Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 74

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 74
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 — Derivative liabilities(1)3 3 — 3 — 

(1)Derivative assets and liabilities are reported at fair value in accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively, in the Consolidated Statements of Financial Condition. 

23. Condensed Parent Company Only Financial Statements

Condensed financial statements of Home Bancorp, Inc. (parent company only) are shown below. The parent company has no significant operating activities.Condensed Balance SheetsFor the Years Ended December 31, 2024 and 2023(dollars in thousands)20242023AssetsCash in bank$5,295 $6,584 Investment in subsidiary435,839 406,929 Other assets9,488 8,207 Total assets$450,622 $421,720 LiabilitiesSubordinated debt, net of issuance cost$54,459 $54,241 Other liabilities75 35 Total liabilities$54,534 $54,276 Shareholders’ equity396,088 367,444 Total liabilities and shareholders’ equity$450,622 $421,720 

90

Condensed Statements of IncomeFor the Years Ended December 31, 2024, 2023 and 2022(dollars in thousands)202420232022Operating incomeDividend from subsidiary$13,000 $15,000 $74,576 Total operating income13,000 15,000 74,576 Operating expensesOther expenses369 340 289 Total operating expenses369 340 289 Interest expenseSubordinated debt expense3,381 3,390 1,710 Total interest expense3,381 3,390 1,710 Income before income tax benefit and equity in undistributed earnings of subsidiary9,250 11,270 72,577 Income tax benefit788 783 420 Income before equity in undistributed earnings of subsidiary10,038 12,053 72,997 Undistributed earnings of subsidiary26,389 28,187 (38,925)Net income$36,427 $40,240 $34,072 Condensed Statements of Cash FlowsFor the Years Ended December 31, 2024, 2023 and 2022 (dollars in thousands)202420232022Cash flows from operating activitiesNet