Community banking

HomeTrust to Expand into Virginia

By Kristin Broughton June 05, 2014, 7:04 p.m. EDT 1 Min Read

M&A

Jefferson's Sale Shows Ups and Downs of Post-Crisis M&A

Jefferson Bancshares' efforts to sell itself were marked by several fits and starts over three years, highlighting the fickle nature of consolidation since the financial crisis.

By Paul Davis

April 23
M&A

HomeTrust in N.C. to Buy Jefferson in Tennessee for $51M

HomeTrust Bancshares (HTBI) in Asheville, N.C., has agreed to buy Jefferson Bancshares (JFBI) in Morristown, Tenn.

By Paul Davis

January 23

Why stop with the Carolinas and Tennessee?

That's apparently the attitude at HomeTrust Bancshares (HTBI), which is headed into Virginia for the first time after announcing plans Thursday to open a commercial loan production office in Roanoke.

The $1.6-billion asset company, based in Asheville, N.C., also said that it plans to open full-service banking offices in the Roanoke Valley region in the near future.

"The Roanoke Valley market is a logical expansion to our Piedmont-North Carolina market and provides the opportunity to serve additional businesses in the region," Dana Stonestreet, the chief executive of HomeTrust, said in a press release.

HomeTrust has grown rapidly in recent months. It now has 12 branches in Tennessee after completing its acquisition of Jefferson Bancshares (JFBI), a $499-million asset bank in Morristown, last month. It also announced plans in March to acquire the $126 million-asset Bank of Commerce in Charlotte, N.C.

Following the opening of the new branch on June 30, HomeTrust will operate 35 offices in North Carolina, South Carolina, Tennessee and Virginia.

Kristin Broughton

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