The allowance for loan losses was $35.1 million or 2.85% of total loans at June 30, 2012 compared to $50.1 million or 3.77% of total loans at June 30, 2011. The decrease was primarily due to the charge-off of $16.7 million of specific reserves in accordance with regulatory guidance during the quarter ended December 31, 2011.
Nonperforming assets totaled $80.3 million, or 4.67% of total assets, at June 30, 2012, compared to $62.3 million, or 3.81% of total assets, at June 30, 2011. Nonperforming assets included $64.2 million in nonperforming loans and $16.1 million in foreclosed real estate at June 30, 2012, compared to $48.4 million and $13.9 million, respectively, at June 30, 2011. The increase in nonperforming loans included $25.7 million of loans reclassified from impaired loans still accruing interest to non-accruing loans pursuant to regulatory guidance during the quarter ended December 31, 2011. At June 30, 2012, $28.1 million or 43.8% of nonperforming loans were current on their loan payments.
The ratio of classified assets to total assets decreased to 7.75% at June 30, 2012 from 9.83% at June 30, 2011. This decrease was primarily related to a $29.9 million decrease in classified loans due to loan repayments and charge-offs during the fiscal year. Classified assets totaled $133.4 million at June 30, 2012 as compared to $161.0 million at June 30, 2011.
About HomeTrust Bancshares, Inc.On July 10, 2012, HomeTrust Bancshares, Inc. (the "Company") became the holding company for HomeTrust Bank (the "Bank") in connection with the completion of the Bank's conversion from the mutual to the stock form of organization and the Company's related public stock offering. In the offering, the Company sold 21,160,000 shares of common stock at a price of $10.00, for gross offering proceeds of $211.6 million. HomeTrust Bancshares' common stock began trading on the Nasdaq Global Market on July 11, 2012, under the symbol "HTBI".
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