HomeTrust Bancshares, Inc. Announces Financial Results for the Second Quarter of the Year Ending December 31, 2024 and Declaration of a Quarterly Dividend

Financial Performance - For the quarter ended June 30, 2024, net income increased to $27.5 million from $21.8 million in the previous quarter, with diluted EPS rising from $1.30 to $1.61 [1][9] - Annualized ROA improved to 1.25% from 1.06%, while annualized ROE increased to 10.73% from 9.65% [1][24] - Net interest margin decreased to 4.05% from 4.43%, and the provision for credit losses dropped to $5.4 million from $9.2 million [1][5] Noninterest Income and Expense - Noninterest income for the quarter decreased by $698,000, or 7.9%, compared to the previous quarter [8] - Noninterest expense decreased by $346,000, or 1.2%, compared to the previous quarter [9] Interest Income and Expense - Total interest and dividend income for the six months ended June 30, 2024, increased by $19.0 million, or 17.3%, compared to the same period in 2023 [10] - Total interest expense for the three months ended June 30, 2024, increased by $1.1 million, or 5.1%, due to higher average costs of funds and balances across interest-bearing deposits [5] Asset Quality - The provision for credit losses for the six months ended June 30, 2024, was $5.4 million, a decrease of 41% compared to $9.3 million for the same period in 2023 [36][43] - Net loan charge-offs totaled $4.9 million for the six months ended June 30, 2024, compared to $1.3 million for the same period last year, primarily concentrated in the equipment finance portfolio [43] Stockholders' Equity - Stockholders' equity increased by $23.7 million to $523.6 million at June 30, 2024, driven by net income of $27.5 million, partially offset by $3.7 million in cash dividends declared [42]