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HomeTrust Bancshares, Inc. Announces Financial Results for the Second Quarter of Fiscal 2022 and Quarterly Dividend

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ASHEVILLE, N.C., Jan. 27, 2022 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (NASDAQ: HTBI) ("Company"), the holding company of HomeTrust Bank ("Bank"), today announced preliminary net income for the second quarter of fiscal 2022 and approval of its quarterly dividend.

For the quarter ended December 31, 2021 compared to the corresponding quarter in the previous year:

  • net income was $11.1 million, compared to $9.5 million;

  • diluted earnings per share ("EPS") was $0.68, compared to $0.57;

  • annualized return on assets ("ROA") was 1.24%, compared to 1.03%;

  • annualized return on equity ("ROE") was 11.02%, compared to 9.41%;

  • provision for credit losses was a net benefit of $2.5 million, compared to a net benefit of $3.0 million;

  • noninterest income was $10.2 million compared to $9.3 million;

  • 299,397 shares of Company common stock were repurchased during the quarter at an average price of $29.96 per share;

  • net commercial loan growth, excluding U.S. Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") loans, was $41.9 million, or 8.6% annualized compared to a decline of $44.6 million, or 9.8% annualized, in the prior year; and

  • quarterly cash dividends increased $0.01 per share, or 12.5%, to $0.09 per share, totaling $1.4 million.

For the six months ended December 31, 2021 compared to the previous year:

  • net income was $21.6 million, compared to $15.2 million;

  • diluted earnings per share ("EPS") was $1.33, compared to $0.92;

  • annualized return on assets ("ROA") was 1.21%, compared to 0.83%;

  • annualized return on equity ("ROE") was 10.78%, compared to 7.58%;

  • provision for credit losses was a net benefit of $4.0 million, compared to a net benefit of $2.1 million;

  • noninterest income was $20.5 million compared to $18.0 million;

  • 675,832 shares of Company common stock were repurchased during the six months at an average price of $28.71 per share; and

  • net commercial loan growth, excluding PPP loans, was $78.9 million, or 8.2% annualized compared to a decline of $11.0 million, or 1.2% annualized in the prior year.

The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.09 per common share payable on March 3, 2022 to shareholders of record as of the close of business on February 17, 2022.

“We continue to be encouraged by the positive trends within our commercial loan portfolio, both in terms of the volume of originations and the performance of the portfolio,” said Dana Stonestreet, Chairman and Chief Executive Officer. “Our commercial portfolio continues to grow at an annual rate in the mid- to high-single digits which we've maintained for several years. While the main driver of this growth has been our equipment finance portfolio, all commercial lines of business have experienced growth over the past year. In addition, the levels of nonperforming and classified credits remain at historically low levels. As a reflection of both the strong credit quality of our loan portfolio and a continued improvement in forecasted economic conditions, we were again able to release reserves this quarter recording a $2.5 million benefit for credit losses. Going forward we will continue to focus on the asset origination capacity of all of our lines of business, while maintaining the credit culture that has supported our growth in recent years.”