Neighbor News
Hamilton Bancorp and Fairmount Bancorp Merger Receives Regulatory and Shareholder Approval
The deal is expected to be completed at the close of business on Sept. 11, 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.
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“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@fallstongroup.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.
