Brief: Hometrust Bancshares And TriSummit Bancorp announce in-market combination

HomeTrust Bancshares

21/09/2016 13:15

Sept 21 (Reuters) - Hometrust Bancshares Inc  HTBI.O   
    * Upon completion of transaction, combined company is 
expected to have assets in excess of $3.0 billion. 
    * Merger agreement has been unanimously approved by boards 
of directors of both companies 
    * Deal for about $31.8 million 
    * TriSummit's $7.1 million tarp preferred stock will be 
redeemed in connection with closing of merger 
    * TriSummit shareholders will receive a total of $8.80 per 
share in merger consideration 
    * Merger consideration consisting of $4.40 in cash plus 
$4.40 in Hometrust common stock. 
    * Merger agreement has been unanimously approved by boards 
of directors of both companies 
    * Excluding certain one-time charges, deal to be accretive 
to earnings per share by about 8 percent in fiscal 2017 and 30 
percent in 2018 
    * Tangible book value per share is expected to be diluted by 
about 4 percent at deal closing, with projected earnback period 
of 3.5 years 
 
Source text for Eikon:  ID:nGNXNEHCVa  
Further company coverage:  HTBI.O  
 
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