ASHEVILLE, N.C. - HomeTrust Bancshares, Inc. (NASDAQ: HTBI), the parent company of HomeTrust Bank, today announced the appointment of Charles "Chuck" Sivley as Chief Technology Officer (CTO), effective immediately. Sivley will be responsible for guiding the bank's technological direction and strategy, focusing on the reliability, performance, and scalability of its technology infrastructure.
In his new role, Sivley will join the Executive Operating Committee and report to C. Hunter Westbrook, President & CEO of HomeTrust Bank. He succeeds Marty T. Caywood, the outgoing Chief Information Officer, who will depart later this year after a 29-year tenure with the company.
With over three decades of experience in the technology sector, Sivley has a history of enhancing operations and driving technological innovation within the banking industry. His career has spanned various roles and responsibilities in large organizations and banks of varying sizes and complexities.
Westbrook commented on the appointment, stating, "As the advancement of banking technology continues, HomeTrust will remain focused on enhancing and continuously strengthening our current operating. Chuck's extensive experience in banking technology and proven track record of driving technological innovation make him an invaluable addition to our leadership team."
Sivley, an alumnus of the University of Alabama at Birmingham and holder of a Certificate of Digital Banking from the Graduate School of Banking at the University of Wisconsin – Madison, has previously held CIO positions at American National Bank, Highlands Union Bank, and First State Bank of the Southeast. Additionally, he has worked at Southern Company (NYSE:SO) Services and served in the US Army Reserves.
HomeTrust Bancshares, Inc., founded in 1926, is a community-focused financial institution with assets totaling $4.7 billion as of March 31, 2024. The bank operates over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia, offering a range of relationship banking services through its branches and digital channels.
This leadership change comes as part of HomeTrust Bancshares' ongoing efforts to stay competitive in the evolving technological landscape of the banking industry. The information in this article is based on a press release statement from HomeTrust Bancshares, Inc.
InvestingPro Insights
As HomeTrust Bancshares, Inc. (NASDAQ: HTBI) welcomes its new Chief Technology Officer, the company's financial health and market performance continue to be of interest to investors and stakeholders. With a focus on technological advancement and a robust banking infrastructure, HomeTrust is poised to leverage its financial position to drive future growth.
InvestingPro data highlights the company's promising financial metrics as of the first quarter of 2024. HomeTrust Bancshares boasts a solid market capitalization of $472.28 million, which underscores its significant presence in the community banking sector. Additionally, the company's attractive price-to-earnings (P/E) ratio stands at 7.2, indicating that its stock could be undervalued relative to its earnings potential. This is further supported by a low price-to-book (P/B) ratio of 0.92, suggesting that the stock might be trading below its net asset value.
Investors may also find the company's dividend track record appealing, as HomeTrust has raised its dividend for six consecutive years, showcasing a commitment to returning value to shareholders. The dividend yield as of mid-2024 is 1.6%, paired with a notable dividend growth of 10.0% over the last twelve months. These figures reflect a stable and growing income stream for investors.
Two InvestingPro Tips for HomeTrust Bancshares that stand out are the company's low P/E ratio relative to near-term earnings growth and its profitability over the last twelve months. These indicators suggest that HomeTrust is not only managing to grow earnings but is also doing so at a rate that could make the current stock price attractive. Moreover, analysts predict the company will maintain profitability this year, which could further bolster investor confidence in the bank's strategic direction under the leadership of the newly appointed CTO, Chuck Sivley.
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