Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 126

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 126
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Item 7.    Management’s Discussion and Analysis of Financial Condition and Results of Operations.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following is an analysis and discussion of the financial condition and results of operations of Home Bancorp, Inc. (the “Company”), and its wholly owned subsidiary, Home Bank, N.A. (the “Bank”). This discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related notes included herein in Part II, Item 8, “Financial Statements and Supplementary Data” and the description of our business included herein in Part 1, Item 1 “Business”.

EXECUTIVE OVERVIEW

The Company reported net income for 2024 of $36.4 million, or $4.55 diluted EPS compared to $40.2 million, or $4.99 diluted EPS, reported for 2023. Key components of the Company's performance in 2024 are summarized below.

•Assets increased $123.5 million, or 3.7%, from December 31, 2023 to $3.4 billion at December 31, 2024. 

•Loans increased by $136.5 million, or 5.3%, from December 31, 2023 to $2.7 billion at December 31, 2024.

•During the year ended December 31, 2024, the Company provisioned $2.4 million of the allowance for loan losses compared to a $2.3 million provisioned for the year ended December 31, 2023. 

•The ALL totaled $32.9 million, or 1.21% of total loans, at December 31, 2024. The ACL, which is comprised of the allowance for loan losses plus the allowance for unfunded lending commitments, totaled $35.6 million, or 1.31% of total loans, at December 31, 2024. 

•Total deposits increased $110.1 million, or 4.1%, from December 31, 2023 to $2.8 billion at December 31, 2024, primarily due to increases in certificate of deposits and money market accounts.

•The Company repurchased 124,634 shares of common stock at an average price of $37.79 per share during 2024.

•The net interest margin was 3.71% for the year ended December 31, 202