Hometrust Bancshares Inc Stock Price, News & Analysis

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) announced its preliminary net income for Q3 FY2023, detailing a net income of $6.7 million ($0.40 per share), a decrease of 50.7% from Q2 FY2023. The merger with Quantum Capital Corp. on February 12, 2023, added $656.7 million in assets, including $561.9 million in loans. Notably, the provision for credit losses surged to $8.8 million, reflecting both the merger's impact and credit quality adjustments. Despite the challenges, net interest income rose to $41.5 million, driven by a net interest margin of 4.55%. The company declared a quarterly cash dividend of $0.10, up from $0.09 last quarter. Year-over-year comparisons remain stable, showing no significant change in net income at $29.6 million for the nine-month period. The company maintains a robust balance sheet, with a well-capitalized status and low levels of nonperforming loans.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) has successfully completed its merger with Quantum Capital Corp. on February 12, 2023. The transaction, valued at approximately $70.8 million, will result in a combined entity with assets totaling around $4.3 billion, including loans and deposits of $3.6 billion each. HomeTrust will issue 1,374,646 shares of common stock and pay $33 million in cash to Quantum shareholders. The merger enhances HomeTrust's position in the market while retaining the Quantum National Bank name until the systems integration in mid-March 2023. Key personnel changes include Bryan Cohen as Georgia Market President.

HomeTrust Bancshares, Inc. (NASDAQ: HTBI) has received regulatory approvals to merge with Quantum Capital Corp, with the merger anticipated to close around February 13, 2023. The Federal Reserve Bank of Richmond and the North Carolina Office of the Commissioner of Banks granted the necessary approvals under the Agreement and Plan of Merger dated July 24, 2022. Following the merger, Quantum National Bank will also merge into HomeTrust Bank. The systems conversion is scheduled for mid-March 2023, aiming to enhance HomeTrust's banking capabilities.

HomeTrust Bancshares (NASDAQ: HTBI) reported a strong second quarter for fiscal year 2023, with net income of $13.7 million ($0.90 per diluted share), up 48.5% from the previous quarter. The annualized return on assets rose to 1.54%, and return on equity reached 13.37%. Net interest income increased to $37.5 million, while credit loss provisions decreased to $2.2 million. Noninterest income also grew to $8.5 million. The Board declared a quarterly cash dividend of $0.10 per share, representing an 11.1% increase. Total assets and stockholders' equity were reported at $3.6 billion and $410.2 million, respectively.

HomeTrust Bancshares, Inc. (HTBI) reported preliminary net income of $9.2 million for Q1 fiscal 2023, a 52.7% increase from the previous quarter. Diluted EPS rose to $0.60 from $0.39. The company achieved a 14.2% annualized loan growth, totaling $98.5 million, and net interest income increased by 19.6% to $34.5 million. However, net income decreased by 12.6% year-over-year, impacted by a higher provision for credit losses of $4.0 million. The Board declared a quarterly cash dividend of $0.10 per share, an increase of 11.1%.

HomeTrust Bancshares, Inc. (HTBI) reported a net income of $6.0 million, or $0.39 per diluted share, for Q4 2022, reversing a $7.4 million loss in Q4 2021. For the fiscal year, net income rose to $35.7 million ($2.23 per diluted share) from $15.7 million in 2021. Net interest income increased to $28.9 million in Q4 from $26.0 million, driven by loan growth of $69.8 million (10.3% annualized). The Board declared a quarterly cash dividend of $0.09 per share, payable September 1, 2022. The planned acquisition of Quantum Capital Corporation is expected to enhance profitability.