Company: HBCP
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001436425-25-000018
Chunk: 61

Company: HOME BANCORP, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 61
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.21% of total loans, at March 31, 2025 compared to $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 $36.0 million, or 1.31% of total loans, at March 31, 2025 compared to $35.6 million, or 1.31% of total loans, at December 31, 2024.

•Nonperforming assets increased $5.9 million, or 37.6%, from $15.6 million, or 0.45% of total assets, at December 31, 2024 to $21.5 million, or 0.62% of total assets, at March 31, 2025. The increase in nonperforming assets was primarily due to two loan relationships, which were classified as substandard in 2024 and moved to nonaccrual status in the first quarter of 2025.

•Total deposits amounted to $2.8 billion at March 31, 2025, an increase of $46.5 million, or 1.7%, from December 31, 2024. 

•The net interest margin was 3.91% for the three months ended March 31, 2025, up 27 bps from the three months ended March 31, 2024. The increase was primarily due to increase in interest-earning assets.

•The average rate paid on total interest-bearing deposits was 2.51% for the first quarter of 2025, which was down 1 bps from the first quarter of 2024.

•Total interest expense for the first quarter of 2025 was up $227,000, or 1.5%, compared to the first quarter of 2024, primarily due to higher cost of deposits.

•Noninterest income for the first quarter of 2025 was up $460,000, or 13.0%, compared to the first quarter of 2024, primarily due to increases in gain on sale of loans (up $290,000), other income (up $97,000), and service fees and charges (up $55,000).

•Noninterest expense for the first quarter of 2025 was up $711,000, or 3.4%, compared to the first quarter