Home Bancorp, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Home Bancorp, Inc. has filed its comprehensive 2023 annual report on Form 10-K.</b>

AI Summary

HOME BANCORP, INC. (HBCP) filed a Annual Report (10-K) with the SEC on March 8, 2024. Home Bancorp, Inc. filed its annual report for the fiscal year ending December 31, 2023. The filing is a 10-K report, submitted on March 8, 2024. The company is incorporated in Louisiana and operates in the Savings Institutions sector. Key financial data points and disclosures for the fiscal year 2023 are included. The report covers financial activities and business operations for the period.

Why It Matters

For investors and stakeholders tracking HOME BANCORP, INC., this filing contains several important signals. This 10-K filing provides a detailed overview of Home Bancorp's financial performance and strategic positioning for the fiscal year 2023, crucial for investors assessing its stability and growth prospects. The report's disclosures are essential for understanding the company's regulatory compliance, operational health, and market standing within the savings institutions sector.

Risk Assessment

Risk Level: low — HOME BANCORP, INC. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or urgent disclosures, indicating a routine update of financial and operational information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Home Bancorp's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023 — Fiscal Year (Reporting period)
• 2024-03-08 — Filing Date (Date of submission)
• 1231 — Fiscal Year End (End date of the fiscal year)
• 6036 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• HOME BANCORP, INC. (company) — Filer name
• HBCP (company) — Ticker symbol
• 2024-03-08 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• LA (location) — State of incorporation
• LAFAYETTE (location) — Business address city
• 70508 (postal_code) — Business address zip
• 001-34190 (filing_number) — SEC file number

FAQ

Industry Context

Home Bancorp, Inc. operates within the Savings Institutions, Not Federally Chartered sector, providing financial services typical of community banks.

Regulatory Implications

As a savings institution, Home Bancorp is subject to regulations from federal and state authorities overseeing the banking and financial services industry.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and asset growth.
2. Review management's discussion and analysis for strategic insights and outlook.
3. Examine risk factors for potential challenges and mitigation strategies.

Key Dates

• 2024-03-08: 10-K Filing — Submission of the annual report for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.

Year-Over-Year Comparison

This is the initial filing data extracted, and a comparison to a previous filing is not available from the provided text.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share HBCP The Nasdaq Sto
• $33.21 — liates, based upon the closing price of $33.21 for the common stock on June 30, 2023,
• $10 billion — y institutions with assets of less than $10 billion and for large banks with assets of more
• $50 billion — or large banks with assets of more than $50 billion. Many of these changes could result in
• $10.0 billion — le restrictions on community banks with $10.0 billion or less in total consolidated assets an
• $250,000 — nsured deposit relationship category to $250,000. As insurer, the FDIC is authorized to

Filing Documents

• hbcp-20231231.htm (10-K) — 5087KB
• d528421dex231202310-k3.htm (EX-23.1) — 3KB
• hbcp-20231231xex311.htm (EX-31.1) — 9KB
• hbcp-20231231xex312.htm (EX-31.2) — 9KB
• hbcp-20231231xex320.htm (EX-32.0) — 7KB
• clawbackpolicy.htm (EX-97.1) — 31KB
• hbcp-20231231_g1.jpg (GRAPHIC) — 99KB
• hbcp-20231231_g2.jpg (GRAPHIC) — 5KB
• hbcp-20231231_g3.jpg (GRAPHIC) — 10KB
• 0001436425-24-000009.txt (&nbsp;) — 24667KB
• hbcp-20231231.xsd (EX-101.SCH) — 100KB
• hbcp-20231231_cal.xml (EX-101.CAL) — 186KB
• hbcp-20231231_def.xml (EX-101.DEF) — 577KB
• hbcp-20231231_lab.xml (EX-101.LAB) — 1232KB
• hbcp-20231231_pre.xml (EX-101.PRE) — 953KB
• hbcp-20231231_htm.xml (XML) — 5950KB

Risk Factors

Item 1A. Risk Factors 8

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 15 Item 1C. C ybersecurity 15

Properties

Item 2. Properties 17

Legal Proceedings

Item 3. Legal Proceedings 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17 PART II

Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17

Reserved

Item 6. Reserved 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 40

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 41

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 94

Controls and Procedures

Item 9A. Controls and Procedures 94

Other Information

Item 9B. Other Information 94

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 94 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 95

Executive Compensation

Item 11. Executive Compensation 95

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 95

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 95

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 95 PART IV Item 15 . Exhibits and Financial Statement Schedules 96

Form 10-K Summary

Item 16. Form 10-K Summary 98

SIGNATURES

SIGNATURES 99 GLOSSARY OF DEFINED TERMS Below is a listing of certain acronyms, abbreviations and defined terms, among others, used throughout this Annual Report on Form 10-K. As used in this report, unless the context otherwise requires, the terms "we," "our," "us" or the "Company" refer to Home Bancorp, Inc., a Louisiana corporation, and the term "Bank" refers to Home Bank, National Association, a national bank and wholly-owned subsidiary of the Company (for periods prior to March 2, 2015, the term "Bank" refers to the predecessor federal savings bank, Home Bank). In addition, unless the context otherwise requires, references to the operations of the Company include the operations of the Bank. ACL – Allowance for credit losses ESOP – Employee Stock Ownership Plan ALL – Allowance for loan losses FDIC – Federal Deposit Insurance Corporation AOCI – Accumulated other comprehensive income FASB – Financial Accounting Standards Board ASC – Accounting Standards Codification FHLB – Federal Home Loan Bank ASU – Accounting Standards Update FRB or Federal Reserve – Board of Governors of the Federal Reserve System Bank – Home Bank, N.A., a wholly-owned subsidiary of the Company GAAP – Generally Accepted Accounting Principles in the United States of America BTFP – Bank Term Funding Program HTC – Historic Tax Credit(s) BOLI – Bank-owned life insurance NMTC – New Markets Tax Credit(s) bps – basis points, 100 basis points being equal to 1.0% OCC – Office of the Comptroller of the Currency C&D – Construction and land OCI – Other comprehensive income C&I – Commercial and industrial ORE – Other real estate CAA – Consolidated Appropriations Act PCD – Purchased credit deteriorated CARES Act – Coronavirus Aid, Relief, and Economic Security Act PCI – Purchased credit impaired CBLR – Community bank leverage ratio PPP – Paycheck Protection Program CECL – Current expected credit losses RRP – Recognition and Retention Plan CFPB – Consumer Financial Protection

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains certain forward looking statements (as defined in the Securities Exchange Act of 1934 and the regulations thereunder). Forward looking statements are not historical facts but instead represent only the beliefs, expectations or opinions of Home Bancorp, Inc. and its management regarding future events, many of which, by their nature, are inherently uncertain. Forward looking statements may be identified by the use of such words as: "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning or future or conditional terms such as "will," "would," "should," "could," "may," "likely," "probably" or "possibly." Forward looking statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks, uncertainties and assumptions, many of which are difficult to predict and generally are beyond the control of Home Bancorp, Inc. and its management, that could cause actual results to differ materially from those expressed in, or implied or projected by, forward looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward looking statements: (1) economic and competitive conditions which could affect the volume of loan originations, deposit flows or real estate values; (2) the levels of noninterest income and expense and the amount of loan losses; (3) competitive pressure among depository institutions increasing significantly; (4) changes in the interest rate environment causing reduced interest margins; (5) general economic conditions, either nationally or in the markets in which Home Bancorp, Inc. is or will be doing bu

Business

Item 1. Business. General. Home Bancorp, Inc. (the "Company") is a Louisiana corporation and the holding company for Home Bank, N.A. (the "Bank"). The Bank, which is headquartered in Lafayette, Louisiana and is a wholly-owned subsidiary of the Company, currently conducts business through 42 banking offices in the Acadiana, Baton Rouge, Greater New Orleans and Northshore (of Lake Pontchartrain) regions of south Louisiana, the Natchez region of west Mississippi and Houston region of Texas. The Company is subject to regulation as a bank holding company by the Board of Governors of the Federal Reserve System (the "FRB" or the "Federal Reserve"). The Bank established HB Investment Fund I, LLC and HB Investment Fund II, LLC, wholly-owned subsidiaries of the Bank to invest in New Markets Tax Credits ("NMTC") and Federal Tax Credits ("FTC") in our market areas. The Bank is primarily engaged in attracting deposits from the general public and using those funds to invest in loans and securities. Our principal sources of funds are customer deposits, repayments of loans, repayments of investments and funds borrowed from outside sources such as the Federal Home Loan Bank ("FHLB") of Dallas. These funds are primarily used for the origination of loans, including one-to four-family first mortgage loans, home equity loans and lines, commercial real estate loans, construction and land loans, multi-family residential loans, commercial and industrial loans and consumer loans. The Bank derives its income principally from interest earned on loans and investment securities and, to a lesser extent, from fees received in connection with the origination of loans, service charges on deposit accounts and for other services. The Bank's primary expenses are interest expense and general operating expenses, the most significant of which is compensation and benefits. Although we continue to be an active originator of residential home mortgage loans and other consumer loans in our market areas,

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View this 10-K filing on SEC EDGAR