HOME BANCSHARES BUYS 2ND BANK

Two weeks after buying a troubled Orlando, Florida-based financial institution, Home Bancshares is at it again.

The Conway-based parent company of Centennial Bank acquired Key West Bank in an FDIC-assisted transaction. Home Bancshares already has banking interests in the Florida Keys.

Two weeks ago, Home Bancshares acquired Orlando-based Old Southern Bank under similar circumstances.

Today’s transaction adds only one full-service location to Home Bancshares’ banking group in Florida. The company will also assume assets of $87.5 million and deposits of $67.7 million.

The FDIC will cover approximately $72.4 million in assets as part of the deal.