HomeTrust reports Q2 EPS 73c, consensus 73c

Total assets decreased by $1.8 million to $4.7 billion and total liabilities decreased by $25.5 million to $4.1 billion, respectively, at June 30, 2024 as compared to December 31, 2023. The majority of these changes were the result of an increase in deposits, which, combined with the collection of BOLI redemption proceeds, were used to fund growth in loans and pay down borrowings. Reports tangible book value per share $27.73. “Our financial results for the second quarter continue to reflect our goal of high performance combined with our strategy of being a best place to work,” said Hunter Westbrook, President and Chief Executive Officer. “Our performance remained strong, aided by the expansion of our top quartile net interest margin which remains was again above 4.00%, while noninterest income and expense were both in line with the prior quarter. The decrease in our net income this quarter is reflective of an allowance build for potential credit losses on individual equipment finance and SBA loans that are in the early stages of collateral and collectability evaluation.”