# EDGAR Filing Document

**Accession Number:** 0001538263
**File Stem:** 0001538263-26-000089
**Filing Date:** 2026-6
**Character Count:** 43156
**Document Hash:** 6ccdaf8afa53e47b805c4fcb86d94622
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001538263-26-000089.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001538263-26-000089

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HomeTrust Bancshares, Inc.
- **CENTRAL INDEX KEY:** 0001538263
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35593
- **FILM NUMBER:** 261127139

**BUSINESS ADDRESS:**
- **STREET 1:** 10 WOODFIN STREET
- **CITY:** ASHEVILLE
- **STATE:** NC
- **ZIP:** 28801
- **BUSINESS PHONE:** 828-259-3939

**MAIL ADDRESS:**
- **STREET 1:** 10 WOODFIN STREET
- **CITY:** ASHEVILLE
- **STATE:** NC
- **ZIP:** 28801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HomeTrustBancshares, Inc.
- **DATE OF NAME CHANGE:** 20111227

?xml version='1.0' encoding='ASCII'? htb-20260626

---

| |
|:---|
| **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** |
| **FORM 11-K** |
| (Mark One) |

---

[ x ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended: December 31, 2025

OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to ________________

Commission file number: **001-35593**<br>

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

**HomeTrust Bank KSOP Plan**

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

---

| |
|:---|
| **HomeTrust Bancshares, Inc.** |
| **10 Woodfin Street** |
| **Asheville, North Carolina 28801** |

---

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**HOMETRUST BANK KSOP PLAN**

**Required Information**

The HomeTrust Bank KSOP Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and for purposes of satisfying the requirements of Form 11-K has included for filing herewith the HomeTrust Bank KSOP Plan's financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA. Attached to this report as <u>[Exhibit 23](a2025-12x31xhtbix11kxex23b.htm)</u> is the consent of BDO USA, P.C.

------

**HOMETRUST BANK KSOP PLAN**

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | Page # |
| <u>[Report of Independent Registered Public Accounting Firm](#i0cbf086708984777962d874ca30607bb_10)</u> | <u>[2](#i0cbf086708984777962d874ca30607bb_10)</u> |
| **Financial Statements** |  |
| <u>[Statements of Net Assets Available for Benefits](#i0cbf086708984777962d874ca30607bb_19)</u> | <u>[3](#i0cbf086708984777962d874ca30607bb_19)</u> |
| <u>[Statement of Changes in Net Assets Available for Benefits](#i0cbf086708984777962d874ca30607bb_22)</u> | <u>[4](#i0cbf086708984777962d874ca30607bb_22)</u> |
| <u>[Notes to Financial Statements](#i0cbf086708984777962d874ca30607bb_28)</u> | <u>[5](#i0cbf086708984777962d874ca30607bb_28)</u> |
| **Supplemental Schedules** |  |
| <u>[Schedule H, Line 4i - Schedule of Assets (Held at End of Year)](#i0cbf086708984777962d874ca30607bb_61)</u> | <u>[10](#i0cbf086708984777962d874ca30607bb_61)</u> |
| <u>[Schedule H, Line 4a - Schedule of Delinquent Participant Contributions](#i0cbf086708984777962d874ca30607bb_64)</u> | <u>[11](#i0cbf086708984777962d874ca30607bb_64)</u> |

---

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**Report of Independent Registered Public Accounting Firm**

Plan Administrator and Participants

HomeTrust Bank KSOP Plan

Asheville, North Carolina

***Opinion on the Financial Statements***

We have audited the accompanying statements of net assets available for benefits of the HomeTrust Bank KSOP Plan (the "Plan") as of December 31, 2025 and 2024, the related statement of changes in net assets available for benefits for the year ended December 31, 2025, and the related notes (collectively, the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the year ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan's management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

***Supplemental Information***

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2025 and schedule of delinquent participant contributions for the year ended December 31, 2025 have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ BDO USA, P.C.

We have served as the Plan's auditor since 2025.

Philadelphia, Pennsylvania

June 26, 2026

------

**HOMETRUST BANK KSOP PLAN**

***Statements of Net Assets Available for Benefits***

***December 31, 2025 and 2024***

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **Allocated** | **Unallocated** | **Total** | **Allocated** | **Unallocated** | **Total** |
| **Assets** |  |  |  |  |  |  |
| Cash | $— | $— | $— | $— | $— | $— |
| Investments, at fair value |  |  |  |  |  |  |
| &nbsp;&nbsp;Mutual funds | 2280666 |  | 2280666 | 2052277 |  | 2052277 |
| &nbsp;&nbsp;Collective investment trusts | 61344103 |  | 61344103 | 52252882 |  | 52252882 |
| &nbsp;&nbsp;Self-directed brokerage accounts | 2588074 |  | 2588074 | 2867162 |  | 2867162 |
| &nbsp;&nbsp;HomeTrust Bancshares, Inc. common stock | 19731253 | 14764919 | 34496172 | 15149220 | 13362540 | 28511760 |
| Investments, at contract value |  |  |  |  |  |  |
| &nbsp;&nbsp;Stable value anchor account | 2602023 |  | 2602023 | 4110237 |  | 4110237 |
| &nbsp;&nbsp;&nbsp;Total investments | 88546119 | 14764919 | 103311038 | 76431778 | 13362540 | 89794318 |
| Receivables |  |  |  |  |  |  |
| &nbsp;&nbsp;Notes receivable from participants | 1015564 |  | 1015564 | 1032420 |  | 1032420 |
| &nbsp;&nbsp;Employer contributions | 15721 |  | 15721 | 14420 |  | 14420 |
| &nbsp;&nbsp;&nbsp;Total receivables | 1031285 |  | 1031285 | 1046840 |  | 1046840 |
| Total assets | $89577404 | $14764919 | $104342323 | $77478618 | $13362540 | $90841158 |
| **Liabilities** |  |  |  |  |  |  |
| Loan payable to HomeTrust Bancshares, Inc. | $— | $3983871 | $3983871 | $— | $4545263 | $4545263 |
| Contributions received in advance | 201457 |  | 201457 |  |  |  |
| Total liabilities | $201457 | $3983871 | $4185328 | $— | $4545263 | $4545263 |
| **Net assets available for benefits** | $89375947 | $10781048 | $100156995 | $77478618 | $8817277 | $86295895 |

---

*The accompanying notes are an integral part of these financial statements.*

------

**HOMETRUST BANK KSOP PLAN**

***Statement of Changes in Net Assets Available for Benefits***

***Year Ended December 31, 2025***

---

| | | | |
|:---|:---|:---|:---|
| **Additions to net assets attributed to** | **Allocated** | **Unallocated** | **Total** |
| Investment income |  |  |  |
| &nbsp;&nbsp;Net appreciation in fair value of investments | $12477390 | $3673905 | $16151295 |
| &nbsp;&nbsp;Dividends and interest | 233943 | 204256 | 438199 |
| &nbsp;&nbsp;&nbsp;Total investment income | 12711333 | 3878161 | 16589494 |
| Interest income on notes receivable from participants | 68168 |  | 68168 |
| Contributions |  |  |  |
| &nbsp;&nbsp;Employer contributions | 1141142 | 463129 | 1604271 |
| &nbsp;&nbsp;Participant contributions | 3766311 |  | 3766311 |
| &nbsp;&nbsp;Rollover contributions | 1596892 |  | 1596892 |
| &nbsp;&nbsp;&nbsp;Total contributions | 6504345 | 463129 | 6967474 |
| Allocation of 52,900 shares of HomeTrust Bancshares, Inc. common stock at fair value | 2271526 |  | 2271526 |
| &nbsp;&nbsp;&nbsp;Total additions | 21555372 | 4341290 | 25896662 |
| **Deductions from net assets attributed to** |  |  |  |
| &nbsp;&nbsp;Benefits paid to participants | 9478577 |  | 9478577 |
| &nbsp;&nbsp;Interest expense |  | 105993 | 105993 |
| &nbsp;&nbsp;Administrative expenses | 179466 |  | 179466 |
| &nbsp;&nbsp;Allocation of 52,900 shares of HomeTrust Bancshares, Inc. common stock at fair value |  | 2271526 | 2271526 |
| &nbsp;&nbsp;&nbsp;Total deductions | 9658043 | 2377519 | 12035562 |
| **Net increase** | 11897329 | 1963771 | 13861100 |
| **Net assets available for benefits** |  |  |  |
| Beginning of year | 77478618 | 8817277 | 86295895 |
| End of year | $89375947 | $10781048 | $100156995 |

---

*The accompanying notes are an integral part of these financial statements.*

------

**HOMETRUST BANK KSOP PLAN**

***Notes to Financial Statements***

***December 31, 2025 and 2024***

**1. <u>Description of the Plan</u>**

The following description of the HomeTrust Bank KSOP Plan (the "KSOP" or the "Plan") provides only general information. Participants should refer to the KSOP's plan document for a more complete description of the KSOP's provisions.

<u>Plan Merger</u>

Prior to July 1, 2015, HomeTrust Bank (the "Bank"), a wholly owned subsidiary of HomeTrust Bancshares, Inc., a financial holding company (sometimes referred to below as the "Company"), sponsored a defined contribution plan covering eligible employees of the Bank named the HomeTrust Bank 401(k) Plan (the "401(k) Plan") and the Company sponsored an employee stock ownership plan named the HomeTrust Bancshares, Inc. Employee Stock Ownership Plan (the "ESOP"). Effective July 1, 2015, the ESOP was merged into the 401(k) Plan to form the KSOP. All participants in the ESOP became participants in the KSOP at July 1, 2015.

All shares of HomeTrust Bancshares, Inc. common stock allocated to an ESOP participant were moved to a separate individual account in the KSOP for that participant, while all unallocated Company shares in the ESOP were recorded as assets in the KSOP and the loan from HomeTrust Bancshares, Inc. to the ESOP was recorded as a liability of the KSOP. Certain 401(k) Plan provisions affecting participant plan eligibility and diversification related to the transferred assets were amended in the KSOP.

<u>General</u>

The KSOP consists of two components. One component is a profit sharing plan under Internal Revenue Code ("IRC") Section 401(k). The other component is a qualified stock bonus plan under IRC Section 401(a) and an employee stock ownership plan under IRC Section 4975(e)(7). The KSOP is subject to the provisions of ERISA.

The KSOP holds, in a trust, common shares of the Company obtained through the proceeds of a loan from the Company (Note 9). The borrowing is being repaid over a period of 20 years using contributions from the Bank to the trust fund. As the KSOP makes each payment of principal and interest, an appropriate percentage of Company common stock is allocated to eligible employees' accounts in accordance with applicable regulations under the IRC. The borrowing is collateralized by unallocated shares of Company common stock. The Company has no rights against shares once they are allocated under the KSOP. Accordingly, the financial statements of the KSOP present separately the assets and liabilities and changes therein pertaining to the accounts of employees with vested rights in allocated stock ("allocated") and stock not yet allocated to employees ("unallocated"). Principal Trust Company ("Principal" or "Trustee") serves as the trustee of the KSOP.

<u>Eligibility</u>

Employees of the Bank are generally eligible to participate in the KSOP by making elective deferrals and receiving Bank matching contributions once they have been employed for 30 days. Plan entry dates are the first day of each month. Employees are eligible for Bank discretionary contributions (including the ESOP discretionary contributions) provided they are employed the last day of the plan year or separated during the plan year due to death, disability or after meeting normal retirement age.

<u>Contributions</u>

Each year, participants may contribute up to the maximum amount allowed under the IRC. Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollovers). The KSOP includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate. Automatically enrolled participants have their deferral rate set at six percent of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. Participants generally may change their deferral rate and investments at any time.

The Bank matches 50 percent of the first six percent of eligible compensation that a participant contributes to the KSOP. The Bank may make an additional discretionary contribution. Participants must be employed on the last day of the plan year to be eligible for the additional discretionary contribution. Disabled or retired employees as defined by the KSOP are also eligible for the additional discretionary contribution. There were no additional discretionary contributions for the year ended December 31, 2025. Contributions are subject to certain IRC limitations.

The Bank may contribute cash to the ESOP component in such an amount determined by the Bank's board of directors, provided however, that the amount is sufficient to pay the annual loan payment to the Company. During the year ended December 31, 2025, the Bank's contribution to the ESOP component was $667,385.

<u>Participant Accounts</u>

Individual accounts are maintained for each KSOP participant. Each participant account is credited with the participant's contributions, an allocation of shares of the Company's common stock released by the Trustee from the unallocated account, allocations of the Bank's contributions and plan earnings, and charged with plan administrative expenses and plan losses. Allocations of shares of the Company's common stock are based on a participant's eligible compensation relative to total eligible compensation. KSOP earnings and losses are allocated to each participant's account based on the ratio of the participant's account balance. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

<u>Investment Options</u>

Participants may direct employee and Bank matching contributions, including any discretionary contributions, to any of the KSOP's investment options. As of December 31, 2025, the KSOP's investment options included self-directed brokerage accounts, mutual funds, collective investment trusts, a fully benefit-responsive investment contract, and HomeTrust Bancshares, Inc. common stock. Participants have the immediate right to elect to diversify any publicly traded employer securities, which currently includes HomeTrust Bancshares, Inc. common stock, held in their Company stock account attributable to Bank contributions and reinvest the proceeds in any other investments available under the KSOP.

------

**HOMETRUST BANK KSOP PLAN**

***Notes to Financial Statements***

***December 31, 2025 and 2024***

<u>Notes Receivable from Participants</u>

Participants may borrow from their accounts up to the lesser of $50,000 or 50 percent of their vested balance however, in the event of a federally declared natural disaster, the maximum loan amount increases to $100,000. Loan terms range from one to five years but may be longer where loan proceeds are used for the purchase of a primary residence. The loans are secured by the balance in the participant's vested account and bear interest at a rate commensurate with prevailing market rates as determined by the plan administrator. Interest rates ranged from 4.25% to 9.50% as of December 31, 2025. Principal and interest are paid through payroll deductions.

<u>Vesting</u>

Participants are immediately vested in participant contributions plus actual earnings thereon. Vesting in the Bank's matching and discretionary contribution portion of their accounts plus actual earnings thereon is based on years of vested service. A vested year of service is earned by a participant for each plan year in which they had 1,000 or more paid hours. A participant's share of employer contributions vests in 25% increments, with the participant being 100% vested after four years of vested service.

<u>Voting Rights</u>

Each eligible participant is entitled to instruct the Trustee on how to vote the shares of Company common stock held in the participant's KSOP account on any matters requiring a stockholder vote. In the event the participant fails to give timely voting instructions to the Trustee with respect to the voting of the shares of Company common stock held in the participant's KSOP account, and in the case of shares held by the KSOP but not allocated to any participant's account, the Trustee will vote such shares in the same proportion as directed by the participants who directed the Trustee as to the manner of voting the shares held in their KSOP accounts with respect to each matter.

<u>Forfeited Accounts</u>

Forfeitures of participants' nonvested accounts are applied to pay KSOP expenses or reduce future employer contributions. At December 31, 2025 and 2024, there were $29,323 and $3,012, respectively, of forfeited nonvested accounts that had not yet been utilized. During 2025, employer contributions were reduced by $227,713 from forfeited nonvested accounts.

<u>Payment of Benefits</u>

On termination of service due to death, disability, retirement, or other reasons, a participant or, in the case of death, the participant's beneficiary, may elect to receive either a lump-sum amount equal to the value of the participant's vested interest in his or her account, an annuity, or roll over their vested interest to a qualified plan or individual retirement account. Distributions may be made in the form of cash, Company common shares or a combination of both.

<u>Administrative Expenses</u>

The Plan's administrative expenses are paid by either the Plan or the Bank, as provided by the plan document. Certain administrative functions are performed by employees of the Bank. No such employee receives compensation from the Plan.

**2. <u>Summary of Significant Accounting Policies</u>**

<u>Basis of Accounting</u>

The accompanying financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America ("GAAP").

<u>Use of Estimates</u>

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results may differ from those estimates.

<u>Investment Valuation and Income Recognition</u>

Investments are reported at fair value with the exception of fully benefit-responsive investment contracts, which are required to be reported at contract value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Contract value is the relevant measure for the portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants normally would receive if they were to initiate permitted transactions under the terms of the KSOP. KSOP management determines the valuation policies utilizing information provided by the Trustee. See Notes 4 and 5 for further discussion of fair value and contract value measurements.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) in fair value of investments includes the KSOP's gains and losses on investments bought and sold as well as held during the year.

<u>Contributions</u>

Participant contributions and the matching employer contributions are recorded in the year in which the participant contributions are withheld from compensation.

<u>Payment of Benefits</u>

Benefits are recorded when paid.

<u>Notes Receivable from Participants</u>

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant notes are reclassified as distributions based upon the terms of the plan document.

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**HOMETRUST BANK KSOP PLAN**

***Notes to Financial Statements***

***December 31, 2025 and 2024***

<u>Subsequent Events</u>

The Company performed a review of events subsequent to December 31, 2025, through the date the financial statements were issued and determined that there were no such events requiring recognition or disclosure in the financial statements.

**3. <u>Income Tax Status</u>**

The Internal Revenue Service ("IRS") has determined and informed the Company by a letter dated September 18, 2017, that the Plan and related trust were designed in accordance with the applicable provisions of the IRC. The Plan has been amended since receiving the determination letter. However, the plan administrator believes that the Plan is designed and is currently being operated in compliance with the applicable provisions of the IRC. Therefore, the plan administrator believes that the Plan was qualified and the related trust was tax exempt as of December 31, 2025.

GAAP requires plan management to evaluate tax positions taken by the KSOP and recognize a tax liability (or asset) if the KSOP has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the KSOP, and has concluded that as of December 31, 2025 and 2024, there were no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The KSOP is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in process.

**4. <u>Fair Value of Financial Instruments</u>**

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1:&nbsp;&nbsp;&nbsp;&nbsp;Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2:&nbsp;&nbsp;&nbsp;&nbsp;Significant observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.

Level 3:&nbsp;&nbsp;&nbsp;&nbsp;Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for assets recorded at fair value. The Company does not have any liabilities recorded at fair value. There have been no changes in the methodologies used at December 31, 2025 or 2024.

<u>Mutual Funds and HomeTrust Bancshares, Inc. Common Stock</u>

These investments are valued at the closing price reported on the active market on which individual securities are traded at the end of the plan year.

<u>Self-Directed Brokerage Accounts</u>

Accounts consist of money market funds, mutual funds, U.S. Treasury obligations, and various equity securities that are valued on the basis of readily determinable market prices. Money market funds are valued at the daily closing price as reported by the fund. U.S. Treasury obligations are valued based on quoted market prices of identical instruments in active markets.

<u>Collective Investment Trusts</u>

The net asset value ("NAV"), as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the collective trust, the investment adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure the securities liquidations will be carried out in an orderly business manner.

The following tables present the financial assets measured at fair value on a recurring basis as of the following dates:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Fair Value** |
| Mutual funds | $2280666 | $— | $— | $2280666 |
| Self-directed brokerage accounts | 2588074 |  |  | 2588074 |
| HomeTrust Bancshares, Inc. common stock | 34496172 |  |  | 34496172 |
| &nbsp;&nbsp;Total | $39364912 | $— | $— | 39364912 |
| Collective investment trusts<sup>(a) (b)</sup> |  |  |  | 61344103 |
| &nbsp;&nbsp;Total investments at fair value |  |  |  | $100709015 |

---

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**HOMETRUST BANK KSOP PLAN**

***Notes to Financial Statements***

***December 31, 2025 and 2024***

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Level 1** | **Level 2** | **Level 3** | **Fair Value** |
| Mutual funds | $2052277 | $— | $— | $2052277 |
| Self-directed brokerage accounts | 2867162 |  |  | 2867162 |
| HomeTrust Bancshares, Inc. common stock | 28511760 |  |  | 28511760 |
| &nbsp;&nbsp;Total | $33431199 | $— | $— | 33431199 |
| Collective investment trusts<sup>(a) (b)</sup> |  |  |  | 52252882 |
| &nbsp;&nbsp;Total investments at fair value |  |  |  | $85684081 |

---

(a)Represents investments in collective investment trusts whose primary objective is to seek total return of long-term growth of capital and current income. There are no unfunded commitments, redemption frequency restrictions, or other redemption restrictions, except as mentioned above.

(b)In accordance with Accounting Standards Codification Subtopic 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Net Assets Available for Benefits.

The Plan recognizes transfers between the levels as of the beginning of the reporting period. There were no transfers between levels for the year ended December 31, 2025.

The following table presents additional detail for the Company's common stock as of the dates indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
| | **Allocated** | **Unallocated** | **Allocated** | **Unallocated** |
| HomeTrust Bancshares, Inc. common shares |  |  |  |  |
| &nbsp;&nbsp;Number of shares | 459508 | 343850 | 449799 | 396750 |
| &nbsp;&nbsp;Cost | $4595080 | $3438500 | $4497990 | $3967500 |
| &nbsp;&nbsp;Fair value | $19731253 | $14764919 | $15149220 | $13362540 |

---

The quoted market value per share of the Company's common stock at December 31, 2025 and 2024 was $42.94 and $33.68, respectively.

The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

**5. <u>Fully Benefit-Responsive Investment Contracts</u>**

The KSOP has a fully benefit-responsive guaranteed investment contract ("GIC") with New York Life, which maintains contributions in a general account. The GIC does not have specific underlying assets assigned. The GIC issuer is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.

The GIC, or stable value anchor account, is included in the financial statements at contract value. Contract value, as reported to the KSOP by the Trustee, represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. The GIC has a surrender charge of five percent that may be imposed if the KSOP terminates its interest in the contract. The total contract value of the GIC at December 31, 2025 and 2024 was $2,602,023 and $4,110,237, respectively.

Certain events limit the ability of the KSOP to transact at contract value with the issuer. Such events include the following: (1) amendments to the plan document (including complete or partial plan termination or merger with another plan), (2) changes to the KSOP's prohibition on competing investment options or deletion of equity wash provisions, (3) bankruptcy of the plan sponsor or other plan sponsor events (for example, divestitures or spin-offs of a subsidiary) that cause a significant withdrawal from the KSOP, or (4) the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The plan administrator does not believe that the occurrence of any such value event, which would limit the Plan's ability to transact at contract value with participants, is probable.

There are no reserves against contract value for credit risk of the contract issuer or otherwise. The crediting interest rate is based on a formula agreed upon with the issuer, but it may not be less than 0%. Such interest rates are reviewed on a semi-annual basis for resetting.

**6. <u>Exempt Party-In-Interest Transactions</u>**

The KSOP invests in certain funds and accounts managed by Principal, the KSOP's trustee and third-party administrator. CapTrust is the KSOP's investment advisor. Such transactions qualify as exempt party-in-interest transactions. Fees paid by the KSOP for investment management services were included as a reduction of the return earned on each contract.

Certain plan investments are shares of HomeTrust Bancshares, Inc. common stock. HomeTrust Bank is the plan sponsor and, therefore, transactions related to this common stock, including dividend income earned by the Plan, qualify as party-in-interest transactions.

In July 2012, the ESOP portion of the KSOP purchased 1,058,000 shares of Company common stock at a cost of $10,580,000 and allocates 52,900 shares to participants each plan year. During the year ended December 31, 2025, the Plan recorded dividend income of $401,083.

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**HOMETRUST BANK KSOP PLAN**

***Notes to Financial Statements***

***December 31, 2025 and 2024***

**7. <u>Non-Exempt Party-In-Interest Transactions</u>**

During the Plan year ended December 31, 2025, participant contributions totaling $31 were not remitted to the Plan within the period prescribed by Department of Labor regulations. These transactions constitute non-exempt party-in-interest transactions as defined by ERISA. The related lost earnings were remitted to the Plan during 2025.

During the Plan year ended December 31, 2024, participant contributions and loan repayments totaling $291 were not remitted to the Plan

within the period prescribed by Department of Labor regulations. These transactions constitute non-exempt party-in-interest transactions as

defined by ERISA. The related lost earnings were also remitted to the Plan during 2025.

**8. <u>Plan Termination</u>**

Although it has not expressed any intent to do so, the Company has the right under the KSOP to discontinue its contributions at any time and to terminate the KSOP subject to the provisions of ERISA. In the event of Plan termination, participants become 100 percent vested in their accounts. Upon termination of the KSOP, all liabilities and expenses of the KSOP will be paid and shares of financed common stock held will be sold to the extent necessary in order to repay the loan.

**9. <u>Loan Payable/Related Party</u>**

In July 2012, the ESOP entered into a $10,580,000 term loan agreement with the Company. The proceeds of the loan were used to purchase 1,058,000 shares of the Company's common stock. Unallocated shares are collateral for the loan. The agreement provides for the loan to be repaid in annual payments of $667,385 of principal and interest at 2.30% over 20 years. Dividends paid on unallocated Company shares were used to reduce the principal payment by $204,256 for the year ended December 31, 2025.

The scheduled amortization of the loan for the next five years and thereafter is as follows:

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| | |
|:---|:---|
| 2026 | $574483 |
| 2027 | 587880 |
| 2028 | 601409 |
| 2029 | 615613 |
| 2030 | 629969 |
| Thereafter | 974517 |
| &nbsp;&nbsp;Total | $3983871 |

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**10. <u>Risks and Uncertainties</u>**

The KSOP invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, credit and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term. Any such changes could materially affect participant balances and the amounts reported in the financial statements.

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**HOMETRUST BANK KSOP PLAN**

***Schedule H, Line 4i - Schedule of Assets (Held at End of Year)***

***EIN 56-0181785***

***PLAN NUMBER 002***

***December 31, 2025***

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| | | | | |
|:---|:---|:---|:---|:---|
| (a) | (b) | (c) | (d) | (e) |
|  | **Identity of Issue, Borrower, Lessor or Similar Party** | **Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value** | **Cost\*\*** | **Current<br>Value** |
| \* | HomeTrust Bancshares, Inc. | Common Stock | $8033580 | $34496172 |
|  | Northern Trust | Collective S&P 500 Index Fund - DC (CIT) |  | 9307908 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2040 CIT |  | 6647497 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2030 CIT |  | 6367373 |
|  | Harbor Capital Advisors | Harbor Capital Appreciation CIT |  | 4877520 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2035 CIT |  | 4808649 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2025 CIT |  | 4449895 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2050 CIT |  | 4274822 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2045 CIT |  | 3892070 |
|  | New York Life | Stable Value Anchor Account |  | 2602023 |
| \* | Principal | Self-Directed Brokerage Account |  | 2588074 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2020 CIT |  | 2160573 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2055 CIT |  | 2138073 |
|  | MFS Investment Management | Mid Cap Growth CIT |  | 2073916 |
|  | MFS Investment Management | Large Cap Value CIT |  | 1872671 |
|  | Great Gray Trust Company | Great Gray EuroPacific Growth CIT |  | 1745574 |
|  | Northern Trust | Collective Extended Equity Mkt Index Fund Nonlending (CIT) |  | 1524700 |
|  | AB / Brown Advisory / Emerald Advisors | Small Cap Growth |  | 1325894 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2015 CIT |  | 1181386 |
|  | Fidelity Management & Research | Fidelity Core Plus Commingled Pool CIT |  | 1082842 |
|  | Northern Trust | Collective All Country World Index (ex-US) CIT |  | 895543 |
|  | MFS Investment Management | Mid Cap Value CIT |  | 839326 |
|  | All Spring Investments | Special Small Cap Value |  | 538706 |
|  | Vanguard Group | Vanguard Fed Money Market Investor Fund |  | 416066 |
|  | Northern Trust | Collective Aggregate Bond Index Fund (CIT) |  | 402091 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid Income CIT |  | 365761 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2060 CIT |  | 352790 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2065 CIT |  | 49759 |
| \* | Principal Global Investors Trust Company | Principal LifeTime Hybrid 2070 CIT |  | 33364 |
| \* | Participant loans\*\*\* | 4.25 - 9.50%, due through June 2050 |  | 1015564 |
|  |  |  |  | $104326602 |

---

*\*&nbsp;&nbsp;&nbsp;&nbsp;Party-in-interest to the Plan*.

*\*\*&nbsp;&nbsp;&nbsp;&nbsp;Cost omitted for participant-directed investments*. *The allocated portion of HomeTrust Bancshares, Inc. common stock is participant-directed and the unallocated portion is not participant-directed. Cost information has been included for the total of this investment.*

\*\*\*&nbsp;&nbsp;&nbsp;&nbsp;*The accompanying financial statements classify participant loans as notes receivable from participants*.

------

**HOMETRUST BANK KSOP PLAN**

***Schedule H, Line 4a - Schedule of Delinquent Participant Contributions***

***EIN 56-0181785***

***PLAN NUMBER 002***

***December 31, 2025***

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| | | | | |
|:---|:---|:---|:---|:---|
| | Totals That Constitute Nonexempt Prohibited Transactions | Totals That Constitute Nonexempt Prohibited Transactions | Totals That Constitute Nonexempt Prohibited Transactions | Total Fully Corrected Under VFCP and Prohibited Transaction Exemption 2002-51 |
| | Contributions Not Corrected | Contributions Corrected Outside Voluntary Fiduciary Correction Program ("VFCP") | Contributions Pending Correction in VFCP | Total Fully Corrected Under VFCP and Prohibited Transaction Exemption 2002-51 |
| Check here if late participant loan repayments are included: ☒ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | $— | $31 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 291 | $— | $— |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | **HOMETRUST BANK KSOP PLAN** |
| | By: | HomeTrust Bancshares, Inc., as Plan Administrator |
| Date: June 26, 2026 | By: | /s/ C. Hunter Westbrook |
|  |  | C. Hunter Westbrook |
|  |  | President and Chief Executive Officer |

---

## Ex-23

**Exhibit 23**

**Consent of Independent Registered Public Accounting Firm**

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (333-210167 and 333-182635) of HomeTrust Bancshares, Inc. of our report dated June 26, 2026, relating to the financial statements and supplemental schedules of the HomeTrust Bank KSOP Plan which appear in this Form 11-K for the year ended December 31, 2025.

/s/ BDO USA, P.C.

Philadelphia, Pennsylvania

June 26, 2026

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