HomeTrust Plans Sale of Knoxville Branches to Apex Bank

HomeTrust Bancshares has announced the sale of its two branches in Knoxville, Tennessee, to Apex Bank as part of a strategic plan to streamline its operations and focus on core markets. The deal includes the transfer of related fixed assets and approximately $42 million in customer deposits, while HomeTrust will retain the associated loan accounts. The transaction is expected to close in the second quarter of 2025, pending regulatory approval. HomeTrust's CEO Hunter Westbrook emphasized that this move aims to enhance branch efficiencies and allocate capital for long-term growth. Apex Bank, which will expand its Knoxville presence through this acquisition, expressed commitment to better serving the community and exploring further growth opportunities. Financial advisement for the transaction was provided by Piper Sandler & Co., with legal counsel from Silver, Freedman Taff & Tiernan for HomeTrust and Baker Donelson for Apex.