HOME BANCORP ANNOUNCES 2022 FOURTH QUARTER RESULTS AND INCREASES QUARTERLY DIVIDEND BY 4%

LAFAYETTE, La., Jan. 24, 2023

"We are excited to report strong earnings and loan growth throughout our footprint for the third consecutive quarter," said John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. "While maintaining a strong credit discipline, the Company's total loans increased on a reported basis 6% from the previous quarter.  Excluding PPP loans, total loans increased $127.9 million, or 22% on an annualized basis.  We are seeing continuous success attracting new customers throughout our footprint."

Fourth Quarter 2022 Highlights

• Loans totaled $2.4 billion at December 31, 2022, up $127.5 million, or 6%, from September 30, 2022. PPP loans totaled $6.7 million at December 31, 2022, down $402,000, or 6%, from September 30, 2022.
• Net interest income totaled $33.3 million, up $1.3 million, or 4%, from the prior quarter.
• The net interest margin ("NIM") increased 27 basis points from 4.11% for the third quarter of 2022 to 4.38%.
• Nonperforming assets totaled $11.0 million, or 0.34% of total assets, down $6.5 million, or 37%, from September 30, 2022 primarily due to improved performance of some loans and paydowns.
• The Company recorded a $2.0 million provision to the allowance for loan losses, compared to a $1.7 million provision in the prior quarter, primarily due to loan growth.

Loans

Loans totaled $2.4 billion at December 31, 2022, up $127.5 million, or 6%, from September 30, 2022. PPP loans, included in commercial and industrial loans, decreased $402,000, or 6%, from September 30, 2022. The following table summarizes the changes in the Company's loan portfolio from September 30, 2022 to December 31, 2022.

		December 31, ARIVA.DE Börsen-Geflüster Kurse Home Bancorp Inc 35,50 $ 0,00%		September 30,		Increase (Decrease)
(dollars in thousands)		2022		2022		Amount		Percent
Real estate loans:
One- to four-family first mortgage		$                389,616		$                376,028		$                  13,588		4 %
Home equity loans and lines		61,863		60,624		1,239		2
Commercial real estate		1,152,537		1,086,656		65,881		6
Construction and land		313,175		328,753		(15,578)		(5)
Multi-family residential		100,588		97,212		3,376		3
Total real estate loans		2,017,779		1,949,273		68,506		4
Other loans:
Commercial and industrial		377,894		320,900		56,994		18
Consumer		35,077		33,106		1,971		6
Total other loans		412,971		354,006		58,965		17
Total loans		$            2,430,750		$             2,303,279		$                127,471		6 %

The average loan yield was 5.43% for the fourth quarter of 2022, up 26 basis points from the third quarter of 2022. Commercial real estate and commercial and industrial loans were the primary drivers for the loan growth during the fourth quarter of 2022. Commercial real estate loan growth for the current quarter was primarily in our Acadiana and Houston markets. During the fourth quarter of 2022, the growth in commercial and industrial loans was primarily within our Acadiana and Northshore markets.

Credit Quality and Allowance for Credit Losses

Nonperforming assets ("NPAs"), totaled $11.0 million, or 0.34% of total assets at December 31, 2022, down $6.5 million, or 37%, from $17.5 million, or 0.55% of total assets, at September 30, 2022.  The Company recorded net loan charge-offs of $39,000 during the fourth quarter of 2022, compared to net loan charge-offs of $365,000 for the third quarter of 2022.

The Company made a  $2.0 million provision to the allowance for loan losses in the fourth quarter of 2022 primarily due to loan growth. For the year ended December 31, 2022, provisions to the allowance for loan losses totaled $7.5 million. At December 31, 2022, the allowance for loan losses totaled $29.3 million, or 1.21% of total loans, compared to $27.4 million, or 1.19% of total loans, at September 30, 2022. Changes in expected losses consider various factors including the changing economic activity, potential mitigating effects of governmental stimulus, customer specific information impacting changes in risk ratings, projected delinquencies and the impact of industry-wide loan modification efforts, among other factors.

Deposits

Total deposits were $2.6 billion at December 31, 2022, down $105.2 million, or 4%, from September 30, 2022. The decrease in deposits for the fourth quarter of 2022 was primarily due to customers utilizing excess cash. The following table summarizes the changes in the Company's deposits from September 30, 2022 to December 31, 2022.

		December 31,		September 30,		Increase/(Decrease)
(dollars in thousands)		2022		2022		Amount		Percent
Demand deposits		$                  904,301		$                  921,089		$                  (16,788)		(2) %
Savings		305,871		325,594		(19,723)		(6)
Money market		423,990		452,474		(28,484)		(6)
NOW		663,574		686,592 Werbung Mehr Nachrichten zur Home Bancorp Inc Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 09:54 - PR Newswire Datang Intnl Pwr Gen - First Quarterly Report of 2024 09:44 - PR Newswire Datang Intnl Pwr Gen - 2023 Annual Report Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59