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HomeTrust Shifting to Higher Percentage of Commercial Loans, EF

December 27, 2019, 07:00 AM
Filed Under: Industry News

HomeTrust Bancshares, Inc., the holding company of HomeTrust Bank, announced the sale of approximately $160 million of one-to-four family loans previously reported as held for sale as of Sept. 30. This sale generated a gain of approximately $1.3 million. The company plans to sell up to $90 million more of these loans in the quarter ended March 31, 2020.

“The sale of these lower rate one-to-four family loans and our recent strong deposit growth will help to lower the Bank’s loan to deposit ratio to below 100 percent while shifting our loan mix to a higher percentage of commercial loans and equipment financing,” said Stonestreet. “The gain generated from the sale of these loans will help to offset the short-term decrease in net interest income until new loans are originated at higher yields. This loan sale, coupled with our strong loan origination pipeline, should improve our long-term interest rate margin and profitability.”

HomeTrust Bancshares, Inc., had assets of $3.7 billion, as of Sept. 30.

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