Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q Arkansas 71-0682831 (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition period from ______ to ______ Commission File Number: 001-41093 HOME BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Cha ...

CONWAY, Ark., April 24, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE:HOMB), parent company of Centennial Bank, today announced that its Board of Directors has declared a regular $0.18 per share quarterly cash dividend payable June 5, 2024, to shareholders of record May 15, 2024. This cash dividend is consistent with the quarterly dividends paid during 2023. Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a bro ...

Home BancShares (HOMB) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a c ...

For the quarter ended March 2024, Home BancShares (HOMB) reported revenue of $246.39 million, down 1% over the same period last year. EPS came in at $0.49, compared to $0.54 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $239.53 million, representing a surprise of +2.86%. The company delivered an EPS surprise of +6.52%, with the consensus EPS estimate being $0.46.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

(1) Conway, AR – Home BancShares, Inc. (NYSE: HOMB) ("Home" or the "Company"), parent company of Centennial Bank, released quarterly earnings today. Liquidity and Funding Sources Consistent with the Company's practice of maintaining access to significant external liquidity, the Company had $3.11 billion in net available external liquidity as of March 31, 2024. This included $4.75 billion in available liquidity with the Federal Home Loan Bank (FHLB), of which $1.84 billion has been drawn upon in the ordinary ...

CONWAY, Ark., April 18, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE:HOMB) ("Home" or the "Company"), parent company of Centennial Bank, released quarterly earnings today. Quarterly Highlights MetricQ1 2024Q4 2023Q3 2023Q2 2023Q1 2023Net income$100.1 million$86.2 million$98.5 million$105.3 million$103.0 millionNet income, as adjusted (non-GAAP)(1)$99.2 million$92.2 million$94.7 million$102.6 million$108.9 millionTotal revenue (net)$246.4 million$245.6 million$245.4 million$257.2 million$248.8 millio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition period from _____ to _____ Commission File Number: 001-41093 HOME BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) | Arkansas | | 71-068 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition period from ______ to ______ Commission File Number: 001-41093 HOME BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) Arkansas 7 ...

Financial Data and Key Metrics Changes - The company reported a slight decrease in net income due to rising operating and interest expenses, with an efficiency ratio of nearly 46% [102] - Interest expense increased from 2.27% in June to 2.55% at the end of the quarter, while the net interest margin (NIM) fell by nine basis points to 4.19% [102][106] - The company achieved a record earnings of $415 million over the last four quarters, with a return on assets (ROA) of 1.78% and a return on tangible common equity of 17.62% [117][118] Business Line Data and Key Metrics Changes - Loan demand has decreased significantly, with yields on loans rising to 6.98% from 6.48%, indicating a potential loan recession [121] - The company expects loan growth in the fourth quarter, with new loans being written in the high nines and lower tens [121] Market Data and Key Metrics Changes - The company maintains a strong capital position with a common equity tier 1 (CET1) ratio of 14%, placing it among the top-tier banks in the U.S. [108] - Non-performing assets (NPAs) remain low at 0.42%, indicating strong asset quality [118] Company Strategy and Development Direction - The company is focused on increasing revenue and reducing expenses to improve profitability, emphasizing the need for strategic planning rather than relying on luck [104][105] - There is an ongoing evaluation of all segments of the company to determine their viability and potential for improvement [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about overcoming interest expense increases in the fourth quarter, citing improved margins in September [103] - The company is preparing for potential economic challenges, with a focus on maintaining strong reserves and capital to navigate future crises [112][113] Other Important Information - The company has a robust reserve for bad loans, amounting to almost $300 million, which is 2% of outstanding loans [112] - The company is actively looking for opportunities in the current economic environment, similar to past crises [113] Q&A Session Summary Question: What are the drivers behind the negative event income in the third quarter? - Management indicated that the negative event income was primarily due to $1 million in non-accrual interest from two credits, resulting in a net negative of about $0.5 million [12][13] Question: What is the outlook for non-interest-bearing deposits? - Management noted that outflows in non-interest-bearing deposits were due to customers seeking higher yields, with balances down 20% to 25% over the past year [16][17] Question: Can you provide insights on margin stability? - Management expressed cautious optimism about margin stability, noting slight improvements in September and ongoing efforts to manage deposit costs [24][34] Question: What is the company's strategy regarding M&A in the current environment? - Management stated that potential M&A deals are challenging without government assistance, and they are focusing on organic growth and evaluating existing segments [26][28] Question: What are the trends in criticized and classified loans? - Management reported minor increases in criticized and classified loans, but nothing systemic, with past dues slightly up in the mortgage product portfolio [84][85]

Part I: Financial Information [Item 1: Financial Statements](index=5&type=section&id=Item%201%3A%20Financial%20Statements) This section presents Home BancShares, Inc.'s unaudited consolidated financial statements and detailed notes on accounting policies and financial items [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (In thousands) | Metric | June 30, 2023 | December 31, 2022 | Change (vs. Dec 31, 2022) | | :----- | :------------ | :---------------- | :------------------------ | Assets (In thousands) | Asset Category | June 30, 2023 | December 31, 2022 | Change | | :------------- | :------------ | :---------------- | :----- | Liabilities and Stockholders' Equity (In thousands) | Liability/Equity Category | June 30, 2023 | December 31, 2022 | Change | | :------------------------ | :------------ | :---------------- | :----- | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated Statements of Income Highlights (In thousands, except per share data) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :----- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | Interest Income (In thousands) | Category | 3 Months Ended June 30, 2023 | 3 Months Ended June 30, 2022 | 6 Months Ended June 30, 2023 | 6 Months Ended June 30, 2022 | | :------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | Interest Expense (In thousands) | Category | 3 Months Ended June 30, 2023 | 3 Months Ended June 30, 2022 | 6 Months Ended June 30, 2023 | 6 Months Ended June 30, 2022 | | :------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | Non-Interest Income (In thousands) | Category | 3 Months Ended June 30, 2023 | 3 Months Ended June 30, 2022 | 6 Months Ended June 30, 2023 | 6 Months Ended June 30, 2022 | | :------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | Non-Interest Expense (In thousands) | Category | 3 Months Ended June 30, 2023 | 3 Months Ended June 30, 2022 | 6 Months Ended June 30, 2023 | 6 Months Ended June 30, 2022 | | :------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | [Consolidated Statements of Comprehensive Income (Loss)](index=8&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Consolidated Statements of Comprehensive Income (Loss) (In thousands) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :----- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | [Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' Equity Balances (In thousands) | Category | Balances at January 1, 2023 | Balances at March 31, 2023 | Balances at June 30, 2023 | | :------- | :-------------------------- | :------------------------- | :------------------------ | Stockholders' Equity Changes (In thousands) | Activity | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2023 | | :------- | :------------------------------- | :----------------------------- | Stockholders' Equity Balances (In thousands) | Category | Balances at January 1, 2022 | Balances at March 31, 2022 | Balances at June 30, 2022 | | :------- | :-------------------------- | :------------------------- | :------------------------ | Stockholders' Equity Changes (In thousands) | Activity | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :------- | :------------------------------- | :----------------------------- | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows (In thousands) | Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :------- | :----------------------------- | :----------------------------- | [Condensed Notes to Consolidated Financial Statements](index=12&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) [1. Nature of Operations and Summary of Significant Accounting Policies](index=12&type=section&id=1.%20Nature%20of%20Operations%20and%20Summary%20of%20Significant%20Accounting%20Policies) Home BancShares, Inc. operates as a bank holding company through Centennial Bank, offering banking services across multiple states, with financial statements prepared under GAAP using significant management estimates - Home BancShares, Inc. (HBI) is a bank holding company operating through its subsidiary, Centennial Bank, with branches in Arkansas, Florida, South Alabama, Texas, and New York City[27](index=27&type=chunk) - The company operates as a single reportable operating segment, with financial performance evaluated on a company-wide basis[28](index=28&type=chunk) - Key accounting estimates include the allowance for credit losses, valuation of investment securities, foreclosed assets, and assets/liabilities from business combinations[30](index=30&type=chunk) - Loans are reported at outstanding principal balance, adjusted for charge-offs and deferred fees[35](index=35&type=chunk) The allowance for credit losses is a valuation account based on expected collectability, considering historical data, current conditions, and forecasts[36](index=36&type=chunk)[37](index=37&type=chunk) - Revenue recognition for most transactions (loans, investments) is outside ASC Topic 606[45](index=45&type=chunk) For in-scope activities like service charges and trust fees, revenue is recognized as performance obligations are satisfied[47](index=47&type=chunk) Earnings Per Share (In thousands, except per share data) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :----- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | [2. Business Combinations](index=15&type=section&id=2.%20Business%20Combinations) On April 1, 2022, the Company acquired Happy Bancshares, Inc. for approximately **$962.5 million**, issuing **42.4 million** shares of common stock, adding new markets in Texas with **$6.69 billion** in total assets, **$3.65 billion** in loans, and **$5.86 billion** in customer deposits, resulting in **$425.2 million** in goodwill - On April 1, 2022, Home BancShares acquired Happy Bancshares, Inc. for approximately **$962.5 million**, issuing **42.4 million** shares of common stock[47](index=47&type=chunk) - The acquisition added new markets in Texas and brought approximately **$6.69 billion** in total assets, **$3.65 billion** in loans, and **$5.86 billion** in customer deposits[48](index=48&type=chunk) - The acquisition resulted in **$425.2 million** in goodwill, calculated as the difference between the purchase price and the fair value of net assets acquired[49](index=49&type=chunk) Assets Acquired and Liabilities Assumed from Happy Bancshares, Inc. (In thousands) | Category | Acquired from Happy | Fair Value Adjustments | As Recorded by HBI | | :------- | :------------------ | :--------------------- | :----------------- | - Fair values for acquired assets and liabilities were determined using discounted cash flow methodologies and market prices, with significant estimates for loans and core deposit intangibles[52](index=52&type=chunk)[56](index=56&type=chunk) Unaudited Pro-Forma Combined Financial Information (Six Months Ended June 30, 2022, In thousands, except per share data) | Metric | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :----- | :------------------------------- | :----------------------------- | Purchased Loans with Credit Deterioration (PCD) at Acquisition (April 1, 2022, In thousands) | Metric | Amount | | :----- | :----- | [3. Investment Securities](index=18&type=section&id=3.%20Investment%20Securities) The Company's investment securities portfolio includes available-for-sale (AFS) and held-to-maturity (HTM) securities, with **$390.6 million** in unrealized AFS losses and **$129.7 million** in HTM unrealized losses as of June 30, 2023, primarily due to interest rate changes, and a **$1.7 million** provision for credit losses on an AFS subordinated debt security Investment Securities - Available-for-Sale (In thousands) | Category | Amortized Cost (June 30, 2023) | Fair Value (June 30, 2023) | Gross Unrealized Gains (June 30, 2023) | Gross Unrealized Losses (June 30, 2023) | Amortized Cost (Dec 31, 2022) | Fair Value (Dec 31, 2022) | Gross Unrealized Gains (