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Stock impact report

First Citizens Bank and HomeBancorp, Inc. Announce Merger Agreement

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: GlobeNewswire
RALEIGH, N.C., and TAMPA, Fla., Dec. 18, 2017 (GLOBE NEWSWIRE) -- First-Citizens Bank & Trust Company (known as First Citizens Bank) and HomeBancorp, Inc. announced today the signing of a definitive merger agreement. HomeBancorp, Inc. provides retail banking, SBA, USDA and commercial mortgage loan products and services through its subsidiary, HomeBanc. The agreement provides for the acquisition of Tampa, Fla.-based HomeBancorp by First Citizens Bank, which is headquartered in Raleigh, N.C. The announcement was made jointly by Frank B. Holding Jr., chairman and chief executive officer of First Citizens Bank, and Jerry D. Campbell, chairman and chief executive officer of HomeBancorp. The agreement has been approved by the boards of directors of both companies. The transaction is expected to close no later than the second quarter of 2018, subject to the receipt of regulatory approvals and the approval of HomeBancorp shareholders. Under the terms of the agreement, cash consideration Show less Read more
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