HomeTrust Bancshares in Asheville, N.C., has agreed to sell two branches in Knoxville, Tenn., to Apex Bank in Camden, Tenn.
The $4.6 billion-asset HomeTrust said in a press release that the branches have about $42 million in deposits. HomeTrust plans to keep all the loans tied to the locations. The deal is expected to close in the second quarter.
“This transaction aligns with our strategic plan to tighten our geographic footprint, improve our branch efficiencies, and allocate our capital to support our long-term growth in other core markets,” Hunter Westbrook, HomeTrust’s president and CEO, said in the release.
Piper Sandler and Silver, Freedman Taff & Tiernan advised HomeTrust. Baker Donelson advised the $1.4 billion-asset Apex.