By  John Reosti April 16, 2021, 1:06 p.m. EDT
3 Min Read
Home BancShares in Conway, Ark., could soon end a four-year hiatus from bank acquisitions. The $17.2 billion-asset company is working on three potential acquisitions that could happen at any time, Johnny Allison, its chairman, president and CEO, said Thursday. "We're working on one as we speak, and we'll see that will resolve itself in the next two or three weeks,” Allison said during an earnings conference call. “And then we'll move to the next one and the next one." Home, a serial acquirer after the 2008 financial crisis, hasn’t completed a bank acquisition since it bought the $2.9 billion-asset Stonegate Bank in Florida in 2017 . At the time, Allison called Stonegate his “dream deal” — it was also the biggest acquisition in Home’s history. Home BancShares is comfortable buying a bank with up to $10 billion of assets, says Chairman and CEO Johnny Allison. While Home is largely interested in deals for banks the size of Stonegate, Allison said it could pursue something bigger. The company is open to in-market deals in Arkansas and Florida or banks that would expand its footprint into Texas or the Carolinas. "We're primarily sticking with the smaller, $2 billion … to $4 billion at this point," Allison said, though Home is “not afraid to do a $10 billion deal if we understand their asset classes." Despite pressures from the pandemic, Home still finds some banks holding firm on pricing expectations. "We've taken a couple off the table because they weren't realistic and the bankers were really — I don't know if they bumped their head or what they did," Allison said. "They were somewhat unrealistic." Acquisitions “would be the best use of capital near term,” Stephen Scouten, an analyst at Piper Sandler, wrote in a Thursday client note. Florida — home to half of the company’s branches — makes sense, given the state’s “favorable demographics and economic backdrop and cost-saves potential,” Will Curtiss, an analyst at Hovde Group, wrote in a Friday research note. A big push for deals comes as Home’s loan portfolio is shrinking. Total loans decreased by 3.6% in the first quarter from the end of last year, to $10.8 billion. Most of the decline was tied to multifamily loans, which shrank by 30%, and commercial loans, where balances fell by 5%. Home also reported about $800 million of paydowns in the first quarter. Home is holding nearly $2.4 billion of cash on its balance sheet, and Allison said he is in no hurry to invest the funding until he has a better sense of where the economy is headed. “Our bet is to sit on this [cash] as tight as we can sit on it,” Allison said, adding that longer-term, fixed-rate loans and securities are “absolutely too dangerous for us.”
A big concern for Allison is inflation, which he warned “may already be out of control” due to the liquidity created by aggressive stimulus programs designed to soften the blows from the coronavirus pandemic. “Have you bought any gasoline lately,” Allison said. “It’s up 80 cents a gallon. Food is straight up. Lumber went from $300 per 1,000 board feet to $1,050. That’s a 350% increase in the cost of lumber.”
Home’s profit still increased by 12% from a quarter earlier to $91.6 million. The first quarter of 2020 was skewed by a $95 million loan-loss provision after the company adopted the Current Expected Credit Loss standard and set aside funds to cover potential losses from the pandemic. Revenue rose by 6% from the fourth quarter and 19% from a year earlier to $193.4 million. Allison also said the company is starting to see a pickup in loan demand. “Last quarter, I said I thought loan growth would come in the second half of the year,” he said. “It may be coming a bit sooner than I expected.”
The company could generate 2% loan growth over the second half of 2021, Curtiss said. “The ability to deliver organic growth in the coming quarters —even if only a modest amount —represents the biggest catalyst for shares in the near term,” Curtiss added.

Home BancShares is ready to buy banks again

Home BancShares closes acquisition of Stonegate Bank
Published 27 September 2017
Home BancShares, the parent company of Centennial Bank, said that its previously announced definitive agreement and plan of merger to acquire Stonegate Bank and its issuance of Home common stock to the shareholders of Stonegate in connection with the acquisition were approved by the shareholders of Stonegate and Home, respectively. Pursuant to the terms of a previously announced definitive agreement and plan of merger, Stonegate will merge with and into Centennial effective at the close of business today, September 26, 2017. As of June 30, 2017, Stonegate had approximately $3.13 billion in total assets, $2.44 billion in loans, and $2.62 billion in deposits. With the completion of the acquisition, the Company now operates 76 branches in Arkansas, 89 branches in Florida, six branches in South Alabama and one branch in New York City. “The completion of the acquisition of Stonegate is a pivotal moment for Home and our Florida footprint; and is another example of our ability to make smart, strategic deals that are immediately accretive to diluted earnings per share, book value and tangible book value,” said John Allison, Chairman of Home. “The combination of Home and Stonegate’s parallel strengths creates an outstanding financial institution with experienced local leadership and talented associates who are ready to serve our valued customers and communities throughout our business footprint. Like our previous mergers, the merger of Stonegate provides added shareholder value on day one while increasing our market share in Florida.”
Dave Seleski, Stonegate’s President & CEO, added, “Stonegate shareholders, employees and customers will benefit from the opportunities provided from these two very high performing franchises coming together. Our customers will gain access to an expanded range of products, backed by a proven history of strong financial performance, while continuing to experience the highest quality of customer service they have grown accustomed to.”
“Centennial Bank welcomes the customers and talented team of bankers of Stonegate and looks forward to the added value this merger will bring to our franchise in Florida,” said Tracy French, President and Chief Executive Officer of Centennial Bank. “It’s business as usual at all Home and Stonegate branches, with the immediate benefit of access to 89 branch locations across Florida for customers of both banks. We expect the integration of Stonegate to be very smooth as the Centennial and Stonegate conversion teams have been working closely together to prepare for the systems integration and conversion process since signing of the definitive agreement.”   
Under the terms of the agreement, Home will issue approximately 30,864,029 shares of its common stock valued at approximately $742.3 million as of September 26, 2017, plus approximately $50.1 million in cash in exchange for all outstanding shares of Stonegate common stock. In addition, the holders of outstanding stock options of Stonegate received approximately $27.6 million in cash in cancellation of their options immediately before the merger, for a total transaction value of approximately $820.0 million. DD&F Consulting Group served as financial advisor and Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C. served as legal counsel to Home. Keefe, Bruyette & Woods, Inc. served as financial advisor and Squire Patton Boggs (US) LLP served as legal counsel to Stonegate. Also, RBC Capital Markets, LLC issued a fairness opinion to Home and Hovde Group, LLC issued a fairness opinion to Stonegate. Source: Company Press Release

Home BancShares closes acquisition of Stonegate Bank

November 17, 2017 08:00
ET | Source: Cuba Ventures Corp.
VANCOUVER, British Columbia, Nov.  17, 2017  (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V: CUV ) (Frankfurt: IJA2 ) (OTCBB: MPSFF ) (the “Company”) announces it has identified a Cryptocurrency Data mining center for its primary data mining effort located in the Bahamas. The privately held datacenter with the USA derived IT fiber backbone is ideal for the company’s Blockchain and Cryptocurrency deployment. CEO Steve Marshall meets with CEO of Stonegate Bank, one of only two financial institutions authorized to transact with the Republic of Cuba. Cuba Ventures resumes trading on the Frankfurt Stock Exchange under symbol IJA2 .FRA. Cuba Ventures Corp. identifies Cryptocurrency Data mining center in the Bahamas
Cuba Ventures Corp. has identified a privately held carrier grade commercial data center located in the Bahamas with redundant 10 Gbit fiber optic connections to Tier-1 internet backbones in North America. The facility is staffed, monitored and protected 24/7 with the latest in network monitoring and security technologies. The facility is ideal as a primary data mining center for the blockchain powered Revolupay Remittance system and the CCU Coin cryptocurrency. Cuba Ventures management has both known and worked with the ISP in the past and expects to arrive at a mutually agreeable partnership shortly. CEO of Stonegate Bank USA meets with company’s CEO Steve Marshall
In October 2017, CEO and President of Nasdaq listed Stonegate Bank, Dave Seleski and Steve Marshall, CEO of Toronto TSX listed Cuba Ventures Corp met at the USA based bank headquarters in Pompano Beach, Florida. Stonegate Bank is the only United States financial institution authorized to operate with Cuba. Discussions centered around the CubaFin lending platform, Revolupay Block chain powered remittance app and, CCUCoin cryptocurrency. Cuba Ventures resumes trading on the Frankfurt Exchange under symbol IJA2 .FRA
Catering to the heightened interest from European investors, motivated by various recent synergies with European entities such as Vesilen Investments and Bhavnani Corp, Cuba Ventures Corp has resumed trading on the Frankfurt Stock Exchange under symbol IJA2.FRA. Steve Marshall and Alfredo Manresa of Cuba Ventures Corp. attend Blockchain Conference in Vancouver
Held on November 15th at the Pinnacle Hotel Vancouver, the “Banking on Blockchain” conference united various blockchain leaders from Canada and the United States. The company’s CEO and FinTech Division director met with numerous blockchain sector entities to discus Revolupay, and the CCU Coin Cryptocurrency set to be launched by Cuba Ventures Corp in 2018. Steve Marshall, CEO of Cuba Ventures Corp presents at the Vancouver Club
On November 16th, 2017, Steve Marshall presented the company’s current and future projects to a group of investors, brokers and venture capital companies at the famous Vancouver Club. Mr. Marshall covered the upcoming launch of the blockchain powered Revolupay & CCU Coin cryptocurrency while updating the invitees on the company’s achievements over the past 12 months and goals for 2018. CEO of Cuba Ventures Corp featured by Business in Vancouver’s Roundhouse Radio 98.3 Vancouver. Mr. Marshall was interviewed by Business in Vancouver on Roundhouse Radio 98.3 on 17th November 2017. Talking points were Cuba’s $86 billion annual GDP, the Revolupay Blockchain based remittance app and the nascent $750 million private business sector in Cuba. About Cuba Ventures Corp.:
Cuba Ventures Corp. is a publicly traded Canadian company capitalizing on the growth and unique opportunities in the USD 3.5 billion per year Cuban travel and tourism industry. Travelucion, a wholly owned subsidiary, is a digital media and marketing company which owns a vast portfolio of Cuba related websites and online portals providing Cuba travel information in up to six languages, featuring individual web assets for Cuba's popular cities and towns, online booking solutions and online reservations through proprietary software, catering to international visitors to Cuba. Travelucion's online travel division is a duly licensed retail travel supplier handling millions of dollars in sales annually. Cuba Ventures Corp. has acquired an equity interest in a Florida, the USA domiciled, licensed and bonded travel agency which specializes in travel to Cuba. This equity ownership permits the company and, its subsidiary Travelucion, to promote U.S compliant travel packages to Americans citizens through its equity partner International Business & Travel Opportunities, LLC, Fort Lauderdale, Florida, USA. Travelucion's 432 Cuba focused multilingual websites generate over 35 million page-views per year, directing traffic to the company's online booking and e-commerce sites. These online websites cover all facets of Cuba including over 80 travel destinations, hotels & resorts, bed & breakfast, tours, car rentals, restaurants, as well as Cuban culture, history, music, celebrities, sports, medical treatments and more. Cuba Ventures FinTech division is embracing world renowned entities to bring together a global force to stimulate Cuba’s archaic economic systems. Financing of both internal and external debt, ₡CU Coin Cryptocurrency and Revolupay® blockchain deployment - across the all important private enterprises and remittance industry are primary objectives of this division. Finally, bridge loans for foreign enterprises who receive Cuban bank payment instruments will enable faster transactions and rapid advances in the economy. Cuba Ventures consulting division harnesses over 80 years of combined advisor experience in submitting and, obtaining approval, for joint ventures, joint production agreements, and import/export permits for foreign enterprises. More recently the company has taken a royalty approach for future agreements between third parties anxious to begin commercial operations with Cuba and, the company’s Cuba Consulting Unit. Current contractual partnerships include Tyrval, a worldwide hotel industry supplier. Cuba Ventures intends to augment the amount of financially beneficial consulting related businesses. For further information on Cuba Ventures Corp. (TSX-V: CUV ) or Travelucion visit the Company’s website at www.cubaventures.com or www.travelucion.com . The Company has 83,298,850 shares issued and outstanding. CUBA VENTURES CORP. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Cuba Ventures Corp. Blockchain Revolupay identifies CCU Coin Cryptocurrency Data mining center in the Bahamas for possible synergy. CEO Steve Marshall meets with CEO of Stonegate Bank USA.

September 26, 2017 17:00
ET | Source: Home BancShares, Inc.
CONWAY, Ark., Sept.  26, 2017  (GLOBE NEWSWIRE) -- Home BancShares, Inc. (Nasdaq: HOMB ) (“Home” or “the Company”), parent company of Centennial Bank (“Centennial”), today announced that its previously announced definitive agreement and plan of merger to acquire Stonegate Bank (NASDAQ: SGBK ) (“Stonegate”), dated March 27, 2017 (the “Merger Agreement”), and its issuance of Home common stock to the shareholders of Stonegate in connection with the acquisition were approved by the shareholders of Stonegate and Home, respectively, at separate shareholder meetings held on September 25, 2017. Pursuant to the terms of a previously announced definitive agreement and plan of merger, Stonegate will merge with and into Centennial effective at the close of business today, September 26, 2017. As of June 30, 2017, Stonegate had approximately $3.13 billion in total assets, $2.44 billion in loans, and $2.62 billion in deposits. With the completion of the acquisition, the Company now operates 76 branches in Arkansas, 89 branches in Florida, six branches in South Alabama and one branch in New York City. “The completion of the acquisition of Stonegate is a pivotal moment for Home and our Florida footprint; and is another example of our ability to make smart, strategic deals that are immediately accretive to diluted earnings per share, book value and tangible book value,” said John Allison, Chairman of Home. “The combination of Home and Stonegate’s parallel strengths creates an outstanding financial institution with experienced local leadership and talented associates who are ready to serve our valued customers and communities throughout our business footprint. Like our previous mergers, the merger of Stonegate provides added shareholder value on day one while increasing our market share in Florida.”
Dave Seleski, Stonegate’s President & CEO, added, “Stonegate shareholders, employees and customers will benefit from the opportunities provided from these two very high performing franchises coming together. Our customers will gain access to an expanded range of products, backed by a proven history of strong financial performance, while continuing to experience the highest quality of customer service they have grown accustomed to.”
“Centennial Bank welcomes the customers and talented team of bankers of Stonegate and looks forward to the added value this merger will bring to our franchise in Florida,” said Tracy French, President and Chief Executive Officer of Centennial Bank. “It’s business as usual at all Home and Stonegate branches, with the immediate benefit of access to 89 branch locations across Florida for customers of both banks. We expect the integration of Stonegate to be very smooth as the Centennial and Stonegate conversion teams have been working closely together to prepare for the systems integration and conversion process since signing of the definitive agreement.”   
Under the terms of the agreement, Home will issue approximately 30,864,029 shares of its common stock valued at approximately $742.3 million as of September 26, 2017, plus approximately $50.1 million in cash in exchange for all outstanding shares of Stonegate common stock. In addition, the holders of outstanding stock options of Stonegate received approximately $27.6 million in cash in cancellation of their options immediately before the merger, for a total transaction value of approximately $820.0 million. DD&F Consulting Group served as financial advisor and Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C. served as legal counsel to Home. Keefe, Bruyette & Woods, Inc. served as financial advisor and Squire Patton Boggs (US) LLP served as legal counsel to Stonegate. Also, RBC Capital Markets, LLC issued a fairness opinion to Home and Hovde Group, LLC issued a fairness opinion to Stonegate. General
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its 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 branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”
This release contains forward-looking statements which include, but are not limited to, statements about the benefits of the business combination transaction involving Home and Stonegate, including the combined company’s future financial and operating results, plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions. By nature, forward-looking statements involve inherent risk and uncertainties. Investors and security holders are cautioned not to place undue reliance on these statements, which speak only as of the date of this news release. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements, including, but not limited to, (i) the risk that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Home and Stonegate operate; (ii) the ability to promptly and effectively integrate the businesses of Home and Stonegate; (iii) the reaction to the transaction of the companies’ customers, employees and counterparties; (iv) the outcome of pending or threatened litigation, or of matters before regulatory agencies, whether currently existing or commencing in the future, including litigation related to the merger; and (v) diversion of management time on acquisition-related issues. Additional information on factors that might affect Home BancShares, Inc.'s financial results is included in its Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on February 28, 2017. FOR MORE INFORMATION CONTACT:

Home BancShares, Inc. Announces Completion of the Acquisition of Stonegate Bank

September 11, 2017 13:32
ET | Source: Stonegate Bank
POMPANO BEACH, Fla., Sept.  11, 2017  (GLOBE NEWSWIRE) -- Stonegate Bank (Nasdaq: SGBK ) will open all east coast offices with power and communication systems on Tuesday, September 12, 2017. We will begin to inspect our west coast offices for any damage as soon as it is safe to do so and will open those offices as quickly as we can. Our primary concerns are for the affected communities, our employees and customers. We have initiated a toll-free number, 844-635-2444, which will provide our customers with information regarding the offices which will be opened. Many of our offices have generators and therefore, as long as we have communications, can effectively serve you and assist with any needs you have. We have weathered the storm together and our proud to be a part of your Florida family. About Stonegate
Stonegate Bank is a full-service commercial bank, providing a wide range of business and consumer financial products and services through its 24 banking offices in its target marketplace of South and West Florida, which is comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in Florida. As of June 30, 2017, Stonegate Bank had $3.1 billion in assets and $2.6 billion in deposits. Stonegate Bank’s principal executive office and mailing address is 400 North Federal Highway, Pompano Beach, Florida 33062 and its telephone number is (954) 315-5500. INVESTOR RELATIONS:

Stonegate Bank Will Open East Coast Offices September 12, 2017

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Stonegate Bank provides banking services to customers and provides services and financial products to professional associations, business owners and executives.

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Home BancShares

Name	Russell Burnette
Work History	SunTrust Banks, and Bank Leumi
Title	Senior Vice President
Status	Former

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