Company: HBCP
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001436425-25-000018
Chunk: 1

Company: HOME BANCORP, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 1
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 terrorism or other external events. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

EXECUTIVE OVERVIEW

The Company reported net income for the first quarter of 2025 of $11.0 million, or $1.37 diluted EPS, up $1.8 million compared to the first quarter of 2024. Net income for the first quarter of 2024 totaled $9.2 million, or $1.14 diluted EPS.

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Key components of the Company’s performance during the three months ended March 31, 2025 include:

•Assets increased $41.8 million, or 1.2%, from December 31, 2024 to $3.5 billion at March 31, 2025.

•Total loans were $2.7 billion at March 31, 2025, up $29.1 million, or 1.1%, from December 31, 2024. 

•During the three months ended March 31, 2025, the Company provisioned $394,000 to the allowance for loan losses, primarily due to loan growth. During the three months ended March 31, 2024, the Company provisioned $141,000 to the allowance for loan losses. 

•The ALL totaled $33.3 million, or 1.21% 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