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HomeTrust Bancshares to buy municipal leasing company

Asheville, N.C.-based HomeTrust Bancshares Inc. agreed to buy Fletcher, N.C.-based United Financial of North Carolina Inc., a municipal lease finance company that provides financing for fire departments and municipalities across the Carolinas and other southeastern states.

According to a press release, the municipal leasing company will be known as United Financial, a division of HomeTrust Bank, effective Jan. 1, 2017. Bill Ammons, president and owner of United Financial, will join HomeTrust as director of municipal leasing of HomeTrust Bank.

No United Financial employee will be laid off due to the merger, the press release added.