Home Bancshares Eyeing Eighth Florida Bank

Is eight enough? Probably not.

Centennial Bank, the wholly-owned subsidiary of Conway-based Home BancShares, Inc., entered into an agreement with Premier Bank Holding Company of Florida.

Terms of the deal were not fully released and the transaction must meet regulatory conditions and court approval.

Under the deal, Centennial Bank has agreed to purchase all of the issued and outstanding shares of common stock of Premier Bank, a Florida state-chartered bank that operates in the Tallahassee, Florida area. Centennial Bank plans to acquire six new locations in Tallahassee and the surrounding area.

“We are excited about the opportunity to expand our footprint in the Tallahassee area,” said John W. Allison, Chairman of Home BancShares. “This is a great fit and allows us to provide expanded service to our current customers. If approved, Premier customers will now have access to 28 Centennial locations throughout the Florida Panhandle.”

The closing of the acquisition is expected to occur in fourth quarter of 2012 and is subject to a court-approved final sale order relating to the acquired assets.

Home Bancshares has previously bought 7 Florida bank operations in the past three years.