Nathan Stubbs

Home Bank raises $90 million in IPO

by Nathan Stubbs

Lafayette based Home Bank's holding company raised $90 million in its initial public offering of 8.93 million shares of common stock at $10 per share. The bank's stock offering expired Sept. 17, and its plan of conversion from a mutual to stock ownership was approved by its members on Sept. 26.

Home Bancorp, the holding company for Home Bank, plans to complete its conversion and stock offering this week, with trading expected to begin on the Nasdaq Global Market Friday under the symbol “HBCP.”

As of June 30, 2008, Home Bancorp had $448.1 million in assets, $355.8 million in deposits and $50.8 million in total equity. The federally chartered savings bank has nine full service branch offices in Acadiana and one full-service location and loan production office in Baton Rouge.