Noninterest expense for the three months ended December 31, 2012 increased $1.8 million, or 15.3%, to $13.4 million compared to $11.6 million for the three months ended December 31, 2011. This increase was primarily related to $1.5 million in prepayment penalties on Federal Home Loan Bank (FHLB) borrowings repaid during the second fiscal quarter of fiscal 2013 and a $1.1 million or 21.2% increase in salaries and employee benefits as compared to the same period in the prior fiscal year.Noninterest expense for the six months ended December 31, 2012 increased $5.1 million, or 23.7%, to $26.8 million compared to $21.6 million for the six months ended December 31, 2011. This increase was primarily related to $3.1 million in prepayment penalties on FHLB borrowings repaid during the period and a $2.3 million or 21.7% increase in salaries and employee benefits as compared to the same period in the prior fiscal year. Salaries and employee benefits increased during the three and six months ended December 31, 2012 as a direct result of hiring an additional 40 full time employees (primarily in mortgage banking, credit administration, and regulatory compliance) coupled with additional expense related to the Company's new employee stock ownership plan.
HomeTrust Bancshares, Inc. Reports Second Quarter Fiscal Year 2013 Financial Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts