Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Home BancShares, Inc. (Click for buyer financial information)
Target:  Bank of Commerce and Certain Assets of Bank of Commerce Holdings Inc. (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 11/14/16   Announced Deal Value ($M) 3.7
Status Completed   Announced Deal Value Per Share ($) 3.05
Completion Date 2/28/17      
 
Deal Summary
Conway, Ark.-based Home BancShares Inc. unit Centennial Bank has acquired Sarasota, Fla.-based Bank of Commerce and certain other assets of Bank of Commerce Holdings Inc. Home BancShares Inc. will expand in Sarasota County, Fla., by two branches to be ranked No. 20 with a 1.24% share of approximately $13.20 billion in total market deposits and will enter Manatee County, Fla., with one branch to be ranked No. 23 with a 0.43% share of approximately $6.11 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 53.56 85.20
Price / Tangible Book (%) 53.56 85.20
Price / LTM EPS (x) NM NM
Price / Deposits (%) 2.46 2.64
Price / Assets (%) 1.92 2.05
Tang Book Premium / Core Deposits (%) (2.78) (0.62)


Deal Terms

Description of Consideration
Home BancShares Inc. has paid $3.05 per share in cash for each outstanding share of Bank of Commerce. Home BancShares Inc. has also acquired certain other assets of Bank of Commerce Holdings Inc.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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 ($M)   3.7
Common Stock ($M)   0
Common Shares Issued   0
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
 
Seller Yes Hovde Group LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
 
Seller Yes Nelson Mullins Riley

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