Home BancShares, Inc. - HOMB STOCK NEWS

Home BancShares (NYSE: HOMB) has announced an additional $16.7 million reserve for loan losses due to Hurricane Milton, bringing the total hurricane reserve to $33.4 million for the year. This follows an earlier $16.7 million reserve established for Hurricane Helene.

The company reports approximately $110 million currently on deferral due to both hurricanes. Hurricane Milton, which made landfall on October 9, 2024, caused more than two dozen tornados, while Hurricane Helene made landfall on September 26, 2024. The events span across the third and fourth quarters, with expected delays in insurance settlements due to the back-to-back nature of these events.

Home BancShares (NYSE: HOMB) has announced its participation in a Fireside Chat at the Stephens Annual Investment Conference on November 19, 2024. The presentation is scheduled for 1:00 p.m. CT (2:00 p.m. ET) and will be accessible via live webcast. A replay will remain available for 90 days following the presentation.

Centennial Bank, the company's wholly-owned subsidiary, operates across multiple states including Arkansas, Florida, South Alabama, Texas (as Happy State Bank), and New York City, providing commercial and retail banking services to various stakeholders including businesses, real estate developers, investors, individuals, and municipalities.

Home BancShares (NYSE: HOMB) has announced its participation in a Fireside Chat at the Stephens Annual Investment Conference on November 19, 2024. The presentation is scheduled for 1:00 p.m. CT (12:00 p.m. ET) and will be accessible via live webcast. A replay will remain available for 90 days following the presentation.

Centennial Bank, the company's wholly-owned subsidiary, operates branches across Arkansas, Florida, South Alabama, Texas (as Happy State Bank), and New York City, offering commercial and retail banking services to various stakeholders including businesses, real estate developers, investors, individuals, and municipalities.

Home BancShares (NYSE: HOMB) has declared a quarterly cash dividend of $0.195 per share, payable December 4, 2024, to shareholders of record November 13, 2024. This represents an 8.3% increase from the $0.18 dividend paid in Q4 2023 and maintains the same level as Q3 2024. The company operates through its subsidiary Centennial Bank, providing commercial and retail banking services across Arkansas, Florida, Texas, South Alabama, and New York City.

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.