Centennial Bank Submits Plans for Midtown Branch in NYC

Centennial Bank Submits Plans for Midtown Branch in NYC
Tower 49 in New York City.

Remember back in the spring when Centennial Bank of Conway bought a big portfolio of commercial loans? The accompanying plans for a commercial loan operation housed in New York are continuing to develop.

Last week the bank, owned by publicly traded Home BancShares Inc., submitted an application with the Arkansas State Bank Commission for a full-service branch on the 12th floor of a 45-story building at 12 E. 49th St. between Madison and Fifth avenues.

Pretty hip: The building is called Tower 49.

The branch will replace a loan production office that has been the home to the Centennial Commercial Finance Group, which was formed when Centennial bought $289 million in national commercial real estate loans from J.C. Flowers & Co. LLC.

The loans originated within the former Doral Property Finance portfolio, which was part of Doral Bank of San Juan, Puerto Rico.

The bank failed in February, and Home Bancshares acquired the bank’s assets and deposits in the Florida Panhandle as part of a deal assisted by the Federal Deposit Insurance Corp.

Chris Poulton, one of two former Doral executives that Centennial hired at the time, is president of Centennial CFG.