This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HomeTrust Bancshares Adopts Tax Benefits Preservation Plan

ASHEVILLE, N.C., Sept. 25, 2012 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (the "Company") (Nasdaq:HTBI) announced today that its Board of Directors has adopted a Tax Benefits Preservation Plan (the "Plan") designed to preserve substantial tax assets. The Plan is similar to tax benefits preservation plans adopted by other public companies with significant tax attributes. The Company's tax attributes include net operating losses that could be utilized in certain circumstances to offset taxable income and reduce its federal income tax liability. Although the Plan is now in effect, the Company intends to seek shareholder approval of the Plan at its first annual meeting of shareholders.

The Company's ability to use its tax attributes would be substantially limited if an "ownership change" occurred, as defined under Section 382 of the Internal Revenue Code and its implementing regulations. In general, an ownership change would occur if the Company's "5-percent shareholders," as defined under Section 382, collectively increase their ownership in the Company by more than 50 percentage points over a rolling three-year period.  Five-percent shareholders generally do not include certain institutional holders, such as mutual fund companies that hold the Company's equity securities on behalf of several individual mutual funds where no single fund owns 5 percent or more of the Company's equity securities.  

As part of the Plan, the Company's Board of Directors declared a dividend of one preferred stock purchase right for each outstanding share of Company common stock. The rights will be distributable to shareholders of record as of October 9, 2012, as well as to holders of common stock issued after that date, but would only be activated if triggered under the Plan and will not trade separately from the Company's common stock unless and until triggered. The Company's Board of Directors has the discretion to exempt certain purchases of Company securities from the provisions of the Plan. The Plan generally may be terminated by the Company's Board of Directors at any time prior to the rights being triggered and will be in effect for three years if not terminated sooner under the terms of the Plan. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs