The following is a summary of the Home Bancorp, Inc. (HBCP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Home Bancorp's Q1 net income stood at $9.2 million or $1.14 per share.

• The return on assets for the bank amounted to 1.11%.

• Demonstrating a 6% annualized growth, loans increased by $40.1 million over the quarter.

• Bank deposits saw a rise of $52 million in Q1, subsequent to a $73 million increase in Q4.

• A decrease in net interest margin was recorded, dropping to 3.64%, and net interest income totalled $28.9 million in Q1.

Business Progress:

• A combination of healthy loan and deposit growth and continued expense discipline contributed to Home Bancorp's strong growth in the quarter.

• The bank's move to relocate an acquired branch and the establishment of an LPO in Houston to house the commercial team have positively influenced loan growth.

• An additional branch relocation in Houston is being planned as part of the bank's continuing market investment and activity stimulation.

• A successful quarter saw an average rate of new loan portfolio originations at 8.23%. For 2024, the bank expects a loan growth of 4% to 6%.

• Constituting a slight increase, the non-interest expense totalled $20.9 million with non-interest income remaining stable at $3.5 million in Q1.

• Home Bancorp disclosed an allowance for loan loss ratio of 1.2% and expressed confidence in their reserve levels.

More details: Home Bancorp IR

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