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): July 31, 2017
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | [X] |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | [ ] |
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 KBW 2017 Community Bank Investor Conference on August 1-2, 2017 in New York City. 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 | KBW 2017 Community Bank Investor 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: July 31, 2017 | By: | /s/ Tony J. VunCannon | |
Tony J. VunCannon | |||
Executive Vice President, Chief Financial Officer, and Treasurer | |||
3
EXHIBIT INDEX
Exhibit No. | Description |
99.1 | KBW 2017 Community Bank Investor Presentation Materials |
KBW 2017 Community Bank
Investor Conference
August 1-2, 2017
Forward-Looking Statements
2
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
expected cost savings, synergies and other financial benefits from our acquisition of TriSummit might
not be realized within the expected time frames or at all, and costs or difficulties relating to integration
matters might be greater than expected; 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 2018 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.
HomeTrust Bancshares, Inc. Overview
Headquarters: Asheville, NC Exchange/Ticker: NASDAQ: HTBI
Founded: 1926
Number of
Employees:
486
Locations: 42 (NC, SC, VA, TN) Stock Price: $24.45
Total Assets: $3.2 billion Price to TBV: 126%
Total Loans: $2.3 billion Market Cap: $463.8 million
Total Deposits: $2.1 billion
Average Daily
Volume:
49,524
Outstanding
Shares: 18,967,875
Shares
Repurchased
(since Feb 19, 2013)
5,351,065
or approx. 26%
Financial data as of June 30, 2017
Market data as of July 25, 2017
3
Strategic Operating Committee
4
Leader Role Age
Yrs in
Banking
Yrs
w/HTBI
Dana Stonestreet Chairman, President & Chief
Executive Officer
63 39 28
Tony VunCannon Executive Vice President & Chief
Financial Officer
52 29 25
Hunter Westbrook Executive Vice President & Chief
Banking Officer
54 30 5
Howard Sellinger Executive Vice President & Chief
Information Officer
64 42 42
Keith Houghton Executive Vice President & Chief
Credit Officer
55 28 3
Teresa White Executive Vice President & Chief
Administration Officer
60 12
(31 in HR)
6
Parrish Little Executive Vice President & Chief Risk
Officer
49 27 2
207 111
Phase I: Created a Foundation For Growth
Lines of Business – Infrastructure and Talent
New markets for growth
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
Repurchase shares opportunistically
Highly accretive in-market acquisitions
Phase III: Consistently improving performance
Transitioning to a High Performing Community Bank
5
$318
$431
$585 $605 $609
$686 $711 $722
$748
$885 $926
$1,124
$1,348
$1,470
$1,641 $1,638
$1,720
$1,583
$2,074
$2,783
$2,718
$3,207
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
($000
)
Assets Loans Deposits
Tryon
Federal
Partnership
1996
Shelby
Savings
Partnership
1998
Home
Savings
Partnership
2005
Industrial
Federal
Partnership
2010
BankGreenville
Merger
2013
Cherryville
Federal
Partnership
2011
Mergers with
Jefferson
Federal, Bank of
Commerce and
Bank of America
Branches
2014
TriSummit
Merger
2017
2012 Stock
Conversion
Growth Since 1996
6
Foundation for Growth and Performance
• Converted to stock in July 2012 and raised $211.6MM
• Added 6 larger growing markets in NC, SC, VA and East TN
• 4 whole bank acquisitions
• 3 new Commercial Loan Production Offices from “lift-outs” of existing commercial lending teams
• Purchased 8 Bank of America branches
• Added new metro markets with populations of more than 4.7 million to legacy markets of 900,000
• Added 22 new locations and $1.6 billion in assets
• Hired a Director of Mortgage Lending to expand this line of business in our new metro markets
• Added a Consumer Banking Executive to focus on improving the retail and consumer lines of business
• Hired 29 new Commercial Market Presidents / Commercial Relationship Managers to grow commercial
lending
• Added new lines of business and experienced leaders
• Indirect Auto Finance - grown portfolio to over $140 million
• Municipal Finance – portfolio of over $100 million
• Treasury Management
• SBA 7(a) Loan Program
• Equipment Finance
• Consolidated 10 branch offices
• Grown to the 2nd largest community bank headquartered in NC (after recent acquisitions)
7
8
Strong Footprint for Growth
9
Impact of New Metro Markets Population
890,851 890,851 890,851 890,851
2,222,774 2,222,774
2,512,274
3,113,625
5,625,899
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
2012 2013 2014 2015
532% Increase in Market Population
Original NC Markets:
- Asheville, NC/MSA (442,531)
- 5 Other non-metro markets (448,320)
New Markets:
- Greenville, SC/MSA (855,961)
- Knoxville, TN/MSA (855,322)
- Tri-Cities, TN/MSA (511,491)
New Markets:
- Charlotte, NC/Mecklenburg County (990,104)
- Roanoke, VA/MSA (313,033)
- Raleigh, NC/Wake County (978,065)
- 3 Other non-metro markets (231,072)
Source: U.S. Bureau of Labor Statistics; population amounts as of the date of each acquisition
HomeTrust Growth Markets
10
Asheville, NC MSA
2017 unemployment at 3.5% down from 3.7% in 2016
No. 1 Best in the U.S. Destination for 2017, Lonely Planet, January 2017
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
Charlotte, NC MSA
2017 unemployment at 4.0% down from 4.4% in 2016
No. 13 Fastest Growing Cities, Forbes, March 2016
No. 7 Best City to Start a Business, WalletHub, May 2016
No. 11 Highest Startup Growth, Business Insider, June 2016
No. 2 Best States for Businesses and Careers, Forbes, October 2015
Knoxville, Kingsport, Bristol, Johnson City, TN MSA Areas
Knoxville: 2017 unemployment at 2.7% down from 3.9% in 2016
Kingsport/Bristol: 2017 unemployment at 3.6% down from 4.6% in 2016
Johnson City: 2017 unemployment at 3.2% down from 4.6% in 2016
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
2017 unemployment at 3.8% up from 3.7% in 2016
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; unemployment rates as of June for each year
Raleigh, NC MSA
2017 unemployment at 3.8% down from 4.1% in 2016
No. 14 Fastest Growing Metro in U.S., U.S. Census Bureau, March 2017
No. 10 Boomtowns of 2016, SmartAssets, January 2017
#3 Best Cities For Young Professionals, Forbes, March 2016
#3 Best Cities for Young Families, Value Penguin, February 2016
Greenville, SC MSA
2017 unemployment at 3.3% down from 4.1% in 2016
No. 9 Top 10 Small Cities Where Business is Thriving, Entrepreneur, 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
Changes in the past 5 years
Commercial lenders in legacy markets – June 2012 5
Attrition in legacy markets (4)
Hired/replaced in legacy markets 4
Acquired through bank acquisitions 21
Attrition after bank acquisitions (17)
Hired/replaced in acquired markets 13
“Lift-outs” of commercial teams in 3 new metro markets 8
_____
Current Market Presidents/Commercial Relationship Managers 30
Leaders of new lending lines of business 3
____
High Performing Commercial Lending Team – July 2017 33
11
Building a High-Performing Commercial Lending Team
(29 hired in the
past 5 years)
(32 hired in the
past 5 years)
12
Adding Talent for Growth
Commercial and Line of Business Leaders
13
New Greensboro Commercial Loan Production Office
• Announced July 31, 2017
• Strong new metro market
• Greensboro-High Point MSA with population of 723,801
• 3rd largest MSA in North Carolina behind Charlotte and Raleigh
• 7th metro market added since our stock conversion
• Natural geographic expansion – existing offices in adjacent counties
• “Lift-out” of experienced Greensboro market commercial lending team
• Robert Gray – Market President – 20 years of experience
• Chad Davis – Commercial Relationship Manager – 11 years of experience
• Previous experience includes Centura Bank, SunTrust Bank, and NewBridge Bank
• Focused on C&I lending
• Currently only 10% of our total loan portfolio
• Capitalizing on high degree of disruption in the Greensboro market due to recent mergers
• Premier Commercial Bank → NewBridge Bank→ Yadkin → FNB
• High Point Bank → BNC Bank → Pinnacle Bank
• Carolina Bank → First Bank
5-Year Growth Since Conversion
14
Mutual/Stock Fiscal
Conversion Year End
09/30/2012 06/30/2017 $ %
Total Assets $1,603 $3,207 $1,604 100%
Total Loan Portfolio $1,203 $2,351 $1,148 95%
Total Deposit Portfolio $1,160 $2,048 $888 77%
Checking Accounts 239 779 540 226%
Money Market/Savings 337 807 470 139%
Total Core Deposits 576 1,586 1010 175%
Time Deposits 584 462 (122) -21%
Locations 20 42 22 110%
Conversion
Change Since
15
Continuing To “De-Thrift” the Balance Sheet
Organic Loan Growth in Nonmortgage Loans:
Commercial
Commercial real estate (CRE)
Commercial & industrial (C&I)
Commercial Construction
Indirect Auto
SBA Lending
Equipment Finance
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
SBA Lending
16
Loan Highlights
Loan Portfolio Growth:
Organic loan growth of 14% in FY 2017 vs. 4% in FY 2016 ($243MM vs $75MM)
30% growth in indirect auto loans ($32MM)
53% growth in commercial loans ($400MM* - CRE, C&I, Commercial Construction,
Municipal Leases)
88% of fiscal 2017 commercial production was from new metro markets
Recent Highlights/Enhancements:
Hired 12 new Commercial Market Presidents/Relationship Managers in last 12 months
Hired/replaced 29 Commercial Market Presidents/Relationship Managers in last 5 years
Announced new SBA 7(a) loan program
Announced new Equipment Finance line of business
Acquired United Financial – Municipal Finance line of business
Announced new Greensboro Commercial Loan Production Office with focus on C&I lending
Added 10 new mortgage loan officers in the last 12 months in 5 new metro markets
Increased total mortgage loan production by 41% ($305MM vs $216MM)
* Includes $185 million from TriSummit Bank acquisition
Loan Portfolio Composition
$
6
2
1
$
6
0
2
$
6
6
0
$
6
5
0
$
6
2
4
$
6
8
4
$200 $182
$223 $336
$459
$518 $411 $383
$615
$700
$750
$1
,150
$-
$500
$1,000
$1,500
$2,000
$2,500
2012 2013 2014 2015 2016 2017
Lo
an
B
ala
n
ce
Fiscal Year
1-4 Family HELOCs & Other Consumer Commercial
5-Year CAGR of 13.81%
29%
22%
31.0%
8%
10%
Loans: 6/30/17
1-4 Family ($684MM)
HELOCs & Other Consumer ($518MM)
Commercial RE ($730MM)
Commercial Construction ($198MM)
Other Commercial ($222MM)
Commercial 48%
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%
Increased commercial loan
portfolio by $739 million or
180% since 2012
17
18
Excludes municipal leases.
Dollars in thousands
Commercial Loan Production by Type
$4,013
$3,971
$28,649
$18,960
$13,389
$35,773
$34,583
$47
,955
$
1
1
2
,3
4
9
$22,933
$16
4
,945
$13
7
,660
$92
,591
$19
2
,803
$23
8
,870
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
C&I Commercial Construction CRE
Origi
n
at
io
n
s
Fiscal Year
2013 2014 2015 2016 2017
Commercial Real Estate Composition
12%
29%
11%
12%
7%
10%
5%
3%
11%
As of 6/30/17
Multifamily Owner Occupied Office
Retail Hospitality Shopping Centers
Industrial Healthcare Other
19
20
22,571 38,151
56,969 53,551 69,902 62,413
12,264
141,336
255,636
461,851
5 5
8
15
19
29
-
5
10
15
20
25
30
2012 2013 2014 2015 2016 2017
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
Legacy New markets CRM/Lenders
88%
12%
69,538
Production by market above excludes municipal leases.
Dollars in thousands
Commercial Production by Market - Legacy/New Markets
194,887
524,264
325,538
21
Dollars in thousands
Consumer Loan Production
$15
,839
$33
,324
$9,598 $49
,841
$5
3
,010
$54
,598
$87
,844
$49
,794
$84
,707
$-
$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
2013 2014 2015 2016 2017
$0
22
Mortgage Loan Production
$35
,907
$22
7
,117
$12
0
,808
$49
,455
$
7
3
,5
0
1
$68
,242
$49
,689
$74
,353
$89
,299
$42
,493
$91
,963
$81
,577
$71
,674
$
1
3
4
,2
5
8
$99
,220
$-
$50,000
$100,000
$150,000
$200,000
$250,000
Construction 1-4 Family Brokered 1-4 Family Portfolio
Origi
n
at
io
n
s
Fiscal Year
2013 2014 2015 2016 2017
Dollars in thousands
23
Deposit/Retail Highlights
Deposit Growth:
17% core deposit* growth in fiscal 2017 ($226MM)
24% growth in total checking accounts
41% growth in commercial checking accounts
Core deposits* now make up 77% of total deposits
Average cost of total deposits remained at .28% for fiscal 2017
Customer/Household Trends in fiscal 2017:
8% growth in total retail households
16% growth in total retail loan households
7% increase in number of deposit households
Consistently favorable trends in the number of engaged checking and ‘sweet spot’ relationships –
those households with checking, savings, and credit accounts (all 3)
Product/Process Improvements:
Introducing new Consumer Lending and HELOC origination platform (MeridianLink) in Q1 2018
Enhanced online and mobile banking, including improvements to online account opening
Consolidated three branches concurrently with TriSummit Bank data conversion in March 2017
Continually refining staffing models to achieve/maintain optimum FT/PT balance
Construction to begin on Cary denovo branch in Fall 2017, opening slated for Spring 2018
*Core deposits exclude all time deposits/certificates of deposit.
24
Deposit Portfolio Mix
2012 2013 2014 2015 2016 2017
Time Deposits $629,958 $540,387 $634,154 $577,075 $442,649 $462,146
Money Market/Savings $348,519 $357,876 $530,221 $703,622 $731,137 $806,756
Checking Accounts $230,683 $256,486 $418,671 $591,429 $628,910 $779,549
Core Deposits %
(excludes time deposits)
47.90% 53.20% 59.94% 69.18% 75.45% 77.44%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000 Total
Deposits:
$1,583,046
Total
Deposits:
$1,872,126
Total
Deposits:
$1,802,696
Dollars in
thousands
2012 MMDA/Saving excludes $264.2MM related to investor funds used to purchase Company stock for the July 11, 2012 IPO.
Total
Deposits:
$1,209,160
Total
Deposits:
$1,154,749
Total
Deposits:
$2,048,451
Deposit Composition
52.1%
46.8%
40.1%
30.8%
24.6% 22.6%
28.8%
31.0%
33.5%
37.6%
40.6%
39.4%
19.1%
22.2%
26.4%
31.6%
34.9%
38.1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2012 2013 2014 2015 2016 2017
Time Deposits Money Market/Savings Checking Accounts
$462,146
$806,756
$779,549
Time Deposits
Money Market/Savings
Checking Accounts
Dollars in thousands
Deposit CompositionDeposit Migration
0.85%
0.63%
0.46%
0.30% 0.28% 0.28%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
2012 2013 2014 2015 2016 2017
Cost of Funds
Deposit balances as of year end; Cost of funds are averages for the fiscal year; 2012 MMDA/Saving
excludes $264.2MM related to investor funds used to purchase Company stock for the July 11, 2012 IPO.
25
26
Growing Noninterest Income
New SBA Line of Business
Gain from loan sales
Third party servicer to keep overhead low
Mortgage Banking
Expanded into 5 of our new metro markets
Added 10 new mortgage loan officers in the last 12 months
Increasing rates to enhance gain on loan sales
Moving to a “mortgage banking” model and process and away from the
“traditional thrift” model
Treasury Management
Focus on increasing fees and appropriate pricing
Additional debit card revenue from purchase card program
Increased fees from new merchant services program
Increased discipline and monitoring of fee waivers and refunds – reduced
64% in fiscal 2017
27
Creating Efficiencies/Expense Management
Consolidated 10 branch offices
Closed 6 overlapping rural offices
Consolidated 4 offices related to acquisitions
Branch optimization staffing study reduced expense $375,000
annually
Changed health care insurance providers to avoid $700,000 increase
Reduced REO-related expense by $385,000, or 21% in fiscal 2017
Achieved 50% cost savings in TriSummit acquisition
Nonperforming Assets / Total Assets
Net Charge-Offs & NCO / Avg. Loans
$30,640
$4
,127
0.34%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2012 2013 2014 2015 2016 2017
Net Charge-Offs NCO/Avg. Loans
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
2012 2013 2014 2015 2016 2017
ALL ALL/Tot. Loans
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
2012 2013 2014 2015 2016 2017
Dollars in thousands
Provision For / (Recovery Of) Loan Losses
$15,600
$1,100
$(6,300)
$150
$- $-
(10,000)
(5,000)
-
5,000
10,000
15,000
20,000
2012 2013 2014 2015 2016 2017
Allowance for Loan Losses & ALL / Total Loans
Asset Quality
28
All data is as of or for the year ended June 30
29
Current FHLB Leveraging Strategy
Borrowed $318 million (1) of additional short-term advances from the FHLB.
Average borrowings for the year totaled $578 million.
Borrowings increased FHLB stock requirements to $32 million to take
advantage of high dividend rate (4.77% for 4th quarter 2017)
Used funds to originate loans and invested 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 $1.8 million for the year
Decreased net interest margin 39 basis points – excluding this leveraging
strategy, net interest margin would be 3.88% for the year ended June 30, 2017
Will continue to impact net interest margin and ROA in fiscal 2018 while
contributing to earnings and EPS
Plan to continue reducing leveraging strategy over time
(1) Average additional borrowings for FHLB leveraging strategy for the year ended June 30, 2017
Investment Portfolio Composition
Investments: 6/30/17
($281 MM)
24%
33%
12%
2%29%
US Gov't Agency ($66 MM)
MBS-Gov't Agcy/GSE ($93 MM)
Munis ($34 MM)
Corporate Bonds ($6 MM)
FDIC Insured CDs in Other Banks($82 MM)
Yield: 1.76%
Avg Repricing Term: 2.13 years
Investments exclude $245MM in short-
term interest-earning deposits related
to our leveraging strategy
30
31
• Organic loan growth
• Opportunistic acquisitions at reasonable prices
• Share repurchases – Repurchased 26% since 2012 conversion
• Dividends - None to date with low price to tangible book value
13.06%
11.13%
13.06%
13.89%
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 2017
6.5% = well
Capitalized
5% = well
Capitalized
8% = well
Capitalized
10% = well
Capitalized
Source: Federal Reserve Reports as of each fiscal year ended June 30
(1) Common Equity Tier 1 Ratio was effective January 1, 2015, not applicable for earlier periods.
Continuing to Leverage Capital
32
Opportunistic Acquisition Strategy
Geographic footprint – within or adjacent to our current market footprint
Attractive, growing market
Asset size – Target of $300 million to $800 million
Strong core deposit base
Earnings accretion of 10% or more
Minimum dilution to current tangible book value
Earnback period of 4 years or less
Significant but realistic cost savings
Reasonable price with a currency mix of cash and stock
No major credit issues
Cultural fit
(Dollars in thousands, except per share amounts)
Source: Company documents previously filed with the SEC
Percent
Purchased of
Outstanding
Shares
Number of
Shares Total Cost
Avg Cost /
Share
1st Buy Back (completed 4/29/13) 4% 846,400 13,299$ 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, 2017 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
33
Stock Buy Backs
Quarter Ended June 30, 2017 Highlights
(Dollars in thousands, except per share amounts)
As Reported 06/30/2017 06/30/2016 Amount Percent
Net income 4,766$ 3,302$ 1,464$ 44%
EPS - Diluted 0.25$ 0.19$ 0.06$ 32%
ROA 0.61% 0.48% 0.13% 27%
Net Interest Margin (tax equivalent) 3.53% 3.43% 0.10% 3%
Organic Loan Growth:
$ Growth 68,158$ 31,443$ 36,715$ 117%
% Growth (annualized) 12.90% 6.93% 5.97% 86%
Core Earnings (1)
Net income 4,809$ 3,548$ 1,261$ 36%
EPS 0.25$ 0.21$ 0.04$ 19%
ROA 0.61% 0.52% 0.09% 17%
Net Interest Margin (tax equivalent) 3.82% 3.95% (0.13%) (3%)
Quarter Ended Change
(1) See Non-GAAP Disclosure Appendix.
34
Source: Company documents previously filed with the SEC
Fiscal Year Ended June 30, 2017 Highlights
(Dollars in thousands, except per share amounts)
As Reported 06/30/2017 06/30/2016 Amount Percent
Net income 11,847$ 11,456$ 391$ 3%
EPS - Diluted 0.65$ 0.65$ -$ 0%
ROA 0.40% 0.42% (0.02%) -5%
Net Interest Margin (tax equivalent) 3.49% 3.37% 0.12% 3.56%
Organic Loan Growth:
$ Growth 242,501$ 74,757$ 167,744$ 224%
% Growth 14.40% 4.43% 9.97% 225%
Co e Earnings (1)
Net income 17,111$ 12,228$ 4,883$ 40%
EPS - Diluted 0.94$ 0.70$ 0.24$ 34%
ROA 0.58% 0.45% 0.13% 29%
Net Interest Margin (tax equivalent) 3.88% 3.94% (0.06%) (2%)
35
Source: Company documents previously filed with the SEC
(1) See Non-GAAP Disclosure Appendix.
(Dollars in thousands, except per share amounts)
06/30/2017 06/30/2016 Amount Percent
Total assets 3,206,533$ 2,717,677$ 488,856$ 18%
Total loans 2,351,470 1,832,831 518,639 28%
Core deposits 1,586,305 1,360,047 226,258 17%
Total deposits 2,048,451 1,802,696 245,755 14%
Nonperforming loans/ Total loans 0.58% 1.01% (0.43%) (43%)
Classified assets/Total assets 1.68% 2.17% (0.49%) (23%)
Book value per share 20.96$ 20.00$ 0.96$ 5%
Tangible book value per share (1) 19.37$ 19.05$ 0.32$ 2%
At Change
Source: Company documents previously filed with the SEC
Balance Sheet Highlights
36
(1) See Non-GAAP Disclosure Appendix.
37
Improving Earnings Performance
$9,746
$8,256
$11,784
$12,228
$17,111
$0.49
$0.44
$0.61
$0.70
$0.94
$-
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
$0.90
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
Net Income - Adjusted Diluted EPS - Adjusted
Dollars in thousands
See Non-GAAP Disclosure Appendix
38
Share Price and Price to Tangible Book
$16.96
$15.77
$16.76
$18.50
$24.40 96.1%
89.2%
92.8% 97.1%
126.0%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
140.0%
$-
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
Share Price Price to Tangible Book
100.0
120.0
140.0
160.0
180.0
200.0
220.0
07/11/12 06/30/13 06/30/14 06/30/15 06/30/2016 06/30/2017
Total Return Performance
HomeTrust Bancshares, Inc. NASDAQ Bank NASDAQ Composite
Total Shareholder Return
39
40
Community Banks Headquartered in North Carolina
$33,612
$36,542
$32,170
$50,502
$20,047
25
25
24
22
12
0
5
10
15
20
25
30
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
Assets No. of Banks
Dollars in millions
Proven Growth Strategy
• Building on our Strong Organic Growth
• 7 new metro markets (including our new Greensboro LPO)
• Commercial lending
• Mortgage banking
• Core deposits
• Expanding into new Lines of Business
• Indirect auto
• Equipment Finance
• SBA
• Opportunistic Acquisition Strategy
• Experienced integration team and proven process
• 4 whole bank acquisitions since 2013
• 3 Commercial Loan Production Offices with “lift-outs” from other banks
• Purchased 8 Bank of America branches
41
42
Favorable Trading Price
From Compass Point Research and Trading, LLC
—Seeking Value, Top 10 Conversion Picks Near Book, July 10, 2017
Top Ten Conversion Picks, $1-10B in Assets
Ticker Name State
Market
Cap (M)
7/7/17
Price
Conversion
Type
Conversion IPO
Date
Shares
(M) Assets P/TBV
Consensus
2018 P/E(x) Yield
BHBK Blue Hills Bancorp, Inc MA 486 18.10 Standard 07/22/2014 26.858 2,497 126 28 1.1%
BNCL Beneficial Bancorp, Inc PA 1167 15.25 2nd-step 01/13/2015 76.505 5,862 136 29 1.6%
EBSB Meridian Bancorp, Inc MA 917 17.10 2nd-step 07/29/2014 53.631 4,756 155 20 0.9%
FBNK First Connecticut Bancorp, Inc CT 432 27.15 Standard 06/30/2011 15.924 2,904 163 18 1.8%
HONE HarborOne Bancorp, MHC* MA 643 20.01 MHC 06/29/2016 32.121 2,566 103 67 NA
HTBI HomeTrust Bancshares, Inc NC 467 24.65 Standard 07/11/2012 18.947 3,165 131 22 NA
KRNY Kearny Financial Corp. NJ 1331 15.25 2nd-step 05/19/2015 87.256 4,796 135 71 0.8%
PCSB PCSB Financial Corporation* NY 312 17.20 Standard 04/21/2017 18.165 1,407 115 64 NA
TBNK Territorial Bancorp Inc HI 306 31.14 Standard 07/13/2009 9.805 1,936 131 15 2.6%
WNEB Western New England Bancorp, Inc MA 326 10.60 2nd-step 01/04/2007 30.779 2,087 142 17 1.1%
*HONE P/TB assumes a 2nd-step, with market adjusted TB = $19.46, current MHC TB = $9.94. PCSB is pro forma with conversion proceeds
Investor Contacts
Dana Stonestreet
Chairman, President and 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
43
44
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, gain from the sale of
premises and equipment, and impairment charges for branch consolidation; and return on assets ("ROA") and
earnings per share ("EPS") excluding merger expenses, nonrecurring state tax expense, gain from the sale of
premises and equipment, 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.
45
Non-GAAP Disclosure Reconciliation
46
Non-GAAP Disclosure Reconciliation
Set forth below is a reconciliation to GAAP of tangible book value and tangible book value per share:
47
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:
48
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, gain on
sale of premises and equipment, and impairment charge for branch consolidation:
49
Non-GAAP Disclosure Reconciliation
Set forth below is a reconciliation to GAAP net income and EPS as adjusted to exclude merger-related expenses, nonrecurring state tax expense, gain on sale of
premises and equipment, loan loss provision (recovery), and impairment charge for branch consolidation: