Tuesday, November 30, 2021

Home BancShares, Inc. and Centennial Bank Announce Agreement to Acquire Vision Bank Branch Locations

Centennial Bank, a wholly-owned subsidiary of Home BancShares, Inc. (NASDAQ GS:  HOMB), announced today the signing of a definitive  agreement to acquire all of the banking locations of Vision Bank (“Vision”), a wholly owned subsidiary of the publicly traded Park National Corporation (“Park”), ticker  symbol PRK. Vision’s main office is located in Panama City, Florida.  This is a strategic expansion for Home BancShares and Centennial Bank by acquiring 17 convenient bank locations in the Gulf Coast communities of Baldwin County, Alabama, and the Florida Panhandle.  Centennial Bank plans to purchase only the banking locations, along with the majority of the performing loans and related other assets. Substantially all of the deposits and related other liabilities will also be assumed by Centennial. Vision will retain the remaining performing loans, along with all non-performing loans and other real estate owned at closing. Centennial expects to obtain performing loans of approximately $378.6 million and approximately $535.0 million of deposits.

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