| SPRINGFIELD Hampden Bancorp, Inc., the holding company for Hampden Bank, announced that it received regulatory approval to complete, and has completed, the conversion of the holding company structure of Hampden Bank from mutual to stock form and the related stock offering at the maximum offering amount, as adjusted. In completing the conversion and stock offering, Hampden Bancorp, Inc. sold 7,571,313 shares of common stock to eligible account holders of Hampden Bank and to the Hampden Bank Employee Stock Ownership Plan at a price of $10.00 per share. The offering was oversubscribed by Hampden Bank depositors as of April 30, 2005, the first priority category. As a result, 6,935,323 shares will be allocated to them based on their deposits as of April 30, 2005 and the Hampden Bank Employee Stock Ownership Plan will be allocated 635,990 shares as provided in the Amended and Restated Plan of Conversion. The offering, which expired Dec. 22, 2006, was managed by Keefe, Bruyette & Woods, Inc. Additionally, as part of the conversion, Hampden Bancorp, Inc. will contribute 378,566 shares ($3.8 million value based on the $10.00 offering price) to establish the Hampden Bank Charitable Foundation, a new charitable foundation that will make grants in markets in which Hampden Bank has offices. After the conversion and offering, Hampden Bancorp will have 7,949,879 shares outstanding. Shares of Hampden Bancorp, Inc.'s common stock are expected to begin trading on Jan. 17, 2007 on the NASDAQ Global Market under the symbol "HBNK." |
