Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 150

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 150
---
31, 2024. The average balance of other borrowings, which included the BTFP loan was $128.7 million during 2024, up $123.1 million from 2023.

Federal Home Loan Bank Advances

Advances from the FHLB may be obtained by the Company upon the security of the common stock it owns in the FHLB and certain real estate loans and investment securities, provided certain standards related to creditworthiness have been met. Such advances are made pursuant to several credit programs, each of which has its own interest rate and range of maturities. Advances from the FHLB may be either short-term, maturities of one year or less, or long-term, maturities in excess of one year.

The Company had $137.2 million short-term FHLB advances as of December 31, 2024, down $12.8 million, or 8.5%, compared to $150.0 million as of December 31, 2023. Long-term FHLB advances totaled $38.3 million as of December 31, 2024, down $4.4 million, or 10.3%, compared to $42.7 million as of December 31, 2023. 

Average FHLB advances were $57.0 million during 2024, down $186.6 million, or 76.6%, from 2023.

Shareholders’ Equity

Shareholders’ equity provides a source of permanent funding, allows for future growth and provides the Company with a cushion to withstand unforeseen adverse developments. At December 31, 2024, shareholders’ equity totaled $396.1 million, up $28.6 million, or 7.8%, compared to $367.4 million at December 31, 2023. The increase was primarily due to the Company’s earnings for the year ended December 31, 2024 and a reduction in accumulated other comprehensive loss, partially offset by shareholders' dividends and repurchases of shares of the Company's common stock.

RESULTS OF OPERATIONS

Net income in 2024 was $36.4 million, down $3.8 million, or 9.5%, compared to 2023. Diluted earnings per share ("EPS") for 2024 was $4.55, down $0.44, or 8.8%, from 2023. For the year ended December 31, 2024