CONWAY, Ark., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ:HOMB) ("Home" or "the Company"), parent company of Centennial Bank, ("Centennial"), and Giant Holdings, Inc. ("GHI"), parent company of Landmark Bank, N.A. ("Landmark"), headquartered in Ft. Lauderdale, Florida, today announced the signing of a definitive agreement and plan of merger for Home to acquire GHI. Under the terms of the agreement, GHI will merge into Home, Landmark will merge into Centennial, and shareholders of GHI will receive proceeds from the transaction of approximately $88.5 million, consisting of $18.5 million in cash and $70.0 million of Home common stock. GHI currently operates six branch locations in the Ft. Lauderdale area. As of September 30, 2016, GHI had approximately $463.0 million in total assets, $335.2 million in loans, and $368.2 million in deposits. Upon completion of the acquisition, the Company will have approximately $10.2 billion in total assets. "The acquisition of Landmark allows us to increase our market share in the Ft. Lauderdale area. We consider this acquisition a smart deal, and it is immediately accretive to diluted earnings per share, book value and tangible book value," said John Allison, Home's Chairman. "We have remained disciplined in our pricing in order to provide our shareholders added value on day one, while adding a great bank to our Company. I personally look forward to working with Jeff Roschman, GHI's Chairman, and his fine team of bankers. Jeff and I share the common interest of continuing to build this company." "We are excited to have found a new partner in Home BancShares and Centennial," said Perry LaCaria, Landmark President and Chief Executive Officer. "Together, with an expanded range of products and Home's history of strong financial performance, we will be able to serve an even wider array of customers in Southeast Florida."