Core Viewpoint - U.S. stock futures are lower, with Intel Corp experiencing a significant drop in pre-market trading despite reporting better-than-expected fourth-quarter results, due to a weak outlook for the upcoming quarter [1]. Group 1: Intel Corp - Intel expects first-quarter revenue to be between $11.7 billion and $12.7 billion, below the estimate of $12.49 billion [2]. - The company anticipates breakeven adjusted earnings for the first quarter, contrasting with the estimate of five cents per share [2]. - Intel shares fell 13.1% to $47.19 in pre-market trading following the announcement [2]. Group 2: Other Stocks - Ambitions Enterprise Management Co LLC shares dropped 19.1% to $30.05 after a 42% gain on Thursday [3]. - Korea Electric Power Corp shares decreased by 7.1% to $20.94 after a 3% decline on Thursday [3]. - New Era Energy & Digital Inc shares fell 6% to $7.58 in pre-market trading [3]. - United Microelectronics Corp shares declined 5.5% to $10.30 [3]. - Rich Sparkle Holdings Ltd shares fell 5.1% to $50.00 [3]. - Nexxen International Ltd – ADR shares decreased by 5% to $6.20 [3]. - Hometrust Bancshares Inc shares fell 5% to $42.02 despite posting upbeat quarterly earnings [3]. - Capital One Financial Corp shares declined 3.3% to $227.30 after reporting worse-than-expected fourth-quarter adjusted EPS results [3].

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].

Core Viewpoint - HomeTrust Bancshares (HTBI) is positioned as a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2] Earnings Estimates - Analysts are optimistic about HomeTrust Bancshares' earnings prospects, leading to higher estimates that are expected to positively impact the stock price [2] - The consensus earnings estimate for the current quarter is $0.74 per share, reflecting a decrease of 15.91% from the previous year, but has increased by 7.3% over the last 30 days with no negative revisions [4] - For the full year, the expected earnings are $3.02 per share, indicating a year-over-year decline of 5.63%, yet the consensus estimate has risen by 6.16% recently, with two estimates moving higher and no negative revisions [5] Zacks Rank - HomeTrust Bancshares currently holds a Zacks Rank 1 (Strong Buy), indicating strong potential for outperformance based on earnings estimate revisions [6] - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 2008, suggesting a reliable investment strategy [3][6] Stock Performance - The stock has appreciated by 9.2% over the past four weeks, indicating investor confidence in the company's earnings growth prospects [7]