Mergers and Acquisitions
Transaction Details
DD&F CONSULTING GROUP 
Deal Overview
Buyer:  Home BancShares, Inc. (Click for buyer financial information)
Target:  Stonegate Bank (Click for target financial information)
Deal Type:  Bank & Thrift Company
Announcement Date 3/27/17   Announced Deal Value ($M) 779.7
Status Pending   Announced Deal Value Per Share ($) 49.00
 
Deal Summary
Conway, Ark.-based Home BancShares Inc. unit Centennial Bank has agreed to acquire Pompano Beach, Fla.-based Stonegate Bank. Home BancShares Inc. will expand in Florida by 29 branches to be ranked No. 17 with a 1.04% share of approximately $540.56 billion in total market deposits.

Deal Pricing Ratios
  Announcement Completion
Price / Book (%) 196.83 NA
Price / Tangible Book (%) 240.63 NA
Price / LTM EPS (x) 22.90 NA
Price / Deposits (%) 31.85 NA
Price / Assets (%) 26.87 NA
Tang Book Premium / Core Deposits (%) 21.05 NA


Deal Terms

Description of Consideration
Home BancShares Inc. will pay $49 per share in cash and stock to acquire each outstanding shares of Stonegate Bank. Exchange ratio is subject to adjustment based on Home BancShares Inc.'s closing price within a $22.52-$35.19 cap/floor.
Accounting Method NA   Lockup Agreement No
In-State Transaction? No   Strike Price ($) 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 ($M)   50.0
Common Stock ($M)   699.7
Common Shares Issued   NA
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
RBC Capital Markets LLC
 
Seller Yes Hovde Group LLC
Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Mitchell Williams Selig Gates
 
Seller Yes Squire Sanders (US)

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