HomeTrust Bancshares, Inc. - HTBI STOCK NEWS

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.

The board of directors of HomeTrust Bancshares (NASDAQ: HTBI) announced Anna Marie Smith as the new Chief Human Resources Officer (CHRO) effective March 29, 2021. In her role, she will oversee diversity initiatives, employee engagement, and traditional HR functions. With over 25 years of experience, Smith previously worked at Wells Fargo and Forsyth Tech Community College. Chairman Dana Stonestreet expressed confidence in her ability to enhance employee engagement and satisfaction. HomeTrust Bancshares, with assets of $3.7 billion, operates over 40 locations across North Carolina, South Carolina, Tennessee, and Virginia.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) reported preliminary net income of $9.5 million for Q2 fiscal 2021, a slight increase from $9.2 million a year earlier. Diluted EPS rose to $0.57 from $0.52. The bank's ROA improved to 1.03%, and ROE rose to 9.41%. A net benefit of $3.0 million in credit loss provisions was noted, compared to a provision of $400,000 previously. Noninterest income increased by 3% to $9.3 million. The quarterly cash dividend was raised by 14.3% to $0.08 per share. Despite a strong performance in loan originations, ongoing challenges from COVID-19 and lower interest rates affected overall financial results.

HomeTrust Bancshares (NASDAQ: HTBI) announced preliminary financial results for Q1 FY2021, revealing net income of $5.8 million, down from $8.8 million year-over-year. Diluted EPS decreased to $0.35 from $0.49, with ROA at 0.62% and ROE at 5.74%. Despite a challenging economic environment due to COVID-19, noninterest income rose by 12.8% to $8.6 million. The company declared a quarterly dividend of $0.08 per share, marking a 14% increase. Loan growth was modest at $10.4 million, while the provision for credit losses was $950,000, reflecting ongoing COVID impact.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced that C. Hunter Westbrook has been appointed President and Chief Operating Officer of HomeTrust Bank, effective October 28, 2020. Westbrook, a banking veteran since 2012, has played a key role in expanding the bank's services from three to ten lines of business and its market presence across four states. Chairman Dana L. Stonestreet praised Westbrook's leadership in enhancing shareholder value and customer experience. The bank's total consolidated assets were reported at $3.7 billion as of June 30, 2020.

HomeTrust Bancshares has appointed Rebekah M. Lowe to its Board of Directors, effective September 1, 2020. Ms. Lowe, previously an Advisory Director since January 2020, has extensive banking experience, including serving as Regional President at Wachovia Bank. Her expertise includes leadership coaching and diversity development, which the company anticipates will enhance its strategic priorities. With total assets of $3.7 billion as of June 30, 2020, HomeTrust is the second-largest community bank in North Carolina.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced its annual stockholders' meeting scheduled for November 16, 2020. The meeting will take place at 10:00 a.m. at the Renaissance Hotel in Asheville, North Carolina. As of June 30, 2020, the company reported assets of $3.7 billion, positioning itself as the second-largest community bank in North Carolina. The press release also includes forward-looking statements emphasizing potential risks such as the impact of the COVID-19 pandemic on credit quality and business operations.

HomeTrust Bancshares (NASDAQ: HTBI) reported net income of $3.6 million for Q4 2020, down from $8.0 million YOY. EPS decreased to $0.22 from $0.44. The provision for loan losses surged to $2.7 million compared to $200,000 last year. For FY 2020, net income totaled $22.8 million, down from $27.1 million, with EPS at $1.30. Noninterest income rose 32.2% to $30.3 million. The company declared a dividend of $0.07 per share, payable on September 3, 2020. Total deposits increased by 19.7% to $2.8 billion.