So I heard back from our ISP and it appears we're running out of memory on our current hosting plan. I'm going to kill off the homepage for the time being (not delete, just deactivate) and see if that frees up enough memory to speed up the forums. Some of the plugins I've installed on the homepage (WordPress) may be the culprit.
I'm also investigating a new ISP that will not only be faster but include the forum conversion from UBB Threads to VBulletin. The entire site will be contained within VBulletin, including the homepage. No more WordPress.