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]

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 June 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 71-068 ...

Part I: Financial Information [Item 1: Financial Statements](index=5&type=section&id=Item%201%3A%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Home BancShares, Inc. as of March 31, 2023, and for the three-month period then ended, with comparative data for prior periods [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) The Consolidated Balance Sheet shows a slight decrease in total assets to $22.52 billion as of March 31, 2023, from $22.88 billion at year-end 2022, primarily driven by a decrease in investment securities and total deposits, while stockholders' equity increased to $3.63 billion Consolidated Balance Sheet Highlights (Unaudited) | (In thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$22,518,255** | **$22,883,588** | | Loans receivable, net | $14,099,465 | $14,119,811 | | Total investment securities | $5,058,511 | $5,329,295 | | **Total Liabilities** | **$18,887,370** | **$19,357,226** | | Total deposits | $17,445,466 | $17,938,783 | | **Total Stockholders' Equity** | **$3,630,885** | **$3,526,362** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) For the three months ended March 31, 2023, the company reported a significant year-over-year increase in net income to $103.0 million from $64.9 million, driven by a substantial rise in net interest income reflecting the higher interest rate environment and the Happy Bancshares acquisition Consolidated Income Statement Highlights (Unaudited) | (In thousands, except per share data) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net interest income | $214,595 | $131,148 | | Provision for credit losses | $1,200 | $— | | Non-interest income | $34,164 | $30,669 | | Non-interest expense | $114,644 | $76,896 | | **Net income** | **$102,962** | **$64,892** | | **Diluted earnings per share** | **$0.51** | **$0.40** | [Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Equity) Stockholders' equity increased from $3.53 billion at the start of 2023 to $3.63 billion at March 31, 2023, primarily driven by net income and positive changes in other comprehensive income, partially offset by common stock dividends and stock repurchases - Key changes in stockholders' equity for Q1 2023 included: - Net income of **$103.0 million**[20](index=20&type=chunk) - Other comprehensive income of **$49.2 million**[20](index=20&type=chunk) - Cash dividends paid of **$36.6 million** (**$0.18** per share)[20](index=20&type=chunk) - Repurchase of **590,000** shares of common stock for **$13.5 million**[20](index=20&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first three months of 2023, the company experienced a net decrease in cash and cash equivalents of $36.7 million, with net cash provided by operating activities of $117.9 million and investing activities providing $381.1 million, while financing activities used $535.8 million Cash Flow Summary (Unaudited) | (In thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $117,948 | $89,486 | | Net cash provided by (used in) investing activities | $381,140 | $(716,414) | | Net cash (used in) provided by financing activities | $(535,824) | $596,071 | | **Net change in cash and cash equivalents** | **$(36,736)** | **$(30,857)** | [Condensed Notes to Consolidated Financial Statements](index=11&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of the company's accounting policies and financial statement components, covering the Happy Bancshares acquisition, investment and loan portfolios, allowance for credit losses, goodwill, deposits, borrowings, and regulatory capital - On April 1, 2022, the Company completed its acquisition of Happy Bancshares, Inc. for a total transaction value of approximately **$962.5 million**, adding **$6.69 billion** in assets and creating **$425.2 million** in goodwill[49](index=49&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk) - As of March 31, 2023, the investment portfolio had gross unrealized losses of **$343.7 million** in the available-for-sale portfolio and **$117.5 million** in the held-to-maturity portfolio, primarily attributed to changes in interest rates rather than credit quality[72](index=72&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) - The allowance for credit losses on loans was **$287.2 million** as of March 31, 2023, down slightly from **$289.7 million** at year-end 2022[98](index=98&type=chunk)[96](index=96&type=chunk] - A provision for credit losses of **$1.2 million** was recorded in Q1 2023[96](index=96&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=57&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the first quarter of 2023, highlighting a 58.7% increase in net income to $103.0 million year-over-year, attributing this growth to the Happy Bancshares acquisition and a rising interest rate environment that expanded the net interest margin to 4.37% [Results of Operations](index=58&type=section&id=Results%20of%20Operations) Net income for Q1 2023 rose to $103.0 million ($0.51 per diluted share) from $64.9 million ($0.40 per diluted share) in Q1 2022, driven by a $140.0 million rise in interest income that outpaced the $56.6 million increase in interest expense, expanding the net interest margin to 4.37% Q1 Performance Comparison | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net Income | $103.0M | $64.9M | | Diluted EPS | $0.51 | $0.40 | | Net Interest Margin (FTE) | 4.37% | 3.21% | | Return on Average Assets | 1.84% | 1.43% | | Return on Average Equity | 11.70% | 9.58% | - The increase in net interest income was primarily due to higher yields on a larger base of earning assets, a result of both the Happy acquisition and the rising interest rate environment[214](index=214&type=chunk)[252](index=252&type=chunk) [Financial Condition](index=71&type=section&id=Financial%20Condition) Total assets decreased slightly to $22.52 billion at March 31, 2023, from $22.88 billion at year-end 2022, mainly due to a $270.8 million decrease in investment securities, while the loan portfolio remained stable and total deposits decreased by $493.3 million - The loan portfolio experienced a **$94.6 million** organic decline from the Centennial Commercial Finance Group, offset by **$73.9 million** in organic growth elsewhere[283](index=283&type=chunk)[285](index=285&type=chunk) - Non-performing loans increased to **$74.0 million** (**0.51%** of total loans) from **$60.9 million** (**0.42%** of total loans) at year-end 2022[218](index=218&type=chunk)[303](index=303&type=chunk) - The allowance for credit losses stood at **$287.2 million**, or **2.00%** of total loans, as of March 31, 2023[341](index=341&type=chunk) [Liquidity and Capital Adequacy](index=85&type=section&id=Liquidity%20and%20Capital%20Adequacy) The company maintains strong capital ratios, with a Common Equity Tier 1 (CET1) ratio of 13.21% and a Total Risk-Based Capital ratio of 16.84% as of March 31, 2023, both well above regulatory minimums for being "well-capitalized," and management details the company's liquidity and risk management strategies Risk-Based Capital Ratios | Ratio | As of March 31, 2023 | Well-Capitalized Guideline | | :--- | :--- | :--- | | Common Equity Tier 1 Capital | 13.21% | 6.50% | | Tier 1 Risk-Based Capital | 13.21% | 8.00% | | Total Risk-Based Capital | 16.84% | 10.00% | | Leverage Ratio | 11.37% | 5.00% | [Item 3: Quantitative and Qualitative Disclosures About Market Risk](index=91&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company details its liquidity and market risk management framework, reporting total net available liquidity of $6.92 billion as of March 31, 2023, which exceeded net uninsured and uncollateralized deposits, and presents an interest rate sensitivity analysis showing an estimated 8.55% increase in net interest income in a +200 basis point rate shock scenario Available Liquidity as of March 31, 2023 | (in thousands) | Net Availability | | :--- | :--- | | Total Internal Liquidity | $2,743,339 | | Total External Liquidity | $4,180,764 | | **Total Available Liquidity** | **$6,924,103** | - Net available liquidity of **$6.92 billion** exceeded the net uninsured deposit position of **$5.21 billion** by **$1.72 billion**[408](index=408&type=chunk)[409](index=409&type=chunk) Net Interest Income Sensitivity | Interest Rate Scenario | Percentage Change from Base | | :--- | :--- | | Up 200 basis points | 8.55% | | Down 100 basis points | (4.83)% | [Item 4: Controls and Procedures](index=93&type=section&id=Item%204%3A%20Controls%20and%20Procedures) The company's Chief Executive Officer and Chief Financial Officer concluded that as of March 31, 2023, the disclosure controls and procedures were effective, with no material changes in the company's internal control over financial reporting identified during the quarter - Management concluded that disclosure controls and procedures are effective[423](index=423&type=chunk) - No material changes to internal control over financial reporting were identified during the quarter ended March 31, 2023[424](index=424&type=chunk) Part II: Other Information [Item 1: Legal Proceedings](index=93&type=section&id=Item%201%3A%20Legal%20Proceedings) The company reports no material pending legal proceedings outside of ordinary routine litigation incidental to its business - There are no material pending legal proceedings, other than ordinary routine litigation[425](index=425&type=chunk) [Item 1A: Risk Factors](index=94&type=section&id=Item%201A%3A%20Risk%20Factors) There were no material changes from the risk factors disclosed in the company's 2022 Form 10-K, with the exception of a new risk factor concerning the potential adverse effects from the failure of other financial institutions - A new risk factor was added regarding the potential adverse effects from the failure of other financial institutions, which could lead to losses on investments, increased deposit insurance premiums, and negative impacts on stock price and investor confidence[428](index=428&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=94&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the first quarter of 2023, the company repurchased 590,000 shares of its common stock at an average price of $22.92 per share as part of its publicly announced stock repurchase program Share Repurchases in Q1 2023 | Period | Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Jan 2023 | 150,000 | $22.67 | | Feb 2023 | 60,000 | $23.95 | | Mar 2023 | 380,000 | $22.85 | | **Total** | **590,000** | **-** | [Item 3: Defaults Upon Senior Securities](index=94&type=section&id=Item%203%3A%20Defaults%20Upon%20Senior%20Securities) Not applicable [Item 4: Mine Safety Disclosures](index=94&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) Not applicable [Item 5: Other Information](index=94&type=section&id=Item%205%3A%20Other%20Information) Not applicable [Item 6: Exhibits](index=95&type=section&id=Item%206%3A%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO, and XBRL data files