Helene Shifts HOMB into Hurricane Mode

Core Viewpoint - Home BancShares, Inc. has established additional loan loss reserves of approximately $16.7 million due to the impact of Hurricane Helene, which made landfall as a Category 4 hurricane on September 26, 2024 [1][3]. Group 1: Financial Impact - The company recorded additional loan loss reserves of about $16.7 million in response to Hurricane Helene [1]. - There is over $1 billion worth of loans in the path of the storm, and it will take time to assess the damages and potential losses [3]. - The company is also preparing for potential impacts from Hurricane Milton, which made landfall on October 9, 2024, indicating that further increases in loan reserves may be necessary for the fourth quarter [4]. Group 2: Operational Preparedness - Home BancShares has implemented a hurricane preparedness plan that includes generators, satellite phones at branches, and a toll-free number for employee safety [2]. - The company has a history of operating in Florida, which contributes to its experience in managing hurricane-related challenges [2]. Group 3: Company Overview - Home BancShares, Inc. is headquartered in Conway, Arkansas, and operates Centennial Bank, which provides a range of commercial and retail banking services [6]. - The company has a total of 76 branches in Arkansas, 78 in Florida, 58 in Texas, 5 in Alabama, and one in New York City [5].