The merger will create a Southeast bank with over $7bn in assets and 60 branches, expected to close in early 2027.
HomeTrust Bancshares will purchase Blue Ridge Bankshares in an all-stock transaction valued at approximately $448.1m. The deal aims to expand HomeTrust’s footprint into Virginia, combining operations to form a commercial bank with more than $7bn in assets and over 60 branches across the Southeast.
Under the terms, Blue Ridge shareholders will receive 0.086 HomeTrust shares for each share held. Existing HomeTrust investors are projected to own about 65% of the merged entity, while Blue Ridge shareholders will hold roughly 35%. The companies anticipate the transaction will close in the first quarter of 2027.
HomeTrust expects the acquisition to boost earnings per share by around 30% by 2028, assuming planned cost reductions are realized. However, tangible book value per share is estimated to dilute by approximately 8.3% at closing.