million.
The majority of CRE loan growth during the quarter resulted from
the completion of construction projects financed by the Company.
Conversely, construction and land loans were down $20.1 million during the quarter. The increase in
loans compared to June 30, 2011
relates primarily to the $182.4
million in loans added as a result of the acquisition of GS
Financial Corp. ("GSFC") in July
2011.
The following table sets forth the composition of the Company's
loan portfolio as of the dates indicated.
|
|
|
|
|
|
|
|
|
June
30,
|
|
December 31,
|
|
Increase/(Decrease)
|
|
(dollars in thousands)
|
|
2012
|
|
2011
|
|
Amount
|
Percent
|
|
Real
estate loans:
|
|
|
|
|
|
|
|
|
One- to four-family first
mortgage
|
$
|
173,227
|
$
|
182,817
|
$
|
(9,590)
|
(5)
|
%
|
Home equity loans and
lines
|
|
41,535
|
|
43,665
|
|
(2,130)
|
(5)
|
|
Commercial real estate
|
|
268,445
|
|
226,999
|
|
41,446
|
18
|
|
Construction and land
|
|
66,042
|
|
78,994
|
|
(12,952)
|
(16)
|
|
Multi-family
residential
|
|
20,141
|
|
20,125
|
|
16
|
-
|
|
Total real
estate loans
|
|
569,390
|
|
552,600
|
|
16,790
|
3
|
|
Other
loans:
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
77,951
|
|
82,980
|
|
(5,029)
|
(6)
|
|
Consumer
|
|
32,431
|
|
30,791
|
|
1,640
|
5
|
|
Total
other loans
|
|
110,382
|
|
113,771
|
|
(3,389)
|
(3)
|
|
Total
loans
|
$
|
679,772
|
$
|
666,371
|
$
|
13,401
|
2
|
%
|
Nonperforming assets ("NPAs"), which includes $12.8 million in assets covered under loss
sharing agreements with the FDIC ("Covered Assets") and
$10.3 million acquired from GSFC,
totaled $30.3 million at June 30, 2012, a decrease of $3.8 million compared to March 31, 2012 and an increase of $10.2 million compared to June 30, 2011. The ratio of total NPAs to total
assets was 3.06% at June 30, 2012,
compared to 3.48% at March 31, 2012
and 2.80% at June 30, 2011. Excluding
acquired assets, the ratio of NPAs was 0.90% at June 30, 2012, compared to 1.16% at March 31, 2012 and 0.19% at June 30, 2011.
The Company recorded net loan charge-offs of $1.7 million during the second quarter of 2012,
compared to net loan charge-offs of $3,000 and $227,000
in the first quarter of 2012 and second quarter of 2011,
respectively. The increase in net charge-offs for the second
quarter of 2012 resulted primarily from a $1.4 million partial charge-off on a $5.4 million CRE loan which was downgraded
further during the quarter.
The Company's provision for loan losses for the second quarter
of 2012 was $1.2 million, compared to
$712,000 for the first quarter of
2012 and $265,000 for the second
quarter of 2011. The elevated level of provision during the second
quarter of 2012 relates primarily to the same $5.4 million CRE loan mentioned above.
Excluding acquired loans, the ratio of allowance for loan losses
to total loans was 1.05% at June 30,
2012, compared to 1.22% at March 31,
2012 and 1.06% at June 30,
2011. Including acquired loans, the ratio of allowance for
loan losses to total loans was 0.78% at June
30, 2012, compared to 0.86% and 0.90% at March 31, 2012 and June
30, 2011, respectively.
Investment Securities Portfolio
The Company's investment securities portfolio totaled
$155.1 million at June 30, 2012, a decrease of $8.9 million, or 5%, from March 31, 2012, and an increase of $6.9 million, or 5%, from June 30, 2011. At June 30,
2012, the Company had a net unrealized gain position on its
investment securities portfolio of $4.1
million, compared to net unrealized gains of $4.0 million and $1.9
million at March 31, 2012 and
June 30, 2011, respectively. At
June 30, 2012, the investment
securities portfolio had a modified duration of 3.6 years.
During the second quarter of 2012, the Company sold securities
with an aggregate book value of $11.2
million and realized a gain of $59,000 on the transactions. The securities were
sold due to their low book yields and prepayment risk.
The Company maintains a portfolio of non-agency mortgage-backed
securities, which had an amortized cost of $13.7 million at June 30,
2012. Each of these securities is rated investment grade by
Standard & Poor's and/or Moody's.
Deposits
Core deposits (i.e., checking, savings and money market
accounts) increased for the twelfth consecutive quarter, growing
$44.5 million, or 10%, during the
second quarter of 2012. Total deposits were $779.2 million at June 30,
2012, an increase of $43.1
million, or 6%, from March 31,
2012, and an increase of $251.8
million, or 48%, from June 30,
2011. The Company added $193.5
million in deposits through the acquisition of GSFC in
July 2011.
The following table sets forth the composition of the Company's
deposits at the dates indicated.
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
Increase / (Decrease)
|
|
(dollars in thousands)
|
|
2012
|
|
2011
|
|
Amount
|
Percent
|
|
Demand
deposit
|
$
|
151,770
|
$
|
127,828
|
$
|
23,942
|
19
|
%
|
Savings
|
|
47,018
|
|
43,671
|
|
3,347
|
8
|
|
Money
market
|
|
185,768
|
|
180,790
|
|
4,978
|
3
|
|
NOW
|
|
118,550
|
|
93,679
|
|
24,871
|
27
|
|
Certificates of deposit
|
|
276,128
|
|
284,766
|
|
(8,638)
|
(3)
|
|
Total
deposits
|
$
|
779,234
|
$
|
730,734
|
$
|
48,500
|
7
|
%
|
Share Repurchases
The Company completed the May 2011
share repurchase program earlier this month. Under the May 2011 program, the Company acquired 402,835
shares of the Company's common stock at an average price of
$15.15 per share.
On July 23, 2012, the Company's
Board of Directors approved a new program to repurchase up to
383,598 shares, or approximately 5%, of the Company's outstanding
common stock. Repurchases may be made by the Company in open-market
or privately-negotiated transactions as, in the opinion of
management, market conditions warrant.
Net Interest Income
Net interest income for the second quarter of 2012 totaled
$10.0 million, essentially unchanged
compared to the first quarter of 2012, and an increase of
$3.0 million, or 43%, compared to the
second quarter of 2011. The addition of GSFC's interest-earning
assets and interest-bearing liabilities accounted for the vast
majority of the increase compared to the same quarter last year.
The Company's net interest margin was 4.70% for the second quarter
of 2012, one basis point higher than the first quarter of 2012 and
14 basis points higher than the second quarter of 2011.
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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the
Three Months Ended
|
|
|
|
June
30, 2012
|
|
|
March
31, 2012
|
|
|
June
30, 2011
|
|
|
(dollars in thousands)
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Average
Balance
|
Average
Yield/Rate
|
|
|
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans receivable
|
$
|
674,244
|
6.19
|
%
|
$
|
672,713
|
6.20
|
%
|
$
|
445,947
|
6.53
|
%
|
|
Investment securities
|
|
152,916
|
2.12
|
|
|
155,476
|
2.21
|
|
|
145,624
|
2.25
|
|
|
Other interest-earning assets
|
|
26,504
|
0.53
|
|
|
25,160
|
0.55
|
|
|
21,371
|
0.65
|
|
|
Total interest-earning assets
|
|
853,664
|
5.29
|
|
|
853,349
|
5.31
|
|
|
612,942
|
5.31
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings, checking, and money market
|
|
329,371
|
0.39
|
|
|
316,004
|
0.45
|
|
|
241,960
|
0.50
|
|
|
Certificates of deposit
|
|
276,800
|
1.11
|
|
|
282,476
|
1.11
|
|
|
191,038
|
1.54
|
|
|
Total interest-bearing deposits
|
|
606,171
|
0.72
|
|
|
598,480
|
0.76
|
|
|
432,998
|
0.96
|
|
|
FHLB advances
|
|
73,488
|
0.97
|
|
|
101,473
|
0.71
|
|
|
41,010
|
1.12
|
|
|
Total interest-bearing liabilities
|
$
|
679,659
|
0.75
|
|
$
|
699,953
|
0.75
|
|
$
|
474,008
|
0.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest spread
|
|
|
4.54
|
%
|
|
|
4.56
|
%
|
|
|
4.34
|
%
|
|
Net
interest margin
|
|
|
4.70
|
%
|
|
|
4.69
|
%
|
|
|
4.56
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
Noninterest income for the second quarter of 2012 totaled
$1.9 million, an increase of
$200,000, or 12%, compared to the
first quarter of 2012 and a decrease of $202,000, or 10%, compared to the second quarter
of 2011. The increase in noninterest income in the second quarter
of 2012 compared to the first quarter of 2012 resulted primarily
from higher gains on the sale of mortgage loans of $92,000 and gains on the sale of securities of
$59,000.
The decrease in noninterest income in the second quarter of 2012
compared to the second quarter of 2011 resulted primarily from a
litigation settlement of $525,000
received in the second quarter of 2011. Excluding the litigation
settlement and securities gains, noninterest income increased 17%
compared to the same quarter last year due primarily to higher
gains on the sale of mortgage loans. Additionally, service fees and
charges and bank card fees increased compared to the same quarter
last year as a result of the accounts added through the acquisition
of GSFC and organic customer growth.
Noninterest Expense
Noninterest expense for the second quarter of 2012 totaled
$8.0 million, an increase of
$234,000, or 3%, compared to the
first quarter of 2012 and an increase of $1.2 million, or 18%, compared to the second
quarter of 2011. The increase in noninterest expense in the second
quarter of 2012 compared to the first quarter of 2012 resulted
primarily from an increase in compensation and benefits of
$131,000 and higher marketing and
advertising, professional services and other expenses.
The increase in noninterest expense in the second quarter of
2012 compared to the second quarter of 2011 was primarily due to
higher compensation and benefits, occupancy and data processing and
communication expenses resulting from the addition of GSFC's
offices and employees. Additionally, expenses related to foreclosed
assets increased during the second quarter of 2012 compared to the
same quarter a year ago due primarily due to resolution costs
related to NPAs acquired from GSFC.
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 acquired loans and nonrecurring noninterest income.
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,
2011, 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June
30
|
|
June
30
|
|
%
|
|
|
March
31,
|
December
31,
|
|
2012
|
|
2011
|
|
Change
|
|
|
2012
|
2011
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and
cash equivalents
|
$
51,211,525
|
|
$
21,588,068
|
|
137
|
%
|
|
$
33,800,736
|
$
31,272,508
|
Interest-bearing deposits in banks
|
4,509,000
|
|
8,273,000
|
|
(45)
|
|
|
4,754,000
|
5,583,000
|
Investment
securities available for sale, at fair value
|
152,718,411
|
|
140,969,334
|
|
8
|
|
|
161,000,461
|
155,259,978
|
Investment
securities held to maturity
|
2,422,574
|
|
7,253,356
|
|
(67)
|
|
|
3,064,866
|
3,461,717
|
Mortgage
loans held for sale
|
4,832,498
|
|
2,773,616
|
|
74
|
|
|
1,794,119
|
1,672,597
|
Loans
covered by loss sharing agreements
|
46,827,556
|
|
68,421,716
|
|
(32)
|
|
|
56,111,387
|
61,070,360
|
Noncovered
loans, net of unearned income
|
632,944,049
|
|
381,119,264
|
|
66
|
|
|
622,539,181
|
605,301,127
|
Total
loans
|
679,771,605
|
|
449,540,980
|
|
51
|
|
|
678,650,568
|
666,371,487
|
Allowance
for loan losses
|
(5,314,386)
|
|
(4,057,044)
|
|
31
|
|
|
(5,813,095)
|
(5,104,363)
|
Total
loans, net of allowance for loan losses
|
674,457,219
|
|
445,483,936
|
|
51
|
|
|
672,837,473
|
661,267,124
|
FDIC loss
sharing receivable
|
22,827,051
|
|
30,709,836
|
|
(26)
|
|
|
24,399,699
|
24,222,190
|
Office
properties and equipment, net
|
30,618,073
|
|
23,015,352
|
|
33
|
|
|
30,724,675
|
31,763,692
|
Cash
surrender value of bank-owned life insurance
|
17,033,380
|
|
16,485,001
|
|
3
|
|
|
16,902,453
|
16,771,174
|
Accrued
interest receivable and other assets
|
27,885,771
|
|
20,848,648
|
|
34
|
|
|
30,275,634
|
32,515,158
|
Total
Assets
|
$988,515,502
|
|
$717,400,147
|
|
38
|
|
|
$979,554,116
|
$963,789,138
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
$779,233,938
|
|
$527,402,695
|
|
48
|
%
|
|
$736,157,230
|
$730,733,755
|
Federal
Home Loan Bank advances
|
54,874,645
|
|
52,500,000
|
|
5
|
|
|
100,848,030
|
93,622,954
|
Accrued
interest payable and other liabilities
|
15,375,621
|
|
3,740,456
|
|
311
|
|
|
4,827,764
|
5,147,595
|
Total
Liabilities
|
849,484,204
|
|
583,643,151
|
|
46
|
|
|
841,833,024
|
829,504,304
|
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity
|
|
|
|
|
|
|
|
|
|
Common
stock
|
89,453
|
|
$
89,312
|
|
-
|
%
|
|
89,404
|
89,335
|
Additional
paid-in capital
|
90,069,141
|
|
88,922,459
|
|
1
|
|
|
90,230,748
|
89,741,406
|
Treasury
stock
|
(17,208,855)
|
|
(11,849,932)
|
|
45
|
|
|
(15,965,319)
|
(15,892,315)
|
Common
stock acquired by benefit plans
|
(7,666,096)
|
|
(8,813,501)
|
|
(13)
|
|
|
(8,531,519)
|
(8,625,513)
|
Retained
earnings
|
71,058,483
|
|
64,187,699
|
|
11
|
|
|
69,305,807
|
67,245,350
|
Accumulated other comprehensive income
|
2,689,172
|
|
1,220,959
|
|
120
|
|
|
2,591,971
|
1,726,571
|
Total
Shareholders' Equity
|
139,031,298
|
|
133,756,996
|
|
4
|
|
|
137,721,092
|
134,284,834
|
Total
Liabilities and Shareholders' Equity
|
$988,515,502
|
|
$717,400,147
|
|
38
|
|
|
$979,554,116
|
$963,789,138
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
CONDENSED STATEMENTS OF INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The
Three Months Ended
|
|
|
|
|
For The
Six Months Ended
|
|
|
|
|
June
30,
|
%
|
|
|
June
30,
|
%
|
|
|
2012
|
2011
|
|
Change
|
|
|
2012
|
2011
|
|
Change
|
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
|
Loans,
including fees
|
$
10,383,044
|
$
7,265,525
|
|
43
|
%
|
|
$
20,754,401
|
$
14,426,178
|
|
44
|
%
|
Investment
securities
|
812,148
|
817,359
|
|
(1)
|
|
|
1,671,631
|
1,778,180
|
|
(6)
|
|
Other
investments and deposits
|
35,068
|
34,542
|
|
2
|
|
|
69,466
|
71,263
|
|
(3)
|
|
Total
interest income
|
11,230,260
|
8,117,426
|
|
38
|
|
|
22,495,498
|
16,275,621
|
|
38
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
1,084,579
|
1,035,004
|
|
5
|
%
|
|
2,216,427
|
2,212,053
|
|
-
|
%
|
Federal
Home Loan Bank advances
|
177,766
|
115,087
|
|
54
|
|
|
358,602
|
215,726
|
|
66
|
|
Total
interest expense
|
1,262,345
|
1,150,091
|
|
10
|
|
|
2,575,029
|
2,427,779
|
|
6
|
|
Net
interest income
|
9,967,915
|
6,967,335
|
|
43
|
|
|
19,920,469
|
13,847,842
|
|
44
|
|
Provision
for loan losses
|
1,160,326
|
264,673
|
|
338
|
|
|
1,872,226
|
366,949
|
|
410
|
|
Net
interest income after provision for loan losses
|
8,807,589
|
6,702,662
|
|
31
|
|
|
18,048,243
|
13,480,893
|
|
34
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
|
|
|
|
|
|
|
|
|
|
|
|
Service
fees and charges
|
583,916
|
545,599
|
|
7
|
%
|
|
1,153,858
|
1,020,423
|
|
13
|
%
|
Bank card
fees
|
484,408
|
444,093
|
|
9
|
|
|
952,692
|
842,188
|
|
13
|
|
Gain on
sale of loans, net
|
417,934
|
121,293
|
|
245
|
|
|
744,105
|
225,687
|
|
230
|
|
Income
from bank-owned life insurance
|
130,927
|
146,937
|
|
(11)
|
|
|
262,206
|
292,356
|
|
(10)
|
|
Gain
(loss) on the sale of securities, net
|
59,079
|
-
|
|
-
|
|
|
59,247
|
(166,082)
|
|
136
|
|
Discount
accretion of FDIC loss sharing receivable
|
175,622
|
231,263
|
|
(24)
|
|
|
353,131
|
469,932
|
|
(25)
|
|
Settlement
of litigation
|
-
|
525,000
|
|
(100)
|
|
|
-
|
525,000
|
|
(100)
|
|
Other
income
|
47,773
|
87,323
|
|
(45)
|
|
|
74,335
|
113,906
|
|
(35)
|
|
Total
noninterest income
|
1,899,659
|
2,101,508
|
|
(10)
|
|
|
3,599,574
|
3,323,410
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Expense
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
4,826,649
|
3,915,112
|
|
23
|
%
|
|
9,522,358
|
7,913,520
|
|
20
|
%
|
Occupancy
|
702,003
|
559,165
|
|
26
|
|
|
1,396,945
|
1,124,426
|
|
24
|
|
Marketing
and advertising
|
184,890
|
215,145
|
|
(14)
|
|
|
336,364
|
376,195
|
|
(11)
|
|
Data
processing and communication
|
666,999
|
572,000
|
|
17
|
|
|
1,339,340
|
1,113,507
|
|
20
|
|
Professional fees
|
255,483
|
427,520
|
|
(40)
|
|
|
487,736
|
847,252
|
|
(42)
|
|
Forms,
printing and supplies
|
140,449
|
147,093
|
|
(5)
|
|
|
266,715
|
261,074
|
|
2
|
|
Franchise
and shares tax
|
175,651
|
180,501
|
|
(3)
|
|
|
351,302
|
361,001
|
|
(3)
|
|
Regulatory
fees
|
213,018
|
200,642
|
|
6
|
|
|
411,175
|
430,382
|
|
(4)
|
|
Foreclosed
assets, net
|
242,726
|
105,766
|
|
129
|
|
|
510,724
|
153,900
|
|
232
|
|
Other
expenses
|
635,046
|
488,152
|
|
30
|
|
|
1,229,077
|
936,963
|
|
31
|
|
Total
noninterest expense
|
8,042,914
|
6,811,096
|
|
18
|
|
|
15,851,736
|
13,518,220
|
|
17
|
|
Income
before income tax expense
|
2,664,334
|
1,993,074
|
|
34
|
|
|
5,796,081
|
3,286,083
|
|
76
|
|
Income tax
expense
|
911,659
|
725,627
|
|
26
|
|
|
1,982,948
|
1,223,952
|
|
62
|
|
Net
income
|
$ 1,752,675
|
$ 1,267,447
|
|
38
|
|
|
$ 3,813,133
|
$ 2,062,131
|
|
85
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
per share - basic
|
$ 0.25
|
$ 0.18
|
|
39
|
%
|
|
$ 0.55
|
$ 0.29
|
|
90
|
%
|
Earnings
per share - diluted
|
$ 0.24
|
$ 0.17
|
|
41
|
|
|
$ 0.53
|
$ 0.28
|
|
89
|
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
SUMMARY
FINANCIAL INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The
Three Months Ended
|
|
|
|
|
For The
Three
|
|
|
|
|
|
June
30,
|
|
%
|
|
|
Months
Ended
|
|
|
%
|
|
|
2012
|
|
2011
|
|
Change
|
|
|
March 31,
2012
|
|
|
Change
|
|
(dollars in thousands except per share
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest income
|
$
11,230
|
|
$
8,117
|
|
38
|
%
|
|
$
11,265
|
|
|
-
|
%
|
Total
interest expense
|
1,262
|
|
1,150
|
|
10
|
|
|
1,313
|
|
|
(4)
|
|
Net
interest income
|
9,968
|
|
6,967
|
|
43
|
|
|
9,952
|
|
|
-
|
|
Provision
for loan losses
|
1,160
|
|
265
|
|
338
|
|
|
712
|
|
|
63
|
|
Total
noninterest income
|
1,900
|
|
2,102
|
|
(10)
|
|
|
1,700
|
|
|
12
|
|
Total
noninterest expense
|
8,043
|
|
6,811
|
|
18
|
|
|
7,809
|
|
|
3
|
|
Income tax
expense
|
912
|
|
726
|
|
26
|
|
|
1,071
|
|
|
(15)
|
|
Net
income
|
$ 1,753
|
|
$ 1,267
|
|
38
|
|
|
$ 2,060
|
|
|
(15)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE
BALANCE SHEET DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
963,262
|
|
$
709,360
|
|
36
|
%
|
|
$
965,682
|
|
|
-
|
%
|
Total
interest-earning assets
|
853,680
|
|
612,942
|
|
39
|
|
|
853,349
|
|
|
-
|
|
Totals
loans
|
674,260
|
|
445,947
|
|
51
|
|
|
672,713
|
|
|
-
|
|
Total
interest-bearing deposits
|
606,171
|
|
432,998
|
|
40
|
|
|
598,480
|
|
|
1
|
|
Total
interest-bearing liabilities
|
679,659
|
|
474,008
|
|
43
|
|
|
699,953
|
|
|
(3)
|
|
Total
deposits
|
747,148
|
|
533,640
|
|
40
|
|
|
724,752
|
|
|
3
|
|
Total
shareholders' equity
|
139,113
|
|
133,584
|
|
4
|
|
|
135,975
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average assets
|
0.73
|
%
|
0.71
|
%
|
3
|
%
|
|
0.85
|
%
|
|
(14)
|
%
|
Return on
average equity
|
5.04
|
|
3.80
|
|
33
|
|
|
6.06
|
|
|
(17)
|
|
Efficiency
ratio (2)
|
67.77
|
|
75.10
|
|
(10)
|
|
|
67.01
|
|
|
1
|
|
Average
equity to average assets
|
14.44
|
|
18.83
|
|
(23)
|
|
|
14.08
|
|
|
3
|
|
Tier 1
leverage capital ratio(3)
|
12.72
|
|
15.44
|
|
(18)
|
|
|
12.59
|
|
|
1
|
|
Total
risk-based capital ratio(3)
|
20.70
|
|
27.44
|
|
(25)
|
|
|
20.82
|
|
|
(1)
|
|
Net
interest margin (4)
|
4.70
|
|
4.56
|
|
3
|
|
|
4.69
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER
SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings per share
|
$
0.25
|
|
$
0.18
|
|
39
|
%
|
|
$
0.30
|
|
|
(17)
|
%
|
Diluted
earnings per share
|
0.24
|
|
0.17
|
|
41
|
|
|
0.29
|
|
|
(17)
|
|
Book value
at period end
|
18.07
|
|
16.65
|
|
9
|
|
|
17.74
|
|
|
2
|
|
Tangible
book value at period end
|
17.76
|
|
16.44
|
|
8
|
|
|
17.42
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER
SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding at period end
|
7,693,769
|
|
8,035,404
|
|
(4)
|
%
|
|
7,762,204
|
|
|
(1)
|
%
|
Weighted
average shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
6,972,170
|
|
7,191,476
|
|
(3)
|
%
|
|
6,952,952
|
|
|
-
|
%
|
Diluted
|
7,234,806
|
|
7,337,358
|
|
(1)
|
|
|
7,196,444
|
|
|
1
|
|
|
|
|
(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.
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
SUMMARY
CREDIT QUALITY INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2012
|
|
March 31,
2012
|
|
June 30,
2011
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT
QUALITY(1) (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$
9,585
|
|
$
15,842
|
|
$
25,427
|
|
|
$
10,456
|
|
$15,759
|
|
$
26,215
|
|
|
$
11,668
|
|
$
1,127
|
|
$
12,795
|
|
Accruing
loans past due 90 days and over
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
Total
nonperforming loans
|
9,585
|
|
15,842
|
|
25,427
|
|
|
10,456
|
|
15,759
|
|
26,215
|
|
|
11,668
|
|
1,127
|
|
12,795
|
|
Foreclosed
assets
|
3,244
|
|
1,623
|
|
4,867
|
|
|
5,168
|
|
2,675
|
|
7,843
|
|
|
7,178
|
|
92
|
|
7,270
|
|
Total
nonperforming assets
|
12,829
|
|
17,465
|
|
30,294
|
|
|
15,624
|
|
18,434
|
|
34,058
|
|
|
18,846
|
|
1,219
|
|
20,065
|
|
Performing
troubled debt restructurings
|
20
|
|
831
|
|
851
|
|
|
25
|
|
543
|
|
568
|
|
|
30
|
|
922
|
|
952
|
|
Total
nonperforming assets and troubled
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
debt
restructurings
|
$ 12,849
|
|
$ 18,296
|
|
$ 31,145
|
|
|
$ 15,649
|
|
$18,977
|
|
$ 34,626
|
|
|
$ 18,876
|
|
$ 2,141
|
|
$ 21,017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets to total assets
|
|
|
|
|
3.06
|
%
|
|
|
|
|
|
3.48
|
%
|
|
|
|
|
|
2.80
|
%
|
Nonperforming loans to total assets
|
|
|
|
|
2.57
|
|
|
|
|
|
|
2.68
|
|
|
|
|
|
|
1.78
|
|
Nonperforming loans to total loans
|
|
|
|
|
3.74
|
|
|
|
|
|
|
3.86
|
|
|
|
|
|
|
2.85
|
|
Allowance
for loan losses to nonperforming assets
|
|
|
|
|
17.54
|
|
|
|
|
|
|
17.07
|
|
|
|
|
|
|
20.22
|
|
Allowance
for loan losses to nonperforming loans
|
|
|
|
|
20.90
|
|
|
|
|
|
|
22.18
|
|
|
|
|
|
|
31.71
|
|
Allowance
for loan losses to total loans
|
|
|
|
|
0.78
|
|
|
|
|
|
|
0.86
|
|
|
|
|
|
|
0.90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date loan charge-offs
|
|
|
|
|
$
1,684
|
|
|
|
|
|
|
$
15
|
|
|
|
|
|
|
$
260
|
|
Year-to-date loan recoveries
|
|
|
|
|
22
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
30
|
|
Year-to-date net loan charge-offs
|
|
|
|
|
$ 1,662
|
|
|
|
|
|
|
$ 3
|
|
|
|
|
|
|
$ 230
|
|
Annualized
YTD net loan charge-offs to total loans
|
|
|
|
|
0.49
|
%
|
|
|
|
|
|
-
|
%
|
|
|
|
|
|
0.12
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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.