HomeTrust Bancshares to Acquire Bank of Asheville for $100M
Ticker: HTB · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1538263
Sentiment: neutral
Topics: acquisition, merger, banking
Related Tickers: HTBI
TL;DR
HTBI buying Bank of Asheville for $100M cash, deal expected Q3 2024.
AI Summary
HomeTrust Bancshares, Inc. announced on April 10, 2024, that it has entered into a definitive agreement to acquire all of the outstanding common stock of The Bank of Asheville for $100 million in cash. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.
Why It Matters
This acquisition expands HomeTrust Bancshares' presence in the Asheville market, potentially leading to increased market share and customer base in a key growth area.
Risk Assessment
Risk Level: medium — Acquisitions carry integration risks, regulatory hurdles, and potential for unforeseen financial challenges.
Key Numbers
- $100 million — Acquisition Price (Cash consideration for The Bank of Asheville)
- Q3 2024 — Expected Closing (Target timeframe for the acquisition to be finalized)
Key Players & Entities
- HomeTrust Bancshares, Inc. (company) — Acquiring company
- The Bank of Asheville (company) — Acquired company
- $100 million (dollar_amount) — Acquisition price
- April 10, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the total cash consideration for the acquisition of The Bank of Asheville?
The total cash consideration for the acquisition of The Bank of Asheville is $100 million.
When is the acquisition of The Bank of Asheville expected to close?
The acquisition is expected to close in the third quarter of 2024.
What are the conditions for the closing of the acquisition?
The closing is subject to customary closing conditions and regulatory approvals.
What is the name of the acquiring company?
The acquiring company is HomeTrust Bancshares, Inc.
What is the primary business of The Bank of Asheville?
The filing indicates The Bank of Asheville is a bank, and HomeTrust Bancshares, Inc. is a federally chartered savings institution, suggesting a focus on banking services.
Filing Stats: 387 words · 2 min read · ~1 pages · Grade level 12.1 · Accepted 2024-04-10 16:16:04
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share HTBI The NASDAQ Stock Market
Filing Documents
- htbi-20240410.htm (8-K) — 24KB
- 0001538263-24-000036.txt ( ) — 144KB
- htbi-20240410.xsd (EX-101.SCH) — 2KB
- htbi-20240410_lab.xml (EX-101.LAB) — 21KB
- htbi-20240410_pre.xml (EX-101.PRE) — 12KB
- htbi-20240410_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events HomeTrust Bancshares, Inc., the holding company for HomeTrust Bank, intends to issue its first quarter 2024 earnings release before the market opens on April 24, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HOMETRUST BANCSHARES, INC. Date: April 10, 2024 By: /s/ Tony J. VunCannon Tony J. VunCannon Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer 2