Spotlight On: Kristin Powell, Executive Vice President, Consumer & Business Banking Group Executive, HomeTrust Bank
August 2024 — In an interview with Invest:, Kristin Powell, executive vice president and consumer and business banking group executive for HomeTrust Bank, discussed the bank’s recent successes, the importance of relationship banking, and the unique opportunities presented by Charlotte’s growth and economic landscape.
What has been HomeTrust Bank’s overall contribution in the Charlotte region over the last 12 to 18 months?
We moved to our SouthPark office in 2021 and opened our Cornelius office in 2022. We have representation from all lines of business, including bank branches, business banking, commercial, SBA, financial advisors, mortgage, equipment finance, and treasury management. We are here to support the Charlotte community. Our Director of Community Development and our Community Development Loan Officer are both based out of Charlotte, though they cover and support our entire footprint. We support the local Charlotte Habitat for Humanity as part of our Heart of HTB company volunteer program, with our employees assisting in their ReStore. We are proud to be one of the bank sponsors for the SouthPark After 5 concert series, where our employees and their families actively participate. We also support various other community events in and around Charlotte.
How would you define the role of relationship banking in the current financial landscape, and how has this approach benefited the bank?
By serving customers within our community and developing meaningful relationships, we are able to meet their financial needs through products and services that support their success. HTB has been focused on building relationships long before the changes in the current financial landscape, especially with a focus on deposit growth. This approach has allowed us to be successful in today’s environment.
What are some of the unique opportunities Charlotte presents for community banking?
Charlotte has a wide cross-section of businesses, from small businesses to larger corporations. HTB is well-positioned to meet their needs by offering an array of products and services, from basic checking accounts to mature treasury management solutions. There are not many banks our size in the Charlotte market anymore, but we are ideally suited to serve small businesses up to entry-level middle market companies.
How is the economic landscape impacting your operations, and how are you helping clients navigate through the uncertainty?
Banking is certainly challenging today, with the external environment being difficult to monitor. We strive to be transparent both internally and externally. A great example of our transparency is when SVB failed; we communicated with our customers before the doors opened on Monday morning. This put our customers at ease and provided them with resources to reach out for further information and guidance.
We also focus on our culture and employee engagement, which has led to significant recognition, such as being named Newsweek’s Most Loved Workplace and North Carolina’s Best Place to Work. We’ve also been recognized on the S&P Global Top 50 Banks in the $3-$10 billion range and Forbes Top 100 Banks, regardless of size. These achievements reflect the strong culture we’ve built to support the communities we serve.
Lastly, we have experienced bankers who have navigated economic downturns and upswings previously and are well-positioned to be consultative partners to our clients, guiding them and working with them to provide products and services that fit their needs.
What are some characteristics that set HomeTrust Bank apart from competitors in the market?
Our secret sauce at HomeTrust Bank is our employees. We have an engaged workforce that is dedicated to our company’s behavior-based fundamentals, of which we have 33. These aren’t just words; they define how we run our company. Every week, we focus on a different fundamental, and we’re currently on our fifth round. In meetings, we start by discussing that week’s fundamental. For example, one of our fundamentals is “Look ahead and anticipate.” During the week, we focus on this, and we integrate it into our conversations, whether with colleagues, investors, or customers.
From the CEO to the tellers, everyone knows the fundamental of the week. We believe focusing on our culture and engaged employees leads to a high-performing organization, which will allow us to navigate challenges and sustain our success.
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How is the bank leveraging technology and innovation?
Technology is an ever-changing landscape, and we prioritize technology that is beneficial and meaningful to our customers. We try very hard not to be distracted by the shiny new ball. Our approach involves constantly assessing new technologies to enhance our efficiency and improve the quality of service for our customers.
What products or services are the main drivers of growth, and what does that say about the current market?
For a bank our size, we focus on meeting the needs of our customers. We have evolved over more than a decade into a strong commercial bank and have the ability to serve all the needs of our customers, from large commercial deals to business banking needs, SBA lending, mortgage, and treasury management services. Our consultative approach starts with understanding our customers’ needs, which allows us to focus on the products and services that will help them succeed.
How has the bank’s community involvement impacted its relationship with local businesses and individuals?
In Charlotte, we are proud to have our director of community development and our community development loan officer based out of our SouthPark office. This gives us a strong presence in the regional community. Across our five-state footprint, our volunteer organization, Heart of HTB, partners with various local organizations. We engage in community service activities several times a year, strengthening our relationships with local businesses and individuals by actively supporting their needs.
Are there any regulatory or compliance changes you are keeping an eye on that might impact your operations in the future?
The regulatory landscape is always evolving in banking. We keep a close watch on various changes, including CRA modernization, SBA updates, adjustments in mortgage and lending regulations, and the new small business 1071 rule. While no single regulation concerns us more than another, we prioritize staying informed and discussing these changes at the executive level to ensure compliance and readiness.
What is your outlook for the bank over the next couple of years, and what are your top priorities in that time frame?
One of our fundamentals is “Look ahead and anticipate,” which guides our strategic planning. Our focus is on deposit growth and deepening relationships across the communities we serve. Although there’s uncertainty about how the next few years will unfold, particularly with interest rate fluctuations, we aim to remain a top-performing bank in our peer group. By concentrating on our culture, employee engagement, and customer needs, we believe we can navigate challenges and sustain our success.
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