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Home BancShares (HOMB) in Conway, Ark., got a big boost last quarter from a recent acquisition.
July 17 -
Many people in Florida were sure that M&A would pass over the Sunshine State for years after the financial crisis. But a recent influx of deals suggests that Florida hasn't lost its luster.
May 19 -
John W. Allison of Home BancShares was on the prowl for a deal in Florida when a "game-changer" came up in its home state of Arkansas. He sacrificed geographic diversification for a local moneymaker. Was it the right move for the long term?
July 3 -
The $4.2 billion-asset, Conway, Ark., company will pay $280 million in cash and stock for the $2.9 billion-asset Liberty.
June 25
Home Bancshares in Conway, Ark., has agreed to acquire Broward Financial Holdings in Fort Lauderdale, Fla.
The $6.8 billion-asset Home will pay $33 million to $34 million in cash and stock for the $168.5 million-asset Broward. The deal is expected to close in the fourth quarter, pending shareholder and regulatory approvals.
The deal price includes the conversion of Broward's outstanding stock warrants into $3 million of Broward common equity before closing.
Broward, which has two branches in Fort Lauderdale, had $110.8 million in loans and $143.8 million in deposits as of June 30.
"We are very pleased to have an opportunity to expand our South Florida footprint," Randy Sims, the chief executive officer of Home, said in a press release Wednesday. "The regional economy is growing, and the unemployment rate remains below the Florida state average in the Fort Lauderdale metropolitan division."
Home Bancshares this year
