Horizon Bancorp Announces Closing of Lafayette Community Bancorp Merger
September 01 2017 - 8:30AM
Horizon Bancorp (NASDAQ:HBNC) (“Horizon”), the parent of Horizon
Bank, (“Horizon Bank”) announces the completion of the acquisition
of Lafayette Community Bancorp and its wholly-owned subsidiary
Lafayette Community Bank in Indiana, effective September 1, 2017.
Lafayette Community Bancorp merged into Horizon and simultaneously
Lafayette Community Bank merged into Horizon Bank. As previously
announced, the bank will operate under the name Horizon Bank.
As part of this transaction, Horizon Bank added four new
branches to expand its branch network to 60 offices throughout
northern and central Indiana and southern Michigan and Ohio. “We’re
confident customers will be pleased that many of the familiar faces
they’ve come to know and trust will remain with Horizon at their
local branch, and they will still be completely invested in the
Lafayette community. Teaming up with the experienced banking
professionals at Lafayette Community Bank has truly been a
pleasure. They are a cohesive group of professionals
committed to their customers and the community,” said Craig M.
Dwight, Horizon Bank’s Chairman and Chief Executive Officer.
Bradley Marley, President and Chief Executive Officer of
Lafayette Community Bank stated, “We are excited to team up with a
company that covets the same values and culture ours has throughout
the years. Horizon is a solid, growing company and we look forward
to better serving the Lafayette community.”
Dwight further commented, “Horizon Bank will add value to the
customers served by Lafayette Community Bank with an expanded
branch network; a more robust product line-up including advanced
treasury management services for businesses; a wide range of
mortgage products; higher lending limits; and service guarantees on
loan approvals.”
Marley also stated, “Local efforts will continue to be led by
myself, Steve Hickman and Dick Murray, and we intend to establish a
Greater Lafayette Advisory Board to maintain the pulse of the
community.”
The companies are finalizing integration plans that include a
systems integration and sign change expected to take place the
weekend of September 23, 2017. As a result, customer accounts will
automatically change to Horizon accounts with no action required on
the part of the customer. Customer checks, direct deposits,
payments, and account numbers will remain unchanged in order to
make this transition as smooth as possible.
Horizon was advised by the law firm of Barnes & Thornburg
LLP. Lafayette Community Bancorp was advised by Renninger &
Associates, LLC and the law firm of SmithAmundsen LLC.
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.
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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