Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 157

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 157
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4.9 %$47,750 2.5 %Occupancy10,131 9,674 4.7 8,715 11.0 Marketing and advertising2,000 2,146 (6.8)2,263 (5.2)Data processing and communication10,241 9,372 9.3 9,307 0.7 Professional services1,922 1,690 13.7 1,740 (2.9)Forms, printing and supplies794 781 1.7 766 2.0 Franchise and shares tax1,863 1,755 6.2 2,108 (16.7)Regulatory fees1,954 2,040 (4.2)2,122 (3.9)Foreclosed assets, net341 (547)162.3 523 (204.6)Amortization of acquisition intangible1,328 1,601 (17.1)1,602 (0.1)Provision for credit losses on unfunded commitments106 501 (78.8)278 80.2 Other expenses5,279 4,895 7.8 4,735 3.4 Total noninterest expense$87,289 $82,841 5.4 %$81,909 1.1 %

2024 compared to 2023

Noninterest expense for 2024 totaled $87.3 million, up $4.4 million, or 5.4%, from 2023. 

Compensation and benefits expense for 2024 was up $2.4 million, or 4.9%, compared to 2023, primarily due to increased salaries and compensation expense.

Data processing and communication for 2024 was up $869,000, or 9.3%, compared to 2023, primarily due to increases in cost of maintenance contracts in 2024.

Occupancy expense for 2024 was up $457,000, or 4.7%, compared to 2023, primarily due to an additional leases in our  Houston market.

In 2024, the Company recorded a $341,000 expense related to foreclosed assets, compared to a $547,000 reversal in 2023,   primarily due to a $769,000 recovery of a previous loss on a fore