The profits of Home Bancorp Inc., the Lafayette parent of Home Bank, dropped 18% during fourth quarter 2019. 

Home Bancorp Inc., the Lafayette parent of Home Bank, said its net income fell during the third quarter.

The company posted net income of $6.9 million, or 75 cents per diluted share, for the three month period ending Sept. 30. During the same period one year earlier, Home Bank recorded net income of $8.3 million, or 89 cents per diluted share.

Revenue for the bank, known as interest income, was down $680,000 before taxes due to a write-off for the company's FDIC loss sharing indemnification receivable. The FDIC agreement expires in March 2020.

The company also had $287,000 in expenses related to the departure of a former executive. In late July, Scott Ridley, chief banking officer at the financial institution was terminated. 

The bank's total deposits topped $1.8 billion at the close of the third quarter, an increase of 3% from the same quarter one year earlier.

Home Bancorp shares have risen 10% since the beginning of the year. The stock has dropped roughly 1% in the last 12 months.

Shares of Home Bancorp were down by 14 cents, or .4%, to close at $38.97.

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