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): March 17, 1999
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 announcing $40 Million
Deposit Growth.
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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 29, 1999 ------------
W. Paul Wolf
Chairman, President, CEO
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NEWS RELEASE
Home Bancorp Date April 28, 1999 7:00 A.M.
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 $40 Million Deposit Growth
FORT WAYNE, Indiana, -- April 28, 1999 -- Home Bancorp (Nasdaq: HBFW) today
reported second quarter fiscal year 1999 (FY '99) earnings and financial results
ended March 31, 1999. Net income for the second quarter 1999 was $789,000 ($0.39
basic earnings per share) compared to $839,000 ($0.38 basic earnings per share)
for the same period a year earlier, a dollar decrease of 6%, however, reflected
a 3% increase in earnings per share. The three months earnings represent an
annualized return on average assets (ROA) of 0.81% and a return on average
equity (ROE) of 7.86%. The decrease in the March 31, 1999 quarterly income from
the prior year like period was attributed to a $40.0 million net deposit growth
and a $5.0 million advance increase which together collectively increased total
interest expense $0.3 million.
Net income for the six months ended March 31, 1999 increased 3% to $1,554,000
($0.76 basic earnings per share) from $1,504,000 ($0.68 basic earnings per
share) for the same period in 1998, an increase of 12% in earnings per share.
For the six month period ended March 31,1999, earnings represent an annualized
average ROA of 0.81% and a ROE of 7.72%.
A Company's milestone at March 31, 1999 was $396.6 million in total assets, an
increase of $43.2 million, or 12% from $353.4 million at March 31, 1998; net
loans receivable were $339.2 million, an increase of $33.2 million, or 11%,
during the twelve-month period. For the same period from March 31, 1998 to March
31, 1999, deposits increased from $303.6 million to $343.6 million, or an
increase of $40.0 million or 13%.
Home Loan Bank has a proven track record attracting a sizable depositor and
borrower customer base. W. Paul Wolf, Chairman and Chief Executive Officer,
reported "Most sophisticated customers, for their peace-of-mind, want to be able
to look at a firm's past performance before establishing a banking relationship.
A portion of current deposit and loan growth can be the result of unhappy
customers whose former local banks were acquired by out-of-state bank holding
companies."
In the short four years since the March 29, 1995 stock conversion, the Company's
March 31, 1999 results have achieved enormous growth; i.e. assets increased
29.7% from $306 million to $397 million; loans augmented from $204 million to
$339 million for a 66.2% growth; and deposits magnified to $344 million from
$250 million, a 37.6% increase.
Page 1 of 2
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Home Bancorp
News Release
April 28, 1999
Page 2
The Company's efficiency ratios, as measured of core operating expenses to
income, for the six-month period ended March 31, 1999 was 48.80%; the G&A
(operating) expenses to assets was 1.29%. As a company becomes more efficient,
these ratios reduce.
Shareholders' equity in Home Bancorp totaled $40.1 million, or 10% expressed as
a percentage of assets, at March 31, 1999. The number of common shares
outstanding was 2,175,768 with the book value per common share outstanding of
$18.43.
The thirteenth consecutive quarterly cash dividend, paid April 8, 1999 to
shareholders of record on March 25th, of $0.10 per share was a 25% increase from
prior quarter's dividend. The 25% cash dividend increase represented the second
quarterly dividend increase within a year; the $0.08 dividend paid July 9, 1998
consisted of a 60% jump over the $0.05 dividend paid in May 1998.
The January 26, 1999 Fourth Annual Shareholders' Meeting, held at the Holiday
Inn Downtown, Fort Wayne, was a record attendance of 150 Home Bancorp
shareholders. Of the total shares issued and outstanding on the record date, the
shares voted, either in person or by proxy, represented 83.68% of outstanding
shares.
Home Bancorp (Nasdaq)
Quarter March 31: 1999 1998
Net Income ........................... $789,000 $839,000
Share Earnings:
Net Income basic ............ .39 .38
Net Income diluted .......... .37 .37
Holding Company for Home Loan Bank
