HomeTrust Bancshares, Inc. Announces Financial Results for Q1 2025
HomeTrust Bancshares, Inc., the holding company of HomeTrust Bank, has released its financial results for the first quarter ending March 31, 2025. The company reported a solid performance with notable improvements in key financial metrics and strategic initiatives aimed at enhancing shareholder value.
Financial Highlights
For the quarter ended March 31, 2025, HomeTrust Bancshares reported a net income of $14.5 million, a slight increase from $14.2 million in the previous quarter. Diluted earnings per share (EPS) rose to $0.84 from $0.83. The company's net interest margin expanded to 4.18%, up from 4.09% in the prior quarter, reflecting a reduction in funding costs that outpaced a slight decline in asset yields.
Other key financial metrics include:
- Annualized return on assets (ROA) increased to 1.33% from 1.27%.
- Annualized return on equity (ROE) improved to 10.52% from 10.32%.
- Provision for credit losses was $1.5 million, compared to a benefit of $855,000 in the previous quarter.
- Quarterly cash dividends remained steady at $0.12 per share, totaling $2.1 million for both periods.
- 14,800 shares of company common stock were repurchased at an average price of $33.64.
Business and Operational Highlights
During the first quarter, HomeTrust Bancshares transitioned its common stock listing to the New York Stock Exchange under the ticker 'HTB'. The company also announced the sale of two branches and its exit from Knoxville, Tennessee, aiming to tighten its geographic footprint and improve branch efficiencies.
Net interest income for the quarter was $42.9 million, slightly down from $43.2 million in the previous quarter. The decrease was driven by a decline in loan interest income and fewer days in the current quarter. Noninterest income decreased by $216,000, primarily due to a reduction in operating lease income.
Strategic Initiatives and Corporate Developments
The Board of Directors declared a quarterly cash dividend of $0.12 per common share, payable on May 29, 2025, to shareholders of record as of May 15, 2025. The company also repurchased 14,800 shares of its common stock during the quarter.
HomeTrust Bancshares continues to focus on financial performance rather than loan growth for the sake of growth. The company is committed to working with customers to provide necessary banking support amid economic turbulence.
Management's Perspective
Hunter Westbrook, President and CEO, expressed satisfaction with the company's strong financial results, highlighting the expansion of the net interest margin and the strategic initiatives undertaken to enhance long-term growth. He emphasized the company's conservative approach to risk management and its resilience in the face of economic uncertainty.
Future Outlook
Looking ahead, HomeTrust Bancshares does not anticipate a significant impact on its business from recent economic turbulence. The company remains focused on maintaining a strong balance sheet and supporting long-term growth in its core markets.
SEC Filing: HomeTrust Bancshares, Inc. [ HTBI ] - 8-K - Apr. 24, 2025