HomeTrust Bancshares(HTBI) - 2026 Q2 - Quarterly Results

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]