MADISON, WI / ACCESSWIRE / November 17, 2020 / Home Bancorp Wisconsin, Inc. (OTCPK:HWIS) (the "Company"), the holding company for Home Savings Bank (the "Bank"), announced today that its Board of Directors has decided to seek stockholder approval at its 2021 annual meeting of a proposal that the Company retain an investment banker to evaluate its future strategic options for maximizing stockholder value including a potential merger or sale of control. This proposal was developed in consultation with some of the Company's largest stockholders and, to date, stockholders owning 40% of the Company's outstanding shares have committed to supporting it. There can be no assurance as to whether this proposal will be approved by stockholders nor whether, if it is approved, the Company will be able to successfully implement the strategies recommended by the investment banker. The Company has previously announced that its 2021 annual meeting of stockholders will be held on February 23, 2021.
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 two full-service banking offices located in Madison, Wisconsin, and a third located in Stoughton, Wisconsin. The Bank has announced that it will close its Stoughton office effective November 25, 2020. Bank customers will continue to be served by the Bank's two remaining Madison offices and a robust suite of alternative product and service delivery channels.
This communication may contain certain forward-looking statements. 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, including the effects of the coronavirus (COVID-19) pandemic. The Company and Home Savings Bank assume no obligation to publicly revise any forward-looking statements to reflect subsequent events or circumstances.
Contact:
James R. Bradley
President and Chief Executive Officer
(608) 282-6116
SOURCE: Home Bancorp Wisconsin, Inc.