MADISON, Wis.--(BUSINESS WIRE)--Home Bancorp Wisconsin, Inc. (OTC Pink: HWIS) (the “Company”), the holding company for Home Savings Bank (the “Bank”), announced today that it has completed a private placement of 417,949 shares of its common stock at a price of $9.75 per share, resulting in gross proceeds to the Company of approximately $4,075,000, before deducting expenses. The shares are being sold pursuant to definitive agreements with institutional investors and certain other accredited investors including directors and executive officers of the Company. FIG Partners LLC served as placement agent for the offering.
The proceeds from the sale of common stock will be used for general corporate purposes, including strengthening the Bank’s capital position, funding loan growth and maintaining regulatory requirements. The Company’s Chairman and Chief Executive Officer, James R. Bradley, stated “We are pleased to announce this financing from a group of investors who are familiar with our Company. We appreciate their continued support, as well as that of our local community.”
Home Savings Bank is a Wisconsin chartered savings bank that has served the banking needs of its customers since 1895. Home Savings Bank currently conducts business from its four full-service banking offices, with three offices located in Madison, Wisconsin, and the fourth located in Stoughton, Wisconsin.
This press release may contain certain forward-looking statements about the private placement. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and Home Savings Bank are engaged.