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Home BancShares to buy Stonegate Bank for about $778.4 mln
March 27, 2017 / 8:30 PM / 6 months ago

Home BancShares to buy Stonegate Bank for about $778.4 mln

March 27 (Reuters) - Bank holding company Home BancShares Inc said it would acquire regional lender Stonegate Bank in a cash-and-stock deal valued at about $778.4 million.

Florida-based Stonegate will merge into Home BancShares’ unit, Centennial Bank.

Stonegate shareholders will receive proceeds of about $749.8 million, which consists of about $50 million in cash and about $699.8 million of Home BancShares stock. (Reporting by Nikhil Subba in Bengaluru; Editing by Maju Samuel)

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