Bank of the Ozarks, HomeTrust, Others Close Deals

Bank of the Ozarks (OZRK), HomeTrust Bancshares (HTBI), Glacier Bancorp (GCBI) and Central Valley Community Bancorp (CVCY) all announced deal completions Wednesday.

The $4 billion-asset Bank of the Ozarks in Little Rock, Ark., has acquired First National Bank of Shelby in North Carolina for $68.5 million in cash and stock. The deal, which was announced in January, gave Bank of the Ozarks an additional 14 branches, all in North Carolina, and $857 million in assets.

Bank of the Ozarks named Helen Jeffords head of banking operations for the newly acquired branches. Jeffords has been with First National Bank of Shelby for 30 years, the company said in a press release.

HomeTrust, based in Asheville, N.C., closed its acquisition of BankGreenville Financial Corp in South Carolina on Wednesday, it announced. The $7.8 million deal, which was announced in May, gave the $1.6 billion-asset HomeTrust its first branch outside its home state and approximately $105 million in assets.

Glacier Bancorp in Kalispell, Mont., closed its acquisition of North Cascades Bancshares in Chelan, Wash., on Wednesday. The $29 million transaction added $330 million to Glacier's assets, pushing it to nearly $7.9 billion.

Central Valley Community Bancorp in Fresno, Calif., closed its $22 million acquisition of Visalia Community Bank in Visalia, Calif., on Monday. The deal, which the companies agreed to in December, added $200 million to Central Valley's asset base, pushing it to approximately $1 billion.

Central Valley also announced that Tom Beene, formerly Visalia's president and chief executive, has been named a regional executive of the combined company, and that F.T. Elliot, formerly Visalia's chairman, has been added to Central Valley's board.

Also on Wednesday, the shareholders of Commerce National Bank (CNBF) in Newport Beach, Calif., approved its $42.9 million agreement with Sterling Financial (STSA) in Spokane, Wash. The acquisition, which was announced in May, would give the $9.3 billion-asset Sterling an additional $236 million in assets and one branch.

The deal must be approved by regulators, and the companies expect it to close in the fourth quarter, they said.