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EX - 99.1 2 a2021q2earningsrelease.htm EX - 99.1 Home Bancorp , Inc. For further information contact : John W. Bordelon , Chairman of the Board , President and CEO ( 337 ) 237-1960 Release Date : July 27 , 2021 For Immediate Release HOME BANCORP , INC . ANNOUNCES 2021 SECOND QUARTER RESULTS AND DECLARES QUARTERLY DIVIDEND - 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 second quarter of 2021. For the quarter , the Company reported net income of $ 11.4 million , or $ 1.34 per diluted common share ( " diluted EPS " ) , down $ 532,000 from $ 11.9 million , or $ 1.41 diluted EPS , for the first quarter of 2021 . " The credit quality of our loan portfolio and the economic conditions within our markets continued to strengthen through the second quarter of 2021 ” , said John W. Bordelon , Chairman , President and Chief Executive Officer of the Company and the Bank . " Since December 31 , 2020 , our nonperforming assets have declined $ 4.9 million , loans granted relief related to COVID - 19 have fallen to less than 1 % of total loans , and we have reversed $ 5.1 million of the allowance for loan losses . " " Increased liquidity for our customers due to government stimulus has contributed to the improvement in credit quality , but it has also limited loan growth during the quarter . Despite this challenge , our disciplined lending practices and strong capital levels keep us well positioned to take advantage of a rapidly growing economy . Our employees have done a tremendous job of supporting our customers and their communities and , as a result , we are optimistic about the second half 2021. " COVID - 19 Impacts Nearly all COVID - 19 related restrictions were removed in Mississippi during the first quarter of 2021 , while Louisiana lifted its mask mandate in April 2021 and ended capacity limits in May 2021 . Under the Small Business Administration's ( " SBA " ) Paycheck Protection Program ( " PPP " ) , the Company funded 3,072 PPP loans totaling $ 262.2 million during 2020. During the first six months of 2021 , the Company funded an additional 1,803 PPP loans totaling $ 126.5 million . At June 30 , 2021 , the total recorded net investment in PPP loans was $ 197.6 million , of which 2,209 loans with an aggregate outstanding balance of $ 64.1 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 June 30 , 2021 , $ 7.0 million , or less than 1 % of total loans , were under deferral agreements . The level of COVID - 19 related deferrals previously totaled $ 558.8 million , or 28 % of total loans , at June 30 , 2020. Of the loans that have exited deferral agreements , $ 443.7 million , or 99 % , were current and performing as of June 30 , 2021 . 1