Arkansas lender takes over Bank of Commerce

SARASOTA — Home BancShares Inc. has completed its $4.2 million purchase of Sarasota-based The Bank of Commerce, the company announced this week.

Per an agreement contained in Bank of Commerce Holdings' bankruptcy filing, the parent of Centennial Bank paid cash for all outstanding shares of Bank of Commerce and merged the bank into Centennial as of the close of business Feb. 28, according to a statement.

With the deal, Conway, Ark.-based Home BancShares now operates 68 branches in Florida, and 151 overall in four states — Arkansas, Florida, Alabama and New York.