Blue Ridge Bankshares Inc

North Carolina's HomeTrust has agreed to buy Virginia-based Blue Ridge Bankshares in an all-share deal worth about $448.1 million. The transaction would extend HomeTrust's presence into Virginia and form a commercial bank with more than $7 billion in assets and over 60 branches and offices across the Southeast. Under the agreed terms, Blue Ridge investors will receive 0.086 HomeTrust common shares for each share held, with existing HomeTrust investors expected to hold about 65% of the combined group and Blue Ridge investors roughly 35%. HomeTrust said the acquisition is projected to add about 30% to earnings per share, assuming planned cost reductions are fully in place from 2028, while tangible book value per share is estimated to be diluted by about 8.3% at closing with an earn-back period of around 3.25 years. Both boards have approved the transaction unanimously, and the deal is expected to complete in the early part of the first quarter of 2027, subject to regulatory clearance, shareholder approvals, and other standard closing conditions.