HOMB’s Unwavering Discipline, Strong Margins, Great Efficiency, Hard Work and Smart Investments Led to First Quarter Record Revenue and Profits

Rhea-AI Summary

Home BancShares, parent of Centennial Bank, announced record earnings for Q1 2021, with net income rising to $91.6 million, an increase of 11.99% from Q4 2020. Total revenue reached $193.4 million, reflecting strong operational performance. The company reported an efficiency ratio of 36.60% and a return on average assets (ROA) of 2.22%. Non-performing assets decreased to 0.38% of total assets, contributing to a solid financial position with a 14.30% Common Equity Tier 1 Capital ratio. Management highlighted effective customer service and strategic discipline as key drivers of success.

Positive

• Record net income of $91.6 million, up 11.99% from previous quarter.
• Total revenue increased to $193.4 million, reflecting strong growth.
• Return on Average Assets (ROA) improved to 2.22%.
• Efficiency ratio at 36.60%, indicating strong cost management.
• Common Equity Tier 1 Capital ratio at 14.30%, showing solid capital strength.

Negative

• Total loans decreased by approximately $442.2 million.
• Mortgage lending income declined to $8.2 million from $10.1 million in Q4 2020.

CONWAY, Ark., April 15, 2021 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ GS: HOMB), parent company of Centennial Bank, released record quarterly earnings today.

Highlights of the First Quarter of 2021:

Metric	Q1 2021			Q4 2020			Q3 2020			Q2 2020			Q1 2020
Net Income	$91.6 million			$81.8 million			$69.3 million			$62.8 million			$	507,000
Total Revenue (net)	$193.4 million			$181.9 million			$176.1 million			$173.7 million			$162.7 million
Income (loss) before income taxes	$120.5 million			$107.7 million			$90.4 million			$82.1 million			($2.4 million)
Pre-tax net income, excluding provision for credit losses (PPNR) (non-GAAP)(1)	$120.5 million			$107.7 million			$104.4 million			$102.7 million			$92.2 million
Pre-tax net income to total revenue (net)		62.32	%		59.19	%		51.32	%		47.25	%		-1.49	%
P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)		62.32	%		59.19	%		59.28	%		59.15	%		56.67	%
ROA		2.22	%		1.97	%		1.66	%		1.55	%		0.01	%
ROA (pre-tax net income, excluding provision for credit losses) (non-GAAP)(1)		2.92	%		2.60	%		2.50	%		2.53	%		2.45	%
ROA, excluding provision for credit losses		2.22	%		1.97	%		1.91	%		1.92	%		1.87	%
(non-GAAP)(1)
NIM		4.02	%		4.00	%		3.92	%		4.11	%		4.22	%
NIM, excluding PPP loans (non-GAAP)(1)		3.87	%		3.97	%		3.98	%		4.16	%		4.22	%
Purchase Accounting Accretion	$5.5 million			$5.7 million			$7.0 million			$7.0 million			$7.6 million
ROE		14.15	%		12.72	%		10.97	%		10.27	%		0.08	%
ROTCE (non-GAAP)(1)		22.90	%		20.96	%		18.29	%		17.40	%		0.14	%
Diluted Earnings Per Share	$	0.55		$	0.50		$	0.42		$	0.38		$	0.00
Non-Performing Assets to Total Assets		0.38	%		0.48	%		0.47	%		0.39	%		0.44	%
Common Equity Tier 1 Capital		14.30	%		13.40	%		12.60	%		12.00	%		11.50	%
Leverage		11.10	%		10.80	%		10.40	%		10.30	%		10.80	%
Tier 1 Capital		14.90	%		14.00	%		13.20	%		12.60	%		12.10	%
Total Risk-Based Capital		18.80	%		17.80	%		16.90	%		16.20	%		15.70	%
Allowance for Credit Losses to Total Loans		2.25	%		2.19	%		2.12	%		1.99	%		2.01	%
Allowance for Credit Losses to Total Loans, excluding PPP loans (non-GAAP)(1)		2.40	%		2.33	%		2.29	%		2.15	%		2.01	%

⁽¹⁾ Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

“Approximately $11 billion in loans at a yield of 5.56% including accretion, PPP income, and event income; a 36.60% efficiency ratio; a ‘never give up’ approach to charge-offs; starting to reap the benefits of investments; along with a record $91.6 million in net income is paying off handsomely for HOMB shareholders,” said John Allison, Chairman.

“Great results come down to customer service and extreme discipline. We communicate with our customers and we helped them through the PPP process and that results in a long-term trusting partnership,” said Tracy French, Centennial Bank President and Chief Executive Officer.

Operating Highlights

Net income and earnings per share were quarterly records for the Company. Net income increased $9.8 million, or 11.99%, to $91.6 million for the three-month period ended March 31, 2021, from $81.8 million for the three-month period ended December 31, 2020. Earnings per share increased $0.05 per share, or 10.00%, to $0.55 per share for the three-month period ended March 31, 2021, from $0.50 per share for the three-month period ended December 31, 2020.

During the first quarter of 2021, the Company did not record any credit loss expense. The Company’s provisioning model is closely tied to unemployment rate projections which have continued to improve since the fourth quarter of 2020. The Company determined that an additional provision for credit losses on loans was not necessary as the current level of the allowance for credit losses was considered adequate as of March 31, 2021. In addition, the Company determined that the current level of the unfunded commitment reserve was adequate and no additional provision for unfunded commitments was necessary.

Our net interest margin was 4.02% for the three-month period ended March 31, 2021 compared to 4.00% for the three-month period ended December 31, 2020. The yield on loans was 5.56% and 5.33% for the three months ended March 31, 2021 and December 31, 2020, respectively, as average loans decreased from $11.46 billion to $11.02 billion. Additionally, the rate on interest bearing deposits decreased to 0.33% as of March 31, 2021 from 0.44% as of December 31, 2020, with average balances of $9.55 billion and $9.59 billion, respectively.

As of March 31, 2021, we had $667.3 million of Paycheck Protection Program (PPP) loans outstanding. These loans are at 1.00% plus the accretion of the origination fee. Excluding PPP loans, our net interest margin (non-GAAP) for the three-month period ended March 31, 2021 was 3.87%.⁽¹⁾ The PPP loans had a 12-basis point accretive impact to the yield on loans, and the PPP loans were accretive to the net interest margin by 16 basis points. This was primarily due to approximately $313.8 million of the Company’s PPP loans being forgiven during the first quarter of 2021 as well as the acceleration of deferred fees for the loans that were forgiven. The $313.8 million of PPP loans forgiven during the first quarter of 2021 were partially offset by $289.4 million in new PPP loans originated during the first quarter of 2021. The deferred fee income increased from $6.9 million to $10.4 million for the three-month periods ended December 31, 2020 and March 31, 2021, respectively.

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

The effects of the COVID-19 pandemic continued to create a significant amount of excess liquidity in the market. As a result of this excess liquidity, we had an increase of $581.4 million of average interest-bearing cash balances in the first quarter of 2021 compared to the fourth quarter of 2020. This excess liquidity diluted the net interest margin by 16 basis points.

Purchase accounting accretion on acquired loans was $5.5 million and $5.7 million and average purchase accounting loan discounts were $43.9 million and $49.6 million for the three-month periods ended March 31, 2021 and December 31, 2020, respectively. Net amortization of time deposit premiums was $30,000 per quarter and net average remaining time deposit premiums were $115,000 and $146,000 for the three-month periods ended March 31, 2021 and December 31, 2020, respectively.

Net interest income on a fully taxable equivalent basis increased $142,000, or 0.09%, to $149.9 million for the three-month period ended March 31, 2021, from $149.8 million for the three-month period ended December 31, 2020. This increase in net interest income for the three-month period ended March 31, 2021 was the result of a $3.0 million decrease in interest expense, which was partially offset by a $2.8 million decrease in interest income. The $3.0 million decrease in interest expense was primarily the result of a $2.9 million decrease in interest expense on deposits and a $42,000 decrease in interest expense on FHLB borrowings. The $2.8 million decrease in interest income was primarily the result of a $2.5 million decrease in loan interest income, and a $465,000 net decrease in investment income.

The Company reported $45.3 million of non-interest income for the first quarter of 2021. The most important components of the first quarter non-interest income were $8.6 million from dividends from FHLB, FRB, FNBB and other, $8.2 million from mortgage lending income, $7.6 million from other service charges and fees, a $5.8 million adjustment for the increase in fair market value of marketable securities, $5.0 million from service charges on deposit accounts, and $8.0 million from other income. Included in the $8.6 million in dividends from FHLB, FRB, FNBB and other was $8.1 million in special dividends from equity investments. The Company is still currently involved in these investments; however, past performance does not guarantee future performance. The $8.0 million in other income includes a $5.1 million recovery on historic losses.

Mortgage lending income was $8.2 million for the three-month period ended March 31, 2021, compared to $10.1 million for the three-month period ended December 31, 2020. The housing market continues to benefit from the current low interest rate environment; however, the decrease in mortgage lending income from the fourth quarter of 2020 is the result of normal seasonal fluctuations and harsher winter weather in several of our markets.

Non-interest expense for the first quarter of 2021 was $72.9 million. The most important components of the first quarter non-interest expense were $42.1 million from salaries and employee benefits, $15.7 million in other expense and $9.2 million in occupancy and equipment expenses. For the first quarter of 2021, our efficiency ratio was 36.60%.

Financial Condition

Total loans receivable were $10.78 billion at March 31, 2021 compared to $11.22 billion at December 31, 2020. Total deposits were $13.51 billion at March 31, 2021 compared to $12.73 billion at December 31, 2020. Total assets were $17.24 billion at March 31, 2021 compared to $16.40 billion at December 31, 2020.

During the first quarter 2021, the Company experienced approximately $442.2 million in loan decline. Centennial CFG experienced $17.6 million of organic loan decline and had loans of $1.52 billion at March 31, 2021. Our legacy footprint experienced $400.2 million in organic loan decline and $24.4 million in PPP loan decline during the quarter.

Non-performing loans to total loans was 0.59% as of March 31, 2021 compared to 0.66% as of December 31, 2020. Non-performing assets to total assets decreased from 0.48% as of December 31, 2020 to 0.38% as of March 31, 2021. For the first quarter of 2021, net charge-offs were $2.5 million compared to net charge-offs of $2.8 million for the fourth quarter of 2020.

Non-performing loans at March 31, 2021 were $23.0 million, $35.1 million, $516,000, $2.0 million and $2.8 million in the Arkansas, Florida, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $63.4 million. Non-performing assets at March 31, 2021 were $24.9 million, $36.1 million, $550,000, $2.0 million and $2.8 million in the Arkansas, Florida, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $66.4 million.

The Company’s allowance for credit losses on loans was $242.9 million at March 31, 2021, or 2.25% of total loans, compared to the allowance for credit losses of $245.5 million, or 2.19% of total loans, at December 31, 2020. The Company’s allowance for credit losses on loans to total loans, excluding PPP loans (non-GAAP), was 2.40%⁽¹⁾ at March 31, 2021. As of March 31, 2021 and December 31, 2020, the Company’s allowance for credit losses on loans was 383.47% and 331.10% of its total non-performing loans, respectively.

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Stockholders’ equity was $2.65 billion at March 31, 2021 compared to $2.61 billion at December 31, 2020, an increase of approximately $39.4 million. The increase in stockholders’ equity was primarily associated with the $68.4 million increase in retained earnings which was partially offset by a $24.7 million decrease in accumulated other comprehensive income. Book value per common share was $16.02 at March 31, 2021 compared to $15.78 at December 31, 2020. Tangible book value per common share (non-GAAP) was $9.95⁽¹⁾ at March 31, 2021 compared to $9.70⁽¹⁾ at December 31, 2020, an increase of 10.45% on an annualized basis.   

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Branches

The Company currently has 76 branches in Arkansas, 78 branches in Florida, 5 branches in Alabama and one branch in New York City.

Conference Call

Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 ET) on Thursday, April 15, 2021. We encourage all participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10153260/e502592c38. Callers who pre-register will be given dial-in instructions and a unique PIN to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be automatically scheduled as an event in your Outlook calendar.

Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-877-508-9586 and asking for the Home BancShares conference call. A replay of the call will be available by calling 1-877-344-7529, Passcode: 10153260, which will be available until April 22, 2021 at 10:59 p.m. CT (11:59 ET). Internet access to the call will be available live or in recorded version on the Company's website at www.homebancshares.com under “Investor Relations” for 12 months.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company’s management uses these non-GAAP financial measures--including net income (earnings), as adjusted; pre-tax net income, excluding provision for credit losses; pre-tax, pre-provision, profit percentage; diluted earnings per common share, as adjusted; return on average assets, as adjusted; return on average assets excluding intangible amortization; return on average assets (pre-tax net income, excluding provision for credit losses); return on average assets, excluding provision for credit losses; return on average common equity, as adjusted; return on average tangible common equity; return on average tangible common equity excluding intangible amortization; return on average tangible common equity, as adjusted; efficiency ratio, as adjusted; net interest margin, excluding PPP loans; allowance for credit losses to total loans, excluding PPP loans; tangible book value per common share and tangible common equity to tangible assets--to provide meaningful supplemental information regarding our performance. These measures typically adjust GAAP performance measures to include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant items or transactions (including the effect of the PPP loans) that management believes are not indicative of the Company’s primary business operating results. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s business. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

General

This release may contain forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following:  economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment; disruptions, uncertainties and related effects on our business and operations as a result of the ongoing coronavirus (COVID-19) pandemic and measures that have been or may be implemented or imposed in response to the pandemic, including the impact on, among other things, credit quality and liquidity; the ability to identify, complete and successfully integrate new acquisitions; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations, including those in response to the COVID-19 pandemic; technological changes and cybersecurity risks; the effects of changes in accounting policies and practices; changes in governmental monetary and fiscal policies; political instability; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; changes in the assumptions used in making the forward-looking statements; and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021.

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”

FOR MORE INFORMATION CONTACT:
Donna Townsell
Director of Investor Relations
Home BancShares, Inc.
(501) 328-4625

Home BancShares, Inc.
Consolidated End of Period Balance Sheets
(Unaudited)

		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
(In thousands)		2021				2020				2020				2020				2020
ASSETS
Cash and due from banks		$	218,814			$	242,173			$	144,197			$	185,047			$	147,200
Interest-bearing deposits with other banks			2,259,734				1,021,615				899,140				1,030,609				424,235
Cash and cash equivalents			2,478,548				1,263,788				1,043,337				1,215,656				571,435
Investment securities - available-for-sale, net of allowance for credit losses			2,539,123				2,473,781				2,361,900				2,238,005				2,098,000
Loans receivable			10,778,493				11,220,721				11,691,470				11,955,743				11,384,982
Allowance for credit losses			(242,932	)			(245,473	)			(248,224	)			(238,340	)			(228,923	)
Loans receivable, net			10,535,561				10,975,248				11,443,246				11,717,403				11,156,059
Bank premises and equipment, net			278,620				278,614				280,364				279,498				281,795
Foreclosed assets held for sale			3,004				4,420				4,322				6,292				8,204
Cash value of life insurance			103,599				103,519				102,989				102,443				103,120
Accrued interest receivable			55,495				60,528				72,599				80,274				50,295
Deferred tax asset, net			77,145				70,249				75,167				74,333				77,110
Goodwill			973,025				973,025				973,025				973,025				973,025
Core deposit and other intangibles			29,307				30,728				32,149				33,569				35,055
Other assets			166,814				164,904				160,660				174,908				177,634
Total assets		$	17,240,241			$	16,398,804			$	16,549,758			$	16,895,406			$	15,531,732
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Deposits:
Demand and non-interest-bearing		$	3,859,722			$	3,266,753			$	3,207,967			$	3,413,727			$	2,425,036
Savings and interest-bearing transaction accounts			8,477,208				8,212,240				8,011,200				7,970,979				7,149,644
Time deposits			1,175,664				1,246,797				1,718,299				1,793,230				1,940,234
Total deposits			13,512,594				12,725,790				12,937,466				13,177,936				11,514,914
Federal funds purchased			-				-				-				-				-
Securities sold under agreements to repurchase			162,929				168,931				158,447				162,858				126,884
FHLB and other borrowed funds			400,000				400,000				403,428				531,432				951,436
Accrued interest payable and other liabilities			148,999				127,999				139,485				161,095				138,479
Subordinated debentures			370,515				370,326				370,133				369,939				369,748
Total liabilities			14,595,037				13,793,046				14,008,959				14,403,260				13,101,461
Stockholders' equity
Common stock			1,651				1,651				1,652				1,652				1,651
Capital surplus			1,516,286				1,520,617				1,520,103				1,518,631				1,516,151
Retained earnings			1,107,818				1,039,370				980,699				932,856				891,498
Accumulated other comprehensive income			19,449				44,120				38,345				39,007				20,971
Total stockholders' equity			2,645,204				2,605,758				2,540,799				2,492,146				2,430,271
Total liabilities and stockholders' equity		$	17,240,241			$	16,398,804			$	16,549,758			$	16,895,406			$	15,531,732

Home BancShares, Inc.
Consolidated Statements of Income
(Unaudited)

		Quarter Ended																				Three Months Ended
		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,				Mar. 31,
(In thousands)		2021				2020				2020				2020				2020				2021				2020
Interest income
Loans		$	150,917			$	153,407			$	154,787			$	158,996			$	158,148			$	150,917			$	158,148
Investment securities
Taxable			6,253				6,900				7,227				8,693				9,776				6,253				9,776
Tax-exempt			5,071				4,979				4,367				3,698				3,114				5,071				3,114
Deposits - other banks			410				270				252				211				1,116				410				1,116
Federal funds sold			-				-				-				-				21				-				21
Total interest income			162,651				165,556				166,633				171,598				172,175				162,651				172,175
Interest expense
Interest on deposits			7,705				10,596				13,200				15,116				24,198				7,705				24,198
Federal funds purchased			-				-				-				-				13				-				13
FHLB borrowed funds			1,875				1,917				2,235				2,656				2,698				1,875				2,698
Securities sold under agreements to repurchase			190				208				237				260				462				190				462
Subordinated debentures			4,793				4,810				4,823				4,899				5,079				4,793				5,079
Total interest expense			14,563				17,531				20,495				22,931				32,450				14,563				32,450
Net interest income			148,088				148,025				146,138				148,667				139,725				148,088				139,725
Provision for credit losses			-				-				14,000				20,655				94,598				-				94,598
Net interest income after provision for credit losses			148,088				148,025				132,138				128,012				45,127				148,088				45,127
Non-interest income
Service charges on deposit accounts			5,002				5,544				4,910				4,296				6,631				5,002				6,631
Other service charges and fees			7,608				8,425				8,539				7,666				6,056				7,608				6,056
Trust fees			522				420				378				397				438				522				438
Mortgage lending income			8,167				10,071				10,177				6,196				2,621				8,167				2,621
Insurance commissions			492				366				271				533				678				492				678
Increase in cash value of life insurance			502				534				548				558				560				502				560
Dividends from FHLB, FRB, FNBB & other			8,609				967				3,433				230				7,842				8,609				7,842
Gain on SBA loans			-				304				-				-				341				-				341
(Loss) gain on branches, equipment and other assets, net			(29	)			217				(27	)			54				82				(29	)			82
Gain on OREO, net			401				150				470				235				277				401				277
Gain on securities, net			219				-				-				-				-				219				-
Fair value adjustment for marketable securities			5,782				4,271				(1,350	)			919				(5,818	)			5,782				(5,818	)
Other income			8,001				2,616				2,602				3,939				3,219				8,001				3,219
Total non-interest income			45,276				33,885				29,951				25,023				22,927				45,276				22,927
Non-interest expense
Salaries and employee benefits			42,059				43,022				41,511				40,088				39,329				42,059				39,329
Occupancy and equipment			9,237				9,801				9,566				10,172				8,873				9,237				8,873
Data processing expense			5,870				5,171				4,921				4,614				4,326				5,870				4,326
Other operating expenses			15,700				16,247				15,714				16,084				17,946				15,700				17,946
Total non-interest expense			72,866				74,241				71,712				70,958				70,474				72,866				70,474
Income (loss) before income taxes			120,498				107,669				90,377				82,077				(2,420	)			120,498				(2,420	)
Income tax expense (benefit)			28,896				25,875				21,057				19,250				(2,927	)			28,896				(2,927	)
Net income		$	91,602			$	81,794			$	69,320			$	62,827			$	507			$	91,602			$	507

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

		Quarter Ended																				Three Months Ended
		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,				Mar. 31,
(Dollars and shares in thousands, except per share data)		2021				2020				2020				2020				2020				2021				2020
PER SHARE DATA
Diluted earnings per common share		$	0.55			$	0.50			$	0.42			$	0.38			$	-			$	0.55			$	-
Diluted earnings per common share, as adjusted, excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses (non-GAAP)(1)			0.47				0.48				0.47				0.47				0.43				0.47				0.43
Basic earnings per common share			0.55				0.50				0.42				0.38				-				0.55				-
Dividends per share - common			0.14				0.14				0.13				0.13				0.13				0.14				0.13
Book value per common share			16.02				15.78				15.38				15.09				14.72				16.02				14.72
Tangible book value per common share (non-GAAP)(1)			9.95				9.70				9.30				8.99				8.61				9.95				8.61
STOCK INFORMATION
Average common shares outstanding			165,257				165,119				165,200				165,163				166,014				165,257				166,014
Average diluted shares outstanding			165,446				165,119				165,200				165,163				166,014				165,446				166,014
End of period common shares outstanding			165,141				165,095				165,163				165,206				165,148				165,141				165,148
ANNUALIZED PERFORMANCE METRICS
Return on average assets			2.22	%			1.97	%			1.66	%			1.55	%			0.01	%			2.22	%			0.01	%
Return on average assets excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROA, as adjusted) (non-GAAP)(1)			1.88	%			1.90	%			1.88	%			1.93	%			1.88	%			1.88	%			1.88	%
Return on average assets excluding intangible amortization (non-GAAP)(1)			2.39	%			2.13	%			1.80	%			1.68	%			0.05	%			2.39	%			0.05	%
Return on average common equity			14.15	%			12.72	%			10.97	%			10.27	%			0.08	%			14.15	%			0.08	%
Return on average common equity excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROE, as adjusted) (non-GAAP)(1)			11.96	%			12.23	%			12.39	%			12.77	%			11.48	%			11.96	%			11.48	%
Return on average tangible common equity (non-GAAP)(1)			22.90	%			20.96	%			18.29	%			17.40	%			0.14	%			22.90	%			0.14	%
Return on average tangible common equity excluding intangible amortization (non-GAAP)(1)			23.16	%			21.22	%			18.56	%			17.70	%			0.44	%			23.16	%			0.44	%
Return on average tangible common equity excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROTCE, as adjusted) (non-GAAP)(1)			19.35	%			20.15	%			20.66	%			21.63	%			19.22	%			19.35	%			19.22	%

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

		Quarter Ended																				Three Months Ended
(Dollars and shares in thousands,		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,				Mar. 31,
except per share data)		2021				2020				2020				2020				2020				2021				2020
Efficiency ratio			36.60	%			39.64	%			39.56	%			39.67	%			42.08	%			36.60	%			42.08	%
Efficiency ratio, as adjusted (non-GAAP)(1)			40.67	%			40.67	%			40.08	%			39.38	%			41.37	%			40.67	%			41.37	%
Net interest margin - FTE			4.02	%			4.00	%			3.92	%			4.11	%			4.22	%			4.02	%			4.22	%
Net interest margin - FTE, excluding PPP loans (non-GAAP)(1)			3.87	%			3.97	%			3.98	%			4.16	%			4.22	%			3.87	%			4.22	%
Fully taxable equivalent adjustment		$	1,857			$	1,778			$	1,576			$	1,434			$	1,227			$	1,857			$	1,227
Total revenue (net)			193,364				181,910				176,089				173,690				162,652				193,364				162,652
Pre-tax net income, excluding provision for credit losses (PPNR) (non-GAAP)(1)			120,498				107,669				104,377				102,732				92,178				120,498				92,178
Pre-tax net income to total revenue (net)			62.32	%			59.19	%			51.32	%			47.25	%			-1.49	%			62.32	%			-1.49	%
P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)			62.32	%			59.19	%			59.28	%			59.15	%			56.67	%			62.32	%			56.67	%
Net income, excluding provision for credit losses			91,602				81,794				79,661				78,084				70,382				91,602				70,382
Return on average assets (pre-tax net income, excluding provision for credit losses) (non-GAAP)(1)			2.92	%			2.60	%			2.50	%			2.53	%			2.45	%			2.92	%			2.45	%
Return on average assets, excluding provision for credit losses (non-GAAP)(1)			2.22	%			1.97	%			1.91	%			1.92	%			1.87	%			2.22	%			1.87	%
Total purchase accounting accretion			5,485				5,736				6,957				7,036				7,647				5,485				7,647
Average purchase accounting loan discounts			43,940				49,563				55,835				62,822				69,365				43,940				69,365
OTHER OPERATING EXPENSES
Advertising		$	1,046			$	1,076			$	902			$	795			$	1,226			$	1,046			$	1,226
Merger and acquisition expenses			-				-				-				-				711				-				711
Amortization of intangibles			1,421				1,421				1,420				1,486				1,517				1,421				1,517
Electronic banking expense			2,238				2,282				2,426				2,054				1,715				2,238				1,715
Directors' fees			383				359				429				412				424				383				424
Due from bank service charges			249				254				259				239				223				249				223
FDIC and state assessment			1,363				1,493				1,607				1,846				1,548				1,363				1,548
Insurance			781				795				766				711				746				781				746
Legal and accounting			846				790				1,235				1,278				919				846				919
Other professional fees			1,613				1,528				1,661				1,735				3,226				1,613				3,226
Operating supplies			487				440				460				553				535				487				535
Postage			338				315				328				313				327				338				327
Telephone			346				347				321				310				324				346				324
Other expense			4,589				5,147				3,900				4,352				4,505				4,589				4,505
Total other operating expenses		$	15,700			$	16,247			$	15,714			$	16,084			$	17,946			$	15,700			$	17,946

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
(Dollars in thousands)		2021				2020				2020				2020				2020
BALANCE SHEET RATIOS
Total loans to total deposits			79.77	%			88.17	%			90.37	%			90.73	%			98.87	%
Common equity to assets			15.34	%			15.89	%			15.35	%			14.75	%			15.65	%
Tangible common equity to tangible assets (non-GAAP)(1)			10.12	%			10.41	%			9.88	%			9.35	%			9.79	%
LOANS RECEIVABLE
Real estate
Commercial real estate loans
Non-farm/non-residential		$	4,289,142			$	4,429,060			$	4,342,141			$	4,325,795			$	4,357,007
Construction/land development			1,612,973				1,562,298				1,748,928				1,818,151				1,892,394
Agricultural			113,382				114,431				89,476				105,554				89,630
Residential real estate loans
Residential 1-4 family			1,437,546				1,536,257				1,665,628				1,730,716				1,775,610
Multifamily residential			377,661				536,538				491,380				482,635				411,960
Total real estate			7,830,704				8,178,584				8,337,553				8,462,851				8,526,601
Consumer			839,819				864,690				883,568				851,344				852,174
Commercial and industrial			1,794,787				1,896,442				2,161,818				2,228,816				1,759,752
Agricultural			65,017				66,869				85,365				80,023				64,582
Other			248,166				214,136				223,166				332,709				181,873
Loans receivable		$	10,778,493			$	11,220,721			$	11,691,470			$	11,955,743			$	11,384,982
Paycheck Protection Program (PPP) loans (included in total loans receivable)			667,316				691,747				848,745				848,628				-
ALLOWANCE FOR CREDIT LOSSES
Balance, beginning of period		$	245,473			$	248,224			$	238,340			$	228,923			$	102,122
Impact of adopting ASC 326			-				-				-				-				43,988
Allowance for credit losses on acquired loans			-				-				-				-				357
Loans charged off			3,047				3,040				4,599				2,582				4,265
Recoveries of loans previously charged off			506				289				483				558				740
Net loans charged off			2,541				2,751				4,116				2,024				3,525
Provision for credit losses on loans			-				-				14,000				11,441				85,981
Balance, end of period		$	242,932			$	245,473			$	248,224			$	238,340			$	228,923
Net charge-offs to average total loans			0.09	%			0.10	%			0.14	%			0.07	%			0.13	%
Allowance for credit losses to total loans			2.25	%			2.19	%			2.12	%			1.99	%			2.01	%
Allowance for credit losses to total loans, excluding PPP loans			2.40	%			2.33	%			2.29	%			2.15	%			2.01	%
NON-PERFORMING ASSETS
Non-performing loans
Non-accrual loans		$	59,142			$	64,528			$	65,148			$	52,074			$	52,131
Loans past due 90 days or more			4,209				9,610				8,635				7,824				7,760
Total non-performing loans			63,351				74,138				73,783				59,898				59,891
Other non-performing assets
Foreclosed assets held for sale, net			3,004				4,420				4,322				6,292				8,204
Other non-performing assets			-				-				247				247				447
Total other non-performing assets			3,004				4,420				4,569				6,539				8,651
Total non-performing assets		$	66,355			$	78,558			$	78,352			$	66,437			$	68,542
Allowance for credit losses for loans to non-performing loans			383.47	%			331.10	%			336.42	%			397.91	%			382.23	%
Non-performing loans to total loans			0.59	%			0.66	%			0.63	%			0.50	%			0.53	%
Non-performing assets to total assets			0.38	%			0.48	%			0.47	%			0.39	%			0.44	%

(1) Calculation of this metric and the reconciliation to GAAP is included in the schedules accompanying this release.

Home BancShares, Inc.
Consolidated Net Interest Margin
(Unaudited)

		Three Months Ended
		March 31, 2021												December 31, 2020
		Average				Income/				Yield/				Average				Income/				Yield/
(Dollars in thousands)		Balance				Expense				Rate				Balance				Expense				Rate
ASSETS
Earning assets
Interest-bearing balances due from banks		$	1,610,463			$	410				0.10	%		$	1,029,047			$	270				0.10	%
Federal funds sold			119				-				0.00	%			5				-				0.00	%
Investment securities - taxable			1,637,061				6,253				1.55	%			1,615,214				6,900				1.70	%
Investment securities - non-taxable - FTE			848,158				6,732				3.22	%			798,402				6,550				3.26	%
Loans receivable - FTE			11,023,139				151,113				5.56	%			11,457,713				153,614				5.33	%
Total interest-earning assets			15,118,940				164,508				4.41	%			14,900,381				167,334				4.47	%
Non-earning assets			1,599,950												1,592,685
Total assets		$	16,718,890											$	16,493,066
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts		$	8,338,791			$	4,716				0.23	%		$	8,109,111			$	5,813				0.29	%
Time deposits			1,209,431				2,989				1.00	%			1,483,049				4,783				1.28	%
Total interest-bearing deposits			9,548,222				7,705				0.33	%			9,592,160				10,596				0.44	%
Federal funds purchased			-				-				0.00	%			-				-				0.00	%
Securities sold under agreement to repurchase			159,697				190				0.48	%			156,198				208				0.53	%
FHLB borrowed funds			400,000				1,875				1.90	%			400,001				1,917				1.91	%
Subordinated debentures			370,421				4,793				5.25	%			370,232				4,810				5.17	%
Total interest-bearing liabilities			10,478,340				14,563				0.56	%			10,518,591				17,531				0.66	%
Non-interest bearing liabilities
Non-interest bearing deposits			3,480,050												3,279,708
Other liabilities			134,882												137,516
Total liabilities			14,093,272												13,935,815
Shareholders' equity			2,625,618												2,557,251
Total liabilities and shareholders' equity		$	16,718,890											$	16,493,066
Net interest spread											3.85	%											3.81	%
Net interest income and margin - FTE						$	149,945				4.02	%						$	149,803				4.00	%

Home BancShares, Inc.
Consolidated Net Interest Margin
(Unaudited)

		Three Months Ended
		March 31, 2021												March 31, 2020
		Average				Income/				Yield/				Average				Income/				Yield/
(Dollars in thousands)		Balance				Expense				Rate				Balance				Expense				Rate
ASSETS
Earning assets
Interest-bearing balances due from banks		$	1,610,463			$	410				0.10	%		$	331,038			$	1,116				1.36	%
Federal funds sold			119				-				0.00	%			5,218				21				1.62	%
Investment securities - taxable			1,637,061				6,253				1.55	%			1,710,288				9,776				2.30	%
Investment securities - non-taxable - FTE			848,158				6,732				3.22	%			374,198				4,090				4.40	%
Loans receivable - FTE			11,023,139				151,113				5.56	%			11,007,958				158,399				5.79	%
Total interest-earning assets			15,118,940				164,508				4.41	%			13,428,700				173,402				5.19	%
Non-earning assets			1,599,950												1,704,775
Total assets		$	16,718,890											$	15,133,475
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts		$	8,338,791			$	4,716				0.23	%		$	7,041,303			$	15,803				0.90	%
Time deposits			1,209,431				2,989				1.00	%			1,943,721				8,395				1.74	%
Total interest-bearing deposits			9,548,222				7,705				0.33	%			8,985,024				24,198				1.08	%
Federal funds purchased			-				-				0.00	%			6,264				13				0.83	%
Securities sold under agreement to repurchase			159,697				190				0.48	%			138,180				462				1.34	%
FHLB borrowed funds			400,000				1,875				1.90	%			623,525				2,698				1.74	%
Subordinated debentures			370,421				4,793				5.25	%			369,652				5,079				5.53	%
Total interest-bearing liabilities			10,478,340				14,563				0.56	%			10,122,645				32,450				1.29	%
Non-interest bearing liabilities
Non-interest bearing deposits			3,480,050												2,410,583
Other liabilities			134,882												119,143
Total liabilities			14,093,272												12,652,371
Shareholders' equity			2,625,618												2,481,104
Total liabilities and shareholders' equity		$	16,718,890											$	15,133,475
Net interest spread											3.85	%											3.90	%
Net interest income and margin - FTE						$	149,945				4.02	%						$	140,952				4.22	%

Home BancShares, Inc.
Non-GAAP Reconciliations
(Unaudited)

		Quarter Ended																				Three Months Ended
(Dollars and shares in thousands,		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,						Mar. 31,
except per share data)		2021				2020				2020				2020				2020				2021						2020
EARNINGS, AS ADJUSTED
GAAP net income available to common shareholders (A)		$	91,602			$	81,794			$	69,320			$	62,827			$	507			$	91,602					$	507
Pre-tax adjustments
Fair value adjustment for marketable securities			(5,782	)			(4,271	)			1,350				(919	)			5,818				(5,782	)					5,818
Special dividend from equity investment			(8,073	)			-				(3,181	)			-				(7,004	)			(8,073	)					(7,004	)
Gain on securities			(219	)			-				-				-				-				(219	)					-
Recoveries on historic losses			(5,107	)			-				-				-				-				(5,107	)					-
Provision for credit losses			-				-				14,000				20,655				94,598				-						94,598
Branch write-off expense			-				-				-				981				-				-						-
Outsourced special project expense			-				-				-				-				1,092				-						1,092
Merger and acquisition expenses			-				-				-				-				711				-						711
Total pre-tax adjustments			(19,181	)			(4,271	)			12,169				20,717				95,215				(19,181	)					95,215
Tax-effect of adjustments			(5,013	)			(1,116	)			3,181				5,414				24,884				(5,013	)					24,884
Total adjustments after-tax (B)			(14,168	)			(3,155	)			8,988				15,303				70,331				(14,168	)					70,331
Earnings, as adjusted (C)		$	77,434			$	78,639			$	78,308			$	78,130			$	70,838			$	77,434					$	70,838
Average diluted shares outstanding (D)			165,446				165,119				165,200				165,163				166,014				165,446						166,014
GAAP diluted earnings per share: (A/D)		$	0.55			$	0.50			$	0.42			$	0.38			$	-			$	0.55					$	-
Adjustments after-tax: (B/D)			(0.08	)			(0.02	)			0.05				0.09				0.43				(0.08	)					0.43
Diluted earnings per common share, as adjusted, excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (C/D)		$	0.47			$	0.48			$	0.47			$	0.47			$	0.43			$	0.47					$	0.43
ANNUALIZED RETURN ON AVERAGE ASSETS
Return on average assets: (A/G)			2.22	%			1.97	%			1.66	%			1.55	%			0.01	%			2.22	%					0.01	%
Return on average assets excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROA, as adjusted) ((A+F)/G)			1.88	%			1.90	%			1.88	%			1.93	%			1.88	%			1.88	%					1.88	%
Return on average assets (pre-tax net income, excluding provision for credit losses): (B/G)			2.92	%			2.60	%			2.50	%			2.53	%			2.45	%			2.92	%					2.45	%
Return on average assets, excluding provision for credit losses: (C/G)			2.22	%			1.97	%			1.91	%			1.92	%			1.87	%			2.22	%					1.87	%
Return on average assets excluding intangible amortization: ((A+E)/(G-H))			2.39	%			2.13	%			1.80	%			1.68	%			0.05	%			2.39	%					0.05	%
GAAP net income available to common shareholders (A)		$	91,602			$	81,794			$	69,320			$	62,827			$	507			$	91,602					$	507
Pre-tax net income, excluding provision for credit losses (B)			120,498				107,669				104,377				102,732				92,178				120,498						92,178
Net income, excluding provision for credit losses (C)			91,602				81,794				79,661				78,084				70,382				91,602						70,382
Amortization of intangibles (D)			1,421				1,421				1,420				1,486				1,517				1,421						1,517
Amortization of intangibles after-tax (E)			1,049				1,049				1,049				1,098				1,121				1,049						1,121
Adjustments after-tax (F)			(14,168	)			(3,155	)			8,988				15,303				70,331				(14,168	)					70,331
Average assets (G)			16,718,890				16,493,066				16,594,495				16,319,206				15,133,475				16,718,890						15,133,475
Average goodwill, core deposits & other intangible assets (H)			1,003,011				1,004,432				1,005,864				1,007,307				999,004				1,003,011						999,004

Home BancShares, Inc.
Non-GAAP Reconciliations
(Unaudited)

		Quarter Ended																				Three Months Ended
		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,				Mar. 31,
(Dollars and shares in thousands, except per share data)		2021				2020				2020				2020				2020				2021				2020
ANNUALIZED RETURN ON AVERAGE COMMON EQUITY
Return on average common equity: (A/D)			14.15	%			12.72	%			10.97	%			10.27	%			0.08	%			14.15	%			0.08	%
Return on average common equity excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROE, as adjusted) ((A+C)/D)			11.96	%			12.23	%			12.39	%			12.77	%			11.48	%			11.96	%			11.48	%
Return on average tangible common equity: (A/(D-E))			22.90	%			20.96	%			18.29	%			17.40	%			0.14	%			22.90	%			0.14	%
Return on average tangible common equity excluding intangible amortization: (B/(D-E))			23.16	%			21.22	%			18.56	%			17.70	%			0.44	%			23.16	%			0.44	%
Return on average tangible common equity excluding fair value adjustment for marketable securities, special dividend from equity investment, gain on securities, recoveries on historic losses, provision for credit losses, branch write-off expense, outsourced special project expense & merger and acquisition expenses: (ROTCE, as adjusted) ((A+C)/(D-E))			19.35	%			20.15	%			20.66	%			21.63	%			19.22	%			19.35	%			19.22	%
GAAP net income available to common shareholders (A)		$	91,602			$	81,794			$	69,320			$	62,827			$	507			$	91,602			$	507
Earnings excluding intangible amortization (B)			92,651				82,843				70,369				63,925				1,628				92,651				1,628
Adjustments after-tax (C)			(14,168	)			(3,155	)			8,988				15,303				70,331				(14,168	)			70,331
Average common equity (D)			2,625,618				2,557,251				2,513,792				2,459,941				2,481,104				2,625,618				2,481,104
Average goodwill, core deposits & other intangible assets (E)			1,003,011				1,004,432				1,005,864				1,007,307				999,004				1,003,011				999,004
EFFICIENCY RATIO
Efficiency ratio: ((C-E)/(A+B+D))			36.60	%			39.64	%			39.56	%			39.67	%			42.08	%			36.60	%			42.08	%
Efficiency ratio, as adjusted: ((C-E-G)/(A+B+D-F))			40.67	%			40.67	%			40.08	%			39.38	%			41.37	%			40.67	%			41.37	%
Net interest income (A)		$	148,088			$	148,025			$	146,138			$	148,667			$	139,725			$	148,088			$	139,725
Non-interest income (B)			45,276				33,885				29,951				25,023				22,927				45,276				22,927
Non-interest expense (C)			72,866				74,241				71,712				70,958				70,474				72,866				70,474
Fully taxable equivalent adjustment (D)			1,857				1,778				1,576				1,434				1,227				1,857				1,227
Amortization of intangibles (E)			1,421				1,421				1,420				1,486				1,517				1,421				1,517
Adjustments:
Non-interest income:
Fair value adjustment for marketable securities		$	5,782			$	4,271			$	(1,350	)		$	919			$	(5,818	)		$	5,782			$	(5,818	)
Gain (loss) on OREO			401				150				470				235				277				401				277
Gain (loss) on branches, equipment and other assets, net			(29	)			217				(27	)			54				82				(29	)			82
Special dividend from equity investment			8,073				-				3,181				-				7,004				8,073				7,004
Gain (loss) on securities			219				-				-				-				-				219				-
Recoveries on historic losses			5,107				-				-				-				-				5,107				-
Total non-interest income adjustments (F)		$	19,553			$	4,638			$	2,274			$	1,208			$	1,545			$	19,553			$	1,545
Non-interest expense:
Branch write-off expense		$	-			$	-			$	-			$	981			$	-			$	-			$	-
FDIC Small Bank Assessment Credit			-				-				-				-				-				-				-
Merger Expenses			-				-				-				-				711				-				711
Hurricane damage expense			-				-				-				-				-				-				-
Outsourced special project expense			-				-				-				-				1,092				-				1,092
Total non-interest expense adjustments (G)		$	-			$	-			$	-			$	981			$	1,803			$	-			$	1,803
ANNUALIZED NET INTEREST MARGIN
Net interest margin: A/C			4.02	%			4.00	%			3.92	%			4.11	%			4.22	%			4.02	%			4.22	%
Net interest margin, excluding PPP loans: B/D			3.87	%			3.97	%			3.98	%			4.16	%			4.22	%			3.87	%			4.22	%
Net interest income - FTE (A)		$	149,945			$	149,803			$	147,714			$	150,101			$	140,952			$	149,945			$	140,952
PPP loan interest & discount accretion income			11,878				8,841				5,943				4,450				-				11,878				-
Net interest income - FTE, excluding PPP loans (B)		$	138,067			$	140,962			$	141,771			$	145,651			$	140,952			$	138,067			$	140,952
Average interest-earning assets (C)		$	15,118,940			$	14,900,381			$	14,975,146			$	14,678,465			$	13,428,700			$	15,118,940			$	13,428,700
Average PPP loans			633,790				775,861				821,977				585,946				-				633,790				-
Average interest-earning assets, excluding PPP loans (D)		$	14,485,150			$	14,124,520			$	14,153,169			$	14,092,519			$	13,428,700			$	14,485,150			$	13,428,700

Home BancShares, Inc.
Non-GAAP Reconciliations
(Unaudited)

		Quarter Ended																				Three Months Ended
(Dollars and shares in thousands,		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Mar. 31,						Mar. 31,
except per share data)		2021				2020				2020				2020				2020				2021						2020
Pre-tax net income		$	120,498			$	107,669			$	90,377			$	82,077			$	(2,420	)		$	120,498					$	(2,420	)
Provision for credit losses			-				-				14,000				20,655				94,598				-						94,598
Pre-tax net income, excluding provision for credit losses (PPNR) (A)		$	120,498			$	107,669			$	104,377			$	102,732			$	92,178			$	120,498					$	92,178
Total revenue (net) (B)			193,364				181,910				176,089				173,690				162,652				193,364						162,652
Pre-tax net income to total revenue (net)			62.32	%			59.19	%			51.32	%			47.25	%			-1.49	%			62.32	%					-1.49	%
P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net))			62.32	%			59.19	%			59.28	%			59.15	%			56.67	%			62.32	%					56.67	%
		Quarter Ended
		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
(Dollars in thousands)		2021				2020				2020				2020				2020
TANGIBLE BOOK VALUE PER COMMON SHARE
Book value per common share: (A/B)		$	16.02			$	15.78			$	15.38			$	15.09			$	14.72
Tangible book value per common share: ((A-C-D)/B)			9.95				9.70				9.30				8.99				8.61
Total stockholders' equity (A)		$	2,645,204			$	2,605,758			$	2,540,799			$	2,492,146			$	2,430,271
End of period common shares outstanding (B)			165,141				165,095				165,163				165,206				165,148
Goodwill (C)			973,025				973,025				973,025				973,025				973,025
Core deposit and other intangibles (D)			29,307				30,728				32,149				33,569				35,055
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS
Equity to assets: (B/A)			15.34	%			15.89	%			15.35	%			14.75	%			15.65	%
Tangible common equity to tangible assets: ((B-C-D)/(A-C-D))			10.12	%			10.41	%			9.88	%			9.35	%			9.79	%
Total assets (A)		$	17,240,241			$	16,398,804			$	16,549,758			$	16,895,406			$	15,531,732
Total stockholders' equity (B)			2,645,204				2,605,758				2,540,799				2,492,146				2,430,271
Goodwill (C)			973,025				973,025				973,025				973,025				973,025
Core deposit and other intangibles (D)			29,307				30,728				32,149				33,569				35,055

 

FAQ

What are the key financial highlights for Home BancShares in Q1 2021?

Home BancShares reported a record net income of $91.6 million and total revenue of $193.4 million for Q1 2021.

How did Home BancShares' earnings per share change in Q1 2021?

Earnings per share increased to $0.55, up 10% from $0.50 in Q4 2020.

What was the Return on Assets (ROA) for Home BancShares in Q1 2021?

The return on average assets for Q1 2021 was 2.22%.

How much did total loans decrease for Home BancShares in Q1 2021?

Total loans decreased by approximately $442.2 million in Q1 2021.

What is the efficiency ratio reported by Home BancShares for Q1 2021?

The efficiency ratio for Q1 2021 was 36.60%.