UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 15, 2016
HOMETRUST BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Maryland | 001-35593 | 45-5055422 | ||
(State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification Number) | ||
10 Woodfin Street, Asheville, North Carolina | 28801 | |||
(Address of principal executive offices) | (Zip Code) | |||
Registrant's telephone number, including area code: (828) 259-3939 |
Not Applicable | ||||
(Former name or former address, if changed since last report) | ||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure
HomeTrust Bancshares, Inc. is furnishing this Current Report on Form 8-K in connection with a presentation being made by management at the FIG Partners 12th Annual CEO Forum on September 19-20, 2016 in Atlanta, Georgia. Attached hereto as Exhibit 99.1 and incorporated herein by reference is the text of that presentation.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 | FIG Partners CEO Forum Presentation Materials | |
2
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: September 15, 2016 | By: | /s/ Tony J. VunCannon | |
Tony J. VunCannon | |||
Executive Vice President, Chief Financial Officer, and Treasurer | |||
3
EXHIBIT INDEX
Exhibit No. | Description |
99.1 | FIG Partners CEO Forum Presentation Materials |
FIG Partners Bank CEO Forum
September 19-20, 2016
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 as “will,” “would,” “should,”
“could,” or “may.” Forward-looking statements are not historical facts but instead represent
management’s current expectations and forecasts regarding future events many of which are
inherently uncertain and outside of our control. Actual results may differ, possibly materially from those
currently expected or projected in these forward-looking statements. Factors that could cause our
actual results to differ materially from those described in the forward-looking statements, include
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 in HomeTrust’s latest annual Report on Form 10-K and Quarterly Reports
on Form 10-Q and other filings with the Securities and Exchange Commission-which are available on
our website at www.hometrustbanking.com and on the SEC’s website at www.sec.gov. Any of the
forward-looking statements that we make in this presentation or our SEC filings are based upon
management’s beliefs and assumptions at the time they are made and may turn out to be wrong
because of inaccurate assumptions we might make, because of the factors illustrated above or
because of other factors that we cannot foresee. We do not undertake and specifically disclaim any
obligation to revise any forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements. These risks could cause our
actual results for fiscal 2017 and beyond to differ materially from those expressed in any forward-
looking statements by, or on behalf of, us and could negatively affect our operating and stock
performance.
2
HomeTrust Bancshares, Inc. Overview
Headquarters: Asheville, NC Exchange/Ticker: NASDAQ: HTBI
Founded: 1926
Number of
Employees:
448
Locations: 39 (NC,SC,VA,TN) Stock Price: $19.00
Total Assets: $2.7 billion Price to TBV: 99%
Total Loans: $1.8 billion Market Cap: $341.9 million
Total Deposits: $1.8 billion
Average Daily
Volume:
29,934
Outstanding
Shares: 17,999,150
Shares
Repurchased
(since conversion on
July 11, 2012)
5,351,065
or approx. 26%
Financial data as of 6/30/16
Market data as of 9/14/16
3
4
Leader Role Age
Yrs in
Banking
Yrs
w/HTBI
Dana Stonestreet Chairman, President & Chief Executive
Officer
62 38 27
Tony VunCannon Executive Vice President & Chief Financial
Officer
51 28 24
Hunter Westbrook Executive Vice President & Chief Banking
Officer
53 29 5
Howard Sellinger Executive Vice President & Chief Information
Officer
63 41 41
Keith Houghton Executive Vice President & Chief Credit
Officer
54 27 3
Teresa White Executive Vice President & Chief
Administration Officer
59 11
(30 in HR)
6
Parrish Little Executive Vice President & Chief Risk
Officer
48 26 2
Kathy Redmond Senior Vice President & Director of Retail
Banking
61 43 6
243 114
Strategic Operating Committee
5
Converted to stock in July 2012 and raised $211.6 million
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 America branches
Added 22 new locations and $1 billion in assets
Converted from thrift charter to a bank charter in August 2014
United 7 bank names to one brand – HomeTrust Bank in October 2014
Enhanced Commercial Credit Department to support growth in commercial lending
Hired/Replaced 23 new Commercial Market Presidents/Commercial Relationship Managers
Increased core deposits(1) by over $780 million
Hired a Director of Treasury Management and enhanced product offerings
Added indirect auto lending as a line of business with a portfolio of over $100 million in 30 months
Expanding the mortgage line of business in our new acquired markets
Grown to the 6th largest community bank headquartered in NC
Foundation for Building a High Performing Community Bank
(1) Core deposits are defined as non-certificate or non-time deposit accounts.
6
Strong Footprint for Growth
Market Demographics
Markets Population
Asheville, NC/MSA 442,531
5 other non-metro markets 448,320
6 Original NC Markets at June 30, 2012 890,851
New Markets Since Conversion
July 2014 Charlotte, NC/Mecklenburg County 990,104
November 2014 Raleigh, NC/Wake County 978,065
July 2013 Greenville, SC/MSA 855,961
May 2014 Knoxville, TN/MSA 855,322
May 2014 Tri-Cities, TN/MSA 511,491
July 2014 Roanoke, VA/MSA 313,033
May/Nov 2014 3 other non-metro markets 231,072
9 Total New Markets 4,735,048
15 Grand Total 5,625,899
150% % Increase 532%
7
HomeTrust Growth Markets
Asheville, NC MSA
2016 unemployment at 3.7% down from 4.6% in 2015
No. 3 out of 18 for the World’s Best Cities for Millennials,
Matadornetwork.com, May 2016
No. 2 Best Startup City in America, Popular Mechanics, January 2015
No. 10 in Best Cities in the US and Canada, Travel & Leisure, July 2015
No. 34 for Best Places for Business & Careers, Forbes, November 2014
Greenville, SC MSA
2016 unemployment at 5.1% down from 5.7% in 2015
No. 6 list of America's Engineering Capitals, Forbes, 2014
No. 7 Best State for Business, Chief Executive Magazine, 2014
Best Cities for Jobs Fall 2013, Manpower Survey as reported in Forbes
Magazine
Charlotte, NC MSA
2016 unemployment at 4.5% down from 5.6% in 2015
No. 9 Fastest-Growing Cities, Jan. 2015 Forbes
No. 2 Best States for Businesses and Careers, Forbes, October 2015
No. 6 Fastest Growing Economies, WalletHub.com, September 2015
Raleigh, NC MSA
2016 unemployment at 4.1% down from 4.8% in 2015
#3 Best Cities For Young Professionals, Forbes, March 2016
#3 Best Cities for Young Families, Value Penguin, February 2016
#2 Best Large Cities to Live in, WalletHub, September 2015
Knoxville, Kingsport, Bristol, Johnson City, TN MSA Areas
Knoxville: 2016 unemployment at 3.5% down from 5.4% in 2015
Kingsport/Bristol: 2016 unemployment at 4.2% down from 5.8% in 2015
Johnson City: 2016 unemployment at 4.2% down from 6.2% in 2015
Tennessee: named the Fourth Best State in the Country for Business, Chief
Executive Magazine, 2016 Best & Worst States for Business list
Knoxville in top five for 10 Best Cities for Small Businesses, CNN Money,
August 2015
Tennessee: named 2014 State of the Year for economic development,
Business Facilities, 2014
Roanoke, VA MSA
2016 unemployment at 3.5% down from 4.9% in 2015
Virginia ranked No. 3 for Business Friendliness, CNBC 2015
Virginia ranked No. 4 for Best State for Doing Business, Forbes, 2014
Source: U.S. Bureau of Labor Statistics, Chamber of Commerce of named cities, Tennessee Department of Economic & Community Development, Virginia Economic Development Partnership
8
Phase I: Created a Foundation For Growth
Lines of Business – Infrastructure and Talent p
Markets To Grow In p
Phase II: Executing Our Strategic Plan with a Sense of Urgency
Sound and Profitable Organic Growth
Loans
Deposits
Lower our efficiency ratio
Noninterest income growth
Expense management
Streamlining current processes
Continue buying back undervalued shares
Create value for shareholders
Phase III: Consistently Improving Performance
9
Transitioning to a High Performing Community Bank
“De-Thrifting” the Balance Sheet
Organic Loan Growth in Nonmortgage Loans:
Commercial
Commercial real estate (CRE)
Commercial & industrial (C&I)
Commercial Construction
Indirect Auto
Core Deposit Growth:
Commercial checking
Fee generation
Planned runoff of higher rate, single service CD’s
Increasing Noninterest Income:
Mortgage banking income
Deposit fees
Treasury management
10
11
Loan Growth:
Loan growth of 9% in FY 2016 ($148MM)
Organic growth of 10% (excluding 1-4 residential)
107% growth in indirect auto loans ($56MM)
9% growth in commercial loans ($56MM - CRE, C&I, Commercial Construction)
$72MM increase in unfunded construction loans to contribute to fiscal 2017
organic growth
New Markets/Relationship Managers:
Hired 23 new Commercial Market Presidents/Relationship Managers in the last
36 months
83% of fiscal 2016 commercial production was from new markets
Product/Process Improvements:
Enhanced auto finance onboarding and vehicle title process
Added direct consumer lending products
Implementing new consumer loan origination system
Began to sell mortgages directly to FNMA to increase fee income
Cross-selling deposit products to 10% of indirect auto customers
Commercial loan process improvements
Enhanced construction loan risk management
Loan Highlights
12
$
8
2
1
$
7
8
4
$
8
8
3
$
9
8
6
$1
,083
$
4
1
1
$
3
8
3
$
6
1
5
$
7
0
0
$
7
5
0
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
2012 2013 2014 2015 2016
Lo
an
B
al
an
ce
Fiscal Year
Retail Consumer Commercial
5-Year CAGR of 8.27%
34%
25%
26.6%
5%
10%
Loans: 6/30/16
1-4 Family ($624MM)
HELOCs & Other Consumer ($459MM)
Commercial RE ($487MM)
Commercial Construction ($87MM)
Other Commercial ($177MM)
Commercial 41%
Dollars in millions
51%
16%
19%
3%
11%
Loans: 6/30/12
1-4 Family ($621MM)
HELOCs & Other Consumer ($200MM)
Commercial RE ($239MM)
Commercial Construction ($42MM)
Other Commercial ($130MM)
Commercial 33%
Loan Portfolio Composition
Increased commercial loan
portfolio by $339 million or
82% since 2012
13
$16,008
$1,636 $2,993
$28,649
$3,971
$4,013
$35,773
$13,389
$18,960
$112,349
$47,955
$34
,583
$13
7
,660
$16
4
,945
$22,933
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
CRE Commercial Construction C&I
Origi
n
at
io
n
s
Fiscal Year
2012 2013 2014 2015 2016
Dollars in thousands
Commercial Loan Production by Type
Regional Production excludes Municipal loans.
14
22,571
38,151
56,969
53,551
69,902
12,264
141,336
255,636
69,538
194,887
325,538
2012 2013 2014 2015 2016
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Commercial Production
Legacy New markets Total Commercial Production
83%
73%
82%
27% 17%
Production by market above excludes municipal leases.
Dollars in thousands
18%
Commercial Production by Market – Legacy/New Markets
Consumer Loan Production
15
$20
,787
$15
,839
$
3
3
,3
2
4
$9,598 $49
,841
$53
,010
$
5
4,5
9
8
$87
,844
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
HELOC-originated/Consumer Indirect auto
Origi
n
at
io
n
s
Fiscal Year
2012 2013 2014 2015 2016
Dollars in thousands
Mortgage Loan Production
16
$16
1
,379
$1
9
6,70
8
$33
,668
$12
0
,808
$22
7
,117
$35
,907
$
6
8
,2
4
2
$73
,501
$49
,455
$89
,299
$74
,353
$49
,689
$81
,577
$91
,963
$42
,493
$-
$50,000
$100,000
$150,000
$200,000
$250,000
1-4 Family Portfolio 1-4 Brokered Construction
Origi
n
at
io
n
s
Fiscal Year
2012 2013 2014 2015 2016
Dollars in thousands
Indirect Auto
Began in December 2013 after 12 months of due diligence
$108 million outstanding at June 30, 2016
Total net charge-offs of $296,000 or 27 bps compared to industry average of 56 bps(1)
59 strong dealerships all within our market area (Western NC and Upstate SC)
86% of indirect loans are originated to noncustomers - Cross-selling opportunities
Currently cross selling other bank products to 10% of our indirect auto customers
Average FICO of 744 (less than 4% are originated at subprime)
Weighted average yield of 3.02%
Weighted average term of 71 months
(1) Source: Experian charge-off data based on FICA score
17
Deposit/Retail Highlights
Deposit Growth:
5% core deposits growth in fiscal 2016 ($65MM)
6% growth in total checking accounts
15% growth in commercial checking accounts
24% planned runoff of CD’s
Reduced average cost of deposits to .28% in 4th quarter of fiscal 2016
Product/Process Improvements:
Cross-selling deposit products to 10% of indirect auto customers
Direct consumer lending
Introduced ‘HomeTrust At Work’ products
Continued focus on acquiring more customer wallet share
Enhancing online and mobile banking
Consolidated six branch offices
Right-sized branch office staffing through branch optimization project
Introduced ‘Universal Banker’ position
18
19
2012 2013 2014 2015 2016
Time Deposits $629,958 $540,387 $634,154 $577,075 $442,649
Money Market/Savings $348,519 $357,876 $530,221 $703,622 $731,137
Checking Accounts $230,683 $256,486 $418,671 $591,429 $628,910
Core Deposits % (excludes time deposits) 47.90% 53.20% 59.94% 69.18% 75.45%
0%
10%
20%
30%
40%
50%
60%
70%
80%
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000Dollars in thousands
2012 MMDA/Saving excludes $264.2MM related to investor funds
used to purchase Company stock for the July 11, 2012 IPO.
Deposit Portfolio Mix
20
52.1%
46.8%
40.1%
30.8%
24.6%
28.8%
31.0%
33.5%
37.6%
40.6%
19.1%
22.2%
26.4%
31.6%
34.9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2012 2013 2014 2015 2016
Time Deposits Money Market/Savings Checking Accounts
$442,649
$731,137
$628,910
Time Deposits
Money Market/Savings
Checking Accounts
Dollars in thousands
Deposit CompositionDeposit Migration
0.85%
0.63%
0.46%
0.30% 0.28%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
2012 2013 2014 2015 2016
Cost of Funds
2012 MMDA/Saving excludes $264.2MM related to investor funds
used to purchase Company stock for the July 11, 2012 IPO.
Deposit Composition
Bank of America Branch Purchase Impact
November 2014 – Acquired $236 MM of low cost Core Deposits
Younger Customer Demographics
Growth in deposit accounts of 60%
Debit card growth of 170%
Internet banking growth of 110%
5 Branch locations in Roanoke, VA to complement new Commercial LPO
Core deposits used to fund loan growth in Roanoke and other new growth markets
21
• HomeTrust Bank’s
acquisitions have shifted
the consumer customer
mix, with significant
increases in Gen X and
Gen Y (Millennials)
households.
• Baby Boomers continue
to comprise the largest
segment of consumer
households at the Bank –
36.3%.
• Younger consumers use
mobile/online channels
more often than
traditional retail
branches.
Household Mix Shifting Toward Younger Segments
22
-
5,000
10,000
15,000
20,000
25,000
30,000
Mature Boomers Gen X Gen Y Gen Z
10,450
13,708
6,298
5,370
1,235
16,271
25,957
14,615
12,493
2,151
Individuals by Generational Segment
Growth June 30, 2014 - March 31, 2016
June 30, 2014 March 31, 2016
Percentage Growth: 55.7% 89.4% 132.1% 132.6 74.2%
______________________________________________________________________________
Percent of Total: 22.8% 36.3% 20.4% 17.5% 3.0%
Enhanced Treasury Management
23
Goal - Increase Noninterest Income
Increased deposit product pricing January 2016
Deposit fees increased 8% in 4th quarter fiscal 2016 compared to
3rd quarter
Added new/improved merchant services program
Increased fee income from provider
New purchase card program
Bank receives larger share of debit card revenue
Increased discipline and monitoring of fee waivers and refunds
Creating Efficiencies/Expense Management
24
October 2015 – consolidated six branches - $1.2MM in expected annual
savings
December 2015 – Converted from a national charter bank to a state
chartered bank - $350,000 in expected annual savings
May 2016 – Branch optimization staffing study - $375,000 in expected
annual savings
June 2016 – Changed health care insurance providers to avoid $700,000
expense increase for the coming fiscal year
Summer 2016 – Efficiency study in process by Cornerstone Advisors
Nonperforming Assets / Total Assets
Net Charge-Offs & NCO / Avg. Loans
$34,373
$30,640
2.34%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2011 2012 2013 2014 2015 2016
Net Charge-Offs NCO/Avg. Loans
0.00%
1.00%
2.00%
3.00%
4.00%
-
10,000
20,000
30,000
40,000
50,000
60,000
2011 2012 2013 2014 2015 2016
ALL ALL/Tot. Loans
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
2011 2012 2013 2014 2015 2016
Dollars in thousands
Provision For / (Recovery Of) Loan Losses
$42,800
$15,600
$1,100
$(6,300)
$150 $-
(10,000)
-
10,000
20,000
30,000
40,000
50,000
2011 2012 2013 2014 2015 2016
Allowance for Loan Losses & ALL / Total Loans
Asset Quality
25
All data is as of or for the year ended June 30
Borrowed $409 million (1) of short-term advances from the FHLB
Borrowings increased FHLB stock requirements by $20 million to take advantage of high
dividend rate (4.87% for 3rd quarter 2016)
Invested remaining $389 million in short-term interest earning deposits (CD’s in other
banks, commercial paper, and deposits with the Federal Reserve Bank)
Increased net interest income by $2.0 million for the year
Decreased net interest margin 56 basis points – excluding this leveraging strategy,
net interest margin would be 3.94% for the year ended June 30, 2016
Will continue to impact net interest margin and ROA in fiscal 2017 while contributing to
earnings and EPS
(1) Average additional borrowings for FHLB leveraging strategy for the year ended June 30, 2016
Current FHLB Leveraging Strategy
26
Investment Portfolio Composition
Investments: 6/30/16
($264 MM)
22%
27%
4%
2%
45%
US Gov't Agency ($77 MM)
MBS-Gov't Agcy/GSE ($96 MM)
Munis ($16 MM)
Corporate Bonds ($8 MM)
FDIC Insured CDs in Other Banks($161 MM)
Yield: 1.61%
Avg Repricing Term: 2.05 years
Investments exclude $387MM in short-term
interest-earning deposits related to our
leveraging strategy
27
(Dollars in thousands, except per share amounts)
Source: Company documents previously filed with the SEC
Percent
Purchased Shares Total Cost
Avg Cost /
Share
1st Buy Back (completed 4/29/13) 4% 846,400 13,299$ 15.71$
2nd Buy Back (completed 12/2/13) 5% 1,041,245 17,055$ 16.38$
3rd Buy Back (completed 11/18/14) 5% 989,183 15,589$ 15.76$
4th Buy Back (completed 8/5/15) 5% 1,023,266 16,298$ 15.93$
5th Buy Back (completed on 1/20/16) 5% 971,271 18,089$ 18.62$
6th Buy Back (approved on 12/15/15) 5% 479,700 8,634$ 18.00$
Total repurchased through June 30, 2016 29% 5,351,065 88,964$ 16.63$
Remaining Shares to be purchased through 6th Buy Back 443,155
Total Shares Repurchased / Authorized 5,794,220
28
Stock Buy Backs
Merger and Acquisition Strategy
Geographic footprint – within or adjacent to our current market footprint
Attractive, growing market
Asset size – Target of $300 million to $800 million
Strong core deposit base
Earnings accretion of 10% or more
Minimum dilution to current tangible book value
Earnback period of 3.5 years or less
Significant but realistic cost savings
Reasonable price with a currency mix of cash and stock
Major credit issues have been resolved
Cultural fit
29
Quarter Ended June 30, 2016 Highlights
(Dollars in thousands, except per share amounts)
As Reported 06/30/2016 06/30/2015 Amount Percent
Net income 3,302$ 2,558$ 744$ 29%
EPS 0.19$ 0.14$ 0.05$ 36%
ROA 0.48% 0.37% 0.11% 30%
Net Interest Margin (tax equivalent) 3.43% 3.39% 0.04% 1%
Organic Loan Growth:
$ Growth 31,443$ 11,424$ 20,019$ 175%
% Growth (annualized) 6.93% 2.78% 4.15% 149%
Core Earnings (1)
N t income 3,554$ 2,794$ 760$ 27%
EPS 0.21$ 0.15$ 0.06$ 40%
ROA 0.52% 0.40% 0.12% 30%
Net Interest Margin (tax equivalent) 3.95% 4.06% (0.11%) (3%)
Quarter Ended Change
(1) See Non-GAAP Disclosure Appendix.
30
Source: Company documents previously filed with the SEC
Fiscal Year Ended June 30, 2016 Highlights
(Dollars in thousands, except per share amounts)
As Reported 06/30/2016 06/30/2015 Amount Percent
Net income 11,456$ 8,025$ 3,431$ 43%
EPS 0.65$ 0.42$ 0.23$ 55%
ROA 0.42% 0.32% 0.10% 31%
Net Interest Margin (tax equivalent) 3.37% 3.64% (0.27%) (7%)
Organic Loan Growth:
$ Growth 74,757$ 28,154$ 46,603$ 166%
% Growth 4.43% 1.88% 2.55% 136%
Core Earnings (1)
Net income 12,234$ 11,690$ 544$ 5%
EPS 0.70$ 0.61$ 0.09$ 15%
ROA 0.45% 0.47% (0.02%) (4%)
Net Interest Margin (tax equivalent) 3.94% 3.98% (0.04%) (1%)
31
Source: Company documents previously filed with the SEC
(1) See Non-GAAP Disclosure Appendix.
(Dollars in thousands, except per share amounts)
06/30/2016 06/30/2015 Amount Percent
Total assets 2,717,677$ 2,783,114$ (65,437)$ (2%)
Total loans 1,832,831 1,685,707 147,124 9%
Core deposits 1,360,047 1,295,051 64,996 5%
Total deposits 1,802,696 1,872,126 (69,430) (4%)
Nonperforming loans/ Total loans 1.01% 1.47% (0.46%) (31%)
Classified assets/Total assets 2.17% 2.92% (0.75%) (26%)
Book value per share 20.00$ 19.04$ 0.96$ 5%
Tangible book value per share (1) 19.05$ 18.06$ 0.99$ 5%
Source: Company documents previously filed with the SEC
Balance Sheet Highlights
32
(1) See Non-GAAP Disclosure Appendix.
100.0
110.0
120.0
130.0
140.0
150.0
160.0
170.0
180.0
07/11/12 12/31/12 06/30/13 12/31/13 06/30/14 12/31/14 06/30/15 12/31/2015 06/30/2016
Total Return Performance
HomeTrust Bancshares, Inc. NASDAQ Bank NASDAQ Composite
Total Shareholder Return
33
34
Well-capitalized balance sheet allows for a variety of strategic
alternatives, including:
Share repurchases
Repurchased 26% since conversion
Continuing to repurchase at below book value
Dividends
None to date with share price at or below book value
Strong capital ratios at June 30, 2016:
Tier 1 Leverage: 11.78%
Common Equity Tier 1: 14.39%
(1)
Tier 1 Risk-Based: 14.39%
Total Risk-Based Capital: 15.38%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Common Equity Tier 1 (1) Tier 1 Leverage Ratio Tier 1 Risk-Based Ratio Total Risk-Based Ratio
2012 2013 2014 2015 2016
6.5% = well
Capitalized 5% = well
Capitalized
8% = well
Capitalized
10% = well
Capitalized
Source: Federal Reserve Reports
(1) New capital ratio effective January 1, 2015, not applicable for earlier periods.
Liquidity and Capital to Growth
Phase I: Created a Foundation For Growth
Phase II: Executing Our Strategic Plan with a Sense of Urgency
Phase III: Consistently Improving Performance
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Transitioning to a High Performing Community Bank
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, NC 28801
(828) 259-3939
www.hometrustbanking.com
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37
Non-GAAP Disclosure Appendix
In addition to results presented in accordance with generally accepted accounting principles utilized in the United States ("GAAP"), this presentation contains
certain non-GAAP financial measures, which include: tangible book value per share, net income excluding merger-related expenses, nonrecurring state tax
expense, and impairment charges for branch consolidation; and return on assets ("ROA") and earnings per share ("EPS") excluding merger expenses, nonrecurring
state tax expense, and impairment charges for branch consolidation. The Company believes these non-GAAP financial measures and ratios as presented are useful
for both investors and management to understand the effects of certain items and provides an alternative view of the Company's performance over time and in
comparison to the Company's competitors.
Management elected to obtain additional FHLB borrowings beginning in November 2014 as part of a plan to increase net interest income. The Company believes
that showing the effects of the additional borrowings on net interest income and net interest margins is useful to both management and investors as these measures
are commonly used to measure financial institutions performance and performance against peers.
The Company believes these measures facilitate comparison of the quality and composition of the Company's capital and earnings ability over time and in
comparison to its competitors. These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not
be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures
may not be comparable to similarly titled measures reported by other companies.
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Non-GAAP Disclosure Reconciliation
39
Non-GAAP Disclosure Reconciliation
Set forth below is a reconciliation to GAAP of tangible book value and tangible book value per share:
40
Non-GAAP Disclosure Reconciliation
Set forth below is a reconciliation to GAAP net interest income and net interest margin as adjusted to exclude additional FHLB borrowings and proceeds from such
borrowings:
41
Non-GAAP Disclosure Reconciliation
Set forth below is a reconciliation to GAAP net income, ROA, and EPS as adjusted to exclude merger-related expenses, nonrecurring state tax expense, and
impairment charge for branch consolidation: