HomeTrust Bancshares agreed to acquire Richmond, Virginia-based Blue Ridge Bankshares in an all-stock transaction valued at about $448.1m, the companies said on 17 August.
Why HomeTrust Bancshares is buying Blue Ridge Bankshares
HomeTrust said the deal expands it into attractive Virginia markets, adding a strong deposit franchise and growing commercial loan book, and makes it one of three $5bn-$10bn major-exchange-listed banks in the region.
Deal terms and financing
Blue Ridge holders receive 0.086 HomeTrust shares per share, or $4.28 based on HomeTrust's five-day VWAP to 14 August. HomeTrust expects about 30% EPS accretion once cost savings are realised in 2028 and 8.3% tangible book dilution, earned back in about 3.25 years.
Regulatory approvals and timing
Closing is expected early in the first quarter of 2027, subject to regulatory and both companies' shareholder approvals.
Market context
HomeTrust had about $4.4bn of assets and 30 locations before the deal. Two Blue Ridge directors will join the HomeTrust board.
