HomeTrust Bancshares to Buy Blue Ridge Bankshares in $448.1 Million All-Stock Deal
The acquisition expands HomeTrust's footprint into Virginia markets to create a regional commercial bank with over $7 billion in assets.
HomeTrust Bancshares, Inc. (HTB) agreed to acquire Blue Ridge Bankshares, Inc. (BRBS) in an all-stock transaction valued at approximately $448.1 million.
Under the terms of the agreement, Blue Ridge shareholders will receive 0.086 shares of HomeTrust common stock for each share of Blue Ridge common stock. Based on a five-day volume-weighted average price of approximately $49.82 per share as of August 14, 2026, the consideration equals $4.28 per share. Holders of roughly 25% of Blue Ridge's outstanding warrants have already agreed to exchange them for HomeTrust common stock, while remaining warrant holders may exchange them or roll them into new HomeTrust warrants.
The acquisition expands HomeTrust's footprint into desirable Virginia markets, creating a commercial bank with more than 60 locations across the Southeast and total assets exceeding $7 billion.
“This represents a compelling opportunity to further expand our presence in the attractive Virginia market and accelerate our growth strategy,” said C. Hunter Westbrook, President and Chief Executive Officer of HomeTrust.
Blue Ridge provides retail and commercial banking, retail mortgage lending, and investment and wealth management services. Blue Ridge brings a growing commercial loan portfolio, a strong deposit franchise, and deep local relationships that complement HomeTrust's existing capabilities.
The transaction is expected to close early in the first quarter of 2027. Upon completion, HomeTrust stockholders are expected to own approximately 65% of the combined company, with Blue Ridge shareholders owning the remaining 35%. Two Blue Ridge directors will join the boards of directors of HomeTrust and HomeTrust Bank.
HomeTrust expects the deal to be accretive to earnings per share by approximately 30%, assuming anticipated cost savings are fully realized starting in 2028. The dilution to tangible book value per share is estimated at approximately 8.3% at closing, with an earn-back period of about 3.25 years. The merger remains subject to regulatory approval and approval by shareholders of both companies.