- Home Bancorp press release ( NASDAQ: HBCP ): Q2 GAAP EPS of $1.03 beats by $0.08 .
- Revenue of $32.93M (+20.2% Y/Y) beats by $2.8M .
- On June 30, 2022, the Company issued $55.0 million of its 5.75% fixed-to-floating rate subordinated notes due 2032 to certain qualified institutional buyers and institutional accredited investors.
- Net interest income totaled $29.2 million, up $5.7 million, or 24% from the prior quarter. Excluding PPP income, net interest income totaled $28.8 million, up $6.1 million, or 27% from the prior quarter.
- The net interest margin ("NIM") increased 37 basis points from 3.39% for the first quarter of 2022 to 3.76%. Excluding PPP, NIM increased 42 basis points during the second quarter of 2022 to 3.73%.
- The Company recorded a $591,000 provision to the allowance for loan losses primarily due to loan growth, which was partially offset by continued improvement in industry economic conditions, compared to a $3.2 million provision to the allowance for loan losses in the prior quarter primarily due to the acquisition of Texan Bank.
- Loan income from the recognition of deferred PPP lender fees totaled $370,000 in the second quarter, down $351,000 from the prior quarter.
- Loans totaled $2.2 billion at June 30, 2022, up $66.7 million, or 3%, from March 31, 2022. Excluding PPP loans, total organic loans were up $77.4 million, or 14% annualized, from March 31, 2022.
- PPP loans totaled $12.1 million at June 30, 2022, down $10.7 million, or 47%, from March 31, 2022.
- The allowance for loan losses totaled $26.0 million, or 1.17% of total loans, at June 30, 2022. Excluding PPP loans, the ratio of allowance for loan losses to total loans was 1.18%, at such date.
- Investment securities totaled $482.1 million at June 30, 2022, up $64.7 million or 16% from March 31, 2022.
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Home Bancorp GAAP EPS of $1.03 beats by $0.08, revenue of $32.93M beats by $2.8M