C. Hunter Westbrook Assumes Role of Chief Executive Officer of HomeTrust Bancshares, Inc. in September 2022
24 May 2022 - 10:00PM
The Board of Directors of HomeTrust Bancshares, Inc. (NASDAQ: HTBI)
(“Company”), today announced that effective September 1, 2022, C.
Hunter Westbrook will succeed Dana L. Stonestreet as Chief
Executive Officer of the Company and continue his leadership of
HomeTrust Bank (“Bank” or “HomeTrust”) as President and Chief
Executive Officer. Stonestreet, who has been with HomeTrust for 33
years and as Chairman and CEO since 2013, will become the Executive
Chairman of the Company and Bank. Mr. Westbrook’s promotion is the
culmination of an ongoing succession plan that Mr. Stonestreet has
coordinated with the Board of Directors in preparation for his
future retirement.
“Hunter’s commercial banking expertise, vision
for strategic growth and proactive leadership have been integral in
the transformation of HomeTrust into a leading regional commercial
bank,” said Mr. Stonestreet. “During his tenure, HomeTrust has
grown from $1.5 billion to $3.5 billion in assets, from three lines
of business to ten and has expanded geographically from western
North Carolina into Tennessee, Virginia, and South Carolina while
establishing a strong commercial presence in key high growth
metropolitan markets across our four states.
“It has been a pleasure to work with Hunter the
past ten years,” said Stonestreet, “and I am grateful to pass the
torch to such a qualified and proven leader. The future is bright
for HomeTrust employees, customers, communities, and shareholders
under Hunter’s leadership.”
Mr. Westbrook’s tenure with HomeTrust began in
June 2012 as Senior Vice President and Chief Banking Officer of the
Company and the Bank. Since 2012, Mr. Westbrook has been promoted
to Senior Executive Vice President and Chief Operating Officer in
2018, President and Chief Operating Officer of the Bank in 2020,
and President, Chief Executive Officer, and Director of the Bank in
September 2021. Now as CEO of the Company, he will continue to
effectively position HomeTrust for the dynamic and evolving banking
environment.
“I am honored by the confidence that Dana and
the Board have placed in me, and I am enthusiastic about leading
the Bank’s continued growth and success as a full-service
commercial bank,” said Mr. Westbrook. “HomeTrust remains focused on
increasing shareholder value by achieving high performing financial
results as a growing regional community bank. “Over the past year,
we have demonstrated results through the implementation of our
profitability improvement and balance sheet restructuring plan. At
the same time, we have streamlined and enhanced processes for an
improved employee and customer experience. I look forward to a
bright future for HomeTrust and our shareholders as I work
alongside our dedicated employees and Board to serve our customers
and communities.”
Mr. Westbrook is a 30-year banking veteran who
served as President and CEO of two community banks before joining
HomeTrust. Mr. Westbrook also worked for nearly 20 years in various
senior level positions with TCF Bank and its parent, TCF Financial
Corporation. He earned his Master of Business Administration degree
from the University of Minnesota’s Carlson School of Management and
holds a Bachelor of Science in Accounting and Business from West
Virginia University.
About HomeTrust Bancshares,
Inc.HomeTrust Bancshares, Inc. is the holding company for
HomeTrust Bank. As of March 31, 2022, the Company had assets of
$3.5 billion. The Bank, founded in 1926, is a North Carolina state
chartered, community-focused financial institution committed to
providing value added relationship banking through over 30
locations as well as online/mobile channels. Locations include:
North Carolina (including the Asheville metropolitan area, the
"Piedmont" region, Charlotte, and Raleigh/Cary), Upstate South
Carolina (Greenville), East Tennessee (including Kingsport/Johnson
City, Knoxville, and Morristown) and Southwest Virginia (including
the Roanoke Valley).
Forward-Looking StatementsThis
press release 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 the Company's control. Actual results may differ, possibly
materially, from those currently expected or projected in these
forward-looking statements. Factors that could cause the Company's
actual results to differ materially from those described in the
forward-looking statements include: the effect of the COVID-19
pandemic, including on the Company's credit quality and business
operations, as well as its impact on general economic and financial
market conditions and other uncertainties resulting from the
COVID-19 pandemic, such as the extent and duration of the impact on
public health, the U.S. and global economies, and consumer and
corporate customers, including economic activity, employment levels
and market liquidity; 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
the Company's latest Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q and other documents filed with or furnished to
the Securities and Exchange Commission (the “SEC”), which are
available on the Company’s website at www.htb.com and on the SEC's
website at www.sec.gov. These risks could cause the Company's
actual results for fiscal 2022 and beyond to differ materially from
those expressed in any forward-looking statements by, or on behalf
of, the Company and could negatively affect its operating and stock
performance. Any of the forward-looking statements that the Company
makes in this press release or the documents it files with or
furnishes to the SEC 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 they might make, because of the
factors described above or because of other factors that they
cannot foresee. The Company does not undertake, and specifically
disclaims, 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.
www.htb.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d8a7039c-ddb2-428c-a7ad-8d27727e967a
Contact:
Dana L. Stonestreet
Chairman & Chief Executive Officer
828.365.7084
C. Hunter Westbrook
President & Chief Executive Officer
828.365.7084
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