HomeBancorp, Inc. Shareholders Approve Proposed Merger With First Citizens Bank
March 27 2018 - 10:50AM
First-Citizens Bank & Trust Company (First Citizens Bank) and
HomeBancorp Inc. (HomeBancorp) announced today that HomeBancorp’s
shareholders have approved First Citizens’ pending acquisition of
HomeBancorp and its HomeBanc subsidiary.
At a meeting held today, the shareholders of
Tampa-based HomeBancorp voted to approve the merger agreement with
Raleigh, N.C.-headquartered First Citizens Bank. Subject to the
receipt of regulatory approvals and the satisfaction or waiver of
other customary closing conditions, the merger is expected to
become effective on April 30, 2018, or as soon as practicable
thereafter.
After the merger, HomeBanc branch offices will initially operate
as HomeBanc, a division of First Citizens Bank. Customers should
bank as they normally do at their existing branches. HomeBanc
customer accounts are expected to be converted to First Citizens
Bank’s systems at a later date.
Jerry D. Campbell, chairman and CEO of HomeBancorp, said: “This
is an important step in the merger process. We’re very pleased by
the vote and to be joining with First Citizens Bank. It’s an
excellent opportunity for our shareholders, customers and
employees. Our cultures are a good match for one another. Customers
will receive access to a broader range of products and services and
increased lending capabilities, enabling us to meet more financial
needs in our community. We look forward to a smooth
transition.”
Frank B. Holding Jr., chairman and CEO of First Citizens Bank,
said: “We appreciate the affirmation by HomeBancorp shareholders
and look forward to the opportunity to expand into the central part
of Florida and serve new customers in the Tampa and Orlando
markets. We remain confident that First Citizens’ strength,
stability and commitment to customer service will allow us to build
on the solid foundation already established by HomeBanc.”
With headquarters in Tampa, HomeBanc has 13 retail branches in
Lake Mary, Winter Park, Lakewood Ranch (Sarasota), Belleair Bluffs,
Countryside (Clearwater), Dunedin, Kenneth City, Pinellas Park,
Seminole, Largo, St. Petersburg, and in Tampa on North Dale Mabry
Highway and in Westchase. As of December 31 2017, HomeBancorp
reported $911.9 million in consolidated assets, $677.7 million in
deposits and $612.6 million in loans.
First Citizens Bank currently operates 15 branches in Florida —
northeast (Duval and St. Johns counties), southeast (Martin, Palm
Beach, Broward and Dade counties) and southwest (Collier and Lee
counties) — with a commercial/business banking office in Sarasota.
About First Citizens Bank
Founded in 1898 and headquartered in Raleigh, N.C., First
Citizens Bank serves customers at more than 500 branches in 21
states. First Citizens Bank is a wholly owned subsidiary of First
Citizens BancShares, Inc. (Nasdaq:FCNCA), which has $34 billion in
assets. For more information, call toll free 1.888.FC DIRECT
(1.888.323.4732) or visit firstcitizens.com. First Citizens
Bank. Forever First®.
About HomeBancorp Inc. and HomeBanc
HomeBanc is a principal operating subsidiary of HomeBancorp,
Inc., a Tampa-based holding company that was established in 2007.
The bank operates 13 retail offices and offers a variety of retail
deposit products, along with SBA, USDA and commercial mortgage loan
products. For more information, visit homebanc.com.
Disclosures About Forward Looking
Statements
This Press Release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including Section 21E of the Securities Exchange Act of 1934
and Section 27A of the Securities Act of 1933. For the purposes of
these discussions, any statements that are not statements of
historical fact may be deemed to be forward looking statements.
Such statements are often characterized by the use of qualifying
words such as “expects,” “anticipates,” “believes,” “estimates,”
“plans,” “projects,” or other statements concerning opinions or
judgments of HomeBancorp, Inc. and its management about future
events. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those described in the statements.
Forward-looking statements in this Press Release include statements
regarding HomeBancorp’s and First Citizens Bank’s expectations
regarding the benefits of the merger, and when the merger will be
completed. The accuracy of such forward-looking statements could be
affected by factors beyond HomeBancorp's and First Citizens Bank's
control, including, but not limited to, difficulties experienced in
the integration of the businesses of HomeBancorp and First Citizens
Bank, delays in the receipt of regulatory approvals that must be
received before the merger may be completed, and delays in the
satisfaction or waiver of other remaining conditions to the
consummation of the merger. Additional factors that could cause
actual results to differ materially from those anticipated by
forward-looking statements are discussed in HomeBancorp’s Proxy
Statement for its special meeting of shareholders held on March 27,
2018. HomeBancorp and First Citizens Bank undertake no obligation
to revise or update these statements following the date of this
Press Release.
Contacts: |
Barbara Thompson |
Dana Cluckey |
Debra Hanses
Novakoski |
|
919.716.2716 |
813.549.7160 |
813.549.7158 |
|
First Citizens
Bank |
HomeBancorp |
HomeBancorp |
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