Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Home BancShares, Inc. (Click for buyer financial information)
Target:  Vision Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 11/16/11   Announced Deal Value ($M) 27.9
Status Completed   Announced Deal Value Per Share ($) NA
Completion Date 2/16/12      
 
Deal Summary
Conway, Ark.-based Home BancShares Inc. unit Centennial Bank has acquired certain assets and assumed deposits and other liabilities of Newark, Ohio.-based Park National Corp. unit Panama City, Fla.-based Vision Bank. Home BancShares Inc. entered Alabama with eight branches to be ranked No. 26 with a 0.43% share of approximately $84.22 billion in total market deposits and expanded in Florida by nine branches to be ranked No. 36 with a 0.35% share of approximately $411.53 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) NA NA
Price / Tangible Book (%) NA NA
Price / LTM EPS (x) NA NA
Price / Deposits (%) 5.22 5.34
Price / Assets (%) 6.92 7.09
Tang Book Premium / Core Deposits (%) NA NA


Deal Terms

Description of Consideration
Home BancShares Inc. paid approximately $27.9 million to acquire certain assets and deposit liabilities of Vision Bank. Approximately $283 million of Vision Bank assets will be retained and either distributed to Vision Bank shareholders or merged with and into SE Property Holdings LLC, a non-bank subsidiary of Park National Corp.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) NA
Merger of Equals? No   % of Shares Outstanding NA
Geographic Expansion? Partial Overlap   Shares Under Option NA
Goodwill Generated ($000) NA   Core Deposit Intangibles ($000) NA
Estimated Cost Savings (%) NA   Est. Restructuring Charges ($000) NA
Termination Fee ($000) NA  
         
Consideration Breakout
Cash ($M)   0
Common Stock ($M)   0
Common Shares Issued   0
Preferred Stock ($M)   0
Preferred Shares Issued   0
Debt ($M)   0
Other ($M)   27.9

Deal Advisers

Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes DD&F Consulting Group
 
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
 
Seller Yes Vorys Sater Seymour and Pease

© Copyright 2017, SNL Financial LC

Terms of Use