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Hometown Community Bancorp embarking on $60M debt offering

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Hometown Community Bancorp embarking on $60M debt offering

Morton, Ill.-based Hometown Community Bancorp Inc. sold $34 million of a $60 million debt offering, the bank disclosed in a March 30 Form D filing.

According to document, 121 investors have invested in the offering, with the first sale occurring March 15. The minimum investment accepted from any outside investor is $150,000.

The offering is not being made in connection with a merger, acquisition or exchange offer and is not expected to last more than one year, the filing stated.

Management did not immediately return a request for comment.

The bank reported $3.54 billion in total assets as of Dec. 31, 2017. It recently completed its acquisition of Speer, Ill.-based Speer Bancshares Inc.