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BRIEF-Hometrust Bancshares And TriSummit Bancorp announce in-market combination

Sept 21 Hometrust Bancshares Inc

* 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: Further company coverage:

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