ASHEVILLE, N.C., Aug. 10, 2012 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (Nasdaq:HTBI), the holding company of HomeTrust Bank, today announced preliminary net income for the Bank for the three months ended June 30, 2012 of $1.4 million, compared to a net loss of $16.7 million for the three months ended June 30, 2011. For the year ended June 30, 2012, the Company reported preliminary net income for the Bank of $4.5 million, compared to a net loss of $14.7 million for the year ended June 30, 2011. The increase in net income for the three months and the year was primarily a result of the decrease in the provision for losses on loans.
In making this announcement, Dana Stonestreet, President and COO, said, "We are pleased to report our significantly improved fourth quarter and fiscal year-end earnings performance as a result of continued improving credit quality and increased net interest margin. We are also extremely pleased with our successful, oversubscribed community stock offering completed in July. The more than $200 million of additional capital raised in the offering will allow us to strategically grow our footprint while continuing to preserve hometown banking in the communities we serve."
Income Statement ReviewNet interest income was $13.9 million for the three months ended June 30, 2012 compared to $13.0 million for the three months ended June 30, 2011. Net interest income for the three months ended June 30, 2012 increased $810,000, or 6.2%, compared to the same period in the prior year as declines in deposit and Federal Home Loan Bank (FHLB) borrowing costs of $1.9 million outpaced a decrease in interest income on loans of $1.1 million. Net interest margin for the three months ended June 30, 2012 increased 51 basis points to 4.10% over the same period in the prior year, primarily due to a 51 basis point decline in the rate paid on interest-bearing liabilities to 0.80%, coupled with a 6 basis point increase on the yield on interest-earning assets to 4.80%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV