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): April 22, 1998
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)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. Other Events.
Attached Press Release Relative to Home Bancorp Reports Second Quarter
Fiscal Year 1998 Earnings Quarterly Dividend Declared
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HOME BANCORP
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(Registrant)
/s/W. Paul Wolf
Date: April 22, 1998 ---------------
W. Paul Wolf
Chairman, President, CEO
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NEWS RELEASE
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Home Bancorp
132 EAST BERRY STREET o P.O. BOX 989 Date April 22, 1998
FORT WAYNE, INDIANA 46801-0989 ------------------------
PHONE: (219) 422-3502 Contact W. Paul Wolf
FAX: (219) 426-7027 ------------------------
HOME BANCORP
Reports Second Quarter Fiscal Year 1998 Earnings
Quarterly Dividend Declared
FORT WAYNE, Indiana, -- April 22, 1998 -- Home Bancorp (Nasdaq: HBFW) today
reported second quarter fiscal year 1998 earnings and financial results, ended
March 31, 1998. Net income for the second quarter 1998 was $839,000 ($0.38 basic
earnings per share) compared to $800,000 ($0.33 basic earnings per share) for
the same period a year earlier, a dollar increase of 4.88%, or a 15.2% increase
in earnings per share. The three months earnings represent an annualized return
on average assets (ROA) of 0.96% and a return on average equity (ROE) of 7.09%.
Net income for the six months ended March 31, 1998 increased 3.65% to $1,504,000
($0.68 basic earnings per share) from $1,451,000 ($0.59 basic earnings per
share) for the same period in 1997, an increase of 15.3% in earnings per share.
For the six month period ended March 31, 1998, earnings represent an annualized
average ROA of 0.86% and a ROE of 7.01%.
Total assets of the Corporation at March 31, 1998 were $353.4 million, an
increase of $25.6 million, or 7.81%, from $327.8 million at March 31, 1997. At
March 31, 1998, net loans receivable were $306.0 million, an increase of $45.2
million, or 17.33%, during the twelve month period. For the same period from
March 31, 1997 to March 31, 1998, deposits increased from $278.8 million to
$303.6 million, or an increase of $24.8 million or 8.90%. Shareholder equity at
March 31, 1998 was $42.5 million, or 12.03% expressed as a percentage of assets.
W. Paul Wolf, Chairman and Chief Executive Officer, attributed the improved
earnings and continued growth of the Corporation on the concentrated efforts of
Home Loan Bank, its wholly-owned subsidiary, in fulfilling its role as a
community bank. "As the only locally based bank in Fort Wayne, we strive to be
the lender of first choice for residential mortgages and the best choice for
savings and checking. The Corporation has been successful in growing our asset
base while improving yields on those interest-earning assets without
significantly raising operating expenses in the process."
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The increase in the earnings per shares reflects the Corporation's focus on
improving shareholder value through improved earnings and controlled repurchase
of outstanding shares. Stock when repurchased by the Corporation is held as
treasury stock to be used for general corporate purposes. During the three month
period ended March 31, 1998 the Corporation repurchased a total of 35,800
shares, and a total of 127,942 shares during the six month period ended March
31, 1998.
For the period ended March 31, 1998, the Corporation's non-performing loans to
assets ratio was a very modest .09%. There were no loan charge-offs for the
period, or year-to-date in fiscal 1998. The Corporation's allowance for loan
losses as of March 31, 1998 totaled $1.4 million.
The book value of Home Bancorp stock was $18.04 as of March 31, 1998 compared to
$17.43 as of March 31, 1997.
For the three months ended March 31, 1998, the stock traded in a range of $28.50
to $37.88 and closed at $33.56.
The Board of Directors on April 21, 1998 declared the ninth consecutive
quarterly cash dividend of $0.05 per share payable May 15, 1998 to shareholders
of record on April 30, 1998. The dividend indicates an annual rate of $0.20 per
share.
Home Loan Bank fsb, the wholly-owned subsidiary of Home Bancorp, was established
in 1893. Home Loan Bank fsb currently operates nine full service offices serving
Fort Wayne (7), Decatur (1), and New Haven (1). Deposits are insured by the
Federal Deposit Insurance Corporation.
Home Bancorp (Nasdaq)
3 Months March 31: 1998 1997
Net Income.......................... $ 839,000 $ 800,000
Basic Share Earns: Net Income.. .38 .33
6 Months March 31:
Net Income........................... $1,504,000 $1,451,000
Basic Share Earns: Net Income.. .68 .59
SOURCE Home Bancorp
-0- 04/22/98
/CONTACT: W. Paul Wolf, Chairman, President & CEO, of Home Bancorp,
219-422-3502, or Matthew P. Forrester, VP & CFO
CO: Home Bancorp
ST: Indiana
IN: FIN
SU: ERN DIV
Holding Company for Home Loan Bank
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