M&A Deal Summary

HomeTrust Bank Acquires TriSummit Bank

On January 3, 2017, HomeTrust Bank acquired financial services company TriSummit Bank for 36M USD

Acquisition Highlights
  • This is HomeTrust Bank’s 4th transaction in the Financial Services sector.
  • This is HomeTrust Bank’s 2nd largest (disclosed) transaction.
  • This is HomeTrust Bank’s 4th transaction in the United States.
  • This is HomeTrust Bank’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2017-01-03
Target TriSummit Bank
Sector Financial Services
Buyer(s) HomeTrust Bank
Deal Type Add-on Acquisition
Deal Value 36M USD
Advisor(s) Banks Street Partners (Financial)
Butler Snow (Legal)

Target

TriSummit Bank

Kingsport, Tennessee, United States
TriSummit Bank is a community bank that serves East Tennessee and Southwest Virginia with strong, client and community focused leadership, state-of-the-art financial centers and a full complement of technology based services. TriSummit Bank is headquartered in Kingsport, Tennessee.

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Buyer(S) 1

Buyer

HomeTrust Bank

Asheville, North Carolina, United States
Category Company
Founded 1926
Sector Financial Services
Employees541
Revenue 186M USD (2023)
DESCRIPTION
HomeTrust Bank's headquarters in Asheville, North Carolina.
HomeTrust Bank's headquarters in Asheville, North Carolina.

HomeTrust Bank is a community-focused bank that provides a range of financial services to individuals and businesses in the Southeastern United States. HomeTrust Bank operates over 40 branches in North Carolina, South Carolina, Tennessee, and Virginia, and offers a variety of deposit accounts, loans, and other banking services. HomeTrust was founded in 1926 and is headquartered in Asheville, North Carolina.

DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Tennessee) 2 of 2
Country (United States) 4 of 4
Year (2017) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 United Financial of North Carolina

North Carolina, United States

United Financial of North Carolina, Inc. is specializes in providing financing for fire departments and municipalities for the purchase of fire trucks and related equipment as well as the construction of fire stations and other municipal buildings across the Carolinas and other southeastern states.

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