The holding company for HomeTrust Bank reported a 21.8 percent increase in net income for the fourth quarter

HomeTrust Bancshares Inc. filed a Form 8-K with the Securities and Exchange Commission on Jan. 26 that stated the company’s preliminary net income of $3.0 million for the quarter ended Dec. 31, 2016, a $534,000 increase over net income of $2.5 million for the same quarter of 2015.

The company’s diluted earnings per share increased to 17 cents for the three months ended Dec. 31, compared to 14 cents per share for the same period in fiscal 2015.

Organic net loan growth, excluding loans acquired through purchases of home equity lines of credit, was $69.6 million or 16.3 percent annualized for the quarter ended Dec. 31. Excluding the one-to-four family residential loan portfolio, the second quarter loan growth was $75.1 million or 27.3 percent annualized

“Our strong organic loan growth was led by almost $150 million in commercial loan originations during the quarter, a 57% increase over the same quarter last year,” said CEO Dana Stonestreet in a statement.

“In addition, we are excited to expand our franchise in East Tennessee through the acquisition of TriSummit Bancorp Inc. which was completed on Jan. 1, 2017. We expect this in-market acquisition to contribute to our organic loan growth and, along with cost savings, will further drive growth in our earnings and shareholder value,” added Stonestreet.

TriSummit Bank is headquartered in Kingsport, Tennessee, and operates six other banking facilities. Its holding company, TriSummit Bancorp Inc., has over $353 million in consolidated assets. The combined company is expected to have assets in excess of $3.0 billion.

HomeTrust Bancshares closed Friday at $25.20, down 10 cents.