HomeTrust Bancshares(US:HTBI)2025-04-24 12:37Financial 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]