Hometrust Bancshares, Inc. · NYSE:HTB
Hometrust Bancshares — Merger or Acquisition (September 2016)
19 slides from Hometrust Bancshares's merger presentation, Sep 21, 2016
Slide 1: Acquisition of TriSummit Bancorp, Inc.
Acquisition of TriSummit Bancorp, Inc. September 21, 2016
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation 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
Slide 3: Additional Information
3 Additional Information HomeTrust Bancshares, Inc. will file a registration statement on Form S-4 with the SEC in connection with the proposed transaction. The registration statement will include a proxy statement of TriSummit that also constitutes a prospectus of HomeTrust, which will be sent to t
Slide 4: Transaction Overview
4 • HomeTrust Bancshares, Inc. will acquire TriSummit Bancorp, Inc. in a 50% stock / 50% cash transaction • TriSummit Bank will be merged into HomeTrust Bank (expected to close early calendar year 2017) • Prior to close HTBI intends to redeem TriSummit’s $7.1 million of TARP Preferred Stock Transact
Slide 5: Financial Impact of Transaction
5 Financial Impact of Transaction Transaction Highlights Pro Forma Consolidated Highlights(1) • 2018 estimated EPS accretion > 30% (based upon HTBI’s 6/30/16 year-end and 100% phase-in of cost savings) • 4.0% tangible book value dilution at close • Earnback period is approximately 3.5 years (utilizi
Slide 6: TriSummit Bancorp, Inc. – Company Overview
6 Highlights TriSummit Bancorp, Inc. – Company Overview Source: Company Documents (1) Profitability data as of the six months ended June 30, 2016. (2) Common equity includes $4.0M of convertible preferred stock Pro Forma Geographic Footprint Consolidated Balance Sheet Summary ($000s) June 30, 2016 T
Slide 7: Pro Forma Deposit Market Share
7 Pro Forma Deposit Market Share Source: SNL Financial; deposit market share data as of 6/30/15. Rank Institution (ST) Number of Branches Deposits in Market ($000) Market Share (%) 1 First Horizon National Corp. (TN) 7 490,293 25.65 2 Regions Financial Corp. (AL) 5 420,429 21.99 3 BancTenn Corp. (TN
Slide 8: Key Transaction Assumptions
8 Key Transaction Assumptions (1) Note: 25% phase-in due to HTBI’s 6/30 year-end; only 50% of fiscal year 2017 remains after estimated close of 1/1/17. Cost Savings • Expected noninterest expense savings of approximately 48%, with 25%(1) being achieved during fiscal 2017 and 100% in fiscal 2018 (exc
Slide 9: Compelling Transaction
9 Compelling Transaction Significant market overlap – provides opportunities to increase efficiencies and scale the infrastructure HTBI has established in the northeastern Tennessee market including the consolidation of three branch locations of combined institutions Shared community bank cultur
Slide 10: HTBI Foundation for Growth and Performance
10 HTBI Foundation for Growth and Performance • Converted to stock in July 2012 and raised $211.6M • Added 6 larger growing markets in NC, SC, VA and East TN – 3 Acquisitions – 2 New Commercial Loan Production Offices From “lift-outs” of existing commercial lending teams – Purchased 10 Bank of Ameri
Slide 11: Execution of Growth Initiatives
11 Execution of Growth Initiatives Growth Market Strong Footprint for Growth HTBI has targeted the Knoxville, Kingsport, Bristol, Johnson City, TN MSA as a growth market and continues to execute its plan to improve market share Knoxville: 2016 unemployment at 3.5% down from 5.4% in 2015 Kingspor
Slide 12: Supplemental Information
12 Supplemental Information
Slide 13: HomeTrust Bancshares, Inc. – Company Overview
13 HomeTrust Bancshares, Inc. – Company Overview Source: SNL Financial and Company Filings. (1) Nonperforming assets excluding restructured loans (nonaccrual loans, real estate owned and repossessed assets) as a percent of total assets. (2) See non-GAAP disclosure appendix. Highlights Stock Performa
Slide 14: Strong Capital Position
14 Strong Capital Position Capital Ratios Capital Ratios (%) • HTBI remains well-capitalized after several successful acquisitions • Management continues to deploy capital through organic growth, stock buybacks, and strategic partnerships with community banks Source: SNL Financial; data as of 6/30/1
Slide 15: Pro Forma Loan Composition
15 Pro Forma Loan Composition Source: SNL Financial. Data as of 6/30/16. Results in loan portfolio growth of 13% HTBI Loan Composition TriSummit Loan Composition Pro Forma Amount % of Total Amount % of Total Amount % of Total HTBI Loans ($000) (%) TriSummit Loans ($000) (%) Pro Forma Loans ($000) (%
Slide 16: Pro Forma Deposit Composition
16 Pro Forma Deposit Composition Source: SNL Financial and Company filings. Data as of 6/30/16. Over $700M of transaction accounts combined HTBI deposit composition has been transformed from a thrift to a community bank composition since 2012 HTBI Deposit Composition TriSummit Deposit Composition Pr
Slide 17: Investor Contacts
17 Investor Contacts Dana Stonestreet Chairman, President & CEO dana.stonestreet@hometrustbanking.com Hunter Westbrook EVP/Chief Banking Officer hunter.westbrook@hometrustbanking.com Tony VunCannon EVP/Chief Financial Officer/Treasurer tony.vuncannon@hometrustbanking.com 10 Woodfin Street Asheville,
Slide 18: Non-GAAP Disclosure Appendix
Non-GAAP Disclosure Appendix
Slide 19: Non-GAAP Disclosure Reconciliation
19 Non-GAAP Disclosure Reconciliation As of (dollars in millions) June 30, 2016 Total stockholder equity 360$ Less: goodwill, core deposits, net of taxes (17) Tangible equity 343$ Total assets 2,718$ Less: goodwill, core deposits, net of taxes (17) Total tangible assets 2,701$ Tangible equity to tan
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