ASHEVILLE, N.C., Jan. 23, 2025 (GLOBE NEWSWIRE) — HomeTrust Bancshares, Inc. (NASDAQ: HTBI) (“Company”), the holding company of HomeTrust Bank (“Bank”), today announced preliminary net income for the fourth quarter of the year ending December 31, 2024 and approval of its quarterly cash dividend.

For the quarter ended December 31, 2024 compared to the quarter ended September 30, 2024:

• net income was $14.2 million compared to $13.1 million;
• diluted earnings per share (“EPS”) was $0.83 compared to $0.76;
• annualized return on assets (“ROA”) was 1.27% compared to 1.17%;
• annualized return on equity (“ROE”) was 10.32% compared to 9.76%;
• net interest margin was 4.09% compared to 4.00%;
• provision for credit losses was a benefit of $855,000 compared to a provision of $3.0 million; and
• quarterly cash dividends increased $0.01 per share, or 9.09%, to $0.12 per share totaling $2.1 million compared to $0.11 per share totaling $1.9 million.

For the year ended December 31, 2024 compared to the year ended December 31, 2023:

• net income was $54.8 million compared to $50.0 million;
• diluted EPS was $3.20 compared to $2.97;
• ROA was 1.23% compared to 1.17%;
• ROE was 10.37% compared to 10.62%;
• net interest margin was 4.05% compared to 4.22%;
• provision for credit losses was $7.5 million compared to $15.1 million; and
• cash dividends of $0.45 per share totaling $7.7 million compared to $0.41 per share totaling $6.9 million.

Results for the year ended December 31, 2023 includes the impact of the merger of Quantum Capital Corp. (“Quantum”) into the Company effective February 12, 2023. The addition of Quantum contributed total assets of $656.7 million, including loans of $561.9 million, and $570.6 million of deposits, all reflecting the impact of purchase accounting adjustments. Merger-related expenses of $4.7 million were recognized during the year ended December 31, 2023, while a $5.3 million provision for credit losses was recognized during the same period to establish allowances for credit losses on both Quantum’s loan portfolio and off-balance-sheet credit exposure.

The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per common share payable on February 27, 2025 to shareholders of record as of the close of business on February 13, 2025.

“Fiscal year 2024 ended with another quarter of strong financial results,” said Hunter Westbrook, President and Chief Executive Officer. “We reported our tenth consecutive quarter with a net interest margin at or above 4.00% and have grown our tangible book value per share by 11% over the past year. I am convinced our ability to deliver strong financial results is directly correlated to creating a nationally and regionally recognized best place to work. Building on the recognition received in 2024, we recently announced we were named a 2025 America’s Best Workplace as well as 2025 Best Place to Work in Tennessee and Virginia by the Best Companies Group.

“During the quarter, the Bank engaged a consultant to assist in the renewal of our largest core IT processing contract, which resulted in the recognition of $3 million in consulting expense. This renewal will result both in future cost savings and the expansion of our technology solutions, supporting the Company’s growth initiatives and digital strategies all with the goal of enhancing the customer experience.

“Lastly, it’s hard to believe it’s been almost four months since Hurricane Helene impacted a portion of the communities we live in and serve. I continue to be amazed and impressed by the resilience of our teammates and customers, and with recovery well underway, we remain committed to working with those in the affected areas.”

Read the full release on our Investor Relations site.

About HomeTrust Bancshares, Inc.
HomeTrust Bancshares, Inc. is the holding company for the Bank. As of December 31, 2024, the Company had assets of $4.6 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking with over 30 locations as well as online/mobile channels. Locations include: North Carolina (the Asheville metropolitan area, the “Piedmont” region, Charlotte and Raleigh/Cary), South Carolina (Greenville and Charleston), East Tennessee (Kingsport/Johnson City, Knoxville and Morristown), Southwest Virginia (the Roanoke Valley) and Georgia (Greater Atlanta).

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but instead are based on certain assumptions including statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by forward-looking statements. The factors that could result in material differentiation include, but are not limited to, the impact of bank failures or adverse developments involving other banks and related negative press about the banking industry in general on investor and depositor sentiment; the remaining effects of the COVID-19 pandemic on general economic and financial market conditions and on public health, both nationally and in the Company’s market areas; natural disasters, including the effects of Hurricane Helene; expected revenues, cost savings, synergies and other benefits from merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected, and goodwill impairment charges might be incurred; increased competitive pressures among financial services companies; changes in the interest rate environment; changes in general economic conditions, both nationally and in our market areas; legislative and regulatory changes; and the effects of inflation, a potential recession, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission – which are available on the Company’s website at www.htb.com and on the SEC’s website at www.sec.gov. Any of the forward-looking statements that the Company makes in this press release or in the documents the Company files with or furnishes to the SEC are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions, the factors described above or other factors that management cannot foresee. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.