Conway, AR. — Home BancShares, Inc. (NASDAQ:HOMB) (“Home” or the “Company”), parent company of Centennial Bank, (“Centennial”), today announced the acquisition of Shore Premier Finance (“SPF”), a division of Union Bank & Trust of Richmond, Virginia (“Union”), the bank subsidiary of Union Bankshares Corporation (NASDAQ:UBSH), effective as of the end of the day on June 30, 2018. Under the terms of the agreement, Union received proceeds from the transaction consisting of approximately $374.5 million in cash, subject to certain post-closing adjustments, and 1,250,000 shares of Home common stock.

Shore Premier Finance currently provides direct consumer financing to United States Coast Guard (“USCG”) registered high-end sail and power boats. Additionally, SPF provides inventory floor plan lines of credit to marine dealers, primarily those selling USCG documented vessels. As of the closing of the acquisition, SPF had approximately $384.2 million in total assets, including $383.4 million in total loans.

This portfolio of loans will now be housed in a division of Centennial known as Shore Premier Finance. The Shore Premier Finance division of Centennial will be responsible for servicing the acquired loan portfolio and originating new loan production.

“We’re always looking at acquisition opportunities to provide the strongest risk adjusted return for our investors,” said John Allison, Home’s Chairman. “The Shore Premier Finance team has built a solid foundation in the marine finance space and we look forward to providing them the opportunity and resources to further develop that brand.”

“Divesting our national scope marine finance business obtained in the recent Xenith Bank acquisition, known as Shore Premier Finance, better enables Union to focus on our core businesses and execute our strategic priorities,” said John C. Asbury, president and CEO of Union Bankshares Corporation. “Our teammates built a solid reputation in this specialty lending category at Shore Premier and will find a welcoming home at Centennial Bank.”

“This marine loan portfolio provides both geographic and collateral-type diversification for the Company,” said Tracy French, Centennial’s Chief Executive Officer. “We envision this being the foundation of a meaningful presence in the marine financing market for Home.”

In connection with this acquisition and the creation of the Shore Premier Finance division of Centennial, Centennial has notified the Arkansas State Bank Department of its plans to establish a new loan production office in Chesapeake, Virginia. The loan production office is anticipated to open in July 2018, pending confirmation of no objection. Once the loan production office has been established, the Shore Premier Finance division of Centennial will continue its vision to build out a national lending platform focusing on commercial and consumer marine loans.

Additional information regarding the acquisition is provided in a supplemental presentation available on the Company's website at www.homebancshares.com, under the “Investor Relations” section.

General

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”