{"id":518006,"date":"2021-07-27T07:33:38","date_gmt":"2021-07-27T11:33:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/home-bancorp-inc-announces-2021-second-quarter-results-and-declares-quarterly-dividend\/"},"modified":"2021-07-27T07:33:38","modified_gmt":"2021-07-27T11:33:38","slug":"home-bancorp-inc-announces-2021-second-quarter-results-and-declares-quarterly-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/home-bancorp-inc-announces-2021-second-quarter-results-and-declares-quarterly-dividend\/","title":{"rendered":"Home Bancorp, Inc. Announces 2021 Second Quarter Results And Declares Quarterly Dividend"},"content":{"rendered":"
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\n LAFAYETTE, La.<\/span>, July 27, 2021<\/span> \/PRNewswire\/ —\u00a0Home Bancorp, Inc. (Nasdaq: “HBCP”) (the “Company”), the parent company for Home Bank, N.A. (the “Bank”) (www.home24bank.com<\/a><\/u>), reported financial results for the second quarter of 2021.\u00a0 For the quarter, the Company reported net income of $11.4 million<\/span>, or $1.34<\/span> per diluted common share (“diluted EPS”), down $532,000<\/span> from $11.9 million<\/span>, or $1.41<\/span> diluted EPS, for the first quarter of 2021. <\/p>\n

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“The credit quality of our loan portfolio and the economic conditions within our markets continued to strengthen through the second quarter of 2021,” said John W. Bordelon<\/span>, Chairman, President and Chief Executive Officer of the Company and the Bank.\u00a0 “Since December 31, 2020<\/span>, our nonperforming assets have declined $4.9 million<\/span>, loans granted relief related to COVID-19 have fallen to less than 1% of total loans, and we have reversed $5.1 million<\/span> of the allowance for loan losses.”<\/p>\n

“Increased liquidity for our customers due to government stimulus has contributed to the improvement in credit quality, but it has also limited loan growth during the quarter. Despite this challenge, our disciplined lending practices and strong capital levels keep us well positioned to take advantage of a rapidly growing economy. Our employees have done a tremendous job of supporting our customers and their communities and, as a result, we are optimistic about the second half 2021.”<\/p>\n

\n COVID-19 Impacts<\/b>\n <\/p>\n

Nearly all COVID-19 related restrictions were removed in Mississippi<\/span> during the first quarter of 2021, while Louisiana<\/span> lifted its mask mandate in April 2021<\/span> and ended capacity limits in May 2021<\/span>.<\/p>\n

Under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”), the Company funded 3,072 PPP loans totaling $262.2 million<\/span> during 2020. During the first six months of 2021, the Company funded an additional 1,803 PPP loans totaling $126.5 million<\/span>. At June\u00a030, 2021, the total recorded net investment in PPP loans was $197.6 million<\/span>, of which 2,209 loans with an aggregate outstanding balance of $64.1 million<\/span> were for amounts of $150,000<\/span> or less.<\/p>\n

To give immediate financial support to our customers, the Company began providing principal and\/or interest payment deferral options in March 2020<\/span>. At June\u00a030, 2021,\u00a0 $7.0 million<\/span>, or less than 1% of total loans, were under deferral agreements. The level of COVID-19 related deferrals previously totaled $558.8 million<\/span>, or 28% of total loans, at June 30, 2020<\/span>. Of the loans that have exited deferral agreements, $443.7 million<\/span>, or 99%, were current and performing as of June\u00a030, 2021.<\/p>\n

\n Second Quarter 2021 Highlights<\/b>\n <\/p>\n