Home BancShares to Acquire Mountain Commerce Bancorp for $150.1M in Accretive All-Stock Merger

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Home BancShares is acquiring Mountain Commerce Bancorp in a strategic all-stock transaction valued at approximately $150.1 million. This acquisition is expected to be accretive to Home's earnings per share and tangible book value per share, indicating a financially sound expansion. The merger will significantly expand Home's market footprint into Tennessee, a region management views as attractive for business. The fixed exchange ratio and the support from MCBI's directors and executive officers, who collectively hold a substantial portion of MCBI's outstanding shares, suggest a high likelihood of deal completion. The transaction also includes provisions for key MCBI executives to continue with the combined entity, ensuring leadership continuity in the new markets.

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• Acquisition Agreement Signed

  Home BancShares, Inc. (HOMB) has entered into an Agreement and Plan of Merger to acquire Mountain Commerce Bancorp, Inc. (MCBI) in an all-stock transaction.

• Transaction Value and Consideration

  The merger is valued at approximately $150.1 million, with MCBI shareholders receiving 0.85 shares of HOMB common stock for each MCBI share. Approximately 5.4 million shares of HOMB common stock will be issued.

• Financial Impact

  The transaction is anticipated to be accretive to Home's estimated earnings per share and tangible book value per share.

• Strategic Expansion

  The acquisition will expand Home's market footprint into the Tennessee banking market, which is considered a pro-business region.

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Home BancShares is acquiring Mountain Commerce Bancorp in a strategic all-stock transaction valued at approximately $150.1 million. This acquisition is expected to be accretive to Home's earnings per share and tangible book value per share, indicating a financially sound expansion. The merger will significantly expand Home's market footprint into Tennessee, a region management views as attractive for business. The fixed exchange ratio and the support from MCBI's directors and executive officers, who collectively hold a substantial portion of MCBI's outstanding shares, suggest a high likelihood of deal completion. The transaction also includes provisions for key MCBI executives to continue with the combined entity, ensuring leadership continuity in the new markets.