Exhibit 99.1

For further information contact:

John W. Bordelon, President and Chief Executive Officer

(337) 237-1960

 

Release Date:    January 25, 2011
   For Immediate Release

HOME BANCORP ANNOUNCES 2010 FOURTH QUARTER AND ANNUAL RESULTS

Lafayette, Louisiana – Home Bancorp, Inc. (Nasdaq: “HBCP”) (the “Company”), the parent company for Home Bank (www.home24bank.com), a Federally chartered savings bank headquartered in Lafayette, Louisiana (the “Bank”), announced net income of $1.5 million for the fourth quarter of 2010, an increase of $554,000, or 61%, compared to the third quarter of 2010 and an increase of $1.4 million, or 6,674%, compared to the fourth quarter of 2009. Net income for the year ended December 31, 2010 was $4.7 million, an increase of $9,000, or 0.2%, compared to 2009. Diluted earnings per share were $0.20 for the fourth quarter of 2010, an increase of 67% compared to the third quarter of 2010. Diluted earnings per share for the fourth quarter of 2009 were negligible. Diluted earnings per share were $0.62 for the year ended December 31, 2010, an increase of 7% compared to 2009.

“2010 proved to be a year of tremendous growth and opportunity for our company,” stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, “highlighted by our Northshore acquisition, the opening of our Baton Rouge headquarters and continued loan and deposit growth across each of our markets.”

“Our superior capital position and exceptional loan quality have allowed us to remain focused on doing what we do best - serving our customers,” added Mr. Bordelon. “I congratulate our team on their success in differentiating Home Bank. Their efforts yielded quality new borrowers and record core deposit growth in 2010.”

Loans and Credit Quality

As previously reported, Home Bank entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (“FDIC”) on March 12, 2010 to purchase certain assets and to assume deposits and certain other liabilities of Statewide Bank, a full service community bank formerly headquartered in Covington, Louisiana. As a result of the transaction, the Company acquired loans with contractual balances totaling $157.0 million. After fair value adjustments, the book value of the loans acquired totaled $110.4 million. Home Bank entered into loss sharing agreements with the FDIC which cover the acquired loan portfolio (“Covered Loans”) and other repossessed assets (collectively referred to as “Covered Assets”). Under the terms of the loss sharing agreements, the FDIC will absorb 80% of the first $41 million of losses incurred on Covered Assets and 95% of losses on Covered Assets exceeding $41 million. The Company distinguishes between Covered Loans and loans not covered by the loss sharing agreements (“Noncovered Loans”) due to the differing risk exposure relating to the loans.

Total loans were $439.9 million at December 31, 2010, a decrease of $6.3 million, or 1%, from September 30, 2010, and an increase of $103.3 million, or 31%, from December 31, 2009. During the fourth quarter of 2010, Noncovered Loans increased $4.6 million, while Covered Loans decreased $10.9 million. Growth in Noncovered commercial real estate (up $6.3 million during the fourth quarter) and commercial and industrial (up $5.6 million) loans was partially offset by a decrease in Noncovered 1-4 family first mortgage loans (down $6.8 million). The fourth quarter decrease in Covered Loans related primarily to 1-4 family first mortgage (down $3.3 million) and construction and land (down $2.9 million) loans due primarily to loan repayments and foreclosures.


The following information was filed by Home Bancorp, Inc. (HBCP) on Tuesday, January 25, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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