Welcome to our dedicated page for Hometrust Bancshares news (Ticker: HTBI), a resource for investors and traders seeking the latest updates and insights on Hometrust Bancshares stock.
HomeTrust Bancshares, Inc. (HTBI), the holding company for HomeTrust Bank, regularly issues news and updates that reflect its role as a regional, community-focused financial institution based in Asheville, North Carolina. This news page aggregates company press releases and third-party coverage so readers can review the latest information related to the bank’s operations, performance, and strategic decisions.
According to its public communications, HomeTrust Bancshares frequently reports quarterly and annual financial results, including net income, earnings per share, net interest margin, and provisions for credit losses under the current expected credit losses model. These earnings releases also discuss changes in loan and deposit balances, noninterest income categories such as service charges, gains on loan sales, bank owned life insurance income, and operating lease income, as well as trends in funding costs and asset yields.
News items also cover corporate actions and strategic initiatives. Examples disclosed by the company include the merger of Quantum Capital Corp. into HomeTrust Bancshares, adjustments to business lines such as ceasing indirect auto originations and right-sizing mortgage banking, restructurings of the bank owned life insurance portfolio, stock repurchase authorizations, and changes in the company’s fiscal year end. The bank has also announced recognition in external rankings, including S&P Global Market Intelligence’s Top 50 Community Banks list and Forbes’ America’s Best Banks list.
Readers can also find updates on leadership and technology, such as the appointment of a Director of Digital Strategy and a Chief Technology Officer, reflecting the bank’s focus on digital channels and technology infrastructure. Other releases address branch and market decisions, including a definitive agreement to sell two Knoxville, Tennessee branches, and the planned transfer of the company’s stock listing from NASDAQ under the ticker HTBI to the New York Stock Exchange under the symbol HTB.
Investors and followers of HTBI can use this news feed to review the company’s reported financial performance, strategic moves, market footprint developments, and technology and leadership announcements over time.
HomeTrust Bancshares (NASDAQ: HTBI) announced a definitive merger agreement with Quantum Capital Corp. valued at approximately $67.6 million. Quantum, the holding company for Quantum National Bank, is a $660 million asset bank recognized for its small business lending. The merger aims to enhance HomeTrust's profitability and accelerate growth in the Atlanta market. HomeTrust anticipates over 20% EPS accretion post-merger, with an expected 7.5% dilution in tangible book value and a recovery period of under 2.5 years.
The Board of Directors of HomeTrust Bancshares announced C. Hunter Westbrook will become CEO on September 1, 2022, succeeding Dana L. Stonestreet, who transitions to Executive Chairman. Stonestreet has been with HomeTrust for 33 years, growing assets from $1.5 billion to $3.5 billion. Westbrook's promotion follows a strategic succession plan designed by Stonestreet. Westbrook has held various leadership roles since joining HomeTrust in 2012 and aims to enhance shareholder value through financial performance and customer experience improvements.
The board of HomeTrust Bancshares (NASDAQ: HTBI) appointed Megan Pelletier as Executive Vice President and Chief People Officer effective May 2, 2022. Pelletier brings nearly 20 years of experience in the banking and financial sectors, particularly in human resources and operational roles. She will focus on HR initiatives, employee engagement, and diversity, aiming to enhance talent acquisition and retention. Hunter Westbrook, CEO, expressed confidence in Pelletier's skills to improve employee experience and support company growth amid current economic uncertainties.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) reported a net income of $8.0 million for Q3 2022, a slight increase from $7.9 million in Q3 2021. Diluted EPS rose to $0.51 from $0.48. Total assets increased to $3.5 billion, with deposits up 3.5%, totaling $3.1 billion. Noninterest income decreased to $8.9 million, impacted by lower loan sale gains. The Board declared a quarterly dividend of $0.09 per share. The company's credit quality improved, with nonperforming assets down 54.6% year-over-year. HTBI remains well-capitalized with robust commercial loan growth.
HomeTrust Bancshares, Inc. (NASDAQ: HTBI) has completed its 5% stock repurchase program initiated in July 2021, repurchasing 825,941 shares at an average price of $29.63 each. The company’s Board has authorized an additional buyback of 806,000 shares, also representing about 5% of outstanding shares. These shares may be acquired through open market transactions or privately negotiated deals, depending on market factors. As of December 31, 2021, HomeTrust held assets totaling $3.5 billion, operating over 30 locations across North Carolina, South Carolina, Tennessee, and Virginia.
HomeTrust Bancshares (HTBI) reported a significant increase in net income for Q2 FY2022, reaching $11.1 million, up from $9.5 million a year prior. Diluted EPS rose to $0.68 from $0.57. ROA improved to 1.24%, while ROE increased to 11.02%. Noninterest income grew 8.9% to $10.2 million, and net commercial loan growth, excluding PPP loans, was $41.9 million, marking an annualized increase of 8.6%. The company also declared a quarterly dividend of $0.09 per share, a 12.5% increase. Assets totaled $3.5 billion, reflecting a focus on maintaining credit quality and growth.
HomeTrust Bancshares (HTBI) reported strong preliminary net income of $10.5 million for Q1 fiscal 2022, up from $5.8 million a year prior, with diluted EPS reaching $0.65. The annualized ROA improved to 1.20% and ROE to 10.62%. Noninterest income rose by 19.8% to $10.4 million. The board declared a quarterly dividend of $0.09, increasing by 12.5%. Loan losses provided a net benefit of $1.5 million. Total assets declined by $43.4 million to $3.5 billion as of September 30, 2021.
HomeTrust Bank has been named the Best Small Bank in North Carolina for 2021 by Newsweek, marking its second consecutive year receiving this honor. This accolade was achieved through a rigorous evaluation of over 2,500 FDIC-insured banks based on 55 factors assessing customer service and overall offerings. HomeTrust Bank has reported total consolidated assets of $3.5 billion as of June 30, 2021. The bank's commitment to customer satisfaction and digital capabilities has significantly contributed to its recognition.
HomeTrust Bancshares (NASDAQ: HTBI) announced its annual meeting of stockholders will occur on November 15, 2021, at 10:00 a.m. in Asheville, North Carolina. As of June 30, 2021, the company had assets totaling $3.5 billion. HomeTrust, the second-largest publicly traded community bank holding company in North Carolina, provides relationship banking across its 40+ locations and online platforms. The press release includes forward-looking statements about the company's future, citing risks such as the COVID-19 pandemic and economic fluctuations affecting credit quality and operations.
HomeTrust Bancshares (NASDAQ: HTBI) reported a preliminary net loss of $7.4 million for Q4 2021, influenced by $19 million in prepayment penalties for early borrowing retirements and $1.5 million in branch closure costs. Adjusted net income rose to $8.3 million, up from $3.6 million year-over-year. Despite challenges, noninterest income surged 54.5% to $11.2 million, while organic net loan growth increased 11.9% to $76.7 million. For the fiscal year, net income totaled $15.7 million, down from $22.8 million, reflecting a continued focus on strategic profitability enhancements.
FAQ
What is the current stock price of Hometrust Bancshares (HTBI)?
What is the market cap of Hometrust Bancshares (HTBI)?
