Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 3

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 3
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 to address this critical audit matter included:

•We evaluated the design and tested the operating effectiveness of key controls relating to the Company’s ALL calculation, including controls over the segmentation of the loan portfolio, the completeness and accuracy of data used in the calculation, the periods and assumptions used in the calculation, the 

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determination of qualitative factors including reasonable and supportable forecasts, and the precision of management’s review and approval of the calculation and resulting estimate.

•We tested the Company’s ALL calculation for computational accuracy.

•We tested the completeness and accuracy of the information used by management to calculate general reserves, including evaluating the relevance and reliability of such information.

•We evaluated management’s judgments and assumptions used in the development of the qualitative factor adjustments, including reasonable and supportable forecasts, for reasonableness, and tested the reliability of the underlying data on which these factors are based, by comparing information to source documents and external information sources.

•We analyzed the qualitative factor adjustments in comparison to observable data utilized by management and to historical periods to evaluate the directional consistency in relation to the Company’s loan portfolio and local economy.

•We evaluated the completeness and accuracy of disclosures made within the consolidated financial statements with regards to the ALL.

We have served as the Company’s auditor since 2009.

Atlanta, GeorgiaMarch 12, 2025

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HOME BANCORP, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITIONDecember 31,(dollars in thousands)20242023AssetsCash and cash equivalents$98,548 $75,831 Interest-bearing deposits in banks— 99 Investment securities available for sale, at fair value (amortized cost $443,804 and $477,357, respectively)402,792 433,926 Investment securities held to maturity (fair values of $1,065 and $1,066, respectively)1,065 1,065 Mortgage loans held for sale832 361 Loans, net of unearned income2,718,185 2,581,638 Allowance for loan losses(32,916)(31,537)Total loans, net of unearned income and allowance for loan losses2,685,269 2,550,101 Office properties and equipment, net42,324 41,980 Cash surrender value of bank-owned life insurance48,421 47,321 Goodwill and core deposit intangibles85,044 86,