Lafayette-based Home Bancorp Inc. reported its fourth-quarter profit jumped to $2.8 million, or 40 cents per share, compared to $1.7 million, or 25 cents per share, a year ago.
The fourth-quarter results include $307,000 of pre-tax expenses related to the acquisition of Britton & Koontz Bank in February.
For the year, Home reported record earnings of $9.9 million, or $1.42 per share, compared to $7.3 million, or $1.06 per share, for 2013.
Despite the record results, Home’s earnings fell short of stock analysts’ forecasts. Analysts surveyed by Zacks Investment Research projected a 2014 profit of $1.45 per share and a fourth-quarter profit of 43 cents per share.
“While falling prices are likely to dampen expansion in the energy industry, we remain bullish on the growth prospects for many of our markets,” said John W. Bordelon, president and chief executive officer,
Home Bancorp is the parent company of Home Bank, a federally chartered savings and loan.
Home Bancorp had $28.5 million in nonperforming assets, which include loans 90 days or more past due and foreclosed properties, as of Dec. 31. A year ago, the company had $29.3 million in nonperforming assets. However, $22.8 million of the total were related to the acquisitions of Statewide Bank, GS Financial Corp. and Britton & Koontz. The ratio of total NPAs to total assets was 2.33 percent on Dec. 31, compared to 2.98 percent a year ago.
Home Bancorp wrote off $175,000 in bad loans during the fourth quarter.