The following is a summary of the Home Bancorp, Inc. (HBCP) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Home Bancorp reported a net income of $8.1 million, or $1.02 per share for Q2 2024.

• Net Interest Margin (NIM) slightly improved by 2 basis points from the previous quarter, stabilizing at 3.66%.

• Net interest income reached $29.4 million, an increase of $492,000 from the previous quarter.

• Loan growth was reported at a 6% annualized pace, with new loans coming in at a rate of 8.25%.

• The loan-to-deposit ratio increased to 97.7%, with deposits remaining stable quarter-over-quarter.

Business Progress:

• Home Bancorp achieved strong loan growth across most sectors and added $39.7 million in loans during the quarter.

• There was notable core deposit growth of $12.6 million in the Houston market.

• A significant recovery was seen in their credit improvements, with $5 million and $3.4 million loans going from non-performing to performing.

• Key personnel changes include the welcoming of Mark Herpin as Senior Executive Vice President and Chief Operations Officer, and promotions of Natalie Lemoine and John Zollinger.

Opportunities:

• The expectation of a continued increase in asset yields and a stable cost of funds suggests potential for further growth in net interest income and improving margins.

• Anticipated Fed rate cuts could reinvigorate loan demand, benefiting the bank's lending operations.

Risks:

• The bank notes potential risks in the loan pipeline due to the duration of higher rates, which may slow down future loan growth unless mitigated by expected rate cuts.

More details: Home Bancorp IR

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