B&K deal helps Home Bancorp profit soar

The acquisition of Britton & Koontz helped lift Lafayette-based Home Bancorp Inc.’s second-quarter earnings to $2.8 million, or 40 cents per share, compared to $1.5 million, or 18 cents per share, a year ago.

Home Bancorp is the parent company of Home Bank, a savings and loan. The Britton & Koontz deal added $207,000 in pre-tax merger expenses to the second-quarter results. Home Bancorp acquired the Natchez, Mississippi-based bank on Feb. 14 for $34.5 million in cash.

“The full quarter impact of the Britton & Koontz acquisition and vibrant south Louisiana economies are the primary reasons for the significant improvement in our financial performance,” Home President and Chief Executive Officer John W. Bordelon said. “We remain excited about the continued economic strength of our markets.”

Britton & Koontz increased Home’s assets by $298.7 million and added $264.3 million in deposits. Home Bank now has 27 full-service locations in Louisiana and Mississippi.