Home BancShares to Buy Florida Traditions for $43M

By Paul Davis April 18, 2014, 7:28 a.m. EDT 1 Min Read

Community banking

Liberty Bell Bank in N.J. Could Face Change in Control

An investor with a history of forming and selling banks has bought a large stake in Liberty Bell, a Philadelphia-area bank.

February 15
Community banking

Community Banker of the Year: Home BancShares' Johnny Allison

Though many banks have capitalized on the financial crisis, Home BancShares is a leader among that group. It scooped up seven failed banks in Florida and bought two more open, but deeply distressed, ones, a tally few can top.

By Robert Barba

November 21
M&A

Home BancShares Refuels in Arkansas, Plans Return to Florida

John W. Allison of Home BancShares was on the prowl for a deal in Florida when a "game-changer" came up in its home state of Arkansas. He sacrificed geographic diversification for a local moneymaker. Was it the right move for the long term?

By Robert Barba

July 3
Banking in Legoland

Home BancShares (HOMB) in Conway, Ark., has agreed to buy Florida Traditions Bank in Dade City, Fla.

The $6.8 billion-asset Home said in a press release late Thursday that it will pay $43 million stock for the $312 million-asset Florida Traditions. Home said it expects to complete the acquisition by early in the fourth quarter.

Florida Traditions also has eight branches in central Florida, along with $249 million in loans and $279 million in deposits. At one point, Kenneth Lehman, an individual who is making large investments in community banks, owned an 11% stake in the bank.

"We continue to execute on our very successful acquisition strategy in Florida and are happy to report another pending strategic in-market acquisition," John Allison, Home's chairman, said in the release. "We look forward to continuing to serve the needs of these communities."

For reprint and licensing requests for this article, click here.

Community banking

TRENDING

Failures

Republic First fails; Fulton Bank acquires assets, branches

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.

By Kyle Campbell

April 26
Politics and policy

Custodia to appeal ruling in Fed lawsuit

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.

By Kyle Campbell

April 26
CFPB

Former CFPB Director Richard Cordray resigns from Education Department

The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.

By Kate Berry

April 26

MORE FROM AMERICAN BANKER

Failures

Republic First fails; Fulton Bank acquires assets, branches

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.

By Kyle Campbell

April 26
Politics and policy

Custodia to appeal ruling in Fed lawsuit

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.

By Kyle Campbell

April 26
CFPB

Former CFPB Director Richard Cordray resigns from Education Department

The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.

By Kate Berry

April 26
Earnings

Cullen/Frost boosts loan growth forecast despite higher-for-longer rates

The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.

By Catherine Leffert

April 26
Industry News

Renasant taps insider as next CEO, Aspiration spins out new brand

Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.

By Editorial Staff

April 26
Earnings

Associated in Green Bay gathers lending momentum, boosts margin

The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.

By Jim Dobbs

April 26