Bank's troubles exposed, possibly prematurely

There's an unusual postscript to the recent news that federal regulators shut down Lutz-based Heritage Bank of Florida.

Indeed, several Gulf Coast bankers were surprised to learn the Tampa Tribune wrote about a confidential document regarding the potential sale of Heritage — six days before the deal. While it appears Heritage's fate was inevitable, the article was nonetheless a hot topic among several Gulf Coast bankers, who say a leak like this is unprecedented.

Conway, Ark.-based Centennial Bank, in an agreement announced Nov. 2., took over Heritage, which had branches in Tampa and Wesley Chapel, in addition to its Lutz headquarters. Centennial assumed Heritage's $222.5 million in deposits and about $193 million of the failed bank's assets, according to a Federal Deposit Insurance Corp. statement. A unit of Home BancShares, Centennial has nearly 40 Florida locations, including Port Charlotte and Marco Island, but this is its first foray into Hillsborough County.