Financial Performance - Net income for the three months ended June 30, 2025, was $17,210 thousand, up from $12,418 thousand in the same period of 2024, marking a significant increase of 38.5%[14] - Comprehensive income for the three months ended June 30, 2025, was $17,534 thousand, compared to $12,204 thousand for the same period in 2024, an increase of 43.7%[16] - Net income for the six months ended June 30, 2025, was $31,749,000, an increase from $27,485,000 in the same period of 2024, representing a growth of approximately 8.2%[23] - The company reported a diluted earnings per share of $1.00 for the three months ended June 30, 2025, compared to $0.73 for the same period in 2024, an increase of 37.0%[14] - Basic net income per share increased to $1.01 for the three months ended June 30, 2025, from $0.73 in the same period of 2024, reflecting a growth of 38.4%[119] Income and Expenses - Net interest income increased to $44,229 thousand for the three months ended June 30, 2025, compared to $42,446 thousand for the same period in 2024, reflecting a growth of 4.2%[14] - Total noninterest income rose to $10,157 thousand for the three months ended June 30, 2025, compared to $8,113 thousand in the same period of 2024, an increase of 25.3%[14] - Cash paid for interest during the period was $45.33 million, an increase from $43.01 million in the prior year[25] - The total charge-offs for the six months ended June 30, 2025, were $3,940,000, compared to $5,727,000 for the same period in 2024, indicating a reduction of 31.3%[76] Assets and Liabilities - Total assets decreased to $4,578,053 thousand as of June 30, 2025, from $4,595,430 thousand at December 31, 2024, representing a decline of 0.38%[12] - Total liabilities decreased to $3,998,779 thousand as of June 30, 2025, from $4,043,672 thousand at December 31, 2024, a decrease of 1.1%[12] - Total stockholders' equity as of June 30, 2025, was $579,274,000, compared to $523,628,000 as of June 30, 2024, reflecting an increase of approximately 10.6%[21] - The company’s retained earnings increased to $408,178 thousand as of June 30, 2025, up from $380,541 thousand at December 31, 2024, reflecting a growth of 7.3%[12] Credit Quality - Provision for credit losses decreased to $1,303 thousand for the three months ended June 30, 2025, compared to $4,260 thousand for the same period in 2024, indicating a reduction of 69.5%[14] - The provision for credit losses for the six months ended June 30, 2025, was $2,843,000, down from $5,425,000 in the same period of 2024, indicating improved credit quality[23] - The balance of the allowance for credit losses (ACL) at the end of June 30, 2025, was $44,139,000, down from $49,223,000 at the end of June 30, 2024[76] - The company retained all loans associated with the branches sold, which indicates a strategy to maintain loan assets while divesting non-core operations[35] Loans and Deposits - Deposits decreased to $3,666,178 thousand as of June 30, 2025, from $3,779,203 thousand at December 31, 2024, a decline of 3.0%[12] - The company experienced a net increase in loans of $20,433,000 during the six months ended June 30, 2025, compared to a net increase of $54,713,000 in 2024[23] - Total loans held for sale amounted to $169,835 thousand as of June 30, 2025, a decrease from $202,018 thousand as of December 31, 2024[45] - Total loans outstanding as of December 31, 2024, amounted to $3,648.3 million, with past due loans totaling $27.1 million[72] Strategic Initiatives - The company aims to enhance its market position through strategic initiatives and potential acquisitions in the upcoming fiscal year[1] - The company plans to update its income tax disclosures in accordance with ASU 2023-09, effective for annual reporting periods beginning after December 15, 2024[33] - The company has changed its fiscal year end from June 30 to December 31, with the transition period ending December 31, 2023[1] Market Conditions - The company is currently evaluating the income tax implications of the "One Big Beautiful Bill" signed into law on July 4, 2025, but does not expect a material impact on financial statements[138] - Management continues to monitor securities for impairment and evaluates the need for potential charges to earnings based on market conditions[43]

Core Viewpoint - HomeTrust Bancshares (HTB) has experienced a bearish trend recently, losing 6.3% over the past week, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, with selling pressure likely subsiding, which could lead to a bullish trend for HTB [2][5]. - A hammer pattern forms when there is a small candle body with a long lower wick, signaling that bears may be losing control and bulls are starting to gain traction [4][5]. - This pattern can appear on various timeframes and is utilized by both short-term and long-term investors [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for HTB, which is a bullish indicator suggesting potential price appreciation [7]. - The consensus EPS estimate for HTB has increased by 7.9% over the last 30 days, indicating strong agreement among analysts regarding improved earnings potential [8]. - HTB currently holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, which typically outperform the market [9][10].

Group 1: Company Highlights - Celestica (CLS) is one of the largest electronics manufacturing services companies globally, serving various industries, with a 9.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - SB Financial Group (SBFG) is a financial services holding company providing a full range of services for consumers and small businesses, also experiencing a 9.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - HomeTrust Bancshares (HTB) focuses on attracting deposits and investing in loans secured by mortgages, with a 7.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Houlihan Lokey (HLI) is a global investment bank specializing in mergers and acquisitions, with a 6.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4] - Udemy (UDMY) offers online courses across various subjects, with a 4.7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [5]

Core Insights - HomeTrust Bancshares (HTB) is experiencing solid improvement in earnings estimates, which may lead to continued short-term price momentum [1][2] - Analysts are optimistic about the earnings prospects of HomeTrust Bancshares, driving higher estimates that are expected to reflect positively in the stock price [2][3] Current-Quarter Estimate Revisions - For the current quarter, HomeTrust Bancshares is expected to earn $0.85 per share, reflecting an increase of +11.8% from the previous year [6] - The Zacks Consensus Estimate for the company has risen by 10.39% over the last 30 days, with one estimate increasing and no negative revisions [6] Current-Year Estimate Revisions - The full-year earnings estimate stands at $3.33 per share, indicating a change of +4.1% from the prior year [7] - The consensus estimate has increased by 5.27% over the past month, supported by one upward revision and no negative changes [8] Favorable Zacks Rank - HomeTrust Bancshares currently holds a Zacks Rank 2 (Buy), indicating promising estimate revisions that could lead to effective investment decisions [9] - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500 [9] Bottom Line - Strong estimate revisions have led to a 9.1% increase in the stock price over the past four weeks, suggesting potential for further upside [10]

Core Viewpoint - HomeTrust Bancshares (HTB) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The Zacks rating upgrade reflects an improvement in HomeTrust Bancshares' earnings outlook, which is expected to positively impact its stock price [4][6]. - For the fiscal year ending December 2025, HomeTrust Bancshares is projected to earn $3.33 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 3.9% over the past three months [9]. Impact of Earnings Estimate Revisions - There is a strong correlation between earnings estimate revisions and near-term stock price movements, making it beneficial for investors to track these revisions [7]. - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - HomeTrust Bancshares' upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].

分组1 - HomeTrust Bancshares reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and showing an increase from $0.73 per share a year ago, resulting in an earnings surprise of +21.95% [1] - The company achieved revenues of $54.39 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 8.30%, and up from $50.28 million year-over-year [2] - HomeTrust Bancshares has outperformed the S&P 500, with shares increasing by about 16.1% since the beginning of the year compared to the S&P 500's gain of 7.2% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.77 on revenues of $51.11 million, and for the current fiscal year, it is $3.16 on revenues of $203.98 million [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 16% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

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]

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents HomeTrust Bancshares, Inc.'s unaudited consolidated financial statements and detailed notes for the period [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets slightly decreased to **$4.56 billion**, while equity increased to **$565.4 million** as of March 31, 2025 Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | **$4,558,060** | **$4,595,430** | **-0.8%** | | Cash and cash equivalents | $299,825 | $279,219 | +7.4% | | Loans, net | $3,603,867 | $3,603,014 | +0.02% | | **Total Liabilities** | **$3,992,611** | **$4,043,672** | **-1.3%** | | Deposits | $3,736,360 | $3,779,203 | -1.1% | | Borrowings | $177,000 | $188,000 | -5.9% | | **Total Stockholders' Equity** | **$565,449** | **$551,758** | **+2.5%** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2025 was **$14.5 million**, a slight decrease due to higher expenses and credit loss provisions Consolidated Income Statement Summary (Unaudited) | Account | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | $42,907 | $41,230 | +4.1% | | Provision for credit losses | $1,540 | $1,165 | +32.2% | | Noninterest Income | $8,027 | $8,811 | -8.9% | | Noninterest Expense | $30,961 | $29,864 | +3.7% | | **Net Income** | **$14,539** | **$15,067** | **-3.5%** | | **Diluted EPS** | **$0.84** | **$0.88** | **-4.5%** | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for Q1 2025 increased to **$15.6 million**, driven by a **$1.1 million** unrealized gain on AFS debt securities Comprehensive Income Summary (Unaudited) | Account | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Net Income | $14,539 | $15,067 | | Total other comprehensive income (loss) | $1,085 | $(604) | | **Comprehensive Income** | **$15,624** | **$14,463** | [Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to **$565.4 million** at March 31, 2025, primarily due to **$14.5 million** in net income and **$1.1 million** in other comprehensive income - Key drivers for the change in stockholders' equity in Q1 2025 included net income of **$14.5 million**, cash dividends of **$2.1 million** (**$0.12/share**), and common stock repurchases of **$0.5 million**[20](index=20&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents increased by **$20.6 million** in Q1 2025, driven by operating and investing activities Cash Flow Summary (Unaudited) | Activity | Three Months Ended Mar 31, 2025 ($ in thousands) | Three Months Ended Mar 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $71,689 | $(9,034) | | Net cash provided by investing activities | $5,648 | $48,147 | | Net cash used in financing activities | $(56,731) | $(5,760) | | **Net increase in cash and cash equivalents** | **$20,606** | **$33,353** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed disclosures for debt securities, loan portfolios, credit losses, deposits, borrowings, and fair value measurements Debt Securities Available for Sale (AFS) at Fair Value | Security Type | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | MBS, residential | $144,221 | $144,147 | | Municipal bonds | $1,888 | $3,396 | | Corporate bonds | $4,468 | $4,468 | | **Total AFS** | **$150,577** | **$152,011** | - At March 31, 2025, the company had gross unrealized losses of **$2.2 million** on its AFS debt securities, with the majority (**$2.1 million**) having been in a loss position for 12 months or more. Management does not believe a credit loss exists and does not intend to sell these securities[40](index=40&type=chunk)[41](index=41&type=chunk) Loan Portfolio Composition | Loan Category | March 31, 2025 ($ in thousands) | December 31, 2024 ($ in thousands) | | :--- | :--- | :--- | | Commercial real estate | $1,803,494 | $1,806,365 | | Commercial | $892,805 | $888,543 | | Residential real estate | $888,142 | $879,362 | | Consumer | $64,168 | $74,029 | | **Total Loans** | **$3,648,609** | **$3,648,299** | Allowance for Credit Losses (ACL) - Loans | ACL Activity | Three Months Ended Mar 31, 2025 ($ in thousands) | | :--- | :--- | | Beginning Balance (Dec 31, 2024) | $45,285 | | Provision for credit losses | $800 | | Charge-offs | $(1,796) | | Recoveries | $453 | | **Ending Balance (Mar 31, 2025)** | **$44,742** | - Nonaccrual loans totaled **$27.0 million** at March 31, 2025, a slight decrease from **$27.7 million** at December 31, 2024[73](index=73&type=chunk) - As of March 31, 2025, the company had **$295.3 million** in available borrowing capacity from the FHLB and **$98.0 million** from the FRB, in addition to **$165.0 million** in unused lines of credit with other banks[96](index=96&type=chunk)[97](index=97&type=chunk)[178](index=178&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial results, highlighting net income of **$14.5 million**, improved net interest margin, and stable asset quality Q1 2025 vs Q4 2024 Financial Highlights | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net Income | $14.5 million | $14.2 million | | Diluted EPS | $0.84 | $0.83 | | Net Interest Margin | 4.18% | 4.09% | | Provision for Credit Losses | $1.5 million | ($0.86 million) benefit | | Annualized ROA | 1.33% | 1.27% | | Annualized ROE | 10.52% | 10.32% | - Net interest income decreased slightly by **$298,000** quarter-over-quarter, as a **$2.6 million** decrease in interest income (due to lower average loan balances and fewer days) was mostly offset by a **$2.3 million** decrease in interest expense (due to lower-cost funding mix and fewer days)[158](index=158&type=chunk)[159](index=159&type=chunk)[160](index=160&type=chunk) - The provision for credit losses was a **$1.5 million** expense in Q1 2025, a significant shift from the **$0.9 million** benefit in Q4 2024. The change was driven by a **$1.8 million** increase in the provision for loans and a **$0.6 million** increase for off-balance-sheet exposure[161](index=161&type=chunk) - Noninterest expense decreased by **$3.0 million** (**9.0%**) from the prior quarter, primarily due to a **$3.0 million** one-time contract renewal consulting fee that was present in Q4 2024 but not in Q1 2025[164](index=164&type=chunk)[169](index=169&type=chunk) - Asset quality remained stable, with nonperforming assets at **0.61%** of total assets at March 31, 2025, compared to **0.63%** at year-end 2024. The outstanding balance of Hurricane Helene-related payment deferrals decreased from **$136.0 million** to **$109.9 million** during the quarter[170](index=170&type=chunk)[172](index=172&type=chunk) - The company and the bank both exceeded all regulatory capital requirements and were categorized as **'well-capitalized'** as of March 31, 2025. The CET1 capital ratio for the company was **13.00%**[185](index=185&type=chunk)[186](index=186&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in the company's market risk disclosures since the 2024 Annual Report on Form 10-K - There has been no material change in the market risk disclosures contained in the 2024 Form 10-K[189](index=189&type=chunk) [Item 4. Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[190](index=190&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the quarter ended March 31, 2025[193](index=193&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) No pending legal proceedings are expected to materially adversely affect the company's financial condition or operations - The company is not a party to any pending legal proceedings that management believes would have a material adverse effect on its financial condition or operations[126](index=126&type=chunk)[194](index=194&type=chunk) [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) No material changes in the company's risk factors since the 2024 Annual Report on Form 10-K - There have been no material changes in the Risk Factors previously disclosed in the 2024 Form 10-K[195](index=195&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 2025, the company repurchased **14,800 shares** at **$33.64/share**, with **228,356 shares** remaining for repurchase Common Stock Repurchases - Q1 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2025 | 0 | $0.00 | | Feb 2025 | 0 | $0.00 | | Mar 2025 | 14,800 | $33.64 | | **Total** | **14,800** | **$33.64** | - As of March 31, 2025, **228,356 shares** remained authorized for repurchase under the existing plan[196](index=196&type=chunk) [Item 5. Other Information](index=44&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement in Q1 2025 - No director or officer adopted or terminated a Rule 10b5-1 trading plan during the first quarter of 2025[199](index=199&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO/CFO certifications and XBRL data

Core Insights - HomeTrust Bancshares, Inc. has been recognized as one of Forbes' America's Best Banks for 2025 and ranked as a Top 50 Community Bank in the 2024 S&P Global Market Intelligence annual rankings, marking the second consecutive year of such recognition [1][2] - The company was included in the 2025 KBW Bank Honor Roll, with only 5% of eligible banks achieving this status based on their earnings growth over the past decade [2] - HomeTrust has been re-certified as a Most Loved Workplace® and recognized as a Best Place to Work in all five states it serves over the past two years [2] Company Overview - As of March 31, 2025, HomeTrust Bancshares, Inc. had total assets of $4.6 billion [4] - The bank operates over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia, focusing on community banking and relationship-based services [4] Leadership Perspective - C. Hunter Westbrook, President & CEO, emphasized the importance of continuous improvement and creating a workplace culture that fosters engagement and belonging among team members [3]

Financial 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]