HomeTrust Bancshares(US:HTBI)2025-11-06 21:26Financial 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].