HomeTrust Bank to Close Branches in Restructuring Move – Banking Exchange

North Carolina-based HomeTrust Bank has announced plans to close nine branches as part of a wider business restructuring plan.

The bank will also repay loans and bring its small business loan function in-house.

HomeTrust said in an announcement this week that the closures would affect locations in North Carolina, Tennessee, and Virgina, totalling 22% of its branch operations. It expected to incur a $1.5 million cost for employee redundancies, disabling an operating lease, and writing down facilities costs, among other costs directly related to the closures.

Affected customers would still be able to access its digital offering and remaining network of 32 branches.

These strategic initiatives, along with the continued maturity of our dive…