Financial M&A » By The Online Investor Staff, updated Mon., Jan. 24, 12:46 PM
Recent mergers and acquisitions in the Financial M&A category.
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Slide #54. Home BancShares, Inc. — Florida Traditions Bank
Acquirer:
Home BancShares, Inc. (NYSE:HOMB)
Acquiree:
Florida Traditions Bank
Details:
Home BancShares, Inc. (Nasdaq:HOMB) ("Home" or "the Company"), parent company of Centennial Bank ("Centennial"), and Florida Traditions Bank ("Traditions"), today announced they have entered into a non-binding letter of intent for the Company to acquire all of the outstanding shares of Traditions, which will be merged into Centennial. Traditions' shareholders will receive approximately $43 million of Home common stock. Although the parties have entered into a letter of intent, there is no guarantee the parties will enter into a definitive agreement.
Home Bancshares is a bank holding company. Through its subsidiary, Centennial Bank (the Bank), Co. is primarily engaged in providing a range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. Co. originates loans secured by single and multi-family real estate, residential construction and commercial buildings. Co. also provides a range of deposit services, including checking, savings, money market accounts and certificates of deposit.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 15th percentile
(ranked lower than approx. 85% of all stocks covered)
Analysts' Target Price: HOMB Stock Forecast Based on Zacks ABR data; powered by Xignite |
