Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 141

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 141
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 loans and commercial and industrial loans are individually evaluated for impairment. Third party property valuations are obtained at the time of origination for real estate secured loans. When a determination is made that a loan has deteriorated to the point of becoming a problem loan, updated valuations may be ordered to help determine if there is impairment, which may lead to a recommendation for partial charge off or appropriate allowance allocation. Property valuations are ordered through, and are reviewed by, an appraisal officer at the Bank. The Bank typically orders an “as is” valuation for collateral property if a loan is in a criticized loan classification. The Board of Directors is provided with monthly reports on individually evaluated loans. 

At December 31, 2024 and 2023, loans identified as individually evaluated for expected losses were $5.0 million and $4.2 million, respectively. Due to the adoption of ASC 326, total loans identified as impaired and individually evaluated at December 31, 2024 included $1.3 million of acquired loans, of which none were acquired with deteriorated credit quality. For more information on the adoption of ASC 326, refer to Note 2 of the Consolidated Financial Statements.

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The following tables provide a summary of loans individually evaluated for expected losses as of the dates indicated.  December 31, 2024(dollars in thousands)Recorded InvestmentAllowance for Loan LossesAllowance to Total LoansLoans Individually EvaluatedOne- to four-family first mortgage$— $— — %Home equity loans and lines— — — Commercial real estate4,718 200 4.24 Construction and land— — — Multi-family residential— — — Commercial and industrial254 248 97.64 Consumer— — — Total$4,972 $448 9.01 %December 31, 2023(dollars in thousands)Recorded InvestmentAllowance for Loan LossesAllowance to Total LoansLoans Individually EvaluatedOne- to four-family first mortgage$— $— — %Home equity loans and lines— — — Commercial real estate3,957 201 5.08 Construction and land147 123 83.67 Multi-family residential— — — Commercial and industrial112 95 84.82 Consumer— — — Total$4,216