Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 127

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 127
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4, down 18 bps compared to 2023, primarily due to an increase in the average cost of interest-bearing liabilities, partially offset with an increase in the average yield earned on interest-earning assets during 2024. 

•The average rate paid on total interest-bearing deposits during 2024 was 2.66%, up 110 bps compared to 2023.

•Noninterest income decreased $11,000, or 0.1%, in 2024 compared to 2023, primarily due to a decrease in bank card fees and gain on sale of loans, which were offset by an increase in other noninterest income.

•Noninterest expense increased $4.4 million, or 5.4%, in 2024 compared to 2023 primarily due to an increase in compensation and benefits, foreclosed assets (primarily due to the absence of a $769,000 foreclosed asset recovery of a previous loss on a OREO sale that occurred during the first quarter of 2023), data processing and communications, and occupancy expenses, which were partially offset by a decrease in the provision for credit losses on unfunded commitments.  

SELECTED FINANCIAL DATA

Set forth below is selected summary historical financial and other data of the Company. When you read this summary historical financial data, it is important that you also read the historical financial statements and related notes contained in Item 8 of this Form 10-K. Taxable equivalent (“TE”) ratios have been calculated using a marginal tax rate of 21%.

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             As of December 31,(dollars in thousands)20242023202220212020Selected Financial Condition Data:Total assets$3,443,668 $3,320,122 $3,228,280 $2,938,244 $2,591,850 Cash and cash equivalents98,548 75,831 87,401 601,443 187,952 Interest-bearing deposits in banks— 99 349 349 349 Investment securities:Available for sale402,792 433,926 486,518 327,632 254,752 Held to maturity1,065 1,065 1,075 2,102 2,934 Loans receivable, net2,685,269 2,550,101 2,401,451 1,819,004 1,946,991 Intangible assets85,