8-KOther EventsExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Corporate Update (Mar 27, 2018)

Filed March 27, 2018For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens Bancshares Inc /DE/ (FCNCA) filed an 8-K on March 27, 2018, to announce a significant development in its previously announced merger with HomeBancorp, Inc. The key information disclosed is that HomeBancorp's shareholders have approved the proposed merger. This shareholder approval represents a crucial step forward in the transaction, moving it closer to completion. The merger, which involves HomeBancorp and its bank subsidiary, HomeBanc, being integrated into First Citizens Bank & Trust Company (FCB), is expected to bring strategic benefits to both entities. While the press release attached as an exhibit provides further details on the transaction's progress and potential advantages, investors should note that the completion of the merger is still subject to regulatory approvals and other customary closing conditions. The company has also included standard forward-looking statement disclosures, highlighting potential risks and uncertainties that could impact the actual outcome of the merger.

Key Highlights

  • 1HomeBancorp shareholders have approved the proposed merger with First Citizens Bancshares Inc /DE/.
  • 2The announcement was made via a joint press release issued on March 27, 2018.
  • 3The merger involves HomeBancorp and its bank subsidiary, HomeBanc, being integrated into First Citizens Bank & Trust Company (FCB).
  • 4Shareholder approval is a key milestone, moving the merger closer to completion.
  • 5The merger's completion is contingent upon receiving necessary regulatory approvals.
  • 6Other customary closing conditions must also be met for the merger to be finalized.
  • 7The filing includes forward-looking statements discussing potential benefits and risks associated with the merger and its integration.

Frequently Asked Questions

This 8-K filing's primary purpose is to report that HomeBancorp, Inc.'s shareholders have approved the proposed merger with First Citizens Bancshares Inc /DE/ (FCNCA). It signifies a key step towards the completion of the transaction.

Following shareholder approval, the next critical steps for the merger to be completed are obtaining the necessary regulatory approvals and satisfying any other remaining closing conditions outlined in the merger agreement.

The filing mentions potential risks, including difficulties in integrating the businesses of HomeBancorp and First Citizens Bank, delays in receiving regulatory approvals, and delays in satisfying other conditions required for the merger's consummation.

More detailed information about the merger can be found in the joint press release dated March 27, 2018, which is attached as Exhibit 99.1 to this 8-K filing. Additionally, HomeBancorp's Proxy Statement for its special meeting of shareholders held on March 27, 2018, may contain further disclosures.