HomeTrust Bancshares, Inc. announced that HomeTrust has entered into an agreement to acquire United Financial of North Carolina, Inc. (“United Financial”), a municipal lease finance company headquartered in Fletcher, North Carolina.

United Financial was founded in 1990 by current President/Owner William “Bill” Ammons.  It 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.  United Financial underwrites and originates these municipal leases and then sells them to HomeTrust or other financial institutions.

Effective January 1, 2017, United Financial will conduct business under the name United Financial, a division of HomeTrust Bank. All of United Financial’s current employees will join HomeTrust including Mr. Ammons who will become Director of Municipal Leasing at the Bank.  

“I am pleased that we can continue to build on our 25-year relationship with United Financial,” said Dana L. Stonestreet, President and CEO of HomeTrust. “By combining with a company that provides such excellent customer service within a niche market, we have a unique opportunity to continue United Financial’s legacy and expand our municipal lease finance product line for many years to come.”

“We are excited to become a part of the HomeTrust Bank family,” said Bill Ammons, President/Owner of United Financial. “We believe this is a tremendous opportunity to combine the financial strength of HomeTrust with United Financial’s long-term success of building relationships and providing unique and personalized financial solutions to our municipal customers.  We look forward to providing enhanced municipal finance products and services to our existing and expanding customer base.”