Horizon Bancorp and Lafayette Community Bancorp Announce Receipt of Regulatory Approvals
August 16 2017 - 1:00PM
Horizon Bancorp (NASDAQ:HBNC) (“Horizon”) and Lafayette Community
Bancorp (OTC Pink:LFYC) (“Lafayette”), jointly announced that the
Indiana Department of Financial Institutions and the Federal
Deposit Insurance Corporation have approved the proposed merger of
Lafayette Community Bancorp and its wholly-owned subsidiary,
Lafayette Community Bank, with and into Horizon’s wholly-owned bank
subsidiary, Horizon Bank. The Federal Reserve Board also
granted Horizon’s requested waiver from its application filing
requirements. As a result, the parties may close the merger any
time after the U.S. Department of Justice waiting period expires on
August 29, 2017.
“We are pleased that our regulators have responded with the
required approvals necessary to complete the merger,” said Craig
Dwight, Chairman and Chief Executive Officer of Horizon. “We are
enthusiastic about this strategic partnership and are excited to
provide an expanded branch network and robust product offerings to
the Lafayette community.”
Bradley Marley, President and Chief Executive Officer of
Lafayette Community Bank stated, “The progress being made by both
Lafayette and Horizon’s integration teams has been going very well,
and we are pleased that all regulatory approvals have been obtained
in such a timely fashion. Obtaining regulatory approvals is
another step closer to our partnership, and we look forward to
becoming part of Horizon’s family.”
As previously disclosed, the merger is expected to be completed
in the third quarter, subject to approval by the shareholders of
Lafayette Community Bancorp, as well as the satisfaction of other
customary closing conditions. Lafayette Community Bank will be
merged into Horizon Bank, and the combined operations will be
continued under the Horizon Bank name. Lafayette will hold
its meeting of shareholders to approve the merger on August 28,
2017, at 10:00 a.m. (local time) at the main office of Lafayette
Community Bank, located at 301 South Street, Lafayette, Indiana
47901.
About Horizon BancorpHorizon Bancorp is an
independent, commercial bank holding company serving northern and
central Indiana, southwest and central Michigan, and central Ohio
through its commercial banking subsidiary Horizon Bank. Horizon
also offers mortgage-banking services throughout the Midwest.
Horizon Bancorp may be reached online at www.horizonbank.com.
Its common stock is traded on the NASDAQ Global Select Market under
the symbol HBNC.
About Lafayette Community BancorpLafayette
Community Bancorp operates as the bank holding company for
Lafayette Community Bank that provides commercial banking services
in Tippecanoe County, Indiana. Lafayette Community Bank was founded
in 2000 and operates offices throughout Lafayette and West
Lafayette, Indiana. Lafayette Community Bank may be reached
online at www.lafayettecommunitybank.com
Additional InformationCommunications in this
document do not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or
approval.
In connection with the proposed merger with Lafayette, Horizon
has filed with the SEC a Registration Statement on Form S-4 that
includes a proxy statement of Lafayette and a prospectus of
Horizon, as well as other relevant documents concerning the
proposed transaction. Horizon and Lafayette have mailed the
definitive proxy statement/prospectus to shareholders of Lafayette
(which mailings were first made on or about July 27, 2017).
Shareholders are urged to read the Registration Statement and the
proxy statement/prospectus regarding the merger and any other
relevant documents filed with the SEC, as well as any amendments or
supplements to those documents, because they contain important
information. A free copy of the proxy statement/prospectus, as well
as other filings containing information about Horizon, may be
obtained at the SEC’s website at www.sec.gov. You may also obtain
these documents, free of charge, from Horizon at
www.horizonbank.com under the tab “About Us – Investor
Relations – Documents – SEC Filings.”
The information available through Horizon’s website is not and
shall not be deemed part of this document or incorporated by
reference into other filings Horizon makes with the SEC.
Horizon and Lafayette and certain of their directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the shareholders of Lafayette in
connection with the proposed merger. Information about the
directors and executive officers of Horizon is set forth in
Horizon’s Annual Report on Form 10-K filed with the SEC on February
28, 2017, and in the proxy statement for Horizon’s 2017 annual
meeting of shareholders, as filed with the SEC on March 17,
2017. Additional information regarding the interests of those
participants and other persons who may be deemed participants in
the transaction may be obtained by reading the proxy
statement/prospectus regarding the proposed merger. Free copies of
this document may be obtained as described in the preceding
paragraph.
Forward Looking StatementsThis press release
may contain forward-looking statements regarding the financial
performance, business prospects, growth and operating strategies of
Horizon. For these statements, Horizon claims the protections
of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995.
Statements in this press release should be considered in
conjunction with the other information available about Horizon,
including the information in the filings we make with the
Securities and Exchange Commission. Forward-looking
statements provide current expectations or forecasts of future
events and are not guarantees of future performance. The
forward-looking statements are based on management’s expectations
and are subject to a number of risks and uncertainties. We
have tried, wherever possible, to identify such statements by using
words such as “anticipate,” “estimate,” “project,” “intend,”
“plan,” “believe,” “will” and similar expressions in connection
with any discussion of future operating or financial
performance.
Although management believes that the expectations reflected in
such forward-looking statements are reasonable, actual results may
differ materially from those expressed or implied in such
statements. Risks and uncertainties that could cause actual
results to differ materially include risk factors relating to the
banking industry and the other factors detailed from time to time
in Horizon’s reports filed with the Securities and Exchange
Commission, including those described in its Form 10-K. Undue
reliance should not be placed on the forward-looking statements,
which speak only as of the date hereof. Horizon does not undertake,
and specifically disclaims any obligation, to publicly release the
result of any revisions that may be made to update any
forward-looking statement to reflect the events or circumstances
after the date on which the forward-looking statement is made, or
reflect the occurrence of unanticipated events, except to the
extent required by law.
Horizon Contact Information:
Craig M. Dwight
Chairman and
Chief Executive Officer
Phone: (219) 873-2725
Fax: (219) 874-9280
Mark E. Secor
Chief Financial Officer
Phone: (219) 873-2611
Fax: (219) 874-9280
Lafayette Contact Information:
Bradley Marley
Chief Executive Officer
Phone: (765) 742-1523
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