HomeTrust Bancshares in Asheville, N.C., has agreed to pay an additional $484,000 to complete its July 2013 acquisition of BankGreenville Financial.
The $2.8 billion-asset HomeTrust will pay $484,000 in cash, or 41 cents per share, on Tuesday to former shareholders of BankGreenville, according to a news release.
HomeTrust bought the $110 million-asset BankGreenville in Greenville, S.C., for $7.8 million in cash. The original deal agreement required HomeTrust to increase the price to as much as $8.7 million, based on the performance of a pool of BankGreenville's loans over a 24-month period. As a result of the supplemental payment, the final price for BankGreenville will be about $8.3 million.