Home Bancorp, Inc. Completes Stock Offering
October 02 2008 - 5:00PM
PR Newswire (US)
LAFAYETTE, La., Oct. 2 /PRNewswire/ -- Home Bancorp, Inc.
(NASDAQ:HBCP), the newly formed holding company for Home Bank,
Lafayette, Louisiana (the "Bank"), announced that it has completed
its initial public stock offering in connection with the Bank's
conversion from the mutual to the stock form of organization. The
Company issued a total of 8,926,875 shares of its common stock (the
"Common Stock") for an aggregate of $89,268,750 in total offering
proceeds. Trading in the Common Stock is expected to commence on
the Nasdaq Global Market on Friday, October 3, 2008 under the
symbol "HBCP". John W. Bordelon, President and Chief Executive
Officer, stated, "Home Bank has enjoyed a wonderful relationship
with our customers over the years. We are delighted so many have
demonstrated their confidence in our future by investing in the
Company's stock." "While other banks struggle with capital and
liquidity issues, Home Bank's capital and liquidity levels are
among the best in the country for our size institution," remarked
Mr. Bordelon. "We expect that the new capital will help us serve
our Acadiana and Baton Rouge customers even better and to attract
new clients looking for a strong, local bank." Sandler O'Neill
& Partners, L.P. served as financial advisor and marketing
agent with regard to the Company's offering. Elias, Matz, Tiernan
& Herrick L.L.P., Washington, D.C., served as special counsel
to Home Bancorp for the conversion and stock offering. At June 30,
2008, Home Bank had total assets of $448.1 million, deposits of
$355.8 million and equity of $50.8 million. Home Bank is
celebrating its 100th anniversary of serving Acadiana. Home Bank
has nine locations in Acadiana and opened its first full service
branch in Baton Rouge at Highland and Jefferson in September. Home
Bank also operates a loan production office in Baton Rouge and
expects to open its second full service Baton Rouge branch in
November. Orders received from the Bank's eligible account holders
(priority 1) and the Employee Stock Ownership Plan (priority 2)
accounted for substantially all of the common stock issued by the
Company. Less than 100,000 shares were allocated among supplemental
eligible account holders. Subscribers who do not receive their full
allocations or who were in lower priorities will have their funds
for subscription returned promptly. Subscribers may confirm their
stock allocation information by calling the Company's conversion
center at (877) 784-1067. This news release contains certain
forward-looking statements. Forward-looking statements can be
identified by the fact that they do not relate strictly to
historical or current facts. 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. Home Bancorp's prospectus, dated August 12, 2008,
describes some of these factors, including risk elements in the
loan portfolio, the level of the allowance for losses on loans,
risks of our growth strategy, geographic concentration of our
business, dependence on our management team, risks of market rates
of interest and of regulation on our business and risks of
competition. Forward-looking statements speak only as of the date
they are made. 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. DATASOURCE: Home Bancorp, Inc.
CONTACT: John W. Bordelon, President & Chief Executive Officer
of Home Bancorp, Inc., +1-337-237-1960 Web site:
http://www.home24bank.com/
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