RALEIGH, N.C., and TAMPA, Fla., March 27, 2018 (GLOBE NEWSWIRE) -- 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.
