Home BancShares, Inc. and Liberty Bancshares, Inc. Announce Business Combination

Home BancShares, Inc. and Liberty Bancshares, Inc. Announce Business
Combination

CONWAY, Ark., June 25, 2013 (GLOBE NEWSWIRE) -- Home BancShares, Inc.
(Nasdaq:HOMB) ("Home" or "the Company"), parent company of Centennial Bank,
and Liberty Bancshares, Inc. ("Liberty"), parent company of Liberty Bank of
Arkansas, today announced the signing of a definitive agreement for Liberty to
merge into Home. Under the terms of the agreement, shareholders of Liberty
will receive $250 million of Home common stock plus $30 million in cash.

Upon completion of the transaction, the combined company will have
approximately $7.1 billion in total assets, $5.6 billion in deposits, $4.5
billion in loans, 151 branches, 186 ATMs, and 1,500 employees across Arkansas,
Florida and Southern Alabama. The merger will significantly increase the
Company's deposit market share in Arkansas making it the 2^nd largest bank
holding company headquartered in Arkansas.

"It's exciting to be a part of the largest in-state banking transaction in the
history of Arkansas. This combination will double the number of Arkansas
branches for Centennial Bank from 46 to 92 locations. Centennial's strength is
in Central and North Central Arkansas, while Liberty's presence is in
Northeast, Northwest, and Western Arkansas. The association of Liberty with
Centennial is the perfect fit to provide more convenient locations to our
Arkansas customers," said Randy Sims, Home's Chief Executive Officer.

The acquisition is expected to close late in the third quarter or early in the
fourth quarter of 2013 and is subject to Home and Liberty shareholder
approval, regulatory approval, and other conditions set forth in the merger
agreement. Pursuant to the terms of the merger agreement, Liberty Bank will
merge with and into Centennial Bank immediately after the merger of Liberty
with and into Home. Subject to the receipt of requisite approvals, Home
expects to repurchase all of Liberty's Small Business Lending Fund preferred
stock held by the U.S. Treasury shortly after the closing.

"The merger of two similarly sized Arkansas-based companies with comparable
cultures and history with only two overlapping markets creates a prestigious
banking franchise in Arkansas," said John Allison, Chairman of Home. "Wallace
and I have been friends for a very long time. The addition of Liberty is truly
a game-changer for Home BancShares."

"This association with my longtime friend John Allison is important for many
reasons; first and foremost, Home BancShares is another outstanding Arkansas
based company with similar operating philosophies as Liberty," said Wallace
Fowler, Chairman of Liberty. "We are extremely excited about the combination
of these two outstanding financial institutions."

                            Additional Information

The Company's executive management will host an investor conference call
today, June 25, 2013 at 4:00 pm CT (5:00 ET). Interested parties can listen to
this call by calling 1-888-317-6016 and asking for the Home BancShares
conference call. A replay of the call will be available by calling
1-877-344-7529, Passcode: 10030456, which will be available until July 26,
2013 at 8:00 a.m. CT (9:00 ET). Internet access to the call will be available
live or in recorded version on the Company's website at
www.homebancshares.com.

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.

The Company intends to file a registration statement on Form S-4 to register
the shares of Home common stock to be issued to shareholders of Liberty in
connection with the transaction. The registration statement will include a
joint proxy statement/prospectus and other relevant materials regarding the
proposed merger transaction involving the Company and Liberty. WE URGE
INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS
TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY
REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION REGARDING THE PROPOSED MERGER TRANSACTION. Investors and
security holders may obtain free copies of these documents and other documents
filed with the Securities and Exchange Commission (the "SEC") on the SEC's
website at http://www.sec.gov. Investors and security holders may also obtain
free copies of the documents filed with the SEC by the Company at the
Company's website at http://www.homebancshares.com, Investor Relations, or by
contacting Brian Davis, by telephone at (501) 328-4770.

                                   General

Home BancShares, Inc. is a bank holding company, headquartered in Conway,
Arkansas. Our 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 locations in Central Arkansas, North Central Arkansas,
Southern Arkansas, the Florida Keys, Southwestern Florida, Central Florida,
the Florida Panhandle and South Alabama. The Company's common stock is traded
through the NASDAQ Global Select Market under the symbol "HOMB."

This release contains forward-looking statements which include, but are not
limited to, statements about the benefits of the business combination
transaction involving Home and Liberty, including future financial and
operating results, the combined company's plans, objectives, expectations,
goals and outlook for the future. Statements in this press release that are
not historical facts should be considered forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements of this type speak only as of the date of this news
release. By nature, forward-looking statements involve inherent risk and
uncertainties. Various factors could cause actual results to differ materially
from those contemplated by the forward-looking statements, including, but not
limited to, (i) the possibility that the acquisition does not close when
expected or at all because required regulatory, shareholder or other approvals
and other conditions to closing are not received or satisfied on a timely
basis or at all; (ii) changes in Home's stock price before closing, (iii) the
risk that the benefits from the transaction may not be fully realized or may
take longer to realize than expected, including as a result of changes in
general economic and market conditions, interest and exchange rates, monetary
policy, laws and regulations and their enforcement, and the degree of
competition in the geographic and business areas in which Home and Liberty
operate; (iv) the ability to promptly and effectively integrate the businesses
of Home and Liberty; (v) the reaction to the transaction of the companies'
customers, employees and counterparties; and (vi) diversion of management time
on acquisition-related issues. Additional information on factors that might
affect Home BancShares, Inc.'s financial results is included in its Annual
Report on Form 10-K for the year ended December 31, 2012 filed with the
Securities and Exchange Commission.

CONTACT: Home BancShares, Inc.
         Brian S. Davis
         Investor Relations Officer
         (501) 328-4770
        
         Centennial Bank
         Randy Sims
         Chief Executive Officer
         (501) 328-4656

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