LAFAYETTE, La., Feb. 14, 2014 /PRNewswire/ -- Home Bancorp, Inc.
(NASDAQ: HBCP), the holding company of the 105-year-old Home Bank
(www.home24bank.com) announced the completion of its acquisition of
Britton & Koontz Capital Corporation (OTCQB: BKBK) ("Britton
& Koontz"), the holding company of the 147-year-old Britton
& Koontz Bank, N.A. ("Britton
& Koontz Bank"). The
combined company has total assets of approximately $1.2 billion, $870
million in loans and $960
million in deposits.
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"Since the announcement of the merger in November," said
John W. Bordelon, President and
Chief Executive Officer of Home Bancorp and Home Bank, "teams from
both institutions have done a tremendous job working together to
ensure this transaction is a win-win for our shareholders, our
customers and the communities we serve."
"As we've gotten to know Home Bank's leadership and culture over
the past months," stated W. Page
Ogden, President and Chief Executive Officer of Britton
& Koontz, "we enter this new era of banking certain we've
partnered with people who share the values of our customers and
colleagues."
Britton & Koontz's Deanna
Bowser has been named Home Bank's Market President for
Mississippi.
Home Bank plans to convert the branch and operating systems of
the former Britton & Koontz Bank
locations to those of Home Bank in March 2014. Home Bancorp
anticipates the transaction will be accretive to earnings per share
in the first full year of combined operations and accretive to
tangible book value per share within two years of closing.
Following the merger, Home Bank's capital position is expected to
remain one of the strongest in the industry with leverage and total
risk-based capital ratios above 11% and 16%, respectively. No
additional capital was needed to complete the
transaction.
Shareholders of Britton & Koontz will receive $16.14 per share in cash, resulting in an
aggregate deal value of $34.5
million.
This 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, industry conditions, company performance and
financial results. They often include the words "believe,"
"expect," "anticipate," "intend," "plan," "estimate" or words of
similar meaning, or future or conditional verbs such as "will,"
"would," "should," "could" or "may." Forward‑looking
statements, by their nature, are subject to risks and
uncertainties. A number of factors ‑ many of which are beyond
our control ‑ could cause actual conditions, events or results to
differ significantly from those described in the forward‑looking
statements. Forward-looking statements regarding the
transaction are based upon currently available
information.
Actual results could differ materially from those indicated
in forward-looking statements. Among other factors, actual
results may differ from those described in forward-looking
statements due to: the anticipated benefits from the
transaction are not realized in the time frame anticipated or at
all as a result of changes in general economic and market
conditions, interest rates, laws and regulations and their
enforcement, and the degree of competition in our markets; the
ability to promptly and effectively integrate the businesses of the
companies; the reaction of the companies' customers to the
transaction; diversion of management time on merger-related issues;
changes in asset quality and credit risk; the inability to sustain
revenue and earnings; and competitive conditions.
Home Bancorp's Annual Reports on Form 10-K and other reports
describe some additional factors which could cause actual
conditions, events or results to differ significantly from those
described in forward-looking statements.
Forward‑looking statements speak only as of the date they are
made. Copies of the Home Bancorp's reports are available in
the Investor Relations section of its website,
www.home24bank.com. We do not undertake to update
forward‑looking statements to reflect circumstances or events that
occur after the date the forward‑looking statements are made or to
reflect the occurrence of unanticipated events.
SOURCE Home Bancorp, Inc.