Home Bancshares Stock Price, News & Analysis

Home BancShares, Inc. (NYSE: HOMB) reported strong Q3 2024 results despite Hurricane Helene's impact. Key highlights include:

- Net income: $100.0 million
- Diluted earnings per share: $0.50
- Net interest margin: 4.28%
- Return on average assets (ROA): 1.74%
- Total loans: $14.82 billion
- Total deposits: $16.71 billion
- Total assets: $22.82 billion

The company recorded $18.9 million in credit loss expense, including a $16.7 million hurricane reserve. HOMB maintained strong liquidity with $5.65 billion in net available liquidity. The allowance for credit losses on loans increased to 2.11% of total loans. Despite challenges, HOMB demonstrated resilience with solid financial performance and strong balance sheet metrics.

Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, has announced additional loan loss reserves of approximately $16.7 million for the third quarter of 2024 due to Hurricane Helene. The Category 4 hurricane made landfall on September 26, 2024, affecting over $1 billion worth of loans in its path. HOMB's Chairman, John Allison, emphasized the company's preparedness for such events and its strong balance sheet.

Allison also mentioned the potential impact of Hurricane Milton, which made landfall on October 9, 2024, and could lead to a substantial increase in hurricane-related loan reserves for the fourth quarter. HOMB operates 76 branches in Arkansas, 78 in Florida, 58 in Texas, 5 in Alabama, and 1 in New York City.

Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, has announced the release date for its Third Quarter 2024 earnings. The company will disclose earnings after market close on October 16, 2024, followed by a conference call on October 17, 2024, at 1:00 p.m. CT to review the results. Participants can pre-register for the webcast or live call using provided links. Those unable to pre-register can dial in to listen live. A replay will be available until October 24, 2024. Home BancShares is a bank holding company headquartered in Conway, Arkansas, with its subsidiary Centennial Bank operating in multiple states.

Home BancShares, Inc. (NYSE: HOMB), the parent company of Centennial Bank, has announced an increase in its quarterly cash dividend. The Board of Directors declared a regular $0.195 per share dividend, payable on September 4, 2024, to shareholders of record as of August 14, 2024. This represents an 8.3% increase from the previous quarter's dividend of $0.18 per share.

Home BancShares is a bank holding company headquartered in Conway, Arkansas. Its subsidiary, Centennial Bank, offers a wide range of commercial and retail banking services across multiple states, including Arkansas, Florida, Texas, South Alabama, and New York City.

Home BancShares, Inc. (NYSE: HOMB) reported solid Q2 2024 results. Key highlights include:

- Net income of $101.5 million, or $0.51 diluted earnings per share

- Net interest margin increased to 4.27% from 4.13% in Q1 2024

- Total loans grew to $14.78 billion, up from $14.51 billion in Q1

- Total deposits increased to $16.96 billion from $16.87 billion in Q1

- Efficiency ratio improved to 43.17%

The company maintained strong liquidity with $5.82 billion in net available liquidity, exceeding uninsured deposits by $1.13 billion. HOMB's allowance for credit losses remained stable at 2.00% of total loans.

Home BancShares, the parent company of Centennial Bank, will release its Second Quarter 2024 earnings after market close on July 17, 2024.

A conference call to discuss the results is scheduled for July 18, 2024, at 1:00 p.m. CT (2:00 p.m. ET).

Participants can pre-register for the webcast or live call to receive immediate access instructions. The call will be available for replay until July 25, 2024, at 10:59 p.m. CT (11:59 p.m. ET).

Home BancShares provides various banking and financial services across several states and trades under the NYSE ticker 'HOMB'.

Home BancShares announced key management changes as it prepares for future growth. Stephen Tipton, formerly Chief Operating Officer since 2015, is now the CEO of Centennial Bank. Kevin Hester, the Chief Lending Officer, is named President of Home BancShares and Centennial Bank. John Allison remains Executive Chairman and CEO of Home BancShares, while Tracy French will focus on special projects as Chairman of Centennial Bank. These changes leverage the experienced leadership team to continue the bank’s mission of exceeding customer and shareholder expectations.