Home Bancorp Files Q2 2024 10-Q

TL;DR

HOME BANCORP 10-Q FILED: Q2 2024 financials are in, check for deposit and loan growth.

AI Summary

Home Bancorp, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and business segments are presented, reflecting the company's status as a savings institution.

Why It Matters

This filing provides investors and analysts with a detailed look at Home Bancorp's financial health and operational performance during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a financial institution, Home Bancorp is subject to various market, credit, and regulatory risks inherent in the banking sector.

Key Numbers

• 2024-06-30 — Period End Date (End of the reporting period for this 10-Q filing.)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period for the Q2 2024 financial data.)
• 2023-12-31 — Previous Year End Date (Reference point for year-over-year comparisons.)
• 2024-04-01 — Q2 Start Date (Start date for the second quarter of 2024.)
• 2023-04-01 — Q2 2023 Start Date (Start date for the second quarter of 2023, for comparative analysis.)

Key Players & Entities

• HOME BANCORP, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240802 (date) — Filing Date
• LAFAYETTE (location) — Business Address City
• LA (location) — Business Address State
• 70508 (postal_code) — Business Address Zip
• 001-34190 (other) — SEC File Number

FAQ

Key Financial Figures

• $0.01 — t had 8,069,395 shares of common stock, $0.01 par value, outstanding. HOME BANCORP,

Filing Documents

• hbcp-20240630.htm (10-Q) — 3376KB
• a2024q2ex311-certification.htm (EX-31.1) — 10KB
• a2024q2ex312-certification.htm (EX-31.2) — 10KB
• a2024q2ex320-soxcertificat.htm (EX-32.0) — 10KB
• 0001436425-24-000033.txt ( ) — 16452KB
• hbcp-20240630.xsd (EX-101.SCH) — 44KB
• hbcp-20240630_cal.xml (EX-101.CAL) — 123KB
• hbcp-20240630_def.xml (EX-101.DEF) — 381KB
• hbcp-20240630_lab.xml (EX-101.LAB) — 723KB
• hbcp-20240630_pre.xml (EX-101.PRE) — 566KB
• hbcp-20240630_htm.xml (XML) — 4461KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (unaudited) Page

Item 1. Financial Statements (unaudited) Page Consolidated Statements of Financial Condition 1 Consolidated Statements of Income 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Shareholders' Equity 4 Consolidated Statements of Cash Flows 6 Notes to Unaudited Consolidated Financial Statements 7

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

Item 2. Management 's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 47

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 i HOME BANCORP, INC. and SUBSIDIARY GLOSSARY OF DEFINED TERMS Below is a listing of certain acronyms, abbreviations and defined terms, among others, used throughout this Quarterly Report on Form 10-Q, including in "Item 1. Financial Statements" and "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." The terms "we," "our" or "us" refer to Home Bancorp, Inc. and its consolidated subsidiaries, unless the context otherwise requires. ACL – Allowance for credit losses ALL – Allowance for loan losses AOCI – Accumulated other comprehensive income ASC – Accounting Standards Codification ASU – Accounting Standards Update Bank – Home Bank, N. A., a wholly-owned subsidiary of the Company BOLI – Bank-owned life insurance bps – basis points, 100 basis points being equal to 1.0% BTFP – Bank Term Funding Program C&D – Construction and land C&I – Commercial and industrial CARES Act – Coronavirus Aid, Relief, and Economic Security Act CECL – Current expected credit losses Company – Home Bancorp, Inc., a Louisiana corporation and the holding company for Home Bank, N. A. COVID-19 – The novel coronavirus CRE – Commercial real estate EPS – Earnings per common share FASB – Financial Accounting Standards Board FHLB – Federal Home Loan Bank GAAP – Generally Accepted Accounting Principles LTV – Loan-to-value NPA(s) – Nonperforming asset(s) OCI – Other comprehensive income ORE – Other real estate PCD – Purchased credit deteriorated PPP – Paycheck Protection Program SBA – U.S. Small Business Association SEC – U.S. Securities and Exchange Commission TE – Taxable equivalent U.S. – United States ii HOME BANCORP, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Audited) (dollars in thousands) June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 113,462 $ 75,831 Interest-bearing deposits in banks — 99 Investment securities available for sale,

View Full Filing

View this 10-Q filing on SEC EDGAR