Home Bancorp reports Q2 EPS $1.21, consensus $1.16

The net interest margin decreased 24 basis points from 4.18% for the first quarter of 2023 to 3.94%. “Considering everything that has happened in banking during this interest rate cycle, we’re pleased with our second quarter performance,” said John Bordelon, President and CEO of the company and the Bank. “Like every other community bank, we’ve faced pressure on deposits but have so far been able to retain relationships while keeping the cost of our total deposits below 1% for the second quarter. I think this is due to the strength of our deposit franchise, which is something we were focused on even when rates were near zero. Loan growth continued in the second quarter despite the rise in interest rates as total loans increased 7% on an annualized basis. As we move forward in the second half of 2023, we remain committed to providing exceptional service to our new and existing customers as we have for the last 115 years.”