Centennial Bank announced today it has bought a Florida holding company, Premier Bank, that operates in the Tallahassee, Fla., area.

John Allison, chairman of Home BancShares, said "This is a great fit and allows us to provide expanded service to our current customers."

If the deal is approved, Premier customers will have access to 28 Centennial locations in the Florida Panhandle.

Centennial plans to acquire six new locations in Tallahassee and the surrounding area.

Closing on the deal is expected in the fourth quarter of 2012.

Shares of HOMB stock closed at $30.54 on Tuesday; down 2 cents.

(Staff writer Becky Harris can be reached at becky.harris@thecabin.net and 505-1234.)