In 1998, an investor group led by John W. Allison, our Chairman, and Robert H. "Bunny" Adcock, Jr., our Vice Chairman formed Home BancShares, Inc. headquartered in Conway, Arkansas. After obtaining a bank charter, we established First State Bank in Conway, Arkansas, in 1999. We acquired Community Bank, Bank of Mountain View and Centennial Bank in 2003, 2005 and 2008, respectively. Home BancShares and its founders were also involved in the formation of Twin City Bank and Marine Bank, both of which we acquired in 2005.
In 2009, we completed the combination of our bank charters into one charter. The name the bank now commonly holds is Centennial Bank.
In 2010, we acquired the banking operations of Old Southern Bank, Key West Bank, Coastal Community Bank, Bayside Savings Bank, Wakulla Bank and Gulf State Community Bank through loss-sharing agreements with the Federal Deposit Insurance Corporation.
In 2012, we acquired three banks headquartered in Florida including Vision Bank, Premier Bank and Heritage Bank of Florida. Heritage Bank of Florida was acquired through a Federal Deposit Insurance Corporation assisted transaction without loss share.
In 2013, we acquired Liberty Bancshares, Inc., parent company of Liberty Bank of Arkansas. We issued 8,763,930 shares of common stock valued at approximately $290.1 million as of October 23, 2013, plus $30.0 million in cash in exchange for all outstanding shares of Liberty Bancshares, Inc. common stock. This merger significantly increased our deposit market share in Arkansas.
In 2014, we acquired Florida Traditions Bank located in Central Florida. We issued 1,316,072 shares of common stock valued at approximately $39.5 million as of July 17, 2014 in exchange for all outstanding shares of Florida Traditions Bank common stock.
In 2014, we acquired Broward Financial Holdings, Inc. (“BFHI”), parent company of Broward Bank of Commerce located in South Florida. We issued 1,020,824 shares of its common stock valued at approximately $29.8 million as of October 23, 2014 plus approximately $3.3 million in cash in exchange for all outstanding shares of BFHI common stock.
In February 2015, we acquired all the deposits and substantially all the assets of Doral Bank's Florida Panhandle operations through an alliance agreement with Banco Popular of Puerto Rico who was the successful lead bidder with the FDIC on the failed Doral Bank of San Juan, Puerto Rico. The acquisition provided the Company with loans of approximately $37.9 million net of $4.3 million of loan discounts, deposits of approximately $466.3 million, plus a $428.2 million cash settlement to balance the transaction. There is no loss-share with the FDIC in the acquired assets.
In April 2015, we acquired a pool of national commercial real estate loans totaling approximately $289.1 million for a purchase price of 99% of the total principal value of the acquired loans. The acquired pool of loans were originated by the former Doral Bank within its Doral Property Finance portfolio. This pool of loans is now housed in a division of Centennial Bank known as the Centennial Commercial Finance Group (“Centennial CFG”), which is responsible for servicing the acquired loan pool and originating new loan production. The Company subsequently opened a loan production office in New York City where the Centennial CFG plans to build out a national lending platform focusing on commercial real estate plus commercial and industrial loans.
In October 2015, we acquired Florida Business BancGroup, Inc. (“FBBI”), parent company of Bay Cities Bank (“Bay Cities”). The Company paid a purchase price to the FBBI shareholders of $104.1 million for the FBBI acquisition. The Company issued approximately 2,080,000 shares of its common stock valued at approximately $83.8 million as of October 1, 2015 plus approximately $20.3 million in cash in exchange for all outstanding shares of FBBI common stock.
Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in Arkansas, Florida, South Alabama and a loan production office in New York City.
We acquire, organize and invest in community banks that serve attractive markets. Our community banking team is built around experienced bankers with strong local relationships.
The Company's common stock is traded through the NASDAQ Global Select Market under the symbol "HOMB."
We are located throughout the Florida Keys, Panhandle, southwest and central Florida plus Arkansas. We pride ourselves on excellent customer service, convenience to our account holders and taking care of the communities in which we operate.