On September 30, 2021, Home Savings Bank, Madison, Wisconsin, its parent company, Home Bancorp Wisconsin, Inc. (“Home Bancorp”), and Dupaco Community Credit Union (“Dupaco”), Dubuque, Iowa, announced that they had entered into a purchase and assumption agreement, pursuant to which Dupaco will acquire the assets and assume the liabilities of Home Savings Bank in an all cash transaction. Following the completion of the acquisition, Home Bancorp will distribute the net transaction proceeds to its stockholders. The distribution to stockholders is currently estimated to be between $26.47 and $27.32 per share of Home Bancorp common stock, subject to adjustment based on a minimum equity target.
Luse Gorman is serving as legal counsel to Home Savings Bank in the transaction. The Luse Gorman team consists of Kip Weissman, Michael Brown, Max Seltzer, Ellie Cook and Zachary Davis.
Home Savings Bank operates two branch offices in Wisconsin and had approximately $183 million in assets as of June 30, 2021.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.