LAFAYETTE, La., April 26, 2011 /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 $795,000 for the first quarter of 2011, a
decrease of $670,000 compared to the
fourth quarter of 2010 and a decrease of $51,000 compared to the first quarter of 2010.
Diluted earnings per share were $0.11 for the first quarter of 2011 and the
fourth quarter of 2010, compared to $0.20 first quarter of 2010.
"Although loan demand was modest to start the year," stated
John W. Bordelon, President and
Chief Executive Officer of the Company and the Bank, "we continue
to enjoy excellent core deposit growth, which increased at an
annualized rate of over 14% during the first quarter."
"We finished the quarter by announcing our expansion into
Orleans and Jefferson Parishes
through the acquisition of Guaranty Savings Bank," added Mr.
Bordelon. "We are confident that Guaranty's talented team of
bankers and Home Bank's commitment to enhancing the long-term
success of our customers will set us apart in New Orleans just as it has in our other
markets."
Acquisition of GS Financial Corp.
As previously disclosed on March 30,
2011, the Company entered into a definitive agreement to
merge with GS Financial Corp. (Nasdaq: GSLA), the holding company
of the 74-year-old Guaranty Savings Bank. Under the terms of
the agreement, GS Financial will be merged with and into Home
Bancorp in a two-step transaction and Guaranty Savings Bank will be
merged with and into the Bank. Shareholders of GS Financial
will receive $21.00 per share in cash
upon completion of the merger. The merger, which is expected
to be completed in the third quarter of 2011, is subject to GS
Financial Corp. shareholder approval, regulatory approval and other
customary conditions. The Company anticipates that the
transaction will be over 10% accretive to earnings once savings are
fully phased in by 2012. The dilution to tangible book value
is expected to be minimal. Upon completion of the merger, the
combined company will have total assets of approximately
$950 million, $625 million in loans and $750 million in deposits. The Company
incurred $191,000 in pre-tax
merger-related expenses during the first quarter of 2011.
Loans and Credit Quality
The Company's total loans were $442.0
million at March 31, 2011, an
increase of $2.1 million, or 1%, from
December 31, 2010, and a decrease of
$8.3 million, or 2%, from
March 31, 2010. During the
first quarter of 2011, Noncovered Loans increased $6.5 million, while Covered Loans decreased
$4.5 million. Growth in the
Noncovered Loan portfolio was in commercial and industrial (up
$6.2 million) and commercial real
estate (up $1.3 million) loans.
Growth in these portfolios was partially offset by decreases
in Noncovered one- to four-family first mortgage (down $933,000) and construction and land (down
$918,000) loans.
The following table sets forth the composition of the Company's
loan portfolio as of the dates indicated.
|
|
|
|
|
(dollars in
thousands)
|
March
31,
2011
|
December
31,
2010
|
Total
Loans
Increase/(Decrease)
|
|
Noncovered real estate
loans:
|
|
|
|
|
|
One- to
four-family first mortgage
|
$104,224
|
$ 105,157
|
$ (933)
|
(1)%
|
|
Home equity loans
and lines
|
24,796
|
24,898
|
(102)
|
-
|
|
Commercial real
estate
|
117,264
|
115,946
|
1,318
|
1
|
|
Construction and
land
|
44,259
|
45,177
|
(918)
|
(2)
|
|
Multi-family
residential
|
4,634
|
4,493
|
141
|
3
|
|
Total
noncovered real estate loans
|
295,177
|
295,671
|
(494)
|
-
|
|
Noncovered other
loans:
|
|
|
|
|
|
Commercial
|
48,440
|
42,247
|
6,193
|
15
|
|
Consumer
|
22,386
|
21,546
|
840
|
4
|
|
Total
noncovered other loans
|
70,826
|
63,793
|
7,033
|
11
|
|
Total
noncovered loans
|
366,003
|
359,464
|
6,539
|
2
|
|
Covered loans
|
75,996
|
80,447
|
(4,451)
|
(6)
|
|
Total
loans
|
$441,999
|
$ 439,911
|
$ 2,088
|
1
|
|
|
|
|
|
|
|
|
Credit quality statistics remained exceptional during the first
quarter of 2011. Nonperforming assets, excluding Covered Assets,
were $1.2 million at March 31,
2011, an increase of $34,000, or 3%,
from December 31, 2010, and a
decrease of $712,000, or 38%, from
March 31, 2010. The ratio of
nonperforming assets, excluding Covered Assets, to total assets was
0.19% at March 31, 2011 and
December 31, 2010, compared to 0.32%
at March 31, 2010.
The Company recorded net charge-offs of $3,000 during the first quarter of 2011, compared
to net charge-offs of $151,000 in the
fourth quarter of 2010 and $21,000 in
the first quarter of 2010. The Company's loan loss provision for
the first quarter of 2011 was $102,000, compared to $147,000 and $350,000 for the fourth quarter of 2010 and the
first quarter of 2010, respectively.
At March 31, 2011, the Company's
ratio of allowance for loan losses to total Noncovered Loans was
1.10%, compared to 1.09% and 1.08% at December 31, 2010 and March 31, 2010, respectively.
Investment Securities Portfolio
Due to more favorable market pricing, the Company sold
$3.6 million of its non-agency
mortgage-backed securities portfolio during the first quarter of
2011. The sale of these securities, which included the
below-investment-grade securities held by the Company, resulted in
a $166,000 pre-tax net loss.
The remaining portfolio of non-agency mortgage-backed
securities, which had an amortized cost of $16.5 million at March 31,
2011, are all rated AAA or Aaa by Standard & Poor's or
Moody's.
The Company's investment securities portfolio totaled
$141.7 million at March 31, 2011, an increase of $14.5 million, or 11%, from December 31, 2010, and an increase of
$3.5 million, or 3%, from
March 31, 2010. At March 31, 2011, the Company had a net unrealized
gain position on its investment securities portfolio of
$1.6 million, compared to a net
unrealized gain of $1.0 million and a
net unrealized loss of $191,000 at
December 31, 2010 and March 31, 2010, respectively.
Deposits
Core deposits (i.e., checking, savings and money market
accounts) increased for the seventh consecutive quarter, posting
growth of $12.0 million, or 4%,
during the first three months of 2011. Total deposits were
$543.6 million at March 31, 2011, a decrease of $9.6 million, or 2%, from December 31, 2010, and an increase of
$3.7 million, or 1%, from
March 31, 2010.
The following table sets forth the composition of the Company's
deposits at the dates indicated.
|
|
|
|
|
March 31,
|
December
31,
|
Increase /
(Decrease)
|
|
(dollars in
thousands)
|
2011
|
2010
|
Amount
|
Percent
|
|
Demand deposit
|
$ 102,335
|
$ 100,579
|
$ 1,756
|
2%
|
|
Savings
|
31,264
|
29,258
|
2,006
|
7
|
|
Money market
|
143,088
|
133,245
|
9,843
|
7
|
|
NOW
|
66,757
|
68,398
|
(1,641)
|
(2)
|
|
Certificates of
deposit
|
200,175
|
221,738
|
(21,563)
|
(10)
|
|
Total
deposits
|
$ 543,619
|
$ 553,218
|
$ (9,599)
|
(2)%
|
|
|
|
|
|
|
|
|
Net Interest Income
Net interest income for the first quarter of 2011 totaled
$6.9 million, a decrease of
$265,000, or 4%, compared to the
fourth quarter of 2010, and an increase of $1.0 million, or 17%, compared to the first
quarter of 2010. The Company's net interest margin was 4.67%
for the first quarter of 2011, three basis points lower than the
fourth quarter of 2010 and two basis points lower than the first
quarter of 2010.
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
|
|
|
March 31,
2011
|
December 31,
2010
|
March 31,
2010
|
|
(dollars in
thousands)
|
Average
Balance
|
Average
Yield/Rate
|
Average
Balance
|
Average
Yield/Rate
|
Average
Balance
|
Average
Yield/Rate
|
|
Earning-assets:
|
|
|
|
|
|
|
|
Loans receivable
|
$439,490
|
6.59%
|
$448,172
|
6.61%
|
$360,963
|
6.61%
|
|
Investment securities
|
130,607
|
2.94
|
124,561
|
3.39
|
123,183
|
4.30
|
|
Other interest-earning
assets
|
24,423
|
0.61
|
32,045
|
0.47
|
20,049
|
0.55
|
|
Total earning-assets
|
$594,520
|
5.55
|
$604,778
|
5.62
|
$504,195
|
5.81
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
Savings, checking, and money
market
|
$233,440
|
0.53
|
$220,556
|
0.56
|
$153,003
|
0.72
|
|
Certificates of
deposit
|
209,734
|
1.69
|
228,848
|
1.70
|
181,861
|
2.15
|
|
Total interest-bearing
deposits
|
443,174
|
1.08
|
449,404
|
1.14
|
334,864
|
1.50
|
|
FHLB advances
|
15,280
|
2.64
|
14,027
|
3.17
|
17,897
|
3.53
|
|
Total interest-bearing
liabilities
|
$458,454
|
1.13
|
$463,431
|
1.20
|
$352,761
|
1.60
|
|
|
|
|
|
|
|
|
|
Net interest
spread
|
|
4.42%
|
|
4.42%
|
|
4.21%
|
|
Net interest
margin
|
|
4.67%
|
|
4.70%
|
|
4.69%
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
Noninterest income for the first quarter of 2011 totaled
$1.2 million, a decrease of
$232,000, or 16%, compared to the
fourth quarter of 2010 and an increase of $246,000, or 25%, compared to the first quarter
of 2010.
The decrease in noninterest income in the first quarter of 2011
compared to the fourth quarter of 2010 resulted primarily from
lower gains on the sale of mortgage loans and a net loss on the
sale of a sizeable portion of the Company's non-agency
mortgage-backed securities portfolio. The sale of securities,
which included the Company's holdings of below-investment-grade
securities, resulted in a $166,000
pre-tax net loss.
The increase in noninterest income in the first quarter of 2011
compared to the first quarter of 2010 resulted primarily from
higher levels of bank card fees and the discount accretion of the
FDIC loss sharing receivable associated with the acquisition of
Statewide Bank late in the first quarter of 2010. The increase in
bank card fees was primarily the result of the addition of accounts
through the Statewide acquisition.
Subsequent to the end of the first quarter of 2011, the Company
entered into a settlement agreement with respect to litigation
brought by the Company against a counterparty for losses reported
by the Company in 2008 relating to the Company's former business
line of providing cash to third-party ATM providers. Under
the terms of the settlement agreement, the Company received
$525,000 in April 2011 and has foregone its right to pursue
future claims related to any unrecovered loss. The
$525,000 will be reported as
noninterest income in the second quarter of 2011. The Company
ceased providing cash to third-party ATM providers in 2009.
Noninterest Expense
Noninterest expense for the first quarter of 2011 totaled
$6.7 million, an increase of
$459,000, or 7%, compared to the
fourth quarter of 2010 and an increase of $1.5 million, or 28%, compared the first quarter
of 2010.
The increase in noninterest expense in the first quarter of 2011
compared to the fourth quarter of 2010 resulted primarily from an
increase in franchise and shares taxes, compensation and benefits
expense and $191,000 of
merger-related expenses. These increases were partially
offset by a $101,000 decrease in
repossessed asset expenses (reported in other noninterest
expenses).
The increase in noninterest expense in the first quarter of 2011
compared to the first quarter of 2010 was primarily due to higher
compensation and benefits, occupancy and data processing and
communications expenses related to the Statewide Bank acquisition
and the addition of our Baton
Rouge headquarters location in mid-March 2010. Additionally, regulatory
fees increased during the quarter ended March 31, 2011 compared to the same quarter a
year ago as a result of an increase in base insurance premium
assessments on deposits by the FDIC.
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, 2010, 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March
31,
|
|
March
31,
|
|
%
|
|
|
December
31,
|
|
|
2011
|
|
2010
|
|
Change
|
|
|
2010
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$ 22,466,923
|
|
$ 17,841,146
|
|
26%
|
|
|
$ 36,970,638
|
|
Interest-bearing deposits
in banks
|
8,857,000
|
|
5,652,000
|
|
57
|
|
|
7,867,000
|
|
Investment securities
available for sale, at fair value
|
133,933,288
|
|
123,608,320
|
|
8
|
|
|
111,962,331
|
|
Investment securities held
to maturity
|
7,764,023
|
|
14,628,588
|
|
(47)
|
|
|
15,220,474
|
|
Mortgage loans held for
sale
|
560,991
|
|
2,411,700
|
|
(77)
|
|
|
2,436,986
|
|
Loans covered by loss
sharing agreements
|
75,996,118
|
|
108,056,686
|
|
(30)
|
|
|
80,446,859
|
|
Noncovered loans, net of
unearned income
|
366,003,288
|
|
342,247,448
|
|
7
|
|
|
359,464,400
|
|
Total
loans
|
441,999,406
|
|
450,304,134
|
|
(2)
|
|
|
439,911,259
|
|
Allowance for loan
losses
|
(4,019,285)
|
|
(3,680,819)
|
|
9
|
|
|
(3,919,745)
|
|
Total loans,
net of allowance for loan losses
|
437,980,121
|
|
446,623,315
|
|
(2)
|
|
|
435,991,514
|
|
FDIC loss sharing
receivable
|
31,030,272
|
|
34,422,039
|
|
(10)
|
|
|
32,012,783
|
|
Office properties and
equipment, net
|
23,216,809
|
|
17,386,998
|
|
34
|
|
|
23,371,915
|
|
Cash surrender value of
bank-owned life insurance
|
16,338,064
|
|
15,710,189
|
|
4
|
|
|
16,192,645
|
|
Accrued interest
receivable and other assets
|
18,327,587
|
|
18,455,796
|
|
(1)
|
|
|
18,396,806
|
|
Total Assets
|
$ 700,475,078
|
|
$ 696,740,091
|
|
1
|
|
|
$ 700,423,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
$ 543,619,256
|
|
$ 539,934,197
|
|
1%
|
|
|
$ 553,217,853
|
|
Federal Home Loan Bank
advances
|
21,000,000
|
|
19,259,424
|
|
9
|
|
|
13,000,000
|
|
Accrued interest payable
and other liabilities
|
3,281,323
|
|
4,681,109
|
|
(30)
|
|
|
2,675,297
|
|
Total Liabilities
|
567,900,579
|
|
563,874,730
|
|
1
|
|
|
568,893,150
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
Common stock
|
89,270
|
|
$
89,270
|
|
-%
|
|
|
$
89,270
|
|
Additional paid-in
capital
|
89,183,147
|
|
88,424,553
|
|
1
|
|
|
88,818,862
|
|
Treasury stock
|
(11,028,575)
|
|
(2,980,831)
|
|
(270)
|
|
|
(10,425,725)
|
|
Common stock acquired by
benefit plans
|
(9,676,562)
|
|
(10,824,200)
|
|
11
|
|
|
(9,770,556)
|
|
Retained
earnings
|
62,920,252
|
|
58,282,859
|
|
8
|
|
|
62,125,568
|
|
Accumulated other
comprehensive income (loss)
|
1,086,967
|
|
(126,290)
|
|
961
|
|
|
692,523
|
|
Total Shareholders'
Equity
|
132,574,499
|
|
132,865,361
|
|
-
|
|
|
131,529,942
|
|
Total Liabilities and
Shareholders' Equity
|
$ 700,475,078
|
|
$ 696,740,091
|
|
1
|
|
|
$ 700,423,092
|
|
|
|
|
|
|
|
|
|
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
|
CONDENSED
STATEMENTS OF INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The
Three Months Ended
|
|
|
|
|
For The
Three
|
|
|
|
|
|
March
31,
|
|
%
|
|
|
Months
Ended
|
|
%
|
|
|
|
2011
|
2010
|
|
Change
|
|
|
December 31,
2010
|
|
Change
|
|
|
Interest Income
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
fees
|
$ 7,160,653
|
$ 5,907,230
|
|
21%
|
|
|
$
7,456,346
|
|
(4)%
|
|
|
Investment
securities
|
960,821
|
1,323,218
|
|
(27)
|
|
|
1,056,751
|
|
(9)
|
|
|
Other investments and
deposits
|
36,721
|
27,323
|
|
34
|
|
|
37,895
|
|
(3)
|
|
|
Total interest
income
|
8,158,195
|
7,257,771
|
|
12
|
|
|
8,550,992
|
|
(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
1,177,048
|
1,236,197
|
|
(5)%
|
|
|
1,294,223
|
|
(9)%
|
|
|
Federal Home Loan Bank
advances
|
100,640
|
157,659
|
|
(36)
|
|
|
111,440
|
|
(10)
|
|
|
Total interest
expense
|
1,277,688
|
1,393,856
|
|
(8)
|
|
|
1,405,663
|
|
(9)
|
|
|
Net interest income
|
6,880,507
|
5,863,915
|
|
17
|
|
|
7,145,329
|
|
(4)
|
|
|
Provision for loan
losses
|
102,276
|
350,032
|
|
(71)
|
|
|
147,297
|
|
(31)
|
|
|
Net interest income after
provision for loan losses
|
6,778,231
|
5,513,883
|
|
23
|
|
|
6,998,032
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income
|
|
|
|
|
|
|
|
|
|
|
|
Service fees and
charges
|
474,824
|
467,389
|
|
2%
|
|
|
477,547
|
|
(1)%
|
|
|
Bank card fees
|
398,094
|
283,057
|
|
41
|
|
|
405,685
|
|
(2)
|
|
|
Gain on sale of loans,
net
|
104,393
|
78,393
|
|
33
|
|
|
337,435
|
|
(69)
|
|
|
Income from bank-owned
life insurance
|
145,419
|
149,246
|
|
(3)
|
|
|
158,496
|
|
(8)
|
|
|
Other-than-temporary
impairment of securities
|
-
|
-
|
|
-
|
|
|
(218,266)
|
|
100
|
|
|
Gain (loss) on the sale of
securities, net
|
(166,082)
|
-
|
|
-
|
|
|
10,374
|
|
(1,701)
|
|
|
Discount accretion of FDIC
loss sharing receivable
|
238,669
|
-
|
|
-
|
|
|
236,895
|
|
1
|
|
|
Other income
|
48,036
|
19,535
|
|
146
|
|
|
66,968
|
|
(28)
|
|
|
Total noninterest
income
|
1,243,353
|
997,620
|
|
25
|
|
|
1,475,134
|
|
(16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Expense
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and
benefits
|
3,998,408
|
3,012,137
|
|
33%
|
|
|
3,797,201
|
|
5%
|
|
|
Occupancy
|
565,261
|
387,983
|
|
46
|
|
|
565,753
|
|
-
|
|
|
Marketing and
advertising
|
161,050
|
201,737
|
|
(20)
|
|
|
238,500
|
|
(32)
|
|
|
Data processing and
communication
|
541,507
|
379,382
|
|
43
|
|
|
493,814
|
|
10
|
|
|
Professional
fees
|
419,732
|
468,062
|
|
(10)
|
|
|
188,737
|
|
122
|
|
|
Franchise and shares
tax
|
180,500
|
201,071
|
|
(10)
|
|
|
(40,515)
|
|
546
|
|
|
Regulatory fees
|
229,739
|
110,904
|
|
107
|
|
|
228,244
|
|
1
|
|
|
Other expenses
|
632,378
|
485,207
|
|
30
|
|
|
798,210
|
|
(21)
|
|
|
Total noninterest
expense
|
6,728,575
|
5,246,483
|
|
28
|
|
|
6,269,944
|
|
7
|
|
|
Income before income tax
expense
|
1,293,009
|
1,265,020
|
|
2
|
|
|
2,203,222
|
|
(41)
|
|
|
Income tax expense
|
498,325
|
419,605
|
|
19
|
|
|
738,301
|
|
(33)
|
|
|
Net income
|
$
794,684
|
$
845,415
|
|
(6)%
|
|
|
$
1,464,921
|
|
(46)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
0.11
|
$
0.11
|
|
-%
|
|
|
$
0.20
|
|
(45)%
|
|
|
Diluted
|
$
0.11
|
$
0.11
|
|
-
|
|
|
$
0.20
|
|
(45)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
|
SUMMARY
FINANCIAL INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The
Three Months Ended
|
|
|
|
|
For The
Three
|
|
|
|
|
|
|
March
31,
|
|
%
|
|
|
Months
Ended
|
|
|
%
|
|
|
|
2011
|
|
2010
|
|
Change
|
|
|
December 31,
2010
|
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCE SHEET
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
$ 692,755
|
|
$ 559,413
|
|
24%
|
|
|
$
698,683
|
|
|
(1)%
|
|
|
Total interest-earning
assets
|
594,520
|
|
504,195
|
|
18
|
|
|
604,779
|
|
|
(2)
|
|
|
Loans
|
439,490
|
|
360,963
|
|
22
|
|
|
448,172
|
|
|
(2)
|
|
|
Interest-bearing
deposits
|
443,174
|
|
334,864
|
|
32
|
|
|
449,404
|
|
|
(1)
|
|
|
Interest-bearing
liabilities
|
458,454
|
|
352,761
|
|
30
|
|
|
463,431
|
|
|
(1)
|
|
|
Total deposits
|
543,323
|
|
407,380
|
|
33
|
|
|
551,010
|
|
|
(1)
|
|
|
Total shareholders'
equity
|
131,994
|
|
129,618
|
|
2
|
|
|
131,802
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
0.46%
|
|
0.60%
|
|
(23)%
|
|
|
0.84%
|
|
|
(45)%
|
|
|
Return on average
equity
|
2.41
|
|
2.61
|
|
(8)
|
|
|
4.45
|
|
|
(46)
|
|
|
Efficiency ratio (2)
|
82.82
|
|
76.46
|
|
8
|
|
|
72.18
|
|
|
15
|
|
|
Average equity to average
assets
|
19.05
|
|
23.17
|
|
(18)
|
|
|
18.86
|
|
|
1
|
|
|
Tier 1 leverage capital ratio
(3)
|
15.59
|
|
14.94
|
|
4
|
|
|
15.46
|
|
|
1
|
|
|
Total risk-based capital ratio
(3)
|
24.86
|
|
21.32
|
|
17
|
|
|
23.65
|
|
|
5
|
|
|
Net interest margin
|
4.67
|
|
4.69
|
|
-
|
|
|
4.70
|
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per
share
|
$
0.11
|
|
$
0.11
|
|
-%
|
|
|
$
0.20
|
|
|
(45)%
|
|
|
Diluted earnings per
share
|
0.11
|
|
0.11
|
|
-
|
|
|
0.20
|
|
|
(45)
|
|
|
Book value at period
end
|
16.39
|
|
15.30
|
|
7
|
|
|
16.18
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at period
end
|
8,087,159
|
|
8,682,700
|
|
(7)%
|
|
|
8,131,002
|
|
|
(1)%
|
|
|
Weighted average shares
outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
7,177,377
|
|
7,707,576
|
|
(7)%
|
|
|
7,274,882
|
|
|
(1)%
|
|
|
Diluted
|
7,277,013
|
|
7,789,451
|
|
(7)
|
|
|
7,347,275
|
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) With the exception of
end-of-period ratios, all ratios are based on average monthly
balances during the respective periods and are annualized where
appropriate.
|
|
(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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOME
BANCORP, INC. AND SUBSIDIARY
|
|
SUMMARY
CREDIT QUALITY INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2011
|
|
March 31,
2010
|
|
December 31,
2010
|
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
Covered
|
Noncovered
|
Total
|
|
(dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans
|
$ 15,479
|
$ 1,090
|
$ 16,569
|
|
$ 16,780
|
$ 1,473
|
$ 18,253
|
|
$ 15,988
|
$ 1,056
|
$ 17,044
|
|
Accruing loans past due 90 days
and over
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
Total nonperforming
loans
|
15,479
|
1,090
|
16,569
|
|
16,780
|
1,473
|
18,253
|
|
15,988
|
1,056
|
17,044
|
|
Other real estate
owned
|
5,281
|
92
|
5,373
|
|
2,536
|
421
|
2,957
|
|
5,661
|
92
|
5,753
|
|
Total nonperforming
assets
|
20,760
|
1,182
|
21,942
|
|
19,316
|
1,894
|
21,210
|
|
21,649
|
1,148
|
22,797
|
|
Performing troubled debt
restructurings
|
-
|
1,067
|
1,067
|
|
-
|
762
|
762
|
|
-
|
721
|
721
|
|
Total nonperforming assets and
troubled
|
|
|
|
|
|
|
|
|
|
|
|
|
debt
restructurings
|
$ 20,760
|
$ 2,249
|
$ 23,009
|
|
$ 19,316
|
$ 2,656
|
$ 21,972
|
|
$ 21,649
|
$ 1,869
|
$ 23,518
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets to total
assets (2)
|
|
0.19%
|
|
|
|
0.32%
|
|
|
|
0.19%
|
|
|
Nonperforming loans to total
assets (2)
|
|
0.18
|
|
|
|
0.25
|
|
|
|
0.17
|
|
|
Nonperforming loans to total
loans (2)
|
|
0.30
|
|
|
|
0.43
|
|
|
|
0.29
|
|
|
Allowance for loan losses to
nonperforming assets
|
|
340.12
|
|
|
|
194.30
|
|
|
|
341.51
|
|
|
Allowance for loan losses to
nonperforming loans
|
|
368.80
|
|
|
|
249.90
|
|
|
|
371.23
|
|
|
Allowance for loan losses to
total loans
|
|
1.10
|
|
|
|
1.08
|
|
|
|
1.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date loan
charge-offs
|
$
-
|
$
9
|
$
9
|
|
$
-
|
$
28
|
$
28
|
|
$
-
|
$ 369
|
$
369
|
|
Year-to-date loan
recoveries
|
-
|
6
|
6
|
|
-
|
7
|
7
|
|
-
|
72
|
72
|
|
Year-to-date net loan
charge-offs
|
$
-
|
$
3
|
$
3
|
|
$
-
|
$
21
|
$
21
|
|
$
-
|
$ 297
|
$
297
|
|
Annualized YTD net loan
charge-offs to total loans
|
-%
|
-%
|
-%
|
|
-%
|
0.02%
|
0.02%
|
|
-%
|
0.08%
|
0.07%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) 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 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 excludes assets covered under FDIC loss sharing
agreements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE Home Bancorp, Inc.