Company: HBCP
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001436425-25-000012
Chunk: 156

Company: HOME BANCORP, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 156
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,379 1,008 36.8 1,082 (6.8)Total noninterest income$14,625 $14,636 (0.1)%$13,885 5.4 %

2024 compared to 2023

Noninterest income for 2024 totaled $14.6 million, down $11,000, or 0.1%, compared to 2023. Income from bank card fees for 2024 was down $526,000, or 7.5%, from 2023 primarily due to decreased transaction activity by our cardholders.

Gain on sale of loans for 2024 decreased $346,000, or 42.4%, compared to 2023, primarily due to less sales of SBA loans in 2024 compared to 2023. 

Other income for 2024 increased $371,000, or 36.8%, compared to 2023 primarily due to derivative fee income and an increase in Small Business Investment Company ("SBIC") income.  

2023 compared to 2022

Noninterest income for 2023 totaled $14.6 million, up $751,000, or 5.4%, compared to 2022. Income from bank card fees for 2023 was up $772,000, or 12.3%, from 2022, primarily due to to increased transaction activity by our cardholders.

Gain on sale of loans for 2023 increased $153,000, or 23.1%, compared to 2022, primarily due to the sale of SBA loans during the third quarter of 2023, which was partially offset by lower mortgage loans held for sale due to the current rate environment.

The Company recorded a net loss of $249,000 related to the sale of investment securities during 2023. There were no gross gains or gross losses related to the sale of investment securities during 2022.

Income from bank-owned life insurance for 2023 increased $130,000 primarily due to full year of income for insurance policies purchase purchased late in the third quarter of 2022.

36

Noninterest Expense

The following table illustrates the primary components of noninterest expense for the years indicated.

(dollars in thousands)202420232024 vs 2023Percent Increase (Decrease)20222023 vs 2022Percent Increase (Decrease)Noninterest expense:Compensation and benefits$51,330 $48,933