SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 10, 2020
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
|(Former name or former address, if changed since last report)|
Securities Registered Pursuant to Section 12(b) of the Act:
|Title of Each Class||Trading Symbol||Name of Each Exchange on Which Registered|
|Common Stock, par value $0.01 per share||HTBI||The NASDAQ Stock Market LLC|
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||[ ]|
|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 8.01 Other Events.
On March 10, 2020, the Company issued a press release announcing that it will not pursue the sale of the remaining $85.6 million of one-to-four family loans previously reported as held for sale as of December 31, 2019, due to recent economic conditions and the current interest rate environment. These loans with a 3.70% weighted average rate will be moved back to loans held for investment from loans held for sale prior to the quarter ended March 31, 2020. Previously as part of a balance sheet restructuring, the Company announced the sale of $154.9 million of one-to-four family loans which generated an after-tax gain of $958,000 for the quarter ended December 31, 2019. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
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: March 10, 2020|| ||By:||/s/ Tony J. VunCannon|
|Tony J. VunCannon|
|Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer|