HomeTrust Bancshares, Inc. - HTBI STOCK NEWS

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.

HomeTrust Bancshares (NASDAQ: HTBI) has completed a 5% stock repurchase program, buying back 851,004 shares at an average price of $22.83. Following this completion, the Board authorized an additional repurchase of up to 825,941 shares, reflecting continued confidence in shareholder value. This move is intended to enhance earnings per share and demonstrate commitment to returning capital to shareholders amidst ongoing market conditions.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced that C. Hunter Westbrook will become President and Chief Executive Officer of HomeTrust Bank on September 1, 2021. Westbrook, who has been with HomeTrust since 2012, aims to enhance growth and customer service. His promotion follows a profitability improvement plan that includes $10 million in expected pre-tax income from recent strategic changes like branch closures and in-house loan servicing. Currently, HomeTrust has consolidated assets of $3.6 billion, up from $1.5 billion in 2012.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced plans to enhance profitability through strategic actions, including the closure of nine bank branches and restructuring its balance sheet by prepaying long-term borrowings. The initiatives aim to generate an estimated annual pre-tax income increase of $10.1 million, with significant reductions in expenses and interest costs. The company expects a boost in return on assets, equity, and diluted earnings per share. Although the branch closures will incur a pre-tax charge of $1.5 million, overall, these moves are designed to improve operational efficiency and shareholder value.

HomeTrust Bancshares (NASDAQ: HTBI) reported third-quarter fiscal 2021 preliminary net income of $7.9 million, up from $1.2 million year-over-year. Diluted earnings per share reached $0.48 compared to $0.07 previously. The company's return on assets improved to 0.84% from 0.14%, while return on equity rose to 7.78% from 1.15%. Noninterest income surged 67.5% to $10.7 million. The board declared a quarterly cash dividend of $0.08 per share. Despite a 2.9% decline in total loans, total deposits increased by 4.4% to $2.9 billion.