The acquisition of Louisiana Bancorp Inc. helped boost Lafayette-based Home Bancorp Inc.’s fourth-quarter profit to $4 million, or 56 cents per share, compared to $2.8 million, or 40 cents per share, a year ago.
For the year, Home Bancorp turned a record profit of $12.6 million, or $1.79 per share, compared to $9.9 million, or $1.42 a share, in 2014.
President and Chief Executive Officer John W. Bordelon described 2015 as “another amazing year of growth.”
“Although fears over energy prices dominated the headlines in 2015, we had a successful year reducing our nonperforming assets,” Bordelon said.
Nonperforming loans are those where borrowers haven’t made a payment in at least 90 days. Home Bancorp reduced these assets to $15.9 million as of Dec. 31, down $4.9 million from the year before.
The balance of loans to companies in the energy sector totaled $35.4 million, or 2.9 percent of the outstanding loan portfolio as of Dec. 31. In addition, energy companies can draw up to $8.9 million under contracts with Home Bancorp.
The company increased the amount set aside for loan losses by $873,000 during the year to $9.5 million. The bank holding company’s total loans amounted to more than $1.2 billion.