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Indiana-based Horizon Bancorp closing La Porte Bancorp deal

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Indiana-based Horizon Bancorp closing La Porte Bancorp deal

Michigan City, Ind.-based Horizon Bancorp ($2.63 billion) will close itsacquisition ofLa Porte, Ind.-based La PorteBancorp Inc. ($528.9 million) on July 18, according to a Form 8-Kfiled July 15.

Following the merger completion, La Porte Bancorp unit will mergewith and into Horizon's subsidiary Horizon Bank NA.

Based on 5,580,115 shares of LaPorte common stockoutstanding immediately prior to the effective time of the merger, holders ofapproximately 1,120,288 shares of LaPorte common stock validly elected toreceive the stock consideration, while holders of approximately 3,878,856shares validly elected to receive the cash consideration. Meanwhile, holders ofapproximately 580,971 shares of LaPorte common stock did not make a validelection.