News

Liberty Bank sells to Centennial Bank, owned by Home Bancshares.

Home BancShares Inc. of Conway announced the signing of a definitive agreement worth $280 million for Liberty Bancshares Inc. of Jonesboro to merge into HOMB. Under the terms of agreement, shareholders of Liberty will receive $250 million of HOMB common stock plus $30 million in cash.

The price represents a multiple of 1.06 times actual shareholder equity and about 1.6 times book value when intangibles like goodwill are included.

The acquisition is expected to close late in the third quarter or early in the fourth quarter of 2013 and is subject to Home and Liberty shareholder approval, regulatory approval, and other conditions set forth in the merger agreement.

The announcement was made Tuesday afternoon in downtown Little Rock. Jonesboro Radio Group General Manager Trey Stafford was LIVE in Little Rock along with KAIT’s GM Tracey Rogers.

Listen below as Tracey and Trey weigh in on the breaking news story…

Liberty has a staff of 632 and operates a branch network of 42 full-service locations in Arkansas. The company recorded a profit of $6.1 million during the first quarter of 2013.

Centennial operates a full-service branch network with 51 locations in Florida, 46 locations in Arkansas and seven in Alabama with a companywide staff of 895. The bank reported net income of $18.1 million during the first quarter.

Read more on this story on the KAIT website

Recent Headlines

in Entertainment, Viral Videos

WATCH: ‘Star Wars’ awakens force with teaser trailer

17-overlay2

"There has been an awakening. Have you felt it?"

in Music

This week’s top country tracks

frankieballard

LISTEN: This week's top country tracks, according to the latest Billboard chart.

in Black Friday, Entertainment

‘Frozen’ tops Barbie as top girls’ holiday pick

frozen

The results marked the first time in 11 years that Barbie hasn't held the No. 1 spot in the annual toy survey.

in Black Friday, Viral Videos

Black Friday facts that will make you think twice

22-overlay2

Before you wait in line for doorbuster deals, check out these Black Friday facts.

in Trending, Viral Videos

TODAY’S MUST SEE: ‘Friends of the Galaxy’ mashup

24-overlay2

If "Guardians of the Galaxy" was set to the "Friends" theme.