HomeTrust and Blue Ridge Agree $448.1M Merger
HomeTrust Bancshares and Blue Ridge Bankshares have agreed to a $448.1 million all-stock merger that will expand HomeTrust’s presence across the US Southeast, creating a community banking group with more than $7 billion in assets and over 60 branches.
Merger Expected in Early 2027
The definitive agreement, announced this week, will see Blue Ridge shareholders receive 0.086 shares of HomeTrust common stock for each Blue Ridge share they own.
The two banks expect the transaction to close early in the first quarter of 2027, subject to approval from shareholders and regulators.
Following completion, HomeTrust shareholders are expected to hold about 65% of the combined company, while Blue Ridge shareholders will own approximately 35%.
Deal More Than Doubles HomeTrust’s Regional Footprint
The acquisition will significantly expand HomeTrust’s existing network. The North Carolina-based bank currently operates 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia and Georgia.
HomeTrust reported total assets of $4.4 billion in June 2026. Following the merger, the combined institution will have more than $7 billion in assets and over 60 locations across the Southeast.
The companies said only two other exchange-traded regional banks currently operate at a comparable scale.
Leadership Structure Yet to Be Detailed
HomeTrust has been led by President and CEO C. Hunter Westbrook since September 2021. At Blue Ridge, Harry Golliday took over as interim CEO from Billy Beale in March 2026.
The merger announcement did not specify how executive leadership will be structured after the transaction. It said only that two Blue Ridge directors will join the boards of HomeTrust and HomeTrust Bank.
Similar Banking Businesses
The two institutions have overlapping business models, with both offering business banking and wealth management services.
HomeTrust, which has operated since 1926, focuses on business banking and mortgage lending while also maintaining retail and wealth management operations. The bank has used Fiserv’s Signature Bank core banking system since 2018.
Blue Ridge, founded in 1893, also provides business and wealth management services, alongside a more developed retail banking operation.
The bank changed its name from The Page Valley Bank to Blue Ridge Bank in 2011. Its business strategy shifted significantly around 2023, when it began reducing its Banking-as-a-Service activities amid increased regulatory exposure.