Centennial Bank has named Davy Carter its regional president responsible for overseeing the acquisition of Liberty Bank.
Conway-based Home BancShares, which owns Centennial Bank, reached an agreement last month to buy Liberty for $250 million in stock and $30 million in cash, creating a holding company with more than $7 billion in assets.
Carter, the Republican speaker of the Arkansas House of Representatives, opted not to run for governor and instead rejoined Centennial as an executive vice president. He had left the bank earlier this year.
"We were grateful Davy returned to our corporate family a few months ago," Centennial CEO Randy Sims said in a statement. "This will be the perfect opportunity for Davy and the bank."
Home BancShares will become the second-largest financial institution in Arkansas after the acquisition of Liberty is complete.