Lafayette-based Home Bancorp Inc.'s third-quarter profit slipped to $4.1 million, or 56 cents per share, from $4.4 million, or 61 cents per share, a year ago.
Home's results fell short of Wall Street's expectations. Stock analysts surveyed by Zacks Investment Research had forecast earnings of 63 cents per share.
Although interest and noninterest income increased, Home's noninterest expenses jumped 7 percent to $11.3 million. The total included $247,000 in expenses related to the acquisition of St. Martin Bancshares. Home also wrote off $246,000 in loans during the third quarter. A year earlier, net loan charge offs totaled $54,000.
The parent company of Lafayette-based Home Bank will acquire the parent of St. Martinville-b…
Home is acquiring St. Martin in a $96.1 million stock-and-cash deal, which is expected to close during the fourth quarter of this year or the first quarter of 2018. The deal, when completed, will give Home total assets of about $2.2 billion, $1.7 billion in loans and $1.8 billion in deposits.