Lafayette, La.-based Home Bancorp Inc. on Dec. 6 closed its acquisition of Saint Martin Bancshares Inc.
St. Martin Bank and Trust Co., which had $591.3 million in assets as of Sept. 30, merged into Home Bank NA, which had $1.59 billion.
Pursuant to the merger agreement, Saint Martin paid its shareholders a special cash distribution of $94.00 per share. Two of its board members, Daniel Guidry and Mark Cole, joined Home Bancorp's and Home Bank's boards.
The resulting entity has $2.2 billion in assets, $1.7 billion in loans and $1.8 billion in deposits. Systems integration is slated for March 2018.