U.S. stock futures were lower this morning, with the Dow futures falling around 100 points on Friday.Shares of Intel Corp (NASDAQ:INTC) fell sharply in pre-market trading as the company reported better-than-expected fourth-quarter financial results, but issued a weak outlook after the market close on Thursday.Intel said it expects first-quarter revenue to be in the range of $11.7 billion to $12.7 billion, versus estimates of $12.49 billion. The company anticipates breakeven first-quarter adjusted earnings v ...

Financial Performance - Net income for Q4 2025 was $16.1 million, a decrease of 2.2% from $16.5 million in Q3 2025[8] - Diluted earnings per share (EPS) for Q4 2025 were $0.93, down from $0.95 in Q3 2025[7] - Annualized return on assets (ROA) for Q4 2025 was 1.44%, compared to 1.48% in Q3 2025[7] - Annualized return on equity (ROE) for Q4 2025 was 10.63%, down from 11.10% in Q3 2025[7] - For the full year 2025, net income was $64.4 million, an increase of 17.5% from $54.8 million in 2024[7] - Net income for the year ended December 31, 2025, totaled $64.4 million, or $3.72 per diluted share, representing an increase of $9.6 million, or 17.4%, compared to the previous year[19] - Net income for the year ended December 31, 2025, was $64,364,000, representing a 17.3% increase from $54,805,000 in 2024[48] Income and Expenses - Total interest and dividend income for the year ended December 31, 2025, decreased by $5.5 million, or 2.1%, compared to the previous year, with loan interest income down by $7.2 million, or 2.9%[25] - Total interest expense for the year ended December 31, 2025, decreased by $12.7 million, or 13.8%, primarily due to a $9.8 million decrease in interest expense on deposits[26] - Noninterest income for the three months ended December 31, 2025, increased by $645,000, or 7.4%, compared to the previous quarter, totaling $9.396 million[17] - Loan income and fees increased by $349,000, or 60%, to $926,000 for the three months ended December 31, 2025, primarily due to a rise in interest rate swap fees[17] - Noninterest expense for the three months ended December 31, 2025, increased by $428,000, or 1.4%, totaling $31.694 million[18] - Noninterest income increased by $2.9 million, or 8.6%, to $36.331 million, driven by a $1.415 million increase in gain on sale of loans held for sale[29] - Noninterest expense decreased by $321,000, or 0.3%, to $125.176 million, with a notable decrease in computer services expense by $1.853 million, or 15%[30] Asset and Liability Management - Total assets decreased by $49.8 million to $4.5 billion, while total liabilities decreased by $98.7 million to $3.9 billion[34] - Total loans, net of deferred loan fees and costs, were $3.58 billion as of December 31, 2025, compared to $3.64 billion as of September 30, 2025[46] - Deposits increased to $3.71 billion as of December 31, 2025, from $3.70 billion as of September 30, 2025[46] - Total interest and dividend income for Q4 2025 was $63,467,000, a decrease of 2.8% from $65,395,000 in Q3 2025[48] - Total interest-earning assets decreased by $4.18 million due to a decrease in loans receivable of $7.24 million and a decrease in other interest-earning assets of $1.007 million[27] Credit Quality - Provision for credit losses in Q4 2025 was $2.1 million, slightly up from $2.0 million in Q3 2025[7] - The company reported a $607,000 decrease in the provision for credit losses for the year ended December 31, 2025[19] - Provision for credit losses decreased by $607,000, or 8%, to $6.938 million, with loans provision decreasing by $1.995 million, or 27%[27] - Net loan charge-offs totaled $9.3 million, down from $10.8 million in the prior year, with annualized net charge-offs as a percentage of average loans at 0.24%[38] - Nonperforming assets increased by $15.7 million, or 54.4%, to $44.4 million, representing 0.98% of total assets[40] - Nonperforming loans to total loans ratio increased to 1.22% in Q4 2025 from 0.89% in Q3 2025, indicating a decline in asset quality[53] Equity and Capital Management - Stockholders' equity increased by $48.9 million, or 8.9%, to $600.7 million, supported by $64.4 million in net income[35] - The total stockholders' equity was $600.7 million as of December 31, 2025, compared to $595.8 million as of September 30, 2025[46] - Tangible book value as of December 31, 2025, was $562,846,000, up from $551,758,000 a year earlier[58] - Tangible book value per share increased to $32.56 as of December 31, 2025, compared to $29.24 a year prior[58] - Tangible equity to tangible assets ratio improved to 12.49% as of December 31, 2025, from 11.25% a year earlier[58] Operational Efficiency - The efficiency ratio improved to 59.12% in Q4 2025, compared to 57.75% in Q3 2025, indicating increased operational efficiency[51] - Adjusted efficiency ratio for Q4 2025 was 58.80%, an improvement from 57.28% in Q3 2025, and 60.28% for the full year 2024[58] Strategic Initiatives - HomeTrust Bancshares plans to accelerate loan growth in 2026, supported by a robust capital base and strategic vision[4] - The company has implemented strategies to assist customers in recovery efforts post-Hurricane Helene, including payment deferrals[42] - The company has been recognized as one of Bank Director's "Best U.S. Banks" and one of Forbes' "America's Best Banks"[43]

Financial Performance - Net income for the three months ended September 30, 2025, was $16,491, representing a 25.5% increase compared to $13,112 for the same period in 2024[15]. - Net income for the nine months ended September 30, 2025, was $48,240,000, compared to $40,597,000 for the same period in 2024, marking a 19.5% increase[23]. - Comprehensive income for the three months ended September 30, 2025, was $17,092, compared to $15,531 for the same period in 2024, reflecting a growth of 10.1%[17]. - Basic net income per share for the three months ended September 30, 2025, was $0.96, compared to $0.77 for the same period in 2024, reflecting a 24.7% increase[122]. - Total noninterest income for the nine months ended September 30, 2025, was $26,935, an increase from $25,206 in the same period of 2024[15]. Asset and Liability Management - Total assets as of September 30, 2025, were $4,592,137, a slight decrease from $4,595,430 on December 31, 2024[13]. - The company reported a total liabilities figure of $3,996,304 as of September 30, 2025, down from $4,043,672 at the end of 2024, indicating a decrease of approximately 1.2%[13]. - Total stockholders' equity as of September 30, 2025, was $595,833,000, up from $540,004,000 as of September 30, 2024, indicating a year-over-year increase of 10.3%[23]. - Deposits decreased to $3,698,227 as of September 30, 2025, from $3,779,203 on December 31, 2024, reflecting a decline of approximately 2.1%[13]. Credit Quality and Loss Provisions - The provision for credit losses for the three months ended September 30, 2025, was $2,015, down from $2,975 in the same period of 2024, indicating improved credit quality[15]. - The allowance for credit losses on loans was $43,086 as of September 30, 2025, compared to $45,285 on December 31, 2024, showing a reduction in reserves[13]. - The provision for credit losses for the nine months ended September 30, 2025, was $3,940,000, compared to $8,435,000 for the same period in 2024, indicating a decrease of 53.4%[80]. - The company reported a total of $1,786,407 thousand in total commercial real estate loans for 2025, reflecting a slight decrease from $1,786,407 thousand in 2024[60]. Shareholder Returns - Cash dividends declared on common stock for the three months ended September 30, 2025, were $0.12 per share, compared to $0.11 per share in the same period of 2024, reflecting a 9.1% increase[20]. - Cash dividends paid increased to $6,166,000 from $5,615,000, reflecting a commitment to returning value to shareholders[28]. - The company repurchased 93,212 shares of common stock during the nine months ended September 30, 2025, at a total cost of $3,334,000[23]. Loan Portfolio and Performance - The total loans, net of deferred loan fees and costs, were $3,643,619 as of September 30, 2025, slightly down from $3,648,299 at December 31, 2024[50]. - The total residential real estate loans were $904,089 as of September 30, 2025, compared to $879,362 at December 31, 2024[50]. - Total commercial and industrial loans increased to $6,105,000 in September 2025 from $3,487,000 in December 2024, a significant increase of 75.5%[77]. - Total consumer loans reached $1,362 million in 2025, compared to $3,072 million in 2024, indicating a significant decline of 55.6%[64]. Cash Flow and Investments - Net cash provided by operating activities increased to $51,604,000 from $40,667,000, reflecting a growth of 27% year-over-year[26]. - The company experienced a net cash inflow from investing activities of $33,195,000, a significant improvement compared to a net outflow of $16,194,000 in the previous year[26]. - Total cash and cash equivalents at the end of the period were $315,830,000, up from $293,477,000 in the previous year, marking an increase of 7.5%[28]. Market and Economic Conditions - The company granted payment deferrals of up to six months to customers affected by Hurricane Helene, totaling $136 million as of December 31, 2024[74]. - The company identified certain lines of credit as unconditionally cancellable credit exposures, meaning no credit loss estimate is reported for these exposures[91]. - The company modified loans for borrowers experiencing financial difficulty, including principal forgiveness, term extensions, payment delays, and interest rate adjustments[83].

Financial Performance - Net income for Q3 2025 was $16.5 million, a decrease of 4.2% from $17.2 million in Q2 2025[6] - Diluted earnings per share (EPS) were $0.95, down from $1.00 in the previous quarter, reflecting a year-over-year growth of 25%[3][6] - Net income for the nine months ended September 30, 2025, increased by $7.6 million, or 18.8%, totaling $48.2 million compared to the same period in 2024[19] - Basic net income per common share for the three months ended September 30, 2025, was $0.96, compared to $2.38 for the same period in 2024, reflecting a decrease of 59.7%[50] Income and Expenses - Total interest and dividend income for Q3 2025 increased by $1.8 million compared to Q2 2025, driven by a $1.3 million increase in loan interest income[10] - Noninterest income for Q3 2025 decreased by $1.4 million, or 13.8%, compared to Q2 2025, totaling $8.75 million[15] - Total interest and dividend income for the nine months ended September 30, 2025, decreased by $2.7 million, or 1.4%, driven by a $4.6 million decrease in interest income on loans[23] - Noninterest expense for Q3 2025 remained stable at $31.27 million, with a slight increase of $11,000 compared to Q2 2025[17] Asset and Liability Management - Total assets decreased by $3,300,000 to $4.6 billion, while total liabilities decreased by $47,400,000 to $4.0 billion as of September 30, 2025[35] - Total liabilities amounted to $3.996 billion as of September 30, 2025, slightly down from $3.998 billion in the previous quarter[47] - Deposits increased to $3.698 billion as of September 30, 2025, from $3.666 billion in the previous quarter[47] Credit Quality - Provision for credit losses increased to $2.0 million from $1.3 million in Q2 2025, marking a 55% increase[13] - Nonperforming assets increased by $4,400,000, or 15.2%, to $33,100,000, or 0.72% of total assets, at September 30, 2025[41] - Classified assets increased by $7,800,000, or 15.9%, to $56,600,000, or 1.23% of total assets, as of September 30, 2025[42] - Net loan charge-offs totaled $6,100,000 for the nine months ended September 30, 2025, down from $8,900,000 for the same period last year[39] Shareholder Value - Cash dividends declared were $0.13 per share, an 8.3% increase from the previous quarter's $0.12 per share[2] - Cash dividends declared per common share for the nine months ended September 30, 2025, were $0.36, up from $0.33 in the same period last year, indicating a commitment to returning value to shareholders[50] - Book value per share at the end of the period was $34.01, an increase from $30.83 a year earlier, reflecting growth in shareholder equity[50] Operational Efficiency - The efficiency ratio for the three months ended September 30, 2025, was 57.75%, an improvement from 60.39% in the same period last year, reflecting better cost management[52] - The adjusted efficiency ratio for the nine months ended September 30, 2025, was 58.69%, compared to 60.41% for the same period in 2024[58] Market Position and Strategy - The company is well-positioned to accelerate loan growth in future quarters due to a solid capital position and improvements in the yield curve[3] - HomeTrust Bancshares, Inc. has been recognized as one of the "Best U.S. Banks" and "America's Best Banks" by various financial institutions[44] - The company aims to continue its strategy of being a high-performing regional community bank while focusing on employee satisfaction and workplace culture[44]

Financial Performance - Net income for the three months ended June 30, 2025, was $17,210 thousand, up from $12,418 thousand in the same period of 2024, marking a significant increase of 38.5%[14] - Comprehensive income for the three months ended June 30, 2025, was $17,534 thousand, compared to $12,204 thousand for the same period in 2024, an increase of 43.7%[16] - Net income for the six months ended June 30, 2025, was $31,749,000, an increase from $27,485,000 in the same period of 2024, representing a growth of approximately 8.2%[23] - The company reported a diluted earnings per share of $1.00 for the three months ended June 30, 2025, compared to $0.73 for the same period in 2024, an increase of 37.0%[14] - Basic net income per share increased to $1.01 for the three months ended June 30, 2025, from $0.73 in the same period of 2024, reflecting a growth of 38.4%[119] Income and Expenses - Net interest income increased to $44,229 thousand for the three months ended June 30, 2025, compared to $42,446 thousand for the same period in 2024, reflecting a growth of 4.2%[14] - Total noninterest income rose to $10,157 thousand for the three months ended June 30, 2025, compared to $8,113 thousand in the same period of 2024, an increase of 25.3%[14] - Cash paid for interest during the period was $45.33 million, an increase from $43.01 million in the prior year[25] - The total charge-offs for the six months ended June 30, 2025, were $3,940,000, compared to $5,727,000 for the same period in 2024, indicating a reduction of 31.3%[76] Assets and Liabilities - Total assets decreased to $4,578,053 thousand as of June 30, 2025, from $4,595,430 thousand at December 31, 2024, representing a decline of 0.38%[12] - Total liabilities decreased to $3,998,779 thousand as of June 30, 2025, from $4,043,672 thousand at December 31, 2024, a decrease of 1.1%[12] - Total stockholders' equity as of June 30, 2025, was $579,274,000, compared to $523,628,000 as of June 30, 2024, reflecting an increase of approximately 10.6%[21] - The company’s retained earnings increased to $408,178 thousand as of June 30, 2025, up from $380,541 thousand at December 31, 2024, reflecting a growth of 7.3%[12] Credit Quality - Provision for credit losses decreased to $1,303 thousand for the three months ended June 30, 2025, compared to $4,260 thousand for the same period in 2024, indicating a reduction of 69.5%[14] - The provision for credit losses for the six months ended June 30, 2025, was $2,843,000, down from $5,425,000 in the same period of 2024, indicating improved credit quality[23] - The balance of the allowance for credit losses (ACL) at the end of June 30, 2025, was $44,139,000, down from $49,223,000 at the end of June 30, 2024[76] - The company retained all loans associated with the branches sold, which indicates a strategy to maintain loan assets while divesting non-core operations[35] Loans and Deposits - Deposits decreased to $3,666,178 thousand as of June 30, 2025, from $3,779,203 thousand at December 31, 2024, a decline of 3.0%[12] - The company experienced a net increase in loans of $20,433,000 during the six months ended June 30, 2025, compared to a net increase of $54,713,000 in 2024[23] - Total loans held for sale amounted to $169,835 thousand as of June 30, 2025, a decrease from $202,018 thousand as of December 31, 2024[45] - Total loans outstanding as of December 31, 2024, amounted to $3,648.3 million, with past due loans totaling $27.1 million[72] Strategic Initiatives - The company aims to enhance its market position through strategic initiatives and potential acquisitions in the upcoming fiscal year[1] - The company plans to update its income tax disclosures in accordance with ASU 2023-09, effective for annual reporting periods beginning after December 15, 2024[33] - The company has changed its fiscal year end from June 30 to December 31, with the transition period ending December 31, 2023[1] Market Conditions - The company is currently evaluating the income tax implications of the "One Big Beautiful Bill" signed into law on July 4, 2025, but does not expect a material impact on financial statements[138] - Management continues to monitor securities for impairment and evaluates the need for potential charges to earnings based on market conditions[43]

Financial Performance - Net income for Q2 2025 was $17.2 million, an increase of 18.4% from $14.5 million in Q1 2025, with diluted EPS rising to $1.00 from $0.84[6] - Net income for the six months ended June 30, 2025, totaled $31.7 million, or $1.84 per diluted share, representing a 15.5% increase from $27.5 million, or $1.61 per diluted share, for the same period in 2024[21] - Net income for the three months ended June 30, 2025, was $17.210 million, compared to $14.539 million for the previous quarter[50] Returns and Margins - The annualized return on assets (ROA) improved to 1.58% from 1.33%, and the annualized return on equity (ROE) increased to 11.97% from 10.52%[6] - The net interest margin expanded to 4.32% in Q2 2025, up from 4.18% in Q1 2025, driven by a $1.3 million increase in net interest income[6] Dividends and Share Repurchase - The company declared a quarterly cash dividend of $0.12 per share, totaling $2.1 million for the quarter, consistent with the previous quarter[6] - The company repurchased 78,412 shares of common stock at an average price of $35.74, compared to 14,800 shares at $33.64 in the prior quarter[6] Credit Quality - The provision for credit losses decreased to $1.3 million from $1.5 million in the previous quarter, reflecting improved credit quality[6] - Provision for credit losses for the six months ended June 30, 2025, was $2.843 million, down from $5.425 million in the same period in 2024[50] - Nonperforming assets increased by $1.7 million, or 6.1%, to $30.5 million, or 0.67% of total assets, at June 30, 2025[42] - Classified assets increased by $8.2 million, or 20.0%, to $48.8 million, or 1.07% of total assets, as of June 30, 2025[43] Income and Expenses - Noninterest income for the three months ended June 30, 2025, increased by $2.1 million, or 26.5%, compared to the previous quarter, totaling $10.157 million[16] - Noninterest income for the six months ended June 30, 2025, was $18.184 million, up from $16.924 million in the same period last year[50] - Noninterest expense for the three months ended June 30, 2025, increased by $294,000, or 0.9%, totaling $31.255 million[19] - Noninterest expense increased by $2.1 million, or 3.6%, from $60.619 million in June 30, 2024 to $62.216 million in June 30, 2025[32] Assets and Liabilities - Total assets decreased by $17.4 million to $4.6 billion, while total liabilities decreased by $44.9 million to $4.0 billion as of June 30, 2025[36] - Total liabilities stood at $3.999 billion as of June 30, 2025[48] - Total loans, net of deferred loan fees and costs, amounted to $3.672 billion as of June 30, 2025[48] - Deposits decreased to $3.666 billion as of June 30, 2025, from $3.736 billion in the previous quarter[48] Equity and Book Value - Stockholders' equity increased by $27.5 million to $579.3 million at June 30, 2025, driven by $31.8 million in net income[37] - Book value per share at the end of the period was $33.12, up from $32.21 in the previous quarter[51] - Tangible book value per share at the end of the period was $30.92, an increase from $30.00 in the previous quarter[51] - The tangible equity to tangible assets ratio improved to 11.91% as of June 30, 2025, up from 11.65% as of March 31, 2025[60] Recognition and Awards - HomeTrust Bancshares was recognized as one of Forbes' America's Best Banks for 2025 and included in the 2025 KBW Bank Honor Roll, highlighting its strong financial performance[4] - The company has been recognized as one of Bank Director's "Best U.S. Banks" and one of Forbes' "America's Best Banks"[45] Strategic Actions - The sale of two Knoxville branches was completed, aimed at tightening geographic footprint and reallocating capital for long-term growth[5] - HomeTrust Bancshares, Inc. aims to continue its strategy of being a high-performing regional community bank and a best place to work[45]

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents HomeTrust Bancshares, Inc.'s unaudited consolidated financial statements and detailed notes for the period [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets slightly decreased to **$4.56 billion**, while equity increased to **$565.4 million** as of March 31, 2025 Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | **$4,558,060** | **$4,595,430** | **-0.8%** | | Cash and cash equivalents | $299,825 | $279,219 | +7.4% | | Loans, net | $3,603,867 | $3,603,014 | +0.02% | | **Total Liabilities** | **$3,992,611** | **$4,043,672** | **-1.3%** | | Deposits | $3,736,360 | $3,779,203 | -1.1% | | Borrowings | $177,000 | $188,000 | -5.9% | | **Total Stockholders' Equity** | **$565,449** | **$551,758** | **+2.5%** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2025 was **$14.5 million**, a slight decrease due to higher expenses and credit loss provisions Consolidated Income Statement Summary (Unaudited) | Account | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | $42,907 | $41,230 | +4.1% | | Provision for credit losses | $1,540 | $1,165 | +32.2% | | Noninterest Income | $8,027 | $8,811 | -8.9% | | Noninterest Expense | $30,961 | $29,864 | +3.7% | | **Net Income** | **$14,539** | **$15,067** | **-3.5%** | | **Diluted EPS** | **$0.84** | **$0.88** | **-4.5%** | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for Q1 2025 increased to **$15.6 million**, driven by a **$1.1 million** unrealized gain on AFS debt securities Comprehensive Income Summary (Unaudited) | Account | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Net Income | $14,539 | $15,067 | | Total other comprehensive income (loss) | $1,085 | $(604) | | **Comprehensive Income** | **$15,624** | **$14,463** | [Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to **$565.4 million** at March 31, 2025, primarily due to **$14.5 million** in net income and **$1.1 million** in other comprehensive income - Key drivers for the change in stockholders' equity in Q1 2025 included net income of **$14.5 million**, cash dividends of **$2.1 million** (**$0.12/share**), and common stock repurchases of **$0.5 million**[20](index=20&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents increased by **$20.6 million** in Q1 2025, driven by operating and investing activities Cash Flow Summary (Unaudited) | Activity | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $71,689 | $(9,034) | | Net cash provided by investing activities | $5,648 | $48,147 | | Net cash used in financing activities | $(56,731) | $(5,760) | | **Net increase in cash and cash equivalents** | **$20,606** | **$33,353** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed disclosures for debt securities, loan portfolios, credit losses, deposits, borrowings, and fair value measurements Debt Securities Available for Sale (AFS) at Fair Value | Security Type | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | MBS, residential | $144,221 | $144,147 | | Municipal bonds | $1,888 | $3,396 | | Corporate bonds | $4,468 | $4,468 | | **Total AFS** | **$150,577** | **$152,011** | - At March 31, 2025, the company had gross unrealized losses of **$2.2 million** on its AFS debt securities, with the majority (**$2.1 million**) having been in a loss position for 12 months or more. Management does not believe a credit loss exists and does not intend to sell these securities[40](index=40&type=chunk)[41](index=41&type=chunk) Loan Portfolio Composition | Loan Category | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Commercial real estate | $1,803,494 | $1,806,365 | | Commercial | $892,805 | $888,543 | | Residential real estate | $888,142 | $879,362 | | Consumer | $64,168 | $74,029 | | **Total Loans** | **$3,648,609** | **$3,648,299** | Allowance for Credit Losses (ACL) - Loans | ACL Activity | Three Months Ended Mar 31, 2025 ($ in thousands) | | :--- | :--- | | Beginning Balance (Dec 31, 2024) | $45,285 | | Provision for credit losses | $800 | | Charge-offs | $(1,796) | | Recoveries | $453 | | **Ending Balance (Mar 31, 2025)** | **$44,742** | - Nonaccrual loans totaled **$27.0 million** at March 31, 2025, a slight decrease from **$27.7 million** at December 31, 2024[73](index=73&type=chunk) - As of March 31, 2025, the company had **$295.3 million** in available borrowing capacity from the FHLB and **$98.0 million** from the FRB, in addition to **$165.0 million** in unused lines of credit with other banks[96](index=96&type=chunk)[97](index=97&type=chunk)[178](index=178&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial results, highlighting net income of **$14.5 million**, improved net interest margin, and stable asset quality Q1 2025 vs Q4 2024 Financial Highlights | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net Income | $14.5 million | $14.2 million | | Diluted EPS | $0.84 | $0.83 | | Net Interest Margin | 4.18% | 4.09% | | Provision for Credit Losses | $1.5 million | ($0.86 million) benefit | | Annualized ROA | 1.33% | 1.27% | | Annualized ROE | 10.52% | 10.32% | - Net interest income decreased slightly by **$298,000** quarter-over-quarter, as a **$2.6 million** decrease in interest income (due to lower average loan balances and fewer days) was mostly offset by a **$2.3 million** decrease in interest expense (due to lower-cost funding mix and fewer days)[158](index=158&type=chunk)[159](index=159&type=chunk)[160](index=160&type=chunk) - The provision for credit losses was a **$1.5 million** expense in Q1 2025, a significant shift from the **$0.9 million** benefit in Q4 2024. The change was driven by a **$1.8 million** increase in the provision for loans and a **$0.6 million** increase for off-balance-sheet exposure[161](index=161&type=chunk) - Noninterest expense decreased by **$3.0 million** (**9.0%**) from the prior quarter, primarily due to a **$3.0 million** one-time contract renewal consulting fee that was present in Q4 2024 but not in Q1 2025[164](index=164&type=chunk)[169](index=169&type=chunk) - Asset quality remained stable, with nonperforming assets at **0.61%** of total assets at March 31, 2025, compared to **0.63%** at year-end 2024. The outstanding balance of Hurricane Helene-related payment deferrals decreased from **$136.0 million** to **$109.9 million** during the quarter[170](index=170&type=chunk)[172](index=172&type=chunk) - The company and the bank both exceeded all regulatory capital requirements and were categorized as **'well-capitalized'** as of March 31, 2025. The CET1 capital ratio for the company was **13.00%**[185](index=185&type=chunk)[186](index=186&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in the company's market risk disclosures since the 2024 Annual Report on Form 10-K - There has been no material change in the market risk disclosures contained in the 2024 Form 10-K[189](index=189&type=chunk) [Item 4. Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[190](index=190&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the quarter ended March 31, 2025[193](index=193&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) No pending legal proceedings are expected to materially adversely affect the company's financial condition or operations - The company is not a party to any pending legal proceedings that management believes would have a material adverse effect on its financial condition or operations[126](index=126&type=chunk)[194](index=194&type=chunk) [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) No material changes in the company's risk factors since the 2024 Annual Report on Form 10-K - There have been no material changes in the Risk Factors previously disclosed in the 2024 Form 10-K[195](index=195&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 2025, the company repurchased **14,800 shares** at **$33.64/share**, with **228,356 shares** remaining for repurchase Common Stock Repurchases - Q1 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2025 | 0 | $0.00 | | Feb 2025 | 0 | $0.00 | | Mar 2025 | 14,800 | $33.64 | | **Total** | **14,800** | **$33.64** | - As of March 31, 2025, **228,356 shares** remained authorized for repurchase under the existing plan[196](index=196&type=chunk) [Item 5. Other Information](index=44&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement in Q1 2025 - No director or officer adopted or terminated a Rule 10b5-1 trading plan during the first quarter of 2025[199](index=199&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO/CFO certifications and XBRL data

Financial Performance - Net income for Q1 2025 was $14.5 million, an increase of 2.3% from $14.2 million in Q4 2024[6] - Diluted earnings per share (EPS) rose to $0.84 from $0.83, reflecting a positive trend in profitability[6] - The annualized return on assets (ROA) improved to 1.33% compared to 1.27% in the previous quarter[6] - The annualized return on equity (ROE) increased to 10.52% from 10.32%[6] - The net interest margin expanded to 4.18%, up from 4.09%, indicating improved financial performance[6] - Net income for the three months ended March 31, 2025, was $14,539 thousand, an increase from $14,208 thousand in the previous quarter, reflecting a growth of 2.32%[32] - Basic net income per common share increased to $0.84 for the quarter ended March 31, 2025, compared to $0.83 in the previous quarter[33] Credit Losses and Asset Quality - Provision for credit losses was $1.5 million, a significant increase from a benefit of $855,000 in the prior quarter[6] - Net loan charge-offs totaled $1.3 million for Q1 2025, down from $1.9 million in Q4 2024[24] - Nonperforming assets decreased by $753,000, or 2.6%, to $28.0 million, or 0.61% of total assets[25] - The allowance for credit losses (ACL) on loans was $44.7 million, or 1.23% of total loans, at March 31, 2025[23] - The allowance for credit losses to total loans ratio was 1.23% as of March 31, 2025, slightly down from 1.24% in the previous quarter[37] - The ratio of classified assets to total assets decreased to 0.85% at March 31, 2025, from 1.06% at December 31, 2024[26] Income and Expenses - Total interest and dividend income decreased by $2.6 million, or 3.9%, primarily due to a $3.6 million decline in loan interest income[11] - Noninterest income for Q1 2025 decreased by $216,000, or 2.6%, to $8,027,000 compared to Q4 2024[16] - Total noninterest expense for Q1 2025 decreased by $3.0 million, or 9.0%, to $30,961,000 compared to Q4 2024[17] - Total interest expense decreased by $2.3 million, or 9.9%, due to a decline in the average balance of certificate accounts[12] - Total noninterest expense decreased to $30,961 thousand for the quarter, down from $34,009 thousand in the previous quarter, reflecting a reduction of 9.00%[32] Assets and Liabilities - Total assets decreased by $37.4 million to $4.6 billion, while total liabilities decreased by $51.1 million to $4.0 billion as of March 31, 2025[19] - Total assets decreased to $4,558,060 thousand as of March 31, 2025, down from $4,595,430 thousand at December 31, 2024, representing a decline of 0.82%[30] - Cash and cash equivalents totaled $299,825 thousand as of March 31, 2025, an increase from $279,219 thousand at December 31, 2024, representing a growth of 7.57%[30] - Total loans, net of deferred loan fees and costs, remained stable at $3,648,609 thousand as of March 31, 2025, compared to $3,648,299 thousand at December 31, 2024[30] - Total core deposits increased to $2,837,916 thousand as of March 31, 2025, up from $2,779,476 thousand at the end of 2024, reflecting a growth of 2.5%[40] - Total tangible assets were reported at $4,519,267 thousand as of March 31, 2025, down from $4,556,241 thousand in the previous quarter[42] Shareholder Returns - The company repurchased 14,800 shares of common stock at an average price of $33.64 during the quarter[6] - The company declared a quarterly cash dividend of $0.12 per share, totaling $2.1 million for both periods[2] Efficiency and Capital Ratios - The efficiency ratio decreased to 60.79% for the quarter, down from 66.10% in the previous quarter, indicating improved operational efficiency[35] - Tangible equity to tangible assets ratio improved to 11.65% as of March 31, 2025, compared to 11.25% in the previous quarter, indicating stronger capital efficiency[42] - Tangible book value increased to $526,656 thousand as of March 31, 2025, up from $512,569 thousand at the end of 2024, representing a growth of 2.1%[42] - Book value per share rose to $32.21 as of March 31, 2025, compared to $31.48 in the previous quarter, reflecting a 2.3% increase[42]

Financial Performance - As of December 31, 2024, HomeTrust Bancshares, Inc. had consolidated total assets of $4.6 billion, total deposits of $3.8 billion, and stockholders' equity of $551.8 million[24]. - Net income for the year ended December 31, 2024, was $54,805 thousand, an increase of 93.5% compared to $28,297 thousand in 2023[204]. - Net interest income after provision for credit losses rose to $161,130 thousand in 2024, up from $78,153 thousand in 2023, marking a growth of 106.4%[204]. - Total interest and dividend income surged to $261,616 thousand in 2024, compared to $124,684 thousand in 2023, an increase of 109.8%[204]. - The efficiency ratio improved to 61.68% in 2024 from 58.78% in 2023, indicating better cost management[208]. - The return on assets was 1.23% for the year ended December 31, 2024, slightly down from 1.27% in 2023[204]. - The net income per common share increased to $3.21 in 2024 from $1.67 in 2023, reflecting a growth of 92.3%[204]. Capital and Regulatory Compliance - The minimum required capital ratios for HomeTrust Bank include a CET1 capital ratio of 4.50%, a Tier 1 capital ratio of 6.00%, and a total capital ratio of 8.00%[74]. - As of December 31, 2024, HomeTrust Bank met the requirements to be classified as "well capitalized" and exceeded the capital conservation buffer requirement[77]. - HomeTrust Bancshares, Inc. exceeded its minimum regulatory capital requirements as of December 31, 2024[94]. - The Bank's lending limit is generally equal to 15% of unimpaired capital and surplus, which was $84.2 million as of December 31, 2024[65]. - The company is subject to federal regulatory requirements to maintain adequate levels of capital to support operations, impacting its ability to raise additional capital[181]. Loan Portfolio and Asset Quality - As of December 31, 2024, $630.4 million, or 17.3% of the total loan portfolio, was secured by one-to-four family residential loans[118]. - Commercial real estate loans totaled $1.8 billion, representing 49.5% of the total loan portfolio, with multifamily loans at $120.4 million or 3.3% of the total portfolio[127]. - Nonperforming assets increased to $28.8 million, or 0.63% of total assets, compared to $19.3 million, or 0.41% of total assets, at December 31, 2023[136]. - The allowance for credit losses (ACL) is subject to periodic reviews by bank regulatory agencies, which may require increases in provisions or charge-offs, potentially impacting net income and capital[135]. - The provision for credit losses was established to maintain the Allowance for Credit Losses (ACL) at a level that accounts for expected credit losses inherent in the loan portfolio[212]. Employee Engagement and Corporate Culture - In 2024, HomeTrust was recognized as a Best Bank to Work For by American Banker and one of America's Most Loved Workplaces by Newsweek, reflecting its commitment to employee engagement and culture[44]. - HomeTrust has implemented a behavior-based culture with 33 fundamentals introduced in 2022 to enhance employee engagement and align with corporate values[27]. Community Engagement - The Bank supports community initiatives through volunteerism and financial contributions, fostering strong relationships with clients and community partners[45]. Risk Management and Compliance - The company has established processes to manage various risks, including liquidity, credit, market, and operational risks, but there is no assurance that these measures will effectively mitigate all risks[161]. - Cybersecurity threats, including data breaches and fraud, pose significant risks to the company, potentially leading to financial losses and reputational damage[162]. - The financial services industry is experiencing a rise in electronic fraud and cyber-attacks, necessitating continuous monitoring and development of IT infrastructure[165]. - The company is continuously working to enhance its cybersecurity measures and employee training to mitigate risks associated with technology and data security[164]. Strategic Growth and Acquisitions - The Bank has expanded into eight attractive growth markets since 2013 through acquisitions and new office openings, enhancing its product lines[26]. - The company has completed six acquisitions in the past 12 years to enhance growth, but future acquisitions may expose it to financial and operational risks[154]. Dividend Policy - The company declared dividends of $0.45 per common share in 2024, up from $0.21 in 2023, representing a growth of 114.3%[205]. - The corporate dividends-received deduction for HomeTrust Bancshares, Inc. is 100% for dividends received from the Bank[102]. - The Bank's ability to pay dividends is limited if it does not have the required capital conservation buffer[90]. Market and Economic Conditions - Inflationary pressures have risen sharply, affecting the ability of business customers to repay loans, which may adversely impact the company's financial condition[116]. - Changes in federal and state regulations may impose significant limitations on operations and could adversely affect the company's financial condition[157]. Technology and Innovation - The company must keep pace with rapid technological changes in the financial services market to remain competitive, requiring substantial investments in technology[177]. - The increasing use of artificial intelligence in financial services introduces model risks and regulatory compliance challenges that the company must address[169].

HomeTrust Bancshares (HTBI) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this holding company for HomeTrust Bank is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation betwee ...