Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 149

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 149
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 the dates indicated.

December 31,(dollars in thousands)2024202320223 months or less$134,885 $46,372 $19,826 3 - 6 months45,424 33,421 13,646 6 - 12 months38,623 89,262 26,620 12 - 36 months8,538 20,366 8,040 More than 36 months922 1,312 1,310 Total certificates of deposit greater than $250,000$228,392 $190,733 $69,442 

Subordinated Debt

On June 30, 2022, the Company issued $55.0 million in aggregate principal amount of its 5.75% Fixed-to-Floating Rate Subordinated Notes due 2032 (the "Notes"). The Notes were issued at a price equal to 100% of the aggregate principal amount. The Notes have a stated maturity date of June 30, 2032 and bear interest at a fixed rate of 5.75% per year from and including the issue date to but excluding June 30, 2027. From June 30, 2027, the Notes bear interest at a floating rate equal to the then current three-month term secured overnight financing rate (“SOFR”), plus 282 basis points. The Notes may be 

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redeemed by the Company, in whole or in part, on or after June 30, 2027. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. 

The carrying value of subordinated debt was $54.5 million  and $54.2 million at December 31, 2024 and December 31, 2023, respectively. The subordinated debt was recorded net of issuance costs, which is being amortized using the straight-line method over five years.

Other Borrowings

On March 12, 2023, the Federal Reserve Board created the Bank Term Funding Program ("BTFP"), which offers loans to banks with a term up to one year with no prepayment penalty. The loans are secured by pledging qualifying securities and are valued at par for collateral purposes. At December 31, 2024 and 2023, the Bank pledged securities with a collateral value of $0 and $103.4 million, respectively. The Bank participated in the BTFP during 2024 and paid off the loan before December