Home Bancorp reported third quarter 2026 net income of $10.1 million, a decrease from the prior quarter driven by credit-related interest reversals and deposit pricing pressure. While net interest income remained resilient at $35.9 million, the company saw a significant uptick in nonperforming assets due to specific loan relationships moving to nonaccrual status.
Key Highlights
- Nonperforming assets jumped 37% sequentially to $53.7 million, primarily due to six loan relationships totaling $19.5 million placed on nonaccrual status.
- Net interest margin (NIM) compressed 5 basis points to 4.19%, impacted by $862,000 in interest income reversals related to nonperforming loans.
- Efficiency remains a challenge as noninterest expense rose 7% to $26.3 million, largely due to a $1.7 million increase in foreclosed asset costs.
- Long-time CEO John W. Bordelon announced his retirement effective January 8, 2027, with President Darren E. Guidry named as his successor.