Brief: Home Bancorp Announces Agreement To Acquire Friendswood Capital Corporation

Home Bancorp

15/12/2021 22:51

Dec 15 (Reuters) - Home Bancorp Inc  HBCP.O :
    * HOME BANCORP, INC. ANNOUNCES EXPANSION INTO HOUSTON AND
AGREEMENT TO ACQUIRE FRIENDSWOOD CAPITAL CORPORATION
    * HOME BANCORP INC - WILL ACQUIRE FRIENDSWOOD IN AN ALL-CASH
TRANSACTION
    * HOME BANCORP INC - SHAREHOLDERS OF FRIENDSWOOD WILL
RECEIVE
$15.34 PER SHARE IN CASH, OR $66.6 MILLION IN AGGREGATE
    * HOME BANCORP INC - MERGER AGREEMENT ALSO PROVIDES THAT
TEXAN
BANK WILL BE MERGED WITH AND INTO HOME BANK, WITH HOME BANK AS
SURVIVOR
    * HOME BANCORP INC - ANTICIPATES TRANSACTION WILL BE OVER
20%
ACCRETIVE TO EARNINGS PER SHARE ONCE COST SAVINGS ARE FULLY
REALIZED
    * HOME BANCORP INC - ANTICIPATES TRANSACTION WILL BE AND
ACCRETIVE
TO TANGIBLE BOOK VALUE PER SHARE WITHIN 3.5 YEARS OF CLOSING
    * HOME BANCORP INC - NO ADDITIONAL CAPITAL WILL BE NEEDED BY
HOME
BANCORP TO COMPLETE TRANSACTION
    * HOME BANCORP INC - KENNY KONCABA, CEO OF FRIENDSWOOD WILL
REMAIN
ACTIVE IN COMBINED COMPANY AS HOUSTON MARKET PRESIDENT

Source text for Eikon:  ID:nPn6nLLLMa 
Further company coverage:  HBCP.O 

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