The Plan is designed to reduce the likelihood that the Company will experience an ownership change by discouraging purchases that would increase the holdings of existing 5-percent shareholders or cause any person or group to become a 5-percent shareholder. There is no guarantee, however, that the Plan will prevent the Company from experiencing an ownership change.
"The Plan is designed to safeguard valuable tax attributes by reducing the likelihood of a Section 382 ownership change," said Dana L. Stonestreet, President and Chief Operating Officer of the Company. Mr. Stonestreet added: "We believe that the Plan is a critical component of our efforts to enhance shareholder value."
The issuance of the rights will not affect the Company's reported earnings per share and is not taxable to the Company or its shareholders.
Additional information about the Plan will be contained in a Current Report on Form 8-K and in a Registration Statement on Form 8-A that the Company will be filing with the Securities and Exchange Commission.
About HomeTrust Bancshares, Inc.
On July 10, 2012, the Company became the holding company for HomeTrust Bank (the "Bank") in connection with the completion of the Bank's conversion from the mutual to the stock form of organization and the Company's related initial public stock offering. The Bank, including its banking divisions – HomeTrust Bank, Tryon Federal Bank, Shelby Savings Bank, Home Savings Bank, Industrial Federal Bank, Cherryville Federal Bank and Rutherford County Bank, is a community-oriented financial institution with $1.7 billion in assets as of June 30, 2012. The Bank offers traditional financial services within its local communities through its 20 full service offices in Western North Carolina, including the Asheville metropolitan area, and the "Piedmont" region of North Carolina. The Bank is the 10th largest bank headquartered in North Carolina.
The HomeTrust Bancshares, Inc. logo is available at
Statements in this press release that are not historical facts may be "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, by their nature, are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated in such statements, including 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 from time to time in documents filed and furnished by the Company with the Securities and Exchange Commission.
CONTACT: Dana L. Stonestreet
President and Chief Operating Officer