HomeBank of Arkansas to be acquired by Barksdale Federal Credit Union
BOSSIER CITY, La.–Barksdale FCU said it has completed its purchase and assumption of Greenbrier, Ark.-based HomeBank of Arkansas. The deal includes all deposits and substantially all loans. HomeBank was founded in 1908.
All five of HomeBank’s branch offices in Damascus, Portland, Greenbrier, Marshall and Little Rock in Arkansas will operate as BFCU branch offices, increasing BFCU’s total number of branches to 30, employees to 425 and total assets to approximately $2.1 billion.
Terms of the deal were not disclosed. At the time of acquisition, HomeBank had $73.8-million in assets. It posted a net loss of $419,000 at year-end 2020, and a net loss of $984,000 at year-end 2019. It was profitable through the first three quarters of 2021, according to TalkBusiness.net. BFCU noted it currently operates 25 branches throughout north and central Louisiana and in Longview, Texas.
Statement from BFCU's President & CEO:
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