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BRIEF-Home Bancorp announces agreement to acquire St. Martin Bancshares, Inc.
August 23, 2017 / 11:44 PM / a month ago

BRIEF-Home Bancorp announces agreement to acquire St. Martin Bancshares, Inc.

Aug 23 (Reuters) - Home Bancorp Inc

* Home Bancorp, Inc. announces agreement to acquire St. Martin Bancshares, Inc.

* Home Bancorp, Inc. announces agreement to acquire St. Martin Bancshares, Inc.

* Stock consideration plus special distribution has a combined value of $457.47 per share to holders of St. Martin Bancshares common stock

* Under terms, St. Martin Bancshares will be merged with and into Home Bancorp; St. Martin Bank will be merged with and into Home Bank

* Stock consideration plus special distribution has a combined value of $96.1 million in aggregate

* Combined company will have assets of approximately $2.2 billion, $1.7 billion in loans and $1.8 billion in deposits

* Two members of St. Martin Bancshares’ current board of directors will join boards of Home Bancorp and Home Bank

* Merger agreement was unanimously approved by boards of directors of both companies

* No additional capital will be needed by Home Bancorp to complete transaction

* Anticipates transaction will be over 20% accretive to earnings per share once cost savings are fully realized

* Shareholders of st. Martin bancshares will receive 9.2839 shares of home bancorp common stock for each share of St. Martin Bancshares stock Source text for Eikon: Further company coverage:

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