Home Bancorp, Inc. announced Thursday that it has signed a merger agreement to acquire Friendswood Capital Corporation, the holding company of Texan Bank.
Under the terms of the Merger Agreement, shareholders of Friendswood will receive $15.34 per share in cash, or $66.6 million in the aggregate, upon consummation of the transaction.
The Merger Agreement, according to the companies, will also provide that Texan Bank will merge with and into Home Bank, with Home Bank as the survivor.
"This merger provides Home Bancorp the opportunity to expand our geographic footprint into Texas," said John W. Bordelon, Chairman, President and Chief Executive Officer of Home Bancorp. "Texan Bank and Home Bank share the same values of serving the community and providing excellent customer service to their clients. We look forward to further developing the Houston region together and building strong relationships with consumers and businesses."
The all-cash transaction is expected to close in the first quarter of 2022.
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