HomeTrust Announces the Sale of Knoxville Branches to Apex Bank

Core Viewpoint - HomeTrust Bancshares, Inc. has entered into a definitive purchase and assumption agreement with Apex Bank for the acquisition of two branches in Knoxville, Tennessee, which includes customer deposit accounts estimated at $42 million, while HomeTrust retains the loan accounts associated with these branches [1][3]. Group 1: Transaction Details - Apex Bank will acquire the physical locations, related fixed assets, and substantially all customer deposit accounts from HomeTrust [1]. - The transaction is expected to close in the second quarter of 2025, pending customary closing conditions and regulatory approvals [3]. Group 2: Strategic Rationale - HomeTrust's CEO stated that this transaction aligns with the company's strategic plan to tighten its geographic footprint, improve branch efficiencies, and allocate capital for long-term growth in core markets [2]. - Apex Bank's CEO expressed excitement about expanding their footprint in Knoxville, emphasizing the commitment to better serve customers and support the community [3]. Group 3: Company Background - As of December 31, 2024, HomeTrust Bancshares, Inc. had assets of $4.6 billion and operates over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia [5]. - Apex Bank, founded in 1931, has grown its total assets from $157 million in 2008 to over $1.35 billion in 2025, and has been recognized as one of the best-performing community banks in the nation [6].