Home Bancorp, Inc. (NASDAQ:HBCP) stock rose 2.34% (As on July 18, 11:37:18 AM UTC-4, Source: Google Finance) after the company posted mixed results for the second quarter of FY 23. For the quarter, the Company reported net income of $9.8 million, down $1.5 million from $11.3 million for the first quarter of 2023. Nonperforming assets (“NPAs”) totaled $12.4 million, or 0.38% of total assets, at June 30, 2023, up $1.1 million, or 10%, from $11.3 million, or 0.35% of total assets, at March 31, 2023. The net interest margin (“NIM”) decreased 24 basis points from 4.18% for the first quarter of 2023 to 3.94% for the second quarter of 2023.

Moreover, loans totaled $2.5 billion at June 30, 2023, up $44.4 million, or 2%, from March 31, 2023. Loan growth during the second quarter of 2023 was across all loan types. The loan growth was across most of our markets. Approximately 19% of the loan growth in the second quarter of 2023 was attributable to the Houston market. The Company provisioned $511,000 to the allowance for loan losses in the second quarter of 2023. At June 30, 2023, the allowance for loan losses totaled $30.6 million, or 1.22% of total loans, compared to $30.1 million, or 1.22% of total loans, at March 31, 2023. The Company’s investment securities portfolio totaled $450.5 million at June 30, 2023, a decrease of $17.1 million, or 3.7% from March 31, 2023. The Company recorded no sales of available-for-sale investment securities during the three months ended June 30, 2023. During the first quarter 2023, the Company recorded a net loss of $249,000 related to the sale of available-for-sale investment securities totaling $14.0 million. At June 30, 2023, the Company had a net unrealized loss position on its investment securities of $53.2 million, compared to a net unrealized loss of $47.1 million at March 31, 2023.  Total deposits were $2.6 billion at June 30, 2023, down $6.0 million, or less than 1%, from March 31, 2023. Non-maturity deposits decreased $98.6 million, or 5% during the second quarter of 2023 to $2.1 billion.

HBCP in the second quarter of FY 23 has reported the adjusted earnings per share of $1.21, beating the analysts’ estimates for the adjusted earnings per share of $1.16, according to analysts surveyed by Zacks Investment Research. The company had reported the adjusted revenue of $33.8 million in the second quarter of FY 23, missing the analysts’ estimates for revenue of $34.3 million.