Business
HOME BANCORP, INC. ANNOUNCES EXPANSION INTO HOUSTON AND AGREEMENT TO ACQUIRE FRIENDSWOOD CAPITAL CORPORATION
LAFAYETTE, La. and HOUSTON, Dec. 15, 2021 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: "HBCP") ("Home Bancorp"), the holding company of the 113-year-old Home
About this update from Home Bancorp, Inc.
[{"type":"text","content":"LAFAYETTE, La. and HOUSTON, Dec. 15, 2021 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: \"HBCP\") (\"Home Bancorp\"), the holding company of the 113-year-old Home Bank, N.A. (\"Home Bank\"), and Friendswood Capital Corporation (\"Friendswood\"), the holding company of Texan Bank, N.A. (\"Texan Bank\"), jointly announced today the signing of a definitive Agreement and Plan of Merger (\"Merger Agreement\") under which Home Bancorp will acquire Friendswood in an all-cash transaction. Under the terms of the Merger Agreement, shareholders of Friendswood (other than holders of Dissenting Shares, as such term is defined in the Merger Agreement) will receive $15.34 per share in cash, or $66.6 million in the aggregate, upon consummation of the transaction. The Merger Agreement also provides that Texan Bank will be merged with and into Home Bank, with Home Bank as the survivor.\n\n \n \n \n \n \n \n\n \n\"This Merger provides Home Bancorp the opportunity to expand our geographic footprint into Texas,\" said John W. Bordelon, Chairman, President and Chief Executive Officer of Home Bancorp. \"Texan Bank and Home Bank share the same values of serving the community and providing excellent customer service to their clients. We look forward to further developing the Houston region together and building strong relationships with consumers and businesses.\" \nFriendswood operates five (5) branch locations in the Houston metropolitan area. As of September 30, 2021, Friendswood had assets of $445.3 million, $342.8 million in loans and $376.3 million in deposits. Based on September 30, 2021 historical data, the combined company will have assets of approximately $3.2 billion, $2.2 billion in loans and $2.7 billion in deposits.\n\"Our company has always focused on serving our customers and communities with a professional team of bankers,\" said Kenny Koncaba, CEO of Friendswood. \"Home Bank shares the same focus. With a broader range of products and services, we believe the combined companies will serve and achieve great success as one of the strongest community banks in the area.\"\nMr. Koncaba and Ms. Koncaba will both remain active in the combined company serving customers as the Houston Market President and Houston Director of Business Development Officer role, respectively. \nThe Merger Agreement was unanimously approved by the boards of directors ...