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ASHEVILLE, N.C. and GREENVILLE, S.C., May 6, 2013 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. ("HomeTrust") (Nasdaq:HTBI) and BankGreenville Financial Corporation ("BankGreenville") (OTCQB:BGVF) jointly announced today the signing of a definitive agreement under which HomeTrust will acquire BankGreenville. Upon the completion of the transaction, the combined company will have approximately $1.7 billion in assets.
"We are excited to expand our franchise into the upstate South Carolina market and to partner with such a quality community bank," said Dana Stonestreet, President and Chief Operating Officer of HomeTrust. "With our strong capital base and historical success in partnership growth, we are well-positioned to forge additional community bank strategic partnerships across the Carolinas."
Russel Williams, President and Chief Executive Officer of BankGreenville, commented, "This merger is a combination of two companies with very similar philosophies, cultures and core values. I look forward to serving as the Greenville Market President for HomeTrust and continuing to serve our clients with additional products and services. Our current customer service and lending staff will remain in place, and we expect to add new people as we join the HomeTrust team and increase our market presence. With strong capital support, we are excited to have the resources to grow and expand with the ability to make larger loans and be a significant contributor to the economic growth in Greenville County."
Established in 2006, BankGreenville has over $110 million in assets and operates a full service banking facility out of its headquarters in Greenville, SC. The BankGreenville location is situated at 499 Woodruff Road, in close proximity to the rapidly developing Verdae community, a 1,100 acre master planned project with residential, commercial, medical office, and retail components.