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Wednesday, June 29, 2022

How Did The Home Bancorp (HWIS) Stock Rocketed 46%?

The stock of Home Bancorp Wisconsin Inc (OTCPink:HWIS) ended Friday up 45.86 percent to $24.140, and has been trading within a day range of $25.000 to $23.100. Having seen over 2.74K shares traded for the month, HWIS stock has surged by over 44.12% over the last month. The HWIS stock gained over 49.94% during the last three months, and its average volume was 4.05K. With a stock price increase of 141.40% during the past 12 months, HWIS stock reached a high of $25,000. The market cap of the company is $32.66M. In the wake of signing a definitive agreement to sell certain of its stakes, HWIS stock climbed.

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Who has been buying stakes from HWIS?

Home Bancorp serves as the holding company of its subsidiary, Home Savings Bank, a chartered savings bank based mostly in Madison, Wisconsin. In addition to demand deposits and money market accounts, HWIS-subsidiary accepts checking accounts, savings accounts, club accounts, certificate of deposit accounts, as well as interest-bearing and non-interest-bearing accounts. Additionally, HWIS offers single-family, two-family, three-family, four-family, commercial, multifamily, and home equity loans. HWIS also offers loans for small business, construction loans, and consumer debt, as well as mortgages, auto loans, and business loans.  

As part of that deal, the credit union and Home Bancorp, which owns Home Savings Bank, signed a definitive purchase and assumption agreement with Dupaco Community Credit Union last week.

  • A 100% cash deal will see Dupaco acquiring Home Savings Bank’s assets and assuming its liabilities.
  • After the Transaction is completed, HWIS and Home Savings Bank will settle any remaining obligations and distribute any cash remaining to the HWIS stockholders.
  • As of June 30, 2021, Home Savings Bank had approximately $183 million in assets and two bank branches in Madison, Wisconsin.
  • In addition to its 18 branches, Dupaco has over 143,000 members and a branch in Platteville, Wisconsin.
  • Dupaco will gain 20 branches and approximately $2.8 billion in assets with this strategic acquisition by June 30, 2021.

During the 2014 mutual-to-stock conversion of Home Savings Bank, HWIS was created. One aspect of such a conversion was the establishment of a liquidation account for certain Home Savings Bank depositors. In connection with the Transaction and Liquidation, Home Savings Bank will make payments to the holders of sub accounts in this account that remain untouched.

How HWIS will go through it?

Based on the current estimate by Home Bancorp (HWIS), its stockholders will be paid between $26.47 and $27.32 in cash upon the completion of the Liquidation. The consideration received by stockholders can vary substantially depending on several factors, including the amount taxed at the corporate level by the Transaction and Liquidation, possible changes to general corporate tax rates, uncertainty regarding the liquidation account’s regulatory treatment and future operating results of Home Savings Bank. Moreover, the consideration determined by Home Bancorp (HWIS) at closing depends upon HWIS’s ability to achieve a minimum equity value, as well as costs incurred in dissolving Home Savings Bank and HWIS.

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