Acadiana Briefs for Aug. 7, 2022 | Business

Firehouse Subs to open second Lafayette location

A Firehouse Subs will open in the former Regions Bank building near Acadiana Mall.

Demolition permits filed with Lafayette Consolidated Government show work could begin soon on removing the existing canopy used by the bank.

The 3,315-square-foot building had been listed for sale and remains owned by Regions Bank. Online listings indicate the property has been sold.

Firehouse Subs has three locations in Acadiana, including one at 104 E. Kaliste Saloom Road, Suite 109. Others are in Carencro and New Iberia.

Carencro donut shop closes its doors

Cajun Market Donut Co. has closed its Carencro location.

The owners announced on social media that it would close on Sunday “due to unforeseen circumstances.”

The location opened in October under franchisee Nick Wolfe in the Derek Plaza shopping center, 115 Derek Drive, in the former Goodwill donation center.

“We’d like to also publicly thank our staff,” the post said. “They have helped to keep this place alive. It has been such a pleasure to serve the Carencro community.”

Cajun Market Donut Co. has two locations in Lafayette and another in Breaux Bridge.

Catalyst Bank reports net profit in the second quarter

Catalyst Bancorp, the parent company for Opelousas-based Catalyst Bank, reported a profit of $18,000 in the second quarter, up from a loss of $131,000 in the first quarter, following its rebranding.

The bank, formerly known as St. Landry Homestead Federal Savings Bank, had $208,000 in pre-tax costs associated with the rebranding and $171,000 in Bank Enterprise Award funding from the Community Development Financial Institution Fund.

Loans totaled $133.6 million at June 30, up $1.6 million from March 31, due to new residential mortgage loans and commercial and industrial loans and partially offset by a drop in commercial real estate loans.

Total deposits were $178.7 million at June 30, down 2% from March 31. Total average deposits were $183.3 million for the second quarter, up 2% from the first quarter.

“We’re thrilled to have completed our rebrand to Catalyst Bank,” President and CEO Joe Zanco said. “Our name now reflects our mission: to be catalysts for economic growth in our communities. During the second half of the year, we’ll be laser focused on developing and deepening customer relationships.”

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Home Bank net income up $8.5 million in the second quarter

Lafayette-based Home Bancorp Inc., the parent company of Home Bank, generated $8.5 million of net income during the second quarter, up from $4.1 million during the previous quarter.

Per share earnings rose from 53 cents from $1.03.

The first and second quarters included merger expenses related to the acquisition of the Houston-based Texan Bank, a $66 million deal announced in December. Expenses included taxes of $1.3 million in the first quarter and $284,000 in the second.

Data conversion of Texan Bank’s systems were completed on schedule last month.

Income pre-tax, pre-provision and pre-Paycheck Protection Program income totaled $10.8 million, up $2.6 million, or 32%, from the prior quarter. Excluding Paycheck Protection Program loans, total loans increased $77.4 million.

Loans totaled $2.2 billion at June 30, up $66.7 million, or 3%, from March 31. Excluding Paycheck Protection Program loans, total organic loans were up $77.4 million from March 31. Paycheck Protection Program loans totaled $12.1 million as of June 30, down $10.7 million from March 31.

Commercial and industrial construction and land loans were primary drivers of loan growth during the second quarter, bank officials said, particularly in Acadiana with the addition of new lenders.

“We are pleased to report strong earnings and loan growth throughout our footprint, including growth from our most recent acquisition,” President and CEO John Bordelon said. “Total loans increased on a reported basis from the previous quarter by 3%. We are excited to see the growth opportunities in Houston and all of our markets.”

Hampr closes on $5 million round of funding

Hampr, an app-based wash-and-fold laundry service launched two years ago, closed a $5 million round of funding.

Now in 35 markets across nine states, the business hatched by Lafayette business owner Laurel Hess is using the funding to reach its goal of tripling its current footprint by the end of the year.

Hampr is receiving hundreds of new market requests each week. Since November, it has more than doubled its customer total and is now above 10,000, Hess said.

“The Gurtin team is overjoyed to continue supporting Hampr in this round,” said Grant Gurtin, of Gurtin Ventures, who invested in this round. “As a Hampr member myself, I’m blown away by the quality of the customer experience. The combination of a high-quality product and an analytics-driven approach to growth will allow the company to quickly expand its footprint across the US”

Hampr users can purchase an annual membership for $39 and place an order with local “washers,” who will pick up the order and return the laundry clean and folded.

The size of the company’s original team has more than tripled, Hess said, and it will announce new membership options soon.

“It’s a thrilling time to be in the laundry business,” Hess said. “It’s truly the one chore that never stops for busy individuals, single parents and families.”

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