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Home Bancorp Inc. (HBCP-5.88%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total assets of $3.44 billion, an increase from $3.32 billion the previous year. Loans receivable, net of allowance for loan losses, were $2.69 billion, up from $2.55 billion at the end of 2023.
Total deposits increased to $2.78 billion from $2.67 billion in 2023, with a significant rise in certificates of deposit, which totaled $733.9 million, up 13.8% from the previous year.
Net interest income for the year was $120.3 million, a slight decrease from $120.7 million in 2023, attributed to a rise in interest expenses which increased by 50.1% due to higher deposit costs.
Noninterest income remained stable at $14.6 million, with a decrease in bank card fees and gain on sale of loans offset by an increase in other income.
Noninterest expense rose by 5.4% to $87.3 million, driven by increases in compensation and benefits, data processing, and occupancy expenses.
The allowance for credit losses was $35.6 million, representing 1.31% of total loans. The provision for loan losses was $2.4 million, reflecting loan growth during the year.
Home Bancorp reported net income of $36.4 million, down from $40.2 million in 2023, with diluted earnings per share of $4.55.
The company repurchased 124,634 shares of its common stock at an average price of $37.79 per share during 2024.
Home Bancorp's capital ratios remained strong, with a Tier 1 risk-based capital ratio of 13.28% and a total risk-based capital ratio of 14.51%.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Home Bancorp Inc. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.