NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned the senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 for HomeBancorp, Inc. (“the Company”), a bank holding company headquartered in Tampa, Florida. In addition, KBRA has assigned the senior unsecured debt/deposit rating of BBB+, the subordinated debt rating of BBB and short-term debt rating and short-term deposit rating of K2 for the subsidiary bank, HomeBanc National Association (“the Bank”). The outlook on all long-term ratings is stable.
The ratings are supported by HomeBancorp’s experienced management team, very strong asset quality metrics, unique brand and delivery model for its retail deposit services and economically favorable operating footprint. However, these factors are counterbalanced by the Company’s geographic concentration of its banking operations, high concentrations in real estate loans, and persistent below-peer net interest margin coupled with its increasing reliance upon spread-derived income.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on February 19, 2016.
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