Liberty Bank customers can expect "minor changes" after merger - KAIT Jonesboro, AR - Region 8 News, weather, sports

Liberty Bank customers can expect "minor changes" following merger

Fowler and Allison unveil map of Centennial locations Fowler and Allison unveil map of Centennial locations

 

JONESBORO, AR (KAIT) - It was a historic moment Tuesday afternoon at the Little Rock Chamber of Commerce as it was announced Liberty Bank has been sold to Home BancShares.

The merger doubles the amount of Centennial Banks throughout the state, making Centennial Bank the second largest bank holding company headquartered in Arkansas.

"This is a day of history that's being made in Arkansas," Chairman of Home BancShares, John Allison said.

Tuesday's announcement regarding Centennial and Liberty Bank marks the biggest in-state banking merger ever for Arkansas.

"It's always been exciting for me to think about Jonesboro and doing something with Wallace in Jonesboro. It's a story of coming home and investing back in my hometown," Allison said.

Both banks have 46 locations throughout central and northern Arkansas, giving Centennial Bank 92 branch locations in the state now and 1,500 employees.

"It's almost a duplicate operation, it's almost amazing how many similarities there are," Wallace Fowler, Chairman and CEO of Liberty Bank told Region 8 News.

Fowler started Liberty Bank in 2001 and explained because of those similar operation styles, Liberty customers shouldn't be concerned about major changes.

"It's gonna be the same people," Fowler said. "It will not be a massive layoff and all this because it takes so many to run the bank and give the service we all have been known to give."

Allison added the reason they can avoid massive layoffs is visible from the map of where current bank branches are.

"It's like a glove, it just fits so well. Virtually no overlap, because you don't want a lot of overlap on one of these deals," Allison said. The only towns with overlapping branches are Morrilton and Searcy. 

Governor Mike Beebe was at the announcement as well. He said he admires Fowler for what he's built in Northeast Arkansas

"This may be the third bank that he's started and built up and you see the size and the quality and the value of that too," Beebe said.

Beebe said Allison's character will continue that.

"He's born with a gift of entrepreneurial spirit. He takes chances but they're the kind of chances where he measures the risk," Beebe said. "He's a heckuva good businessman."

The big question for a lot of ASU fans in Jonesboro...what happens with the naming of Liberty Bank Stadium? Allison told Region 8 News it will likely remain named Liberty Bank Stadium this season and change to Centennial Stadium next year.

The merger is expected to close in the 3rd quarter of 2013.

Copyright 2013 KAIT. All Rights Reserved.

 

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • breaking

    Texas Roadhouse coming to Jonesboro

    Texas Roadhouse coming to Jonesboro

    Monday, June 25 2018 12:09 PM EDT2018-06-25 16:09:53 GMT
    Monday, June 25 2018 1:03 PM EDT2018-06-25 17:03:18 GMT
    (Source: Texas Roadhouse website)(Source: Texas Roadhouse website)

    There will be a new restaurant coming to Jonesboro next year.

    There will be a new restaurant coming to Jonesboro next year.

  • Two probationers arrested after loaded rifle found

    Two probationers arrested after loaded rifle found

    Monday, June 25 2018 11:50 AM EDT2018-06-25 15:50:09 GMT
    Monday, June 25 2018 12:47 PM EDT2018-06-25 16:47:28 GMT
    (Source: Mississippi County Sheriff's Office)(Source: Mississippi County Sheriff's Office)
    (Source: Mississippi County Sheriff's Office)(Source: Mississippi County Sheriff's Office)

    Two people in Mississippi County were arrested last week after violating probation.

    Two people in Mississippi County were arrested last week after violating probation.

  • Sinkhole at Spring River continues to grow, official says

    Sinkhole at Spring River continues to grow, official says

    Friday, June 22 2018 7:28 PM EDT2018-06-22 23:28:30 GMT
    Monday, June 25 2018 11:31 AM EDT2018-06-25 15:31:49 GMT
    Officials are working to find a solution to a sinkhole on the Spring River in Fulton County. (Source: Arkansas Game and Fish Commission Facebook page)Officials are working to find a solution to a sinkhole on the Spring River in Fulton County. (Source: Arkansas Game and Fish Commission Facebook page)

    A sinkhole in the Spring River in Fulton County where a man was killed earlier this month presents major safety issues as officials continue to work on a solution to the issue. 

    A sinkhole in the Spring River in Fulton County where a man was killed earlier this month presents major safety issues as officials continue to work on a solution to the issue. 

Powered by Frankly