Home BancShares to Acquire Community Bancorporation for $1 Billion
Ticker: HOMB · Form: 8-K · Filed: Jul 17, 2024 · CIK: 1331520
Sentiment: neutral
Topics: acquisition, merger, financials
Related Tickers: HOMB
TL;DR
HOME buying Community Bancorporation for $1B ($400M cash, stock) - closing Q1 2025.
AI Summary
Home BancShares Inc. announced on July 17, 2024, that it has entered into a definitive agreement to acquire Huguley, Texas-based Community Bancorporation, Inc. The transaction is valued at approximately $1.0 billion, consisting of $400 million in cash and 15.4 million shares of Home BancShares common stock. This acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This significant acquisition by Home BancShares Inc. expands its market presence and financial capacity, potentially impacting its competitive position in the banking sector.
Risk Assessment
Risk Level: medium — The acquisition involves a substantial dollar amount and stock component, introducing integration risks and market reception uncertainties.
Key Numbers
- $1.0B — Acquisition Value (Total consideration for Community Bancorporation, Inc.)
- $400M — Cash Component (Part of the total transaction value paid in cash.)
- 15.4M shares — Stock Component (Part of the total transaction value paid in Home BancShares common stock.)
Key Players & Entities
- Home BancShares Inc. (company) — Acquiring company
- Community Bancorporation, Inc. (company) — Target company
- $1.0 billion (dollar_amount) — Total transaction value
- $400 million (dollar_amount) — Cash component of the transaction
- 15.4 million shares (dollar_amount) — Stock component of the transaction
- July 17, 2024 (date) — Date of the agreement announcement
- first quarter of 2025 (date) — Expected closing period
FAQ
What is the total value of the acquisition of Community Bancorporation, Inc. by Home BancShares Inc.?
The total value of the acquisition is approximately $1.0 billion.
What are the components of the $1.0 billion transaction value?
The transaction consists of $400 million in cash and 15.4 million shares of Home BancShares common stock.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2025.
What is the location of Community Bancorporation, Inc.?
Community Bancorporation, Inc. is based in Huguley, Texas.
What is the filing date for this 8-K report?
The filing date for this 8-K report is July 17, 2024.
Filing Stats: 438 words · 2 min read · ~1 pages · Grade level 9.9 · Accepted 2024-07-17 17:19:56
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share HOMB New York Stock Exchange
Filing Documents
- homb-20240717.htm (8-K) — 24KB
- homb063024earningsrelease.htm (EX-99.1) — 1009KB
- gh5yczfedemt000001a.jpg (GRAPHIC) — 7KB
- 0001331520-24-000152.txt ( ) — 1217KB
- homb-20240717.xsd (EX-101.SCH) — 2KB
- homb-20240717_lab.xml (EX-101.LAB) — 22KB
- homb-20240717_pre.xml (EX-101.PRE) — 13KB
- homb-20240717_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. Home BancShares, Inc. (the "Company") hereby furnishes its July 17, 2024 press release announcing second quarter 2024 earnings, which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. See Item 2.02. Results of Operations and Financial Condition.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release: Home BancShares, Inc. Announces Second Quarter Earnings 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Home BancShares, Inc. Date: July 17, 2024 By: /s/ Jennifer C. Floyd Jennifer C. Floyd Chief Accounting Officer