The merger represents a strategic move for the Asheville-based HomeTrust to solidify its presence in the Southeast. By integrating Blue Ridge’s commercial loan portfolio and deposit franchise, the company aims to scale its operations while leveraging a proven model for performance improvement. Under the terms of the agreement, Blue Ridge shareholders will receive 0.086 shares of HomeTrust common stock for each share held, positioning HomeTrust stockholders to own roughly 65% of the combined entity.
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HomeTrust to Acquire Blue Ridge Bankshares in $448 Million Deal
HomeTrust Bancshares is expanding its footprint into Virginia through a definitive merger agreement to acquire Blue Ridge Bankshares. The all-stock transaction, valued at approximately $448.1 million, will create a combined regional institution with over $7 billion in total assets and a network spanning more than 60 locations.
C. Hunter Westbrook, CEO of HomeTrust, noted that the deal accelerates their growth strategy by tapping into local relationships in Virginia. Meanwhile, interim Blue Ridge CEO Harry Golliday emphasized that the transition provides a roadmap for long-term stability after the bank’s recent efforts to address legacy challenges. The transaction, which has received unanimous approval from both boards, is expected to close in the first quarter of 2027. Following the integration, HomeTrust anticipates significant earnings accretion by 2028, provided cost-saving targets are met.
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