Home Bancorp Inc (HBCP) 2026 Q1 法說會逐字稿

Good morning, ladies and gentlemen, and welcome to the Home Bancorp's first-quarter 2026 earnings conference call. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

各位女士、先生，早安，歡迎參加 Home Bancorp 2026 年第一季財報電話會議。（接線員指示）在今天的簡報之後，將有提問時間。請注意，本活動正在錄音。

I would now like to turn the conference over to Home Bancorp's Chairman, President, and CEO, John Bordelon; and Chief Financial Officer, David Kirkley. Please go ahead, Mr. Kirkley.

現在我想把會議交給 Home Bancorp 董事長、總裁兼執行長 John Bordelon，以及財務長 David Kirkley。Kirkley 先生，請開始。

Thank you. Good morning and welcome to Home Bank's first-quarter 2026 earnings call. The earnings release and investor presentation are available on our website. I would ask that everyone please refer to the disclaimer regarding forward-looking statements in the investor presentation and our SEC filings.

謝謝。各位早安，歡迎參加 Home Bank 2026 年第一季財報電話會議。新聞稿與投資人簡報已公布於我們的網站。我想請各位參考投資人簡報及我們向 SEC 申報文件中，關於前瞻性陳述的免責聲明。

I'll now hand it over to John to make a few comments about the first quarter and outlook for 2026. John?

接下來我把時間交給 John，請他就第一季表現與 2026 年展望做幾點說明。John？

Thanks, David. Good morning and thank you for joining our earnings call today. We appreciate your interest in the Home Bank as we discuss our results, expectations for the future, and our approach to creating long-term shareholder value.

謝謝你，David。各位早安，感謝今天加入我們的財報電話會議。當我們討論營運結果、對未來的預期，以及我們創造長期股東價值的方法時，感謝各位對 Home Bank 的關注。

Yesterday afternoon, we reported first-quarter net income of $11.4 million, or $1.46 per share (inaudible). Earnings per share were down $0.01 in the fourth quarter but increased 6% from a year ago and represented a good start to the year. Net interest margin expanded to 4.16%, which was 10 basis points higher than the fourth quarter and 25 basis points higher than a year ago.

昨天下午，我們公布第一季淨利為 1,140 萬美元，或每股 1.46 美元（聽不清）。每股盈餘較第四季下降 0.01 美元，但較去年同期成長 6%，為今年開了個好頭。淨利差擴大至 4.16%，較第四季高 10 個基點，較去年同期高 25 個基點。

Return on assets also increased to 1.30% in the first quarter. This quarter margin expansion was driven by a 22-basis point decline in our cost of funds, which contributed to a 25-basis point decline in our overall cost of funds. Loans declined by 1% in the first quarter as paydowns continue to outpace new production. We continue to see customers delay projects and transactions while they wait for additional clarity on interest rates.

第一季資產報酬率也提升至 1.30%。本季淨利差擴大主要來自資金成本下降 22 個基點，進而帶動我們整體資金成本下降 25 個基點。由於還款（paydowns）持續超過新增放款，第一季貸款餘額下降 1%。我們仍看到客戶在等待利率更明朗之際，延後專案與交易。

Despite the low balances, we maintained pricing and structured discipline, continued to generate new loan originations at attractive spreads and risk-adjusted returns. Our loan pipeline has improved in recent months, although the timing and pace of future loan growth remain difficult to predict, given continued market volatility and uncertainty around interest rates.

儘管餘額偏低，我們仍維持定價與結構上的紀律，持續以具吸引力的利差與風險調整後報酬創造新的放款承作。我們的放款案源（pipeline）近幾個月有所改善，但在市場持續波動及利率不確定性下，未來放款成長的時點與速度仍難以預測。

Total deposits increased by $54 million in the quarter, or 7% annualized, as core deposits increased $118 million and were offset by noncore CD declines of $64 million. Noninterest-bearing deposits increased $37 million and continued to represent 27% of our total deposits. As a result of our success on the deposit front, our loan to deposit ratio declined to approximately 90%, positioning us well for future growth.

本季存款總額增加 5,400 萬美元（年化 7%），其中核心存款增加 1.18 億美元，但被非核心定存（CD）減少 6,400 萬美元所抵銷。無息存款增加 3,700 萬美元，並持續占總存款的 27%。由於我們在存款端的成果，存放比降至約 90%，使我們在未來成長上具備良好定位。

The strength of our franchise is especially evident when you consider how we performed despite a challenging rate and economic environment. Over the past two years, diluted earnings per share have increased by more than 25%. Return on assets has improved by nearly 20%. Net interest margin has expanded by more than a 50 basis points, and our cost of deposits has declined by more than a 100 basis points.

即使在具挑戰性的利率與經濟環境下，我們的表現仍特別凸顯特許經營（franchise）的強韌。過去兩年，稀釋後每股盈餘成長超過 25%。資產報酬率提升近 20%。淨利差擴大超過 50 個基點，而我們的存款成本下降超過 100 個基點。

We also continue to have success in Texas with loans there growing to approximately 21% of our total portfolio compared to 15% when we entered the market through an acquisition in 2022. The new Northwest Houston branch opened during the quarter and gives us full-service presence in one of the fastest growing areas in the market. The branch square footage allows for significant growth in the region and will help our well-established commercial team continue to build our franchise. Several organizations have already requested to utilize the branch meeting rooms for their companies. The combination of the branch, its location, and our team of bankers should make the [Tomball] readings very successful.

我們在德州也持續取得成果，當地貸款成長至約占總投資組合的 21%，相較於我們在 2022 年透過併購進入該市場時的 15%。本季新開幕的 Northwest Houston 分行，讓我們在市場中成長最快的區域之一具備全方位服務據點。分行的坪數可支撐該區域顯著成長，並將協助我們已相當成熟的商業團隊持續擴大版圖。已有多個組織要求使用分行會議室供其公司使用。分行本身、其地點以及我們的銀行家團隊之結合，應能讓 [Tomball] 的經營非常成功。

Credit remains manageable. Non-performing assets increased during the quarter by $3.8 million, primarily due to the downgrade of three relationships. However, we continue to believe losses of these credits will be immaterial given the collateral protection and guarantor support. Our net charge-offs remain extremely low at just 6 basis points annualized.

信用狀況仍屬可控。本季不良資產增加 380 萬美元，主要因三個往來關係被降級。然而，鑑於擔保品保障與保證人支持，我們仍認為這些授信的損失將不具重大性。我們的淨沖銷仍極低，年化僅 6 個基點。

Finally, we are in the middle of our annual visits to all markets and hosting our Cajun-style crawfish boils. As we have done in previous years, executives serve our employees delicious crawfish with all the fixings and refreshments, reflecting our culture of servant leadership that is such an important driver of our success.

最後，我們正進行年度走訪各市場，並舉辦我們的卡津風味小龍蝦宴。與往年一樣，高階主管親自為員工提供美味小龍蝦及各式配菜與飲品，展現我們「服務型領導」的文化，而這也是推動我們成功的重要動力。

These gatherings are a great way to embrace that culture and generate enthusiasm. The time in the branches also gives managers an opportunity to answer questions from frontline staff and meet customers, both big and small.

這些聚會是擁抱該文化並凝聚熱情的好方式。在分行的時間也讓主管有機會回答第一線同仁的問題，並與大小客戶互動交流。

With that, I will turn it back over to David, our Chief Financial Officer.

接下來，我把時間交回給我們的財務長 David。

Thanks, John. Please feel free to refer to the investor presentation we have provided as I discuss the company's first-quarter financial results. Net interest income totaled $34.5 million in the first quarter, an increase of $434,000 from the fourth quarter and $2.8 million from a year ago. This was the highest quarterly net interest income in Home Bank's history and was driven by both lower funding costs and materially improved balance sheet structure.

謝謝你，John。當我說明公司第一季財務結果時，歡迎各位參考我們提供的投資人簡報。第一季淨利息收入為 3,450 萬美元，較第四季增加 43.4 萬美元，較去年同期增加 280 萬美元。這是 Home Bank 歷史上最高的單季淨利息收入，主要受惠於較低的資金成本以及資產負債表結構的顯著改善。

Slide 20 of the presentation has a two-year history of the yields that drive net interest income and NIM, and you can see the progress we made bringing funding costs down while keeping loan yields relatively stable. The cost of interest-bearing liabilities peaked in the third quarter of 2024 and has come down 64 basis points as we proactively reduce our exposure to higher cost funding.

簡報第 20 頁呈現推動淨利息收入與淨利差（NIM）的收益率兩年歷史，您可以看到我們在維持放款收益率相對穩定的同時，如何降低資金成本。計息負債成本在 2024 年第三季達到高峰，隨著我們主動降低對高成本資金的曝險，之後已下降 64 個基點。

For the same period, discipline underwriting and loan portfolio comprised of 56% fixed-rate loans have enabled us to maintain our loan yield within 12 basis points of the peak reached in the third quarter last year. And we are still making progress. In the first quarter, the average cost of interest-bearing deposits declined 22 basis points to 2.29%, while our overall cost of deposits declined by 16 basis points to 1.68%, which is less than half of the current Fed funds target rate.

在同一期間，嚴謹的授信承作紀律，以及由 56% 固定利率貸款所構成的放款組合，使我們得以將放款收益率維持在距離去年第三季高點僅 12 個基點的水準。而且我們仍在持續改善。第一季計息存款平均成本下降 22 個基點至 2.29%，而整體存款成本下降 16 個基點至 1.68%，不到目前聯邦基金目標利率的一半。

During the quarter, we had strong deposit growth of $54 million, or 7% annualized, despite a $64 million reduction in CDs, of which 70% were non-core CD customers. The decline in CD funding was offset by growth in lower-cost, relationship-based non-maturity deposits. Seasonal fluctuations in public deposits of $43 million contributed to the $118 million growth in non-maturity deposits during the quarter. We had solid growth in non-interest-bearing deposits, which increased $37 million quarter over quarter and $75 million year over year and represent 27% of total deposits.

本季存款強勁成長 5,400 萬美元（年化 7%），儘管定存（CD）減少 6,400 萬美元，其中 70% 來自非核心 CD 客戶。CD 資金的下降由較低成本、以關係為基礎的非到期存款成長所抵銷。本季公共存款的季節性波動 4,300 萬美元，促成非到期存款增加 1.18 億美元。我們的無息存款成長穩健，季增 3,700 萬美元、年增 7,500 萬美元，並占總存款的 27%。

Finally, due to our success in growing core deposits, we were able to repay all of our more expensive FHLB advances, which was a minor improvement of $3 million quarter over quarter, but a material improvement compared to the $175 million in advances we carried at year-end 2024. Given our lower cost of funds and the repricing opportunities within earning assets, we continue to believe [that is] additional opportunity for NIM expansion.

最後，由於我們成功成長核心存款，我們得以償還所有成本較高的 FHLB 預付款（advances）。這使得該項目較上季小幅改善 300 萬美元，但相較於 2024 年底我們持有的 1.75 億美元預付款，則是顯著改善。鑑於我們較低的資金成本以及生息資產的重定價機會，我們仍相信淨利差（NIM）仍有進一步擴大的空間。

Slide 14 details [accepted] repricing opportunities from our loans and investments over time. We continue to see a positive spread of approximately 40 basis points on new loan originations versus paidouts. [New] investment yields were north of 4% in Q1 versus expected roll-off yield of 2.43% over the next 12 months.

第14頁詳細說明了我們的貸款與投資隨時間推移所帶來的[已接受]重新定價機會。我們持續看到新承作貸款相較於到期償還（paidouts）的利差約為40個基點。[新]投資收益率在第一季高於4%，相較於未來12個月預期到期滾降（roll-off）收益率為2.43%。

Slide 15 and 16 of the presentation provides some additional detail on credit. Non-performing loans increased $1.6 million to $35.8 million or 1.31% total loans. This was primarily due to the downgrade of three relationships with the largest being $1.4 million, partially offset by the foreclosure of a $2.6 million property at Houston. We reported a provision expense of $922,000 in the quarter compared to $480,000 in the fourth quarter. The increase was primarily due to changes in [individuality] and credit reserves associated with these downgraded credits. Our allowance for loan losses increased to $33.1 million, or 1.23% of loans, and we continue to feel very confident in our reserve levels.

簡報第15頁與第16頁提供了更多關於信用的細節。不良貸款增加160萬美元至3,580萬美元，占總貸款的1.31%。這主要是因為三個往來關係被調降評等，其中最大的一筆為140萬美元；部分被休士頓一處260萬美元物件的法拍所抵銷。本季我們提列的備抵費用為92.2萬美元，較第四季的48萬美元增加。增加主要來自與這些被調降信用相關的[個別性]與信用準備金變動。我們的貸款損失準備金增加至3,310萬美元，占貸款的1.23%，我們仍對目前的準備水準非常有信心。

Slide 22 of the presentation has some additional detail on non-interest income and expenses. Non-interest income decreased by $260,000 to $3.7 million, which was slightly below expectations due to lower other income and bank card fees. We continue to expect quarterly non-interest income to be in the range of $3.8 million to $4 million.

簡報第22頁提供了更多關於非利息收入與費用的細節。非利息收入減少26萬美元至370萬美元，因其他收入與銀行卡手續費較低而略低於預期。我們仍預期單季非利息收入將落在380萬至400萬美元區間。

Non-interest expense declined by $106,000 to $22.9 million and was in line with expectations. We continue to expect non-interest expense to increase modestly beginning in the second quarter as annual raises take effect and technology investments ramp up. For the remainder of 2026, we expect quarterly non-interest expenses to be between $23.3 million and $23.7 million.

非利息費用下降10.6萬美元至2,290萬美元，符合預期。我們仍預期自第二季起，隨年度調薪生效及科技投資加速，非利息費用將小幅上升。2026年其餘期間，我們預期單季非利息費用介於2,330萬至2,370萬美元。

Slides 23 and 24 summarize the impact our capital management strategy has had on Home Bank. Since 2019, we have increased adjusted tangible book value per share at an annualized rate of approximately 9.7%, increased ETFs at more than 11% annualized rate, increased our quarterly dividend by more than 50%, and repurchased approximately 17% of our shares. Tangible book value per share increased to $46.04 this quarter, up almost $5 or 15% from the first quarter of 2025.

第23頁與第24頁總結了我們的資本管理策略對Home Bank的影響。自2019年以來，我們的調整後有形每股淨值以約9.7%的年化速度成長，ETF以超過11%的年化速度成長，季度股利提高超過50%，並回購約17%的股份。本季有形每股淨值增至46.04美元，較2025年第一季增加近5美元或15%。

And with that, operator, please open the line for some Q&A.

那麼，接線員，請開放電話線進行一些問答。

(Operator Instructions) Stephen Scouten, Piper Sandler.

（接線員指示）Stephen Scouten，Piper Sandler。

I am curious, and apologies if I missed any color you gave already, David, but in terms of the NIM trajectory from here, if we were to get no cuts, how does that affect some of your previous statements of expecting expansion for the remainder of 2026? Does that actually improve that expectation or make you a little more bullish given your asset sensitive nature? Or how do you think about the NIM with this rate environment?

我有點好奇，David，如果我先前你已經提過而我漏聽了也先說聲抱歉；但就從現在起的NIM走勢而言，若我們完全沒有降息，這會如何影響你先前所說的、預期2026年其餘期間將擴張的說法？鑑於你們資產敏感的特性，這是否反而改善該預期、讓你更偏多？或在這樣的利率環境下，你如何看待NIM？

I think, as I mentioned, we have a lot of opportunity for repricing both the loan and investment securities portfolio, and you have seen that with our stable loan yield and slightly increasing investments. So I still think without any rate cuts, we are still seeing expansion in our loan yield and picking up about 40 basis points on cash flow versus new originations. I think that deposits are probably, without any further rate cuts, probably around the floor. So I still think that there is opportunity without any break cuts for expanded NIM.

我想，如我提到的，我們在貸款與投資證券組合兩方面都有很多重新定價的機會，而你也看到我們貸款收益率穩定、投資收益率略有上升。因此我仍認為，即使沒有任何降息，我們仍看到貸款收益率擴張，新承作相較於現金流（到期/償還）大約提升40個基點。我認為在沒有進一步降息的情況下，存款成本大概已接近底部。因此我仍認為，即使沒有任何降息，NIM仍有擴張空間。

I would just add that the deposit side probably will dictate the pace of the growth of that NIM. We know that we have loans repricing, but assuming rates stay where they are, not sure exactly where the positive rates are going to have to go for us to sustain the level that we have today.

我補充一下，存款端可能會決定NIM成長的速度。我們知道有貸款在重新定價，但假設利率維持在目前水準，不太確定為了讓我們維持今天的水準，正向利率（positive rates）到底還需要往哪裡走。

Yes, that makes sense. And then could you give a little bit of color on what you saw from a production standpoint on the loan side and maybe customer demand throughout the quarter? I know you mentioned the strength in the Texas markets, and then you said 3% growth there, but how maybe that demand segmented by time of the month as well as those different markets?

是的，這很合理。接著能否談談本季在貸款端的生產（承作）表現，以及整季客戶需求的情況？我知道你提到德州市場的強勁，並說那裡成長3%；但需求是否也能按月份中的時間點、以及不同市場來做一些區分說明？

Yeah. The demand, of course, the last three quarters, second, third, and fourth of last year were, I guess, really hurt by some pay downs, companies selling, businesses selling, whatever. This first quarter was very typical of previous quarters other than the last three years. First quarters typically are relatively flat and people kind of getting their footing and moving forward.

可以。當然，過去三個季度，也就是去年第二、第三與第四季，我想需求確實受到一些提前償還（pay downs）、公司出售、業務出售等等的影響而被壓抑。今年第一季除了不同於過去三年外，其實非常符合以往季度的典型情況。第一季通常相對持平，大家會先站穩腳步再往前推進。

The last three years though, first quarter was much more productive. So I think this is a more natural period where I think people were looking for lower interest rates and realizing they are not going to get it. But I think we'll see higher demand potentially in second and third quarter. Assuming also geopolitical issues throughout the world are not slowing that demand.

不過過去三年，第一季的承作量要高得多。所以我認為這是一段較自然的期間：人們原本在等更低的利率，現在也逐漸意識到不會出現。但我認為第二、第三季的需求可能會更高，前提是全球各地的地緣政治問題不會拖慢需求。

Makes sense. Okay. And maybe just last thing for me. I am curious. Obviously, the stock has had a really nice run over the last 1.5 years or what have you. Does that allow for any potential M&A conversations to pick up or escalate? Or conversely, if nothing is able to happen to you at any point, start to think about partnering with a larger institution?

了解。好，最後一個問題。我有點好奇，顯然這支股票在過去一年半左右表現很好。這是否讓一些潛在的併購（M&A）對話有機會增加或升溫？或者反過來說，如果任何時點都無法發生成交，你們是否會開始考慮與更大型的機構合作？

Absolutely. I think M&A will come a little more into focus. What we did look at over the last three years more so were smaller transactions because we did not have the commodity to be able to utilize our stock. So I think with our stock price trading close to the [1.40] tangible, we think we can do a deal this year. So potentially something of a little more size than what we have been looking at for the last three years.

當然。我認為併購會更成為焦點。過去三年我們看的多是較小型的交易，因為我們沒有足夠的「籌碼」能運用我們的股票。我認為以我們目前股價接近有形淨值的[1.40]倍來看，我們覺得今年可以做成一筆交易，因此可能會是比過去三年所看的案子更大一些的規模。

Joseph Yanchunis, Raymond James.

Joseph Yanchunis，Raymond James。

So pretty good quarter on the deposit front, and, as you discussed, you're prepared to march at the lower-cost improved funding mix. Can you talk about what you are seeing in the market from a competitive standpoint?

存款方面這一季表現相當不錯，而且如你所說，你們已準備好朝更低成本、改善後的資金結構邁進。你能談談你在市場上看到的競爭情況嗎？

I would say going back to Q4, when we started seeing the rate cuts, a good portion of the banks did lower their deposit rates accordingly, and we did as well. We saw an outflow of CDs. I think I mentioned the dollar amount, and we lowered our CD rates. So we did have some CD runoff from non-core customers.

我會說回到第四季，當我們開始看到降息時，許多銀行確實相應下調了存款利率，我們也一樣。我們看到定存（CD）流出。我想我提過金額，而且我們也下調了CD利率。因此我們確實出現了一些來自非核心客戶的CD到期流失（runoff）。

Looking at some of the competitive peer data, we did see a couple of outliers in the 4% range. And we had to adjust our CD rates up slightly. When I say slightly, I am talking from [365] as our top rate to [385] in those markets. And that stems the outflow of CDs for us a little bit. We are still seeing, with rate expectations going, cut rate going away. We have seen a couple of other competitors in Houston as well be a little bit more aggressive in the 4% to 4.25% range.

從一些同業競爭數據來看，我們確實看到有幾個離群值在4%左右。因此我們把CD利率稍微上調。我說的「稍微」是指，我們的最高利率從[365]調到那些市場的[385]。這讓我們的CD流出稍微受到抑制。我們仍看到，隨著市場對利率的預期轉變、降息預期消退，我們也看到休士頓有幾個其他競爭對手在4%到4.25%的區間更為積極。

I appreciate that. And David, just going back to your expense guide. It sounds like you lowered your out-quarter expense guide from what you said on the prior quarter. Just wondering what is driving that decrease?

感謝。David，再回到你的費用指引。聽起來你把本季以後的費用指引，較你在上一季所說的下調了。想請教是什麼因素驅動這個下降？

Joe, I feel like I did not change the guidance for the rest of 2026. I will have to follow-up with you individually on that. I feel like I did not change that guidance at all. I will have to connect with you.

Joe，我覺得我並沒有改變 2026 年剩餘期間的指引。我得再私下跟你確認一下。我覺得我完全沒有改那個指引。我會再跟你聯繫。

Okay, I will have to double check that. Just to be clear, you had said 23.3 to 23.7 is the go-forward number?

好的，我得再確認一下。為了釐清，你之前說 23.3 到 23.7 是往後的數字？

Yes.

是的。

Got it. Then kind of want to hit on the loan book one more time. In your prepared remarks, you mentioned that the pipeline has improved. Are you able to quantify the change of the pipeline versus the end of the December quarter? Additionally, it looks like C&I utilization dipped about 400 basis points this quarter. In your view, what needs to happen to see some recovery there?

了解。接著我想再談一次放款組合。在你準備好的發言中，你提到案源管線有所改善。你能量化一下，與 12 月季度末相比，管線變化幅度是多少嗎？另外，看起來本季 C&I 動用率下滑了約 400 個基點。以你的看法，要看到那邊回升需要發生什麼？

Yeah, I think one of the things that we focused on probably going back two years now is a reduction in our appetite for non-owner occupied. So what you have seen so far in 2026, first quarter, was a reduction in those types of loans. There are some players out there that are very, very competitive on rates, and so we were able to hold onto those. So those are a lot of rental properties and things of that nature. So that is where our loan reduction is coming from. So we still have a decent pipeline, but we have lost -- I do not remember the number, David. [We remain] in a few categories.

是的，我想我們大概從兩年前開始聚焦的一件事，是降低我們對非自住（non-owner occupied）的偏好。所以你在 2026 年第一季看到的，就是這類貸款的減少。市場上有些同業在利率上非常、非常有競爭力，因此我們能把那些留住。那多半是出租物件之類的。所以我們的放款縮減主要來自那裡。我們仍然有不錯的管線，但我們已經流失了——我不記得數字了，David。[我們仍然]在幾個類別中。

So we anticipate that runoff may slow down a little bit, but that will help us add balance in the second and third quarter, maybe even the fourth quarter, assuming the rate cuts. Rate cuts may even spur that on a little bit more on the one side.

因此我們預期自然到期流失（runoff）可能會稍微放緩，但這將有助於我們在第二、第三季，甚至第四季增加資產負債表規模，前提是有降息。降息在某一端甚至可能會更進一步帶動這件事。

Yeah, I appreciate that. Then last one for me here.

好的，謝謝。那我這邊最後一題。

Joe, the pipeline increased about $30 million as of March compared to December.

Joe，截至 3 月，相較於 12 月，管線增加了大約 3,000 萬美元。

And $30 million off what base, if you do not mind?

如果你不介意的話，這 3,000 萬美元是從什麼基數增加的？

It's about $122 million.

大約是 1.22 億美元。

That is great. Certainly, from a percentage standpoint. And then last one for me. While relatively small, it looks like SBA volume has ticked higher this year, while the average deal size has been cut in half versus 2025. Can you talk about your SBA strategy and how it has evolved?

那很棒，從百分比角度來看確實如此。那我最後一題。雖然相對不大，但看起來今年 SBA 量有所上升，而平均單筆規模相較 2025 年減半。你能談談你們的 SBA 策略以及它如何演變嗎？

It has been a very slow process. We have looked at a lot of C&I pack loans on the SBA side. A lot of brokers are taking some of the 7a type loans. We have not -- I do not know if we have originated any 7a loans in the last couple of years. So it has been very tough. Either they do not fit our appetite or very competitive bidding, and the prices are such that we are not winning.

這一直是個非常緩慢的過程。我們在 SBA 這一端看了很多 C&I 的套裝貸款（pack loans）。很多經紀商在承作一些 7(a) 類型的貸款。我們沒有——我不知道我們過去幾年是否有承作任何 7(a) 貸款。所以一直很困難。不是不符合我們的偏好，就是競標非常激烈，價格條件使得我們贏不了。

But that is something that we are actually discussing our strategy for SBA. It is not going to be a big part of our portfolio. To be able to make it a big part of our portfolio, we would have to invest in a lot of lenders in that world. And we wanted to have that as a go-to but not necessarily drive it for significant success.

不過這也是我們正在討論 SBA 策略的事情。它不會成為我們投資組合中的重要部分。若要讓它成為投資組合的重要部分，我們就必須在那個領域投入很多放款人員。我們希望把它作為可選的工具（go-to），但不一定要以它來驅動顯著的成長成果。

(Operator Instructions) Freddy Strickland, Hovde.

（接線員指示）Freddy Strickland，Hovde。

Just wanted to touch on loans first. David, I think you mentioned a [42] basis point pickup on loan yield, kind of the stuff is renewing, but I was curious, what is the average rate on new production today?

我想先談放款。David，我想你提到放款收益率上升了 [42] 個基點，主要是一些到期續作的案子。不過我好奇，目前新承作的平均利率是多少？

About 7%.

大約 7%。

Okay. Then on the credit side, I was wondering if you could just walk through a little bit more of kind of maybe what is maybe in workout and maybe some changes that we could see later this year, just as you kind of work through the credits. I appreciate that you mentioned in the relief that the losses should be immaterial, but just curious if we could maybe see a directional change in NPAs later this year?

好的。那在信用面，我想請你再多說一點，例如目前有哪些可能在重整／處置（workout）中，以及你們在處理這些授信時，今年稍晚可能會看到哪些變化。我也感謝你提到在紓困（relief）部分損失應該不重大，但我想了解的是，今年稍晚 NPAs（不良資產）是否可能出現方向性的變化？

Well, I think, the biggest issue that we have seen probably in the last two or three years is the time it's taking to run these specialized sets through the process. We had some that we are working on in New Orleans that filed bankruptcy the day before the foreclosure. So we are in year two of collections on that. Our oldest classified asset is trying to refinance outside, and hopefully that happens. And that has been a bad asset for seven years.

嗯，我想我們在過去兩三年看到最大的問題，是把這些特殊案件跑完整個流程所需的時間。我們在紐奧良有一些案子正在處理，對方在法拍前一天申請破產。所以我們對那案子已經進入第二年的催收。我們最久的分類資產正在嘗試向外部再融資，希望能成行。而那已經是一筆不良資產長達七年。

The longevity of these and our ability to get them and work them seems to be the biggest problem. Because once we get them, we can work them. Whether we pay a loss or we are able to recover our loan amount is irrelevant. We want to work and get them out and get that money back working. And it has just been a very slow process over the last couple of years in getting that done. So that is why we are having a little bit more accumulation. It is not like we had that much in the quarter, $3 million additional, but we did not have $3 million of runoff. That is the problem.

這些案件拖得久，以及我們把它們收回並加以處理的能力，似乎是最大的問題。因為一旦我們拿到手，就能處理。至於我們是承擔損失，或能收回放款本金，其實不是重點。我們想把它們處理掉、出清，讓資金回收後重新投入運用。而過去幾年在完成這件事上一直非常緩慢。所以這就是為什麼我們會有一些累積。並不是說本季增加很多，只是多了 300 萬美元，但我們沒有 300 萬美元的到期流失（runoff）。問題就在這裡。

Got it. Just one other question on the deposit side. It is good to see solid DDA growth. I am just curious, I know that is kind of tough in this environment with where it is sitting where they are at, but do you think there is an ability to continue to grow, not just bearing? Do you see anything on the horizon that could lead that number to continue to climb higher?

了解。存款方面我還有一題。很高興看到 DDA（活期存款）穩健成長。我只是好奇，我知道在目前這種環境下、在它所處的位置要做到並不容易，但你覺得是否有能力持續成長，不只是（不只是）承作？你是否看到任何可能讓這個數字持續往上走的跡象？

I think the biggest change for us has been attracting bankers that are more C&I driven and so we are getting total relationships and some of those relationships come with very healthy deposits. And so as long as we continue to do that, and for a long period of time we were a CRE bank, and our focus changed about four years ago away from that to more of a C&I customer and I think that is what you are seeing here is the influx of deposits, not necessarily being loan amounts.

我想對我們而言最大的改變，是吸引到更以 C&I 為導向的銀行家，因此我們拿到的是整體關係（total relationships），而其中一些關係會帶來非常健康的存款。所以只要我們持續這麼做——而且很長一段時間我們是一家 CRE 銀行——我們大約四年前把重心從那裡轉向更偏 C&I 客戶。我想你在這裡看到的就是存款的流入，而不一定是放款金額的增加。

(Operator Instructions) This concludes our question-and-answer session. I would now like to turn the conference back over to Mr. John Bordelon for any closing remarks.

（接線員指示）問答環節到此結束。現在我想把電話會議交回給 John Bordelon 先生，請他做結語。

Thank you all for joining us today. We sure appreciate your questions and your concern for Home Bancorp. We look forward to speaking to many of you in the coming days and weeks, and I hope everyone has a wonderful week. Thank you very much.

感謝各位今天加入我們。我們非常感謝各位的提問，以及各位對 Home Bancorp 的關心。我們期待在接下來幾天與幾週內與許多各位再交流，也祝大家有美好的一週。非常謝謝。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

本次電話會議已結束。感謝各位參加今天的簡報。您現在可以掛線。