Vision Bank had assets of $697m as of 30 September 2011 and Centennial expects to acquire only about $378.6m worth of loans, as well as $535m in deposits.
Park expects the transaction will result in a pre-tax gain of approximately $10 to $12m.
Home BancShares chairman John Allison said this combination is an ideal fit because it expands our footprint into Alabama as well as increases our current presence in the Florida Panhandle.
"We believe the complementary strengths of Centennial and the Vision team create a prominent, dynamic financial institution with experienced local leadership and talented associates who are ready to serve our valued customers and communities from Baldwin County, Alabama, to Tallahassee, Florida," added Allison.
The acquisition is expected to be effective in early 2012 and Park was advised in this transaction by Sandler O’Neill and Partners.
