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EX - 99.1 2 a2021q3earningsrelease.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 : October 26 , 2021 For Immediate Release HOME BANCORP , INC . ANNOUNCES 2021 THIRD QUARTER RESULTS , NEW SHARE REPURCHASE PLAN 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 third quarter of 2021. For the quarter , the Company reported net income of $ 15.1 million , or $ 1.79 per diluted common share ( “ diluted EPS ” ) , up $ 3.7 million from $ 11.4 million , or $ 1.34 diluted EPS , for the second quarter of 2021 . " We are pleased to report strong earnings , stable credit quality and a reversal of loan loss provision as a result of improving economic conditions despite another surge of COVID - 19 and the impact of Hurricane Ida in our markets , " said John W. Bordelon , Chairman , President and Chief Executive Officer of the Company and the Bank . “ Total loans declined on a reported basis of 2 % from the previous quarter due to the increase level of Paycheck Protection Program ( “ PPP ” ) loans forgiven . Excluding PPP loans , total loans increased $ 58.7 million , or 14 % on an annualized basis . ” " We are committed to help one another , our customers and communities as we recover from the hurricane and COVID 19. We believe this focus will drive growth and value for our shareholders . " COVID - 19 Impacts After an increase in COVID - 19 cases during the quarter , Louisiana reinstituted its indoor mask mandate in August 2021 . Mississippi's COVID - 19 restrictions were lifted during the first quarter of 2021 . Under the Small Business Administration's ( " SBA " ) Paycheck Protection Program ( " PPP " ) , the Company funded 4,875 PPP loans totaling $ 388.7 million during 2020 and 2021 , in aggregate . At September 30 , 2021 , the total recorded net investment in PPP loans was $ 95.6 million , of which 565 loans with an aggregate outstanding balance of $ 17.9 million were for amounts of $ 150,000 or less . To give immediate financial support to customers , the Company began providing principal and / or interest payment deferral options in March 2020. At September 30 , 2021 , $ 4.5 million , or less than 1 % of total loans , were under COVID - 19 related deferral agreements . The level of COVID - 19 deferrals previously totaled $ 558.8 million , or 28 % of total loans , at June 30 , 2020. Of the loans that have exited deferral agreements , $ 384.8 million , or 99 % , were current and performing as of September 30 , 2021 . 1