Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Home BancShares, Inc. (Click for buyer financial information)
Target:  Florida Traditions Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 4/17/14   Announced Deal Value ($M) 43.0
Status Completed   Announced Deal Value Per Share ($) 16.78
Completion Date 7/17/14      
 
Deal Summary
Conway, Ark.-based Home BancShares Inc. unit Centennial Bank has acquired Dade City, Fla.-based Florida Traditions Bank. Home BancShares Inc. will expand in Florida, by eight branches to be ranked No. 32 with a 0.38% share of approximately $441.11 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 146.27 134.75
Price / Tangible Book (%) 146.27 134.75
Price / LTM EPS (x) 14.04 13.11
Price / Deposits (%) 15.47 15.00
Price / Assets (%) 13.77 13.31
Tang Book Premium / Core Deposits (%) 5.89 4.60


Deal Terms

Description of Consideration
Home BancShares Inc. issued 1,316,072 shares of its common stock to acquire Florida Traditions Bank. Consideration was subject to adjustments based on Home BancShares Inc. closing price within a $29.75-$40.25 cap/collar.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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) 3,772
Termination Fee ($000) NA  
         
Consideration Breakout
Cash ($M)   0
Common Stock ($M)   40.9
Common Shares Issued   1,316,072
Preferred Stock ($M)   0
Preferred Shares Issued   0
Debt ($M)   0
Other ($M)   0

Deal Advisers

Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes DD&F Consulting Group
Wunderlich Securities Inc.
 
Seller Yes Monroe Financial Partners Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
 
Seller Yes Smith Mackinnon PA

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