Listen Live

News

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

13 years ago in


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

Tags:

Story © 2013 - Images © 2013

This Week in Jonesboro

Recent Headlines

7 hours ago in Lifestyle, Trending

Make no bones about it, the giant skeleton has become an American Halloween fixture

It reared its bony head in 2020, during that first, chaotic pandemic year that was rife with grief and fear but also toilet paper hoarding and questionable lockdown-inspired purchases. Behold Skelly, the 12-foot, 90-pound skeleton with glowing LCD eyeballs, on sale for $299 from Home Depot, just in time for Halloween — at least, if you can get your hands on one.

7 hours ago in Entertainment, Trending

Patrick Stewart, legendary actor of ‘Star Trek’ and ‘X-Men’ fame, dies at 86

Patrick Stewart, the classically trained actor who added Shakespearean gravitas to the "Star Trek" and "X-Men" franchises, has died. He was 86. Stewart died Wednesday in Los Angeles, following "a brief and poignant journey" with Alzheimer's disease and Lewy Body Dementia, spokesperson Kelly Bush Novak said.

14 hours ago in Entertainment

Hometown of ‘Addams Family’ creator becomes ghoulish Halloween destination

Before there was "The Addams Family," there was Westfield. Cartoonist Charles Addams, who created the eccentric, fictional family, drew inspiration for his signature macabre style from the elegant Victorian homes, historic cemetery and other landmarks of his New Jersey hometown.

15 hours ago in Sports, Trending

Brewers beat the Rays 4-1 in Game 5 to win the first World Series title in franchise history

The small-ball Milwaukee Brewers playing in the smallest market in the majors are World Series champions for the first time. Hey, Milwaukee: grab a brat, raise a beer and prepare for that parade.

15 hours ago in Entertainment

South Carolina police close investigation into Hayden Panettiere’s death after coroner’s ruling

Police in South Carolina have closed their investigation into the overdose death of actor Hayden Panettiere following a coroner's finding that it was accidental. The decision was based on the medical examiner's determination as well as the findings of the investigation, Greenville police said Wednesday in a statement.