Profile: Home Bancorp Inc (HBCP.O)
17 Apr 2015
Home Bancorp, Inc., incorporated on May 1, 2008, is a holding company for Home Bank (the Bank). The Bank is a federally chartered community-oriented savings bank. The Bank conducts business through 22 banking offices in the Greater Lafayette, Baton Rouge, Greater New Orleans and Northshore (of Lake Ponchartrain) regions of south Louisiana. The Bank is primarily engaged in attracting deposits from the general public and using those funds to invest in loans and securities. Its principal sources of funds are customer deposits, repayments of loans, repayments of investments and funds borrowed from outside sources, such as the Federal Home Loan Bank (FHLB) of Dallas. These funds are primarily used for the origination of loans, including one-to-four-family first mortgage loans, home equity loans and lines, commercial real estate loans, construction and land loans, multi-family residential loans, commercial and industrial loans and consumer loans.
The Company’s lending activities include loans secured by commercial real estate and commercial and industrial loans. As of December 31, 2013, the largest outstanding balances of the Bank’s commercial real estate loans and commercial and industrial loans were $9.4 million and $3.0 million, respectively. In addition to commercial real estate and commercial and industrial loans, the Bank holds a portfolio of construction and land loans. As of December 31, 2013, the Bank’s construction and land loans amounted to $83.3 million, or 11.8% of its loan portfolio.
As of December 31, 2013, the Bank’s portfolio of investments included the United States agency mortgage-backed, Non-United States agency mortgage-backed, Municipal bonds and the United States Government agency. The Company holds no Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) preferred stock, equity securities, corporate bonds, trust preferred securities, hedge fund investments, collateralized debt obligations and structured investment vehicles. The Company maintains a portfolio of non-agency mortgage-backed securities, which had an amortized cost of $9.8 million as of December 31, 2013. The portfolio consists of 14 securities with a net unrealized loss of $16,000 as of December 31, 2013.
Sources of Funds
Deposits, loan repayments and prepayments, proceeds from investment securities sales, calls, maturities and paydowns, cash flows generated from operations and FHLB advances are the Company’s primary, ongoing sources of funds for use in lending, investing and for other general purposes. The Company offers a variety of deposit accounts with a range of interest rates and terms. Its deposits consist of checking, both interest-bearing and noninterest-bearing, money market, savings and certificate of deposit accounts. Total deposits were $741.3 million as of December 31, 2013.
Home Bancorp Inc
503 Kaliste Saloom Road
LAFAYETTE LA 70598