UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report Commission File Number
June 16, 2000 0-22376
HOME BANCORP
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(Exact name of registrant as specified in its charter)
Indiana 35-1906765
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State or other jurisdiction I.R.S. Employer Identification
incorporation Number
132 East Berry Street, P.O. Box 989
Fort Wayne, Indiana 46801-0989
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Registrant's telephone number, including area code: (219) 422-3502
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Item 5. Other Events
On June 16, 2000 Home Bancorp and Old Kent Financial Corporation
jointly released the following press release:
Grand Rapids, Michigan - David J. Wagner, Chairman, President and CEO
of Old Kent Financial Corporation, and C. Philip Andorfer, Chairman of Home
Bancorp, announced today that they have signed a definitive agreement for the
acquisition of Home Bancorp by Old Kent.
Home Bancorp, the holding company for Home Loan Bank fsb, is
headquartered in Fort Wayne, Indiana, and had assets of $403 million and
deposits of $353 million at March 31, 2000. Home Loan Bank serves Allen and
Adams Counties from 10 banking locations; seven in Fort Wayne, two in Decatur
and one branch in New Haven.
Mr. Wagner stated, "We are very pleased by this natural extension of
our franchise into these attractive Indiana markets." Fort Wayne, the 2nd
largest city in Indiana, is located in one of the fastest growing counties in
the state and was ranked among the top 50 best small metro areas in America for
starting and growing a business by INC. magazine (12/99).
Mr. Andorfer commented, "We view the transaction as being beneficial to
Home Bancorp's customers and shareholders. Old Kent offers a broad array of
products and services, and is highly committed to its customers and the
communities it serves. In addition, Old Kent has historically delivered
excellent shareholder value as evidenced by its ten year total annual return to
shareholders of 21%."
The merger is subject to the customary approvals by Home Bancorp
shareholders and by regulatory authorities. This transaction is expected to be
completed during the fourth quarter of 2000.
The merger will be treated as a "purchase" transaction for accounting
purposes, and as a tax free exchange of shares. Home Bancorp shareholders will
receive approximately 1.3 million shares of Old Kent stock, using an exchange
ratio of 0.6614 for each share of Home Bancorp ($19.59 per share based on Old
Kent's closing price on June 15, 2000). The total value of the transaction would
be $39 million.
Old Kent is a financial holding company headquartered in Grand Rapids,
Michigan, with a 41 year history of consecutive increases in annual per share
earnings and dividends. It operates nearly 300 banking offices in Michigan,
Illinois and Indiana as well as a national mortgage franchise. At April 1, 2000,
Old Kent had total assets of approximately $21 billion.
(1)
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
HOME BANCORP
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(Registrant)
June 20, 2000 /s/ Donald E. Thornton
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Donald E. Thornton
Senior Vice President
