HBCP News & Events

Reports Q4 net loan charge-offs $165,000 vs. $376,000 in the previous quarter. Reports Q4 NIM decreased 4 basis points to $4.06% from 4.10% for the Q3 primarily due to lower yield on interest-earning assets, partially offset by lower funding cost. "We are pleased with our overall fourth quarter and full year results," said John W. Bordelon, President and CEO of the Company and the Bank. "During the Q4, loan production increased and core deposits grew. Nonperforming assets increased for the quarter, but we do not anticipate any material losses. The net interest margin decreased to 4.06% for the quarter primarily due to lower loan yield and our ability to manage lower funding cost. The majority of our Certificates of Deposit will reprice within 120 days, which should continue to reduce deposit costs and have a positive impact on NIM. We remain well positioned to assist our customers with opportunities in the new year."

Reports Q3 NII $34.11M, consensus $33.33M. Q3 NIM was 4.10% vs. 4.04% in Q2. Tier 1 leverage capital ratio was 11.90% from 11.47% last quarter. Tangible book value at period end was $43.29 from $41.54 last quarter. "Our Q3 results reflect continued strength and stability of the Company," said CEO John Bordelon. "While loan production was slower during the quarter, deposit growth improved reducing our loan to deposit ratio down to our target of 91%. Financial performance remained strong with ROA of 1.41% and a six-basis point NIM expansion to 4.10% for the quarter. Credit metrics reflect an increase in nonperforming and criticized loans during the quarter, but we do not anticipate any losses. We remain focused on proactively identifying and resolving problem loans as quickly as possible."

The company announces that its Board of Directors declared a quarterly cash dividend on shares of its common stock of 31c per share, an increase of 7% from the previous quarterly cash dividend, payable on November 14 to shareholders of record as of November 3.