HomeTrust Bancshares, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended Dec. 31, 2017
January 29, 2018 at 07:14 pm IST
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HomeTrust Bancshares, Inc. reported unaudited consolidated financial results for the second quarter and six months ended Dec. 31, 2017. For the quarter, total interest and dividend income was $28,848,000 against $22,063,000 for the same period of last year. Net interest income was $25,230,000 against $20,415,000 for the same period of last year. Income before income taxes was $8,842,000 against $3,876,000 for the same period of last year. Net loss was $10,666,000 against income of $2,983,000 for the same period of last year. Net loss per diluted share was $0.59 against income of $0.17 for the same period of last year. Adjusted net income per diluted share was $0.38 against $0.17 for the same period of last year. The company announced preliminary net loss was driven by an estimated $17.7 million deferred tax revaluation resulting from enactment of the Tax Cuts and Jobs Act. The $4.8 million, or 23.6% increase in net interest income was primarily due to a $6.8 million increase in interest and dividend income driven by an increase in average interest-earning assets.
For the six months, total interest and dividend income was $56,744,000 against $44,854,000 for the same period of last year. Net interest income was $49,811,000 against $41,552,000 for the same period of last year. Income before income taxes was $16,919,000 against $10,124,000 for the same period of last year. Net loss was $5,099,000 against income of $6,807,000 for the same period of last year. Net loss per diluted share was $0.28 against income of $0.39 for the same period of last year. Adjusted net income per diluted share was $0.68 against $0.43 for the same period of last year. Book value per share at end of period was $20.84 against $20.43 for the same period of last year.
HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank (the Bank). The Bank is a state-chartered, community-focused financial institution committed to providing value-added relationship banking with over 30 locations, as well as online/mobile channels. Its principal business consists of attracting deposits from the general public and investing those funds, along with borrowed funds, in commercial real estate loans, construction and development loans, commercial and industrial loans, equipment finance leases, municipal leases, loans secured by first and second mortgages on one-to-four family residences, including home equity loans and other consumer loans. It also originates one-to-four family loans, SBA loans and HELOCs to sell to third parties. It invests in debt securities issued by United States Government agencies and GSEs, municipal bonds, corporate bonds, commercial paper and certificates of deposit insured by the Federal Deposit Insurance Corporation.