Business
HOME BANCORP, INC. COMPLETES ACQUISITION OF FRIENDSWOOD CAPITAL CORPORATION
LAFAYETTE, La., March 28, 2022 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: "HBCP") ("Home Bancorp"), the holding company of the 113-year-old Home Bank, N.A.
About this update from Home Bancorp, Inc.
[{"type":"text","content":"LAFAYETTE, La., March 28, 2022 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: \"HBCP\") (\"Home Bancorp\"), the holding company of the 113-year-old Home Bank, N.A. (\"Home Bank\"), announced the completion of its acquisition of Friendswood Capital Corporation (\"Friendswood\"), the holding company of Texan Bank, N.A. (\"Texan Bank\"). The combined company has total assets of approximately $3.2 billion, $2.2 billion in loans and $2.7 billion in deposits.\n\n \n \n \n \n \n \n\n \n\"Since announcing our expansion into Texas in December 2021, we have worked diligently with Texan Bank's employees to complete this acquisition,\" said John W. Bordelon, Chairman, President and Chief Executive Officer of Home Bancorp. \"We look forward to further developing the Houston region together and building strong relationships with businesses and consumers.\" \n\"On behalf of our Board of Directors, I'd like to thank our employees for their incredible commitment to the company over the years,\" said Kenny Koncaba, Chief Executive Officer of Friendswood. \"We are pleased to have joined forces with the dedicated team at Home Bank. The merger is a win-win for our shareholders and customers. I know we will do a great job together building upon and enhancing customer relationships Texan Bank has developed over the years.\"\nHome Bank plans to convert the branch and operating systems of the former Texan Bank locations to those of Home Bank in June 2022. Home Bancorp anticipates the transaction will be over 20% accretive to earnings per share once cost savings are fully realized and accretive to tangible book value per share within 3.5 years of closing. Following the Merger, Home Bank's capital position remains strong with leverage and total risk-based capital ratios of approximately 8.5% and 13.1%, respectively. \nShareholders of Friendswood Capital Corporation will receive $15.34 per share in cash, resulting in an aggregate deal value of $66.5 million. \nForward Looking Statements\nThis news release contains certain forward‑looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward‑looking statements do not relate strictly to historical or current facts. Forward-looking statements reflect management's current views and estimates of future economic circumstances, indust...