FORT WAYNE, Ind. - Home Loan Bank has completed its conversion from a federal mutual savings bank to a federal stock savings bank and established a holding company, Home Bancorp.
The $281 million-asset bank's shares will be traded on the Nasdaq national market under the symbol HBFW.
The holding company, which acquired Home Loan Bank's common shares, sold 3.3 million shares of its common stock for $10 a share in the subscription and community offering.
Funds will be used primarily for general corporate purposes and to make one- to four-family mortgage loans and consumer loans.
The company's directors and executive officers purchased more than $972,000 of stock at the same price as the members and the public paid in the initial public offering.