HomeTrust Bancshares(HTBI) - 2025 Q4 - Annual Results

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]