Daily News: December 7, 2017

Home Bancorp Closes Merger with St. Martin

Home Bancorp completed its acquisition of St. Martin Bancshares and its wholly-owned subsidiary, St. Martin Bank & Trust. Both St. Martin Bancshares and St. Martin Bank & Trust merged with Home’s corresponding entities, and the new, combined bank will operate under the “Home Bank” name after completing a systems integration scheduled for March 2018.

Under the terms of the merger agreement, shareholders of St. Martin will receive 9.2839 shares of Home Bancorp common stock for each share of St. Martin common stock. St. Martin also paid a special cash distribution of $94.00 per share to its shareholders, immediately prior to the closing of the merger.

With the combination of the two organizations, Home Bancorp, on a consolidated basis, has approximately $2.2 billion in assets, $1.7 billion in loans and $1.8 billion in deposits.

“By bringing our two companies together, we become the third largest bank headquartered in Louisiana,” stated John W. Bordelon, president and CEO of both Home Bancorp and Bank. “This gives us an even greater capacity to continue investing in our customers and our combined company. On behalf of our board of directors and employees, we welcome St. Martin Bank’s customers and team to our family.”

In accordance with the agreement, two former directors of St. Martin, Daniel G. Guidry and Mark M. “Aubrey” Cole, were elected to the boards of directors of Home Bancorp and Home Bank. Guidry was a member of the St. Martin’s board for 33 years, while Cole was appointed to it in 2013.

“We are pleased to welcome these two outstanding business leaders to our board of directors,” stated Michael P. Maraist, chairman of the board. “Both individuals will add unique perspectives and knowledge to our team, helping us further our growth and outreach.”

Home Bank conducts business from 40 full-service banking throughout southern Louisiana and the Natchez and Vicksburg regions of Mississippi.