Home BancShares Declares Extra Dividend, Completes $1.4 Million Premier Bank Deal

by Lance Turner  on Saturday, Dec. 1, 2012 9:30 am  

Home BancShares Inc. of Conway on Friday declared an extra quarterly dividend to shareholders, and on Saturday announced that it had completed a $1.4 million purchase of Premier Bank Holding Co. of Tallahassee, Fla., a deal first announced in August.

On Friday, the company, which owns Centennianl Bank, declared a cash dividend of 13 cents per share, payable Dec. 31 to shareholders of record as of Dec. 17. The dividend is in addition to the company's previously declared regular quarterly cash dividend, set to be paid on Wednesday.

The company (Nasdaq: HOMBsaid the extra dividend comes as "a result of the likelihood of increased tax rates on dividends in 2013." The company said it was evaluating whether the dividend will be a special, one-time cash dividend or a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013.

"By taking this action before year end 2012, we can guarantee our shareholders benefit from the lowest possible dividend tax rates," John Allison, chairman, said in a news release.

On Saturday, the company announced that it had completed its deal to buy Premier, which has a staff of 70 and six locations in Tallahassee and one in Quincy, Fla.

Premier Bank recorded total assets of $282 million and a loss of $579,000, as of June 30. The bank reported a $10.3 million loss during 2011, with year-end total assets of $296 million. 



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