Welcome to our dedicated page for Home Bancshares news (Ticker: HOMB), a resource for investors and traders seeking the latest updates and insights on Home Bancshares stock.
Overview
Home Bancshares, Inc. functions as a bank holding company through its subsidiary, Centennial Bank, offering an extensive range of financial services. The organization provides both commercial banking and retail banking services, focusing on delivering tailored financial solutions to businesses, real estate developers, investors, individuals, and municipalities. With industry-specific expertise in managing diversified loan portfolios and deposit products, the company supports both traditional finance needs and modern digital banking demands.
Core Business Areas
The company’s operations are anchored in two main sectors: commercial and retail banking. In the commercial domain, it provides specialized financial services that include a variety of loans such as non-farm/non-residential real estate, construction and land development, as well as consumer and agricultural financing. In the retail landscape, the bank offers a suite of deposit accounts including checking, savings, money market, and certificates of deposit, ensuring comprehensive financial management for individual customers.
Operational Excellence and Technological Integration
Home Bancshares emphasizes operational strength through diligent risk management and efficient service delivery. It integrates advanced technologies into its core banking operations by offering internet banking, mobile banking, and voice response systems. This digital enhancement not only facilitates seamless access to financial services but also reinforces the company’s commitment to secure and innovative banking practices.
Financial Product and Service Diversification
The bank’s diversified product portfolio extends to include specialized financial solutions such as cash management, overdraft protection, direct deposit services, and automatic account transfers. Moreover, it offers safe deposit boxes and participates in the sale of U.S. Savings Bonds, reflecting a holistic approach to traditional and modern banking services. This diversification further broadens its appeal across various customer segments by meeting a wide array of financial requirements.
Market Position and Competitive Landscape
Positioned as a key regional player, Home Bancshares leverages its focus on high-quality credit and strong balance sheet fundamentals to navigate a competitive banking system. Its primary source of net revenue is derived from net interest income, underscoring its commitment to conventional banking profitability. The company distinguishes itself by combining organic growth strategies with strategic acquisitions—allowing it to maintain stability and competitive relevance even in dynamic market environments.
Customer-Centric Approach
Home Bancshares is dedicated to addressing the evolving needs of its diverse customer base. Its comprehensive array of financial services is designed to serve both businesses and individual clients with precision and reliability. By offering a complete suite of traditional banking products alongside digital enhancements, the company effectively bridges conventional banking with modern market demands, ensuring that clients experience both personal and professional financial support.
Risk Management and Credit Quality
At the heart of its operations, the company maintains rigorous risk management protocols to sustain a solid credit profile. This focus on credit quality and prudent lending practices enables Home Bancshares to manage a broad loan portfolio that includes commercial, residential, and varied specialty loans. This careful balance reduces exposure to high-risk lending and reinforces confidence among its diverse clientele.
Home BancShares (NYSE: HOMB) has scheduled its First Quarter 2025 earnings release for April 16, 2025, after market close. The company will host a conference call to discuss the results on April 17, 2025, at 1:00 p.m. CT.
Participants can pre-register for either the conference call webcast or live call through provided links. Those unable to pre-register can dial in directly at 1-833-470-1428 (Passcode: 947933). A replay will be available until April 24, 2025, by calling 1-866-813-9403 (Passcode: 685290).
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.
Home BancShares (NYSE: HOMB) has announced two significant corporate actions. First, the Board of Directors has authorized an expansion of its stock repurchase program by adding 6,755,507 shares to the existing authorization, bringing the total available shares for repurchase to 20,000,000. This builds upon the company's ongoing repurchase program initially established in January 2008 and last modified in January 2021.
Additionally, HOMB declared a quarterly cash dividend of $0.195 per share, maintaining the same dividend level as the previous two quarters. The dividend will be paid on March 5, 2025, to shareholders of record as of February 12, 2025.
Home BancShares (NYSE: HOMB) has reported strong Q4 2024 financial results, achieving record milestones with $1 billion in revenue and $400 million in earnings for the year. The company posted Q4 net income of $100.6 million, or $0.51 per diluted share.
Key Q4 2024 highlights include:
- Net interest margin improved to 4.39% from 4.28% in Q3
- Total deposits increased to $17.15 billion from $16.71 billion in Q3
- Completed asset quality cleanup, particularly in Texas loans
- Recorded $16.7 million in credit loss expense due to Hurricanes Helene and Milton
The company paid off its $700.0 million Federal Reserve Bank Term Funding Program advance, improving net interest margin by six basis points. The efficiency ratio was 42.24% for Q4 2024. Non-performing assets to total assets remained stable at 0.63%, while the allowance for credit losses on loans was 1.87% of total loans.
Home BancShares (NYSE: HOMB) reported strong Q4 2024 results with net income of $100.6 million ($0.51 per diluted share). The company achieved significant milestones, including its first $400 million year in earnings and $1 billion in revenue. The quarter showed improvements in key metrics with net interest margin rising to 4.39% from 4.28% in Q3 2024.
The company completed an asset quality cleanup project, primarily focused on legacy loans from Happy Bank, recording $53.4 million in net charge-offs. Additionally, HOMB set aside a total hurricane reserve of $33.4 million due to Hurricanes Helene and Milton, with $110.9 million in loans on deferral. The company's allowance for credit losses stood at $275.9 million (1.87% of total loans) as of December 31, 2024.
Total loans were $14.76 billion and deposits reached $17.15 billion. The company maintains a strong capital position with a common equity tier 1 ratio of 15.1%.
Home BancShares (NYSE: HOMB) has scheduled its Fourth Quarter 2024 earnings release for January 15, 2025, after market close. The company will host a conference call to discuss results on January 16, 2025, at 1:00 p.m. CT. Centennial Bank's parent company has provided two pre-registration options for participants: a conference call webcast and a live call option. A replay will be available until January 23, 2025. The company operates through Centennial Bank with branches across Arkansas, Florida, South Alabama, Texas (operating as Happy State Bank), and New York City.
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.
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