Home Bancorp, Inc. (NASDAQ:HBCP) Q3 2024 Earnings Conference Call October 18, 2024 11:30 AM ET
Company Participants
John Bordelon – Chairman, President and CEO
David Kirkley – CFO
Conference Call Participants
Feddie Strickland – Hovde Group
Joseph Yanchunis – Raymond James
Operator
Good morning, ladies and gentlemen, and welcome to the Home Bancorp Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.
I’d now like to turn the conference over to Home Bancorp’s Chairman, President and CEO, John Bordelon; and Chief Financial Officer, David Kirkley. Mr. Kirkley, please go ahead.
David Kirkley
Thank you, Eric. Good morning, and welcome to Home Bank’s third quarter 2024 earnings call. Our earnings release and investor presentation are available on our website. I’d ask that everyone please refer to the disclaimer regarding forward-looking statements in the investor presentation and our SEC filings.
Now I’ll hand it over to John, to make a few comments about the third quarter. John?
John Bordelon
Thank you, David. Good morning, and thank you for joining our earnings call today. We appreciate your interest in Home Bank as we discuss our results, expectations for the future, and our approach to creating long-term shareholder value.
We reported third quarter net income of $9.4 million, or $1.18 per share, which was a nice improvement from last quarter’s strong results. Net interest margin continued to expand, increasing five basis points to 3.71%. We’re optimistic that the trend will continue, as the Fed rate cuts reduced pressure on our cost of funds.
Return on assets also increase and was 1.1% in the third quarter, up 13 basis points from the second quarter. Loan growth slowed in the third quarter, and was impacted by
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