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Stock Market & Financial Investment News

News Breaks
July 30, 2014
09:47 EDTHOMBHome Bancshares, Broward Financial sign definitive agreement
Home BancShares, parent company of Centennial Bank and Broward Financial, parent company of Broward Bank of Commerce announced the signing of a definitive agreement for Home to acquire Broward. Under the terms of the agreement, Broward Bank will merge into Centennial and shareholders of Broward will receive proceeds from the transaction between $33.06M and $33.96M as a combination of both Home common stock and cash split 90% and 10%, respectively. This purchase price includes the conversion of currently outstanding Broward stock warrants into $3M of Broward common equity before closing. As a result, the purchase price is priced between 1.645 and 1.649 of pro forma tangible common equity as of June 30. Broward currently operates two banking locations in Fort Lauderdale, Florida. As of June 30, Broward had approximately $168.5M in total assets, $110.8M in loans, and $143.8M in deposits. The acquisition is expected to close in the fourth quarter of 2014 and is subject to shareholder approval, regulatory approvals, and other customary conditions.
News For HOMB From The Last 14 Days
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October 16, 2014
09:19 EDTHOMBHome Bancshares reports Q3 EPS 41c, consensus 45c
Reports Q3 revenue $94.23M, consensus $93.34M. Book value per common share was $14.42 at September 30. Reports Q3 NII $78.61M.

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