Today's Stock Snapshot (HOMB)
- 31.90 +1.27
Home BancShares Inc.
Home BancShares Inc. of Conway is the holding company for Centennial Bank, which offers commercial and retail banking operations in Arkansas, Florida and Alabama. It is led by John W. Allison, its chairman and a long-time fixture of the Arkansas banking community.
Allison and an investor group including Robert H. "Bunny" Adcock Jr. formed Home BancShares in 1998. The company established First State Bank in Conway in 1999, and spent the next nine years forming, buying and integrating Community Bank, Bank of Mountain View, Twin City Bank, Marine Bank and Centennial Bank.
In 2009, the company completed a year-long plan to collapse six bank charters - five in Arkansas and one in Florida - into a single charter and unite its banking operations under the Centennial name.
Beginning that same year, Home BancShares began expanding operations into Florida and Alabama with a string of FDIC-assisted acquisitions. Allison called the chance for Arkansas banks to snap up failing banks hundreds of miles away a "generational opportunity.” The company reported full-year 2011 net income of $54 million.
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