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EX - 99.1 2 a2021qlearningsrelease.htm EX - 99.1 Home HB Bancorp , Inc. For further information contact : John W. Bordelon , Chairman of the Board , President and CEO ( 337 ) 237-1960 Release Date : April 27 , 2021 For Immediate Release HOME BANCORP , INC . ANNOUNCES 2021 FIRST QUARTER RESULTS AND INCREASES QUARTERLY DIVIDEND BY 5 % Lafayette , Louisiana – Home Bancorp , Inc. ( Nasdaq : “ HBCP ” ) ( the “ Company ” ) , the parent company for Home Bank , N.A. ( the " Bank ” ) ( www.home24bank.com ) , reported financial results for the first quarter of 2021. For the quarter , the Company reported net income of $ 11.9 million , or $ 1.41 per diluted common share ( " diluted EPS " ) , up $ 1.3 million from $ 10.6 million , or $ 1.24 diluted EPS , for the fourth quarter of 2020 . “ Our first quarter results were strong , reflecting improved credit quality , increasing gain on sale of loans due to the low interest rate environment and a reversal of loan loss provisions as a result of the improving economic outlook ” , said John W. Bordelon , Chairman , President and Chief Executive Officer of the Company and the Bank . “ We have actively participated in the second round of PPP authorized earlier this year . We originated $ 111.5 million under the second round of PPP in the quarter and assisted in the forgiveness of first round PPP loans . " " Our economy is still feeling some effects of COVID , but for the most part , a large segment of the region is very productive . The New Orleans region is still struggling to return to pre - COVID levels . Government stimulus money created a rapid rise in liquidity for our customers and the Bank . Our strong capital position enables us to support the needs of our customers as the pandemic becomes less of a threat . Our employees have remained committed to supporting customers and their communities throughout this past year and stand ready for what we expect to be a strong second half of the year . " COVID - 19 Impacts Banking operations remain unencumbered by state and local government COVID - 19 restrictions . We have continued to protect our employees and customers by working remotely , enhancing cleaning procedures , and enacting several other measures to reduce the risk of transmission of the virus . State government imposed COVID - 19 restrictions were relaxed in March 2021 within our Louisiana and Mississippi markets . Nearly all restrictions were removed in Mississippi , while Louisiana moved to Phase 3 of its reopening plan . Restrictions in Louisiana primarily include mask mandates and place capacity limits for certain businesses . During the first quarter of 2021 , the Company funded 1,451 loans totaling $ 111.5 million under the Small Business Administration's ( " SBA " ) Paycheck Protection Program ( " PPP " ) . During 2020 , the Company funded 3,072 PPP loans totaling $ 262.2 million . At March 31 , 2021 , the total recorded net investment in PPP loans was $ 235.7 million , of which 2,533 loans with an aggregate outstanding balance of $ 79.1 million were for amounts of $ 150,000 or less . To give immediate financial support to our customers , the Company began providing principal and / or interest payment deferral options in March 2020. At March 31 , 2021 , $ 27.7 million , or 1 % of total loans were under deferral agreements . The level of COVID - 19 related deferrals formerly totaled $ 558.8 million , or 28 % of total loans , at June 30 , 2020. Of the loans that have exited deferral agreements , $ 443.0 million , or 99 % , were current and performing as of March 31 , 2021 .