Home Bancshares Stock Price, News & Analysis

Home BancShares, Inc. (NYSE: HOMB) has appointed J. Pat Hickman to its Board of Directors following the completion of its acquisition of Happy Bancshares on April 1, 2022. Hickman, a seasoned banking professional with over 45 years of experience, is known for founding Happy State Bank. Chairman John W. Allison expressed confidence in Hickman's contributions to the board, highlighting his deep roots in the Texas banking community. Home BancShares, through its subsidiary Centennial Bank, offers a wide range of banking services across multiple states, including Arkansas, Florida, and Texas.

Home BancShares reported a net income of $64.9 million for Q1 2022, with diluted earnings per share at $0.40. Total revenue stood at $161.8 million, down from $171.0 million in Q4 2021. The bank's net interest margin decreased to 3.21% from 3.42% in the previous quarter. Key metrics included a ROA of 1.43% and a ROE of 9.58%. The bank's allowance for credit losses was $234.8 million, representing 2.34% of total loans. Asset growth was noted, with total assets reaching $18.62 billion, and total loans at $10.05 billion as of March 31, 2022.

Home BancShares, Inc. (NYSE: HOMB) announced that its subsidiary, Centennial Bank, has been recognized by Forbes as one of The World’s Best Banks 2022 for the third consecutive year. On February 9, 2022, Centennial was also ranked the #1 Bank in America. This recognition follows a survey conducted by Forbes and Statista involving over 45,000 consumers assessing trust, fees, customer service, digital services, and financial advice. Centennial Bank's repeated accolades highlight its strong customer relations and service quality.

Home BancShares, Inc. (HOMB) has successfully completed its acquisition of Happy Bancshares, Inc. for approximately $961.9 million, effective April 1, 2022. Happy, as of December 31, 2021, held $6.81 billion in total assets and $5.81 billion in deposits. This merger enhances Home’s branch network to 222 branches across several states, including a significant entry into Texas. The company aims to leverage synergies and expand its market presence, with the deal expected to be immediately accretive.

Home BancShares, Inc. (NYSE: HOMB) will release its First Quarter 2022 earnings on April 21, 2022, before market opening. A conference call to discuss these earnings will occur at 1:00 p.m. CT on the same day. Participants can pre-register for the call via a provided link for both webcast and live call options. Those without internet access can listen by calling 1-844-200-6205. The earnings call will also be available for replay until April 28, 2022. Home BancShares operates through its subsidiary, Centennial Bank, offering various banking services across multiple states.

Home BancShares, Inc. (NYSE: HOMB) will engage in a panel discussion titled ‘Banking Unplugged’ at the 2022 RBC Capital Markets Global Financial Institutions Virtual Conference on March 8, 2022, at 3:00 p.m. CT. The event will be broadcast live and can be accessed through the Company’s website under Investor Relations. A recorded version of the discussion will be available within 12 hours of the event and accessible for one year. Home BancShares, based in Conway, Arkansas, provides a wide range of banking services across several states.

Home BancShares, Inc. (NYSE: HOMB) has received final approval from the Federal Reserve Board for its merger with Happy Bancshares, Inc.. This decision follows prior approval from the Arkansas State Banking Board and the shareholders of both companies, with the merger set to close in early April 2022. Happy Bancshares shareholders will receive 2.17 shares of Home BancShares stock for each share held. The merger aims to enhance operational capabilities and expand market presence, as stated by Chairman and CEO John Allison.

Home BancShares, Inc. (NYSE: HOMB) has been ranked #1 on Forbes 2022 “Best Banks in America” list, marking its third win in five years. The ranking highlights the company's performance across nine financial metrics, with top marks in five areas including risk-based capital ratio and return on average assets. Home BancShares is recognized for its strong growth, credit quality, and profitability, based on data from regulatory filings ending September 30, 2021. This accolade underscores the commitment of its team to serving customers and shareholders effectively.

Home BancShares, Inc. (NYSE: HOMB) has finalized the acquisition of a marine loan portfolio valued at approximately $238 million from LendingClub Bank. This portfolio will enhance Centennial Bank's Shore Premier Finance division, which now has total loans receivable of about $1.13 billion. CEO John Allison highlights the strategic importance of this acquisition for scaling business and improving financial performance. The company anticipates that the new loans will align well with existing asset performance and mitigate pandemic-related production volatility.