HomeTrust Bancshares, Inc., the holding company of HomeTrust Bank announced its plans to further improve profitability by closing nine bank branches and restructuring its balance sheet with the prepayment of its remaining long-term borrowings. In addition, beginning July 1, 2021, the Bank will bring its back-office Small Business Administration (“SBA”) loan servicing process in-house, which is expected to provide additional servicing fee and gain on sale income. The Bank plans to close nine branches in North Carolina, Tennessee, and Virginia, which represents 22% of its total branch footprint and will reduce operating expenses and provide additional company-wide efficiencies. As a result of these closures, the Company expects to record a total pre-tax charge of approximately $1.5 million for costs associated with impacted employees, impairment of an operating lease asset, the write-down of branch facilities, and other net costs, during the fourth quarter of fiscal year 2021. The branch closures are part of the Company’s ongoing strategic initiatives to respond to changing customer preferences and to improve the financial performance of the Company. The Bank expects to service customers of the closed branches through its remaining network of 32 branches and digital banking services.