Centennial Bank Announces Completion of Acquisition of Premier Bank Branches
CONWAY, Ark., Dec. 1, 2012 (GLOBE NEWSWIRE) -- Centennial Bank ("Centennial"), a wholly-owned subsidiary of Home BancShares, Inc. (Nasdaq: HOMB), announced today the completion of its acquisition of all of the banking locations of Premier Bank ("Premier"), a Florida state-chartered bank and wholly owned subsidiary of Premier Bank Holding Company ("PBHC"), pursuant to a previously announced purchase and assumption agreement, dated August 14, 2012, between Home BancShares, Centennial, PBHC and Premier. Upon the closing of the acquisition on December 1, 2012, Home BancShares purchased all of the issued and outstanding shares of common stock free and clear of all liens, claims and encumbrances and assumed no liabilities of PBHC.
At the time of the acquisition, Premier operated a total of 6 banking locations in the Tallahassee, FL and the surrounding area.
"Expanding our footprint in the Tallahassee area is an exciting opportunity," said John W. Allison, Chairman of Home BancShares. "With the addition of Premier, our branch footprint in the Florida Panhandle rises to 34 branch locations. We will continue to bring quality products and service to our customers and communities throughout this area," added Allison.
Until Centennial and Premier convert to a single operating system—anticipated to occur in the first half of