Habitat to dedicate fourth home Aug. 3
Habitat for Humanity will host a dedication ceremony for its fourth house on Sunday, August 3 at 2 p.m.
Please join us as we celebrate the dedication of the new home of the Weeks family, in Magnolia Ridge at 264 Ridgecrest, in Eastpoint.
Centennial buys Florida Traditions Bank
Home BancShares, Inc. (NASDAQ GS: HOMB), parent company of Centennial Bank, announced last week its completion of the acquisition of Florida Traditions Bank.
Pursuant to the terms of a previously announced definitive agreement and plan of merger, Traditions will merge into Centennial upon the filing of articles of merger with the Arkansas State Bank Department and with the Secretary of State of the State of Florida effective as of close of business day, July 17.
Upon completion of the transaction, the combined company will have approximately $7 billion in total assets, $5.5 billion in total deposits, $4.7 billion in total loans and 149 branches across Arkansas, Florida and South Alabama. The transaction is accretive to the company’s book value per common share and tangible book value per common share.
"We are pleased this acquisition opportunity arose to expand our presence in Central Florida," said John Allison, Home’s chairman. "Centennial Bank will be able to better serve the needs of our Central Florida customers with more convenient locations."
"We are equally excited about the opportunities this acquisition provides our customers and employees,” said Bud Stalnaker, chief executive officer of Traditions. “Joining Centennial not only enhances our service capabilities, but also allows our focus to remain on outstanding community banking."
Stalnaker, the 2014 Florida Bankers Association Banker of the Year, will become division president for Centennial in Central Florida, managing the existing footprint of nine branches in the Orlando and Tampa markets as well as the eight former Florida Traditions branch locations.
"We are excited about this opportunity to merge our banking services with the Traditions management team," said Randy Sims, Home’s CEO. “We believe the comparable strengths of Centennial and the Traditions team creates a prominent, dynamic financial institution with experienced local leadership and talented associates who are ready to serve our valued customers and communities from Tampa to Orlando.”
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities.