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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 1, 1997
HOME BANCORP
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(Exact name of registrant as specified in its charter)
Indiana 0-22376 35-1906765
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
132 East Berry Street, P.O. Box 989
Fort Wayne, Indiana 46801-0989
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(Address of principal executive offices) (Zip Code)
(219) 422-3502
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(Registrant's telephone number, including area code)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. Other Events.
Attached Press Release Relative to Home Bancorp Reporting Third-
Quarter FY 1997 Earnings Dividend Declared.
<PAGE>
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NEWS RELEASE
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Home Bancorp Date August 21, 1997
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132 EAST BERRY STREET P.O. BOX 989 Contact W. Paul Wolf
FORT WAYNE, INDIANA 46801-0989 ------------------------
PHONE: (219) 422-3502
FAX: (219) 426-7027
HOME BANCORP
Reports Third-Quarter FY 1997 Earnings
Dividend Declared
FORT WAYNE, Indiana, -- August 1, 1997 -- Home Bancorp (Nasdaq: HBFW), the
holding company for Home Loan Bank, today reported net income for its third
fiscal quarter ended June 30, 1997 of $738,000 compared to $707,000 for the same
period a year ago. The net income for the fiscal year nine months ended June 30,
1997 was $2,189,000, an increase of 9.4%, compared to $2,001,000 for prior year
like period. The nine fiscal months ended June 30 reported return on average
assets of 0.89% compared with 0.85% for the prior year like period; the return
on average equity was 6.43% compared to the prior year fiscal nine months ended
June 30, 1996 of 5.12%.
The earnings per share (EPS) of $0.31 for the June quarter and $0.90 for the
fiscal 1997 nine months represent increases of 19.2% and 32.4% respectively
versus the same periods last year EPS of $0.26 and $0.68 EPS.
The efficiency ratio of 47.54% and the G&A expenses to assets ratio of 1.41% for
fiscal year third quarter reflect Home Bancorp's commitment of controlled
operating expense growth.
The third quarter net loans increased 4.48 percent or $11.7 million, compared to
1.65 percent or $4.2 million at the prior quarter ended March 31, 1997. The June
30, 1997 net loans receivable was $272.5 million, compared with prior quarter
ended March 31, 1997 net loans of $260.8 million. The fiscal year nine months
ended June 30, 1997 net loans receivable increased by $22.6 million reflecting a
loan growth reduction of 11.0% or $2.8 million less, from the prior year nine
months like period increase of $25.4 million.
The third fiscal quarter ended June 30 provision for loan losses of $600 was
identical with the prior year charge. The Company's June 30, 1997 leading asset
quality indicator ratio of non-performing assets ($166,052) of total assets
comprised of 0.05% which compared outstandingly with the March 31, 1997 Office
of Thrift Supervision (OTS) national peer group ratio of 0.88% and its central
region of 0.58%.
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Holding Company for Home Loan Bank
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The June 30 allowance for loan losses of $1,387,389 compares with the $1,384,989
prior year allowance at June 30, 1996. There were no loan charge-offs during the
fiscal year nine months ended June 30, 1997. The reserve (Allowance for Loan
Losses) is at 836% of non-performing loans.
The Company's announced December 18, 1996 stock repurchase program, expiring
December 17, 1997, has acquired 137,500 shares of common stock at an average
price of $20.16 per share as of June 30, 1997, with remaining 127,761 shares
eligible to be repurchased. The repurchased shares will become treasury shares
available for corporate purposes.
Total assets at June 30, 1997 was a record $334.9 million compared to $322.7
million as of September 30, 1996. Net loans receivable, deposits and
shareholders' equity were $272.5 million, $287.7 million and $44.5 million
respectively at June 30, 1997 compared to $250.3 million, $271.2 million and
$46.7 million respectively at September 30, 1996. The shareholders' equity
reduction was impacted from stock repurchase programs. The June 30th book value
per common share was $17.62 as compared to $16.91 per share at September 30,
1996.
On July 15, 1997 the Board of Directors declared the sixth consecutive quarterly
cash dividend of $0.05 per share payable on September 18, 1997 to shareholders
of record on August 29, 1997.
Home Loan Bank fsb, the wholly-owned subsidiary of Home Bancorp, was established
in 1893. Home Loan Bank currently operates nine full service banking offices
serving Fort Wayne (7), Decatur (1), and New Haven (1), Indiana.
<TABLE>
<CAPTION>
Home Bancorp (Nasdaq)
Quarter June 30: 1997 1996
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<S> <C> <C>
Net Income . . . . . . . . . . . $738,000 $707,000
Share Earns: Net Income . . . . $0.31 $0.26
</TABLE>
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Holding Company for Home Loan Bank
