Company: HBCP
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001436425-25-000018
Chunk: 77

Company: HOME BANCORP, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 77
---
 periods times prior year volume) and (iii) total increase (decrease).

Three Months Ended March 31,2025 Compared to 2024Change Attributable To(dollars in thousands)RateVolumeIncrease/ (Decrease)Interest income:Loans receivable$1,398 $2,067 $3,465 Investment securities75 (199)(124)Other interest-earning assets(249)(17)(266)Total interest income1,224 1,851 3,075 Interest expense:Savings, checking and money market accounts319 282 601 Certificates of deposit(741)630 (111)Other borrowings(145)(1,288)(1,433)Subordinated debt(3)3 — FHLB advances(203)1,373 1,170 Total interest expense(773)1,000 227 Increase in net interest income$1,997 $851 $2,848 

Noninterest Income

Noninterest income for the first quarter of 2025 totaled $4.0 million, up $460,000, or 13.0%, from $3.5 million earned for the same period in 2024. Noninterest income increased over the comparable periods primarily due to increases in gain on the sale of loans (up $290,000 primarily due to gain on sale of SBA loans), other income (up $97,000), and service fees and charges (up $55,000).

Noninterest Expense

Noninterest expense for the first quarter of 2025 totaled $21.6 million, up $711,000, or 3.4%, from the first quarter of 2024. Noninterest expense increased over the comparable quarters primarily due to increases in compensation and benefits (up $482,000, primarily due to increases in salaries), foreclosed assets, net (up $162,000), data processing and communication (up $128,000), and occupancy (up $107,000), which were partially offset by decreases in professional services (down $70,000) and marketing and advertising (down $37,000).

Income Taxes

Income tax expense for the three months ended March 31, 2025 totaled $2.8 million  compared to $2.2 million for the three months ended March 31, 2024. Income tax expense increased over the prior comparable quarter primarily due to increased taxable earnings.