HomeTrust Bancshares sets 2025 executive incentives

ASHEVILLE, NC – HomeTrust Bancshares, Inc. (NASDAQ:HTBI), a federally chartered savings institution with a market capitalization of $642 million, has disclosed updates to its executive compensation structure.

The company, which has demonstrated strong financial performance with a 44.5% stock return over the past year and maintains a "GREAT" financial health score according to InvestingPro, announced on Monday that its Compensation and Human Capital Committee finalized the incentive plan for the senior leadership team for the fiscal year ending December 31, 2025.

According to the recent 8-K filing with the Securities and Exchange Commission, the targeted incentive award opportunities for certain named executive officers have been established as a percentage of their annual base salary. For C. Hunter Westbrook, the President and Chief Executive Officer, the award is set at 50%. Tony J. VunCannon, the Executive Vice President, Chief Financial Officer, Corporate Secretary, and Treasurer, has been allocated 40%, the same as Kristin Y. Powell, Executive Vice President and Consumer and Business Banking Group Executive, and John F. Sprink II, Executive Vice President, Commercial Banking Group Executive. Megan Pelletier, Executive Vice President, Chief Operations and People Officer, will have a targeted incentive of 30%.

The performance measures and weightings for the incentive plan are also outlined in the filing. For Westbrook, VunCannon, and Pelletier, the sole performance measure will be the adjusted pretax, pre-provision income, with a 100% weighting. Powell and Sprink will have their performance measured by the same metric at a 50% weighting, along with division profitability, which also carries a 50% weighting. According to InvestingPro data, two analysts have recently revised their earnings estimates upward for the upcoming period, suggesting confidence in the company’s financial trajectory.

The HomeTrust Bancshares stock, traded under the ticker (NASDAQ:HTBI), is listed on The NASDAQ Stock Market LLC. The company, headquartered at 10 Woodfin Street, Asheville, North Carolina, has made this information public as part of its regulatory requirements, ensuring transparency with its shareholders and the broader market.

This update to the incentive plan reflects the company’s focus on financial performance and profitability for the upcoming year. The company currently trades at a P/E ratio of 11.55 and appears undervalued based on InvestingPro’s Fair Value analysis. The details provided in the SEC filing offer investors insights into the company’s strategy for executive compensation and its alignment with corporate financial goals, with the company maintaining profitable operations over the last twelve months.

The information for this article is based on a press release statement.

In other recent news, HomeTrust Bancshares has reported a rise in Q4 earnings, with net income increasing to $14.2 million from $13.1 million in the previous quarter. Similarly, the diluted earnings per share (EPS) saw an increase to $0.83 from $0.76. The company also revealed plans to switch its common stock listing from NASDAQ to the New York Stock Exchange (NYSE), a move expected to provide greater exposure and long-term value for stockholders.

The company also announced the dismissal of Forvis Mazars, LLP as its independent registered public accounting firm, following a review and evaluation of proposals from several firms. HomeTrust Bancshares has selected Crowe LLP to serve as its new accounting firm for the fiscal year ending December 31, 2025.

In addition to these developments, HomeTrust Bancshares has set its Q4 earnings release date. The company plans to release its earnings results for the fourth quarter of 2024 ahead of the market opening.

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