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John W. Bordelon, President and CEO
|Release Date:||January 29, 2013|
|For Immediate Release|
HOME BANCORP ANNOUNCES 2012 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 $2.3 million for the fourth quarter of 2012, a decrease of $728,000, or 24%, compared to the third quarter of 2012 and an increase of $190,000, or 9%, compared to the fourth quarter of 2011. Diluted earnings per share were $0.33 for the fourth quarter of 2012, a decrease of $0.09, or 21%, compared to the third quarter of 2012 and an increase of $0.03, or 10%, compared to the fourth quarter of 2011.
Net income for the year ended December 31, 2012 was $9.2 million, an increase of $4.1 million, or 79%, compared to 2011. Diluted earnings per share for 2012 were $1.28, an increase of 80% compared to $0.71 in 2011. Excluding merger-related expenses of $2.1 million (pre-tax) incurred in 2011 due to the acquisition of GS Financial Corp. (GSFC), net income increased $2.7 million, or 42%, compared to 2011. Excluding merger-related expenses, diluted earnings per share increased $0.38, or 42%, compared 2011.
In our first year without an acquisition since 2009, we focused our attention on enhancing our customers experience and improving internal processes stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank. Were pleased with the progress we made in 2012, and expect to build on our momentum in 2013.
Although we continue to face the challenges posed by the national economy, as well as other industry-wide factors which are not fully within our control, we greet 2013 with optimism, added Mr. Bordelon, largely because, through their experience and hard work, the people and businesses of South Louisiana continue to press forward.
Loans and Credit Quality
Loans totaled $673.1 million at December 31, 2012, an increase of $2.5 million, or 0.4%, from September 30, 2012, and an increase of $6.8 million, or 1%, from December 31, 2011. During the fourth quarter, increases in construction and land (up $12.2 million), one-to four-family first mortgage (up $3.1 million), commercial and industrial (up $1.5 million), and consumer (up $1.0 million) loan portfolios were largely offset by maturities and paydowns in the commercial real estate loan portfolio (down $15.9 million).
The following information was filed by Home Bancorp, Inc. (HBCP) on Wednesday, January 30, 2013 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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