ASHEVILLE, N.C., July 22, 2025 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (NYSE: HTB) ("Company"), the holding company of HomeTrust Bank ("Bank"), today announced preliminary net income for the second quarter of the year ending December 31, 2025 and approval of its quarterly cash dividend.
For the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025:
-- net income was $17.2 million compared to $14.5 million;
-- diluted earnings per share ("EPS") were $1.00 compared to $0.84;
-- annualized return on assets ("ROA") was 1.58% compared to 1.33%;
-- annualized return on equity ("ROE") was 11.97% compared to 10.52%;
-- net interest margin was 4.32% compared to 4.18%;
-- provision for credit losses was $1.3 million compared to $1.5 million;
-- gain on the sale of our two Knoxville, Tennessee branches was $1.4
million compared to $0;
-- quarterly cash dividends continued at $0.12 per share totaling $2.1
million for both periods; and
-- 78,412 shares of Company common stock were repurchased during the current
quarter at an average price of $35.74 compared to 14,800 shares
repurchased at an average price of $33.64 in the prior quarter.
For the six months ended June 30, 2025 compared to the six months ended June 30, 2024:
-- net income was $31.7 million compared to $27.5 million;
-- diluted EPS were $1.84 compared to $1.61;
-- annualized ROA was 1.46% compared to 1.25%;
-- annualized ROE was 11.26% compared to 10.73%;
-- net interest margin was 4.25% compared to 4.08%;
-- provision for credit losses was $2.8 million compared to $5.4 million;
-- tax-free death benefit proceeds from life insurance were $0 compared to
$1.1 million;
-- cash dividends of $0.24 per share totaling $4.1 million compared to $0.22
per share totaling $3.7 million; and
-- 93,212 shares of Company common stock were repurchased during the six
months at an average price of $35.41 compared to 23,483 shares
repurchased at an average price of $27.48 in the same period last year.
The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per common share payable on August 28, 2025 to shareholders of record as of the close of business on August 14, 2025.
"Given the current economic uncertainty, we are pleased to report another quarter of strong financial results," said C. Hunter Westbrook, President and Chief Executive Officer. "These results reflect HTB's commitment to remain nimble and be prudent balance sheet managers. Our earnings story over recent quarters has primarily been driven by our top quartile net interest margin, which expanded to 4.32% this quarter, and our ability to limit growth in our expense base.
"HTB previously set a goal to be a consistently high-performing regional community bank that is a regionally and nationally recognized 'Best Place to Work.' As a result of this strong financial performance, for the second year in a row, the Company was named one of Forbes' America's Best Banks for 2025 and recognized as a Top 50 Community Bank in the 2024 S&P Global Market Intelligence annual rankings, awards based on the overall financial performance and strength of financial institutions. The Company was also recently included in the coveted 2025 KBW Bank Honor Roll, a distinction granted to only 5% of eligible banks based on their best-in-class earnings growth over the past ten years. Over the last year, HTB has been recognized as a best place to work in all five states we serve as well as nationally by Newsweek and American Banker.
"Lastly, during the quarter we completed the previously announced sale of our two Knoxville, Tennessee branches. This transaction reflects our efforts to tighten our geographic footprint, improve our branch efficiencies, and allow us to better allocate capital to support long-term growth in other core markets."
WEBSITE: WWW.HTB.COM
Comparison of Results of Operations for the Three Months Ended June 30, 2025 and March 31, 2025
Net Income. Net income totaled $17.2 million, or $1.00 per diluted share, for the three months ended June 30, 2025 compared to $14.5 million, or $0.84 per diluted share, for the three months ended March 31, 2025, an increase of $2.7 million, or 18.4%. Results for the three months ended June 30, 2025 benefited from a $1.3 million increase in net interest income and a $2.1 million increase in noninterest income due to a $1.4 million gain on the sale of two branch locations. Details of the changes in the various components of net income are further discussed below.
Net Interest Income. The following table presents the distribution of average assets, liabilities and equity, as well as interest income earned on average interest-earning assets and interest expense paid on average interest-bearing liabilities. All average balances are daily average balances. Nonaccruing loans have been included in the table as loans carrying a zero yield.
Three Months Ended
June 30, 2025 March 31, 2025
---------------------------------- ----------------------------------
Average Interest Average Interest
Balance Earned / Yield / Balance Earned / Yield /
(Dollars in thousands) Outstanding Paid Rate Outstanding Paid Rate
Assets
Interest-earning assets
Loans receivable(1) $3,804,502 $ 60,440 6.37% $3,802,003 $ 58,613 6.25%
Debt securities
available for sale 149,611 1,658 4.45 152,659 1,787 4.75
Other
interest-earning
assets(2) 149,175 1,543 4.15 206,242 3,235 6.36
--------- ------- ---- --------- ------- ----
Total
interest-earning
assets 4,103,288 63,641 6.22 4,160,904 63,635 6.20
------- ---- ------- ----
Other assets 263,603 266,141
--------- ---------
Total assets $4,366,891 $4,427,045
========= =========
Liabilities and equity
Interest-bearing
liabilities
Interest-bearing
checking accounts $ 563,817 $ 1,251 0.89% $ 573,316 $ 1,324 0.94%
Money market accounts 1,329,973 9,004 2.72 1,345,575 9,177 2.77
Savings accounts 182,340 37 0.08 183,354 38 0.08
Certificate accounts 868,321 8,564 3.96 951,715 9,824 4.19
--------- ------- ---- --------- ------- ----
Total
interest-bearing
deposits 2,944,451 18,856 2.57 3,053,960 20,363 2.70
Junior subordinated
debt 10,154 206 8.14 10,129 205 8.21
Borrowings 31,154 350 4.51 12,301 160 5.28
--------- ------- ---- --------- ------- ----
Total
interest-bearing
liabilities 2,985,759 19,412 2.61 3,076,390 20,728 2.73
------- ---- ------- ----
Noninterest-bearing
deposits 744,585 719,522
Other liabilities 59,973 70,821
--------- ---------
Total liabilities 3,790,317 3,866,733
Stockholders' equity 576,574 560,312
--------- ---------
Total liabilities and
stockholders'
equity $4,366,891 $4,427,045
Net earning assets $1,117,529 $1,084,514
========= =========
Average
interest-earning
assets to average
interest-bearing
liabilities 137.43% 135.25%
Non-tax-equivalent
-------- --------
Net interest income $ 44,229 $ 42,907
======= =======
Interest rate spread 3.61% 3.47%
Net interest
margin(3) 4.32% 4.18%
Tax-equivalent(4)
-------- --------
Net interest income $ 44,660 $ 43,325
======= =======
Interest rate spread 3.65% 3.51%
Net interest
margin(3) 4.37% 4.22%
(1) Average loans receivable balances include loans held for sale and nonaccruing loans.
(2) Average other interest-earning assets consist of FRB stock, FHLB stock, SBIC investments and deposits in other banks.
(3) Net interest income divided by average interest-earning assets.
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