Home Bancorp(HBCP) - 2025 Q1 - Quarterly Report

Financial Performance - Net income for the three months ended March 31, 2025, was $10,964 thousand, up 19.2% from$ 9,199 thousand for the same period in 2024[12]. - Earnings per share (EPS) increased to $1.38 for the three months ended March 31, 2025, compared to$ 1.15 for the same period in 2024, representing a growth of 20%[12]. - Noninterest income for the three months ended March 31, 2025, was $4,009 thousand, a 13% increase from$ 3,549 thousand in the same period of 2024[12]. - Comprehensive income for the three months ended March 31, 2025, was $15,861 thousand, significantly higher than$ 7,080 thousand for the same period in 2024[14]. - Net cash provided by operating activities increased to $12,576,000, up from$ 10,323,000, reflecting a growth of 12.1% year-over-year[19]. Asset Growth - Total assets increased to $3,485,453 thousand as of March 31, 2025, compared to$ 3,443,668 thousand at December 31, 2024, reflecting a growth of 1.2%[10]. - Total loans, net of unearned income and allowance for loan losses, rose to $2,713,999 thousand as of March 31, 2025, from$ 2,685,269 thousand at December 31, 2024, an increase of 1.1%[10]. - Total deposits increased to $2,827,207 thousand as of March 31, 2025, from$ 2,780,696 thousand at December 31, 2024, marking a growth of 1.7%[10]. - Cash and cash equivalents at the end of the period were $110,662,000, up from$ 90,475,000 at the end of the same period last year[19]. Loan Portfolio - Total loans as of March 31, 2025, amounted to $2,747,277,000, an increase from$ 2,718,185,000 as of December 31, 2024, indicating a growth of 1.07%[41]. - The commercial real estate loans totaled $1,193,364,000 as of March 31, 2025, up from$ 1,158,781,000 at the end of 2024, indicating an increase of approximately 2.98%[45]. - One- to four-family first mortgage loans stood at $504,356,000 as of March 31, 2025, showing a slight increase from$ 501,225,000 at the end of 2024[45]. - The consumer loans increased to $29,998,000 as of March 31, 2025, from$ 29,624,000 at the end of 2024, representing a growth of about 1.26%[45]. Loan Loss Provisions - The provision for loan losses was $394 thousand for the three months ended March 31, 2025, compared to$ 141 thousand for the same period in 2024, indicating a significant increase in provisioning[12]. - The allowance for loan losses stood at $33,278 thousand as of March 31, 2025, compared to$ 32,916 thousand at December 31, 2024, indicating a slight increase[10]. - The allowance for credit losses (ACL) totaled $35,978,000 as of March 31, 2025, which includes$ 33,278,000 for loan losses and $2,700,000 for unfunded lending commitments[44]. - The provision for credit losses for the three months ended March 31, 2025, was$ (226,000), while recoveries amounted to $194,000, leading to an ending balance of$ 35,978,000[48]. Dividend and Shareholder Returns - Cash dividends declared per common share increased to $0.27 for the three months ended March 31, 2025, compared to$ 0.25 for the same period in 2024, reflecting an 8% increase[12]. - The company paid $2,186,000 in dividends to shareholders, compared to$ 2,038,000 in the previous year[19]. Investment Securities - Total available for sale investment securities decreased in fair value to $400,553,000 as of March 31, 2025, from$ 402,792,000 at December 31, 2024[30]. - The effective duration of the company's investment securities portfolio was 3.7 years as of March 31, 2025, compared to 3.9 years at December 31, 2024[30]. - The total amortized cost of the Company's held-to-maturity securities was $1,065,000, with no ACL required as of March 31, 2025[35]. Derivative Instruments - The Company estimates that an additional$ 1,607,000 will be reclassified as interest expense over the next twelve months due to cash flow hedges[78]. - Accumulated unrealized gains on derivative instruments decreased from $2,418,000 to$ 1,775,000, a decline of 26.6%[83]. - The fair value of interest rate swaps designated as cash flow hedges was $2,411,000 as of March 31, 2025, down from$ 3,241,000 on December 31, 2024[81]. Nonperforming Loans - Nonaccrual loans totaled $18,970,000 as of March 31, 2025, compared to$ 13,582,000 as of December 31, 2024, indicating an increase of 39.5%[59]. - Total past due loans reached $24,474,000 as of March 31, 2025, up from$ 20,601,000 as of December 31, 2024, representing a 19.5% increase[56]. - The company reported $77,000 in loans greater than 90 days past due as of March 31, 2025, compared to$ 16,000 as of December 31, 2024[58].