ASHEVILLE, N.C., July 1, 2015 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (the "Company") (NASDAQ:HTBI), the holding company for HomeTrust Bank, N.A. (the "Bank"), announced today the Company's Board of Directors has authorized a new stock repurchase program of up to 971,271 shares of the Company's common stock, representing 5% of the Company's currently outstanding shares. The shares may be purchased in the open market or in privately negotiated transactions from time to time depending upon market conditions and other factors. This is the Company's fifth stock repurchase plan since becoming a public company in July 2012.
In addition, the Company is nearing completion of its previous 5% stock repurchase program, which began in November 2014. Of the 1,023,266 shares that were authorized for repurchase, 60,023 remain outstanding as of June 30, 2015.
"As we enter fiscal 2016 we remain focused on organic loan growth to drive earnings while we continue to utilize excess capital to repurchase our undervalued shares and increase our tangible book value per share," said Dana Stonestreet, Chairman, President, and CEO.
About HomeTrust Bancshares, Inc.
HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank, N.A. As of March 31, 2015 the Company had assets of $2.6 billion. The Bank, founded in 1926, is a nationally chartered, community-focused financial institution committed to providing value added community banking through its 45 locations in North Carolina (including the Asheville metropolitan area, the "Piedmont" region, Charlotte, and a loan production office in Raleigh), Upstate South Carolina (Greenville), East Tennessee (including Kingsport/Johnson City, Knoxville, and Morristown) and Southwest Virginia (including the Roanoke Valley). The Bank is the 5th largest community bank headquartered in North Carolina.
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not historical facts but instead represent management's current expectations and forecasts regarding future events many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements. Factors that could cause our actual results to differ materially from those described in the forward-looking statements, include expected cost savings, synergies and other financial benefits from our recent acquisitions might not be realized within the expected time frames or at all, and costs or difficulties relating to integration matters might be greater than expected; increased competitive pressures; changes in the interest rate environment; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in HomeTrust's latest annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission-which are available on our website at www.hometrustbanking.com and on the SEC's website at www.sec.gov. Any of the forward-looking statements that we make in this presentation or our SEC filings are based upon management's beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2015 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect our operating and stock performance.
CONTACT: HomeTrust Bancshares, Inc. Dana L. Stonestreet - Chairman, President and Chief Executive Officer Tony J. VunCannon - Executive Vice President, Chief Financial Officer, and Treasurer 828-259-3939
Source:HomeTrust Bancshares, Inc.