Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

2 Arkansas bank companies to merge

[June 26, 2013]  LITTLE ROCK, Ark. (AP) -- Home BancShares Inc. says it's buying privately held Liberty Bancshares Inc. of Jonesboro, Ark., creating a $7.1 billion company.

The two companies announced the deal Tuesday and said it will close later this year, following regulatory and shareholder approval. The combined company will have 151 branches and 1,500 employees in Arkansas, Florida and southern Alabama.

Home BancShares is headquartered in Conway, Ark., and is the parent company of Centennial Bank. The merger will double the number of Arkansas branches for Centennial Bank, to 92.

Home said that shareholders of Liberty will receive $250 million of Home BancShares common stock plus $30 million in cash.

Home BancShares rose $1.66, or 7.8 percent, to close at $22.82 amid a broad market rally.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.