In the midst of our 100th year anniversary celebration, we are excited by the combination of two established community banks. [Robert DeAlmeida, Hamilton Bank President & CEO]
TOWSON, Md. (PRWEB) September 10, 2015
Hamilton Bancorp, Inc. (NASDAQ: HBK) and its subsidiary, Hamilton Bank (collectively, “Hamilton”), today announced it received required regulatory approval for its merger with Fairmount Bancorp, Inc. (OTC Pink: FMTB) and its subsidiary, Fairmount Bank (collectively, “Fairmount”).
At a meeting held on September 8, 2015, Fairmount shareholders voted overwhelmingly to approve the merger with Hamilton. The deal is expected to be completed at the close of business on September 11, 2015. Hamilton will acquire approximately $75 million in assets, $53 million in loans and $53 million in deposits, and will increase its branch network by one.
Material terms of the merger and merger agreement were previously included in a Current Report on Form 8-K filed with the SEC on April 16, 2015.
“In the midst of our 100th year anniversary celebration, we are excited by the combination of two established community banks,” said Robert DeAlmeida, President and CEO of Hamilton. “We believe in building lasting relationships with businesses, homeowners, individuals and the many wonderful families in our community. We look forward to welcoming and serving Fairmount’s customers.”
Please direct all media inquiries to Rob Weinhold at 410-420-2001 or by email at rob(at)fallstongroup(dot)com. Please direct investor inquiries for Hamilton Bancorp to Robert DeAlmeida at 410-823-4510. Please direct investor inquires for Fairmount Bancorp to Joseph Solomon at 410-866-4500.
About Hamilton Bank
Founded in 1915, Hamilton Bank is a community bank with $285.4 million in assets and $44.8 million in regulatory capital. The bank employs more than 50 people and operates four branch locations across Greater Baltimore, serving the communities of Cockeysville, Pasadena, Towson and Baltimore in Maryland. Whether online or on the corner, Hamilton Bank is a community bank that cares about its customers. Together. Let’s Grow. http://www.hamilton-bank.com.
Member FDIC and Equal Housing Lender
This current report on Form 8-K contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “expect,” “estimate,” “anticipate,” “continue,” or similar terms, variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the companies operate; competitive products and pricing; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including compliance costs and capital requirements; changes in prevailing interest rates; acquisitions and the integration of acquired businesses; credit risk management; asset-liability management; the financial and securities markets; and the availability of and costs associated with sources of liquidity.
Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Readers are advised that the factors listed above could affect our financial performance and could cause our actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Fairmount Bank and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Fairmount Bank in connection with the proposed transaction. Information about the directors and executive officers of Fairmount Bank and additional information about the interests of directors and executive officers of other persons who may be deemed participants in the transaction may be obtained by reading the joint proxy statement/prospectus included in the Form S-4 when it becomes available.