Home BancShares, which owns Centennial Bank branches in four states, on Friday closed on its purchase of Giant Holdings Inc., parent of Landmark Bank in Fort Lauderdale, Fla.
Home BancShares announced the purchase in November. It agreed to pay almost $100 million in stock and cash for the Florida bank.
Landmark Bank has almost $400 million in assets, $329 million in loans and $302 million in deposits. It has six branches in the Fort Lauderdale area.
With the purchase, Centennial Bank has 76 branches in Arkansas, 65 in Florida, six in Alabama and one in New York City.
The purchase pushes Home BancShares to $10.2 billion in assets, over the federal benchmark that requires the bank to meet stricter standards of oversight. Home BancShares is not required to meet those standards until next year.
-- David Smith