HomeTrust Bank in Asheville, N.C., is set to raise up to $211.6 million as it converts to a stock-owned bank from a mutual thrift.
The $1.6 billion-asset company said late Monday that its members had approved a conversion plan at a special meeting in late June. It also said that it expects to complete the sale of roughly 21.2 million shares of common stock at $10 a share on Tuesday, completing its conversion.
HomeTrust said in December that it was converting to raise capital for organic growth and potential acquisitions in North Carolina.
After the conversion, the holding company will be HomeTrust Bancshares. The company has 20 branches in central and western North Carolina.
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