Home Bancorp Q3 net income, EPS fall from prior quarter on deposit pricing pressure
HBCP•Home Bancorp reported Q3 net income of $10.10 million and EPS of $1.28, both down from the prior quarter, while net interest income was essentially stable at $35.90 million. Its net interest margin was 4.19%.
1. Quarterly results
Home Bancorp's Q3 net income and EPS declined from the prior quarter as continued deposit pricing pressure weighed on net interest margin and earnings. Net interest income remained essentially stable at $35.90 million, while net interest margin was 4.19%.
2. Credit and outlook
Nonperforming assets rose after six loan relationships moved to nonaccrual status. The company said active balance sheet management partially offset credit issues and higher funding costs, and that it does not anticipate sizable losses from the recently identified credit issues. It remains focused on protecting capital and preserving liquidity.
