Company Description (as filed with the SEC)
SP Bancorp, Inc. (“SP Bancorp”) was incorporated as a Maryland corporation on June 16, 2010 and owns all of the outstanding shares of common stock of SharePlus Federal Bank (the “Bank”) as a result of the Bank’s conversion from a federal mutual savings bank to a capital stock savings bank on October 29, 2010. In its initial public offering, SP Bancorp issued a total of 1,725,000 shares of common stock, par value $0.01 per share (“common stock”), at a price of $10 per share for aggregate gross proceeds of $17.3 million. SP Bancorp has not engaged in any business to date other than owning the common stock of the Bank. When using the terms “we,” “us,” “our,” or the “Company,” we are referring to SP Bancorp and the Bank on a consolidated basis. As of December 31, 2012, we had $288.1 million of total assets, $229.6 million of loans, net, including loans held for sale, $232.3 million of deposits and $33.0 million of total stockholders’ equity on a consolidated basis. ... More ...