Home Bancorp Closes Acquisition Of Britton & Koontz Capital - Quick Facts

(RTTNews) - Home Bancorp Inc. (HBCP) Friday announced the completion of its acquisition of Britton & Koontz Capital Corp. (BKBK).

The combined company has total assets of about $1.2 billion, $870 million in loans and $960 million in deposits.

Britton & Koontz's Deanna Bowser has been named Home Bank's Market President for Mississippi.

Home Bank plans to convert the branch and operating systems of the former Britton & Koontz Bank locations to those of Home Bank in March 2014.

Home Bancorp anticipates the transaction will be accretive to earnings per share in the first full year of combined operations and accretive to tangible book value per share within two years of closing.

Following the merger, Home Bank's capital position is expected to remain one of the strongest in the industry with leverage and total risk-based capital ratios above 11% and 16%, respectively.

Shareholders of Britton & Koontz will receive $16.14 per share in cash, resulting in an aggregate deal value of $34.5 million.