Q3 2024 Home Bancorp Inc Earnings Call Transcript
Key Points
- Home Bancorp Inc (HBCP) reported a net income of $9.4 million or $1.18 per share, showing improvement from the previous quarter.
- Net interest margin expanded by five basis points to 3.71%, indicating better profitability.
- Deposits increased by $55 million or 8% annualized, primarily from money market and interest-bearing checking accounts.
- The company has a strong capital management strategy, having increased dividends per share by 20% and repurchased 14% of shares over the last five years.
- Home Bancorp Inc (HBCP) has maintained robust capital ratios, positioning itself well for varying economic environments.
- Loan growth slowed in the third quarter, impacted by the paydown of a $19 million medical C&I loan.
- Nonperforming loans increased by $1.3 million to $18.1 million, representing 0.68% of total loans.
- Loan demand is expected to finish at the lower end of the 4% to 6% guidance for 2024 due to sustained higher rates.
- Noninterest income decreased slightly to $3.7 million, with expectations to remain between $3.6 million and $3.8 million over the next two quarters.
- The company faces challenges in predicting deposit behavior with rate cuts, which could impact net interest income.
Good morning, ladies and gentlemen and welcome to the Home Bancorp's third-quarter 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Home Bancorp's Chairman, President and CEO, John Bordelon; and Chief Financial Officer, David Kirkley. Mr. Kirkley, please go ahead.
Thank you, Eric. Good morning and welcome to Home Bank's third-quarter, 2024 earnings call. Our earnings release and investor presentation are available on our website. I'd ask that everyone please refer to the disclaimer regarding forward-looking statements and investor presentation and our sec filings.
Now, I'll hand it over to John to make a few comments about the third quarter. John?
Thank you, David. Good morning and thank you for
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