HomeTrust Bank

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HomeTrust Bancshares Inc. (NASDAQ: HTBI) is an Asheville, North Carolina-based bank holding company with 43 branches and $2.8 billion in assets in North and South Carolina after completing a pending acquisition. It is the parent of seven community banks—HomeTrust Bank, Tryon Federal Bank, Shelby Savings Bank, Home Savings Bank, Industrial Federal Bank, Cherryville Federal Bank and Rutherford County Bank. HomeTrust Bank started "around a pot-bellied stove" as Clyde Building and Loan in Clyde, North Carolina in 1926. Later, the name changed to Clyde Savings and Loan Association and then Clyde Savings Bank. Ed Broadwell joined the bank in 1965 at age 27, the youngest bank president in the state. The bank had $10 million in assets and five people worked there. In 1973, the bank bought a block in Asheville and built a new three-story headquarters. Dana Stonestreet, who took over after Broadwells retirement, said, "They hired more people to open that office than they had in the whole history of the bank." Clyde Savings Bank expanded into Buncombe County and Henderson County. In 2003, the name changed to HomeTrust Bank. By 2010 HomeTrust had two locations in Haywood County, five in Buncombe County and one in Henderson County in North Carolina. In 2013, Broadwell retired after 48 years. Tryon Federal Bank, started in 1935, had two offices in Polk County, and Shelby Savings Bank, started in 1905, had two offices in Cleveland County.