On December 16, Home Bancorp Inc., the holding company of the 113-year-old Lafayette, Louisiana-based Home Bank NA, and Friendswood Capital Corp., the holding company of Houston-based Texan Bank NA, jointly announced the signing of a definitive agreement and plan of merger under which Home Bancorp will acquire Friendswood Capital Corp. in an all-cash transaction. The agreement provides that Texan Bank will be merged with and into Home Bank, with Home Bank as the survivor. The transaction is expected to close in the first quarter of 2022.
“This merger provides Home Bancorp the opportunity to expand our geographic footprint into Texas,” says John W. Bordelon, chairman, president and CEO 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.”
Friendswood Capital Corp. operates five branch locations in the Houston metropolitan area. As of September 30, the company had assets of $445.3 million, $342.8 million in loans and $376.3 million in deposits. Based on September 30 data, the combined company will have assets of approximately $3.2 billion, $2.2 billion in loans and $2.7 billion in deposits.
“Our company has always focused on serving our customers and communities with a professional team of bankers,” says Kenny Koncaba, CEO of Friendswood Capital Corp. and co-founder of Texan Bank. “Home Bank shares the same focus. With a broader range of products and services, we believe the combined companies will serve and achieve great success as one of the strongest community banks in the area.”
Kenny Koncaba and his wife, Kristi Koncaba, will both remain active in the combined company, serving customers as the Houston market president and Houston director of business development officer, respectively. Kristi Koncaba is a co-founder of Texan Bank and serves as chief operating officer.
Established in 1908, Home Bank operates 39 full-service banking locations in the Lafayette, Baton Rouge, New Orleans and Northshore (of Lake Pontchartrain) regions of South Louisiana and the Natchez and Vicksburg regions of Mississippi. Friendswood Capital Corp. was organized as a bank holding company in 2011 when it acquired all of the issued and outstanding shares of the Bank of Fort Bend, which was established in 2007 as a federal thrift. Thereafter, the bank changed to a national charter and was renamed Texan Bank.