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Jun 30, 2023
Hometrust Q4 2023 Earnings Report
Net income increased due to a decrease in provision for credit losses and merger-related expenses, and an increase in net interest income.
Key Takeaways
HomeTrust Bancshares reported a strong fourth quarter with increased net income and EPS, driven by growth in net interest income and a decrease in the provision for credit losses. The merger with Quantum Capital Corp. positively impacted the results.
Net income increased to $15.0 million, or $0.90 per diluted share, compared to $6.7 million, or $0.40 per diluted share, for the quarter ended March 31, 2023.
Net interest income rose to $43.9 million compared to $41.5 million in the previous quarter.
Provision for credit losses decreased significantly to $405,000 from $8.8 million.
The merger with Quantum Capital Corp had a positive impact on the financial results.
Forward Guidance
The company's focus remains on prudent loan portfolio growth and managing liquidity changes. They also anticipate additional costs related to moving the fiscal year end to December 31st, but believe the benefits outweigh the expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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