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Mar 31, 2021
Hometrust Q3 2021 Earnings Report
HomeTrust Bancshares, Inc. reported net income of $7.9 million and EPS of $0.48 for the third quarter of fiscal 2021.
Key Takeaways
HomeTrust Bancshares, Inc. announced strong financial results for Q3 2021, with significant increases in net income and EPS compared to the same quarter last year. The company benefited from a net benefit for credit losses and increased noninterest income, driven by gains on loan sales. These positives were partially offset by a prepayment penalty on debt retirement and a lower net interest margin.
Net income increased to $7.9 million, compared to $1.2 million in the same quarter last year.
Diluted earnings per share increased to $0.48, compared to $0.07 in the same quarter last year.
Noninterest income increased by $4.3 million, or 67.5%, to $10.7 million.
Provision for credit losses was a net benefit of $4.1 million, compared to a provision of $5.4 million in the same quarter last year.
Forward Guidance
HomeTrust expects continued growth in its diversified lines of business, focusing on enhancing asset origination capacity and improving the overall digital experience for customers to achieve improved financial results and create shareholder value.
Positive Outlook
- Continued financial strength of borrowers.
- Improvement in the economic forecast.
- Focus on overall digital experience of customers.
- Strengthening all service delivery channels.
- Expects continued growth in all of diversified lines of business.
Challenges Ahead
- Extraordinary challenges during the pandemic.
- Lower net interest margin than the same periods last year, due to the decrease in interest rates over the past year.
- Uncertainty surrounding COVID-19.
- Customers have decreased spending during the pandemic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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