Home BancShares, Inc. - HOMB STOCK NEWS

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.

Home BancShares, Inc. (HOMB) has announced a quarterly cash dividend of $0.165 per share, payable on March 9, 2022, to shareholders of record by February 16, 2022. This marks a 17.9% increase from the previous dividend of $0.14 paid over the last five quarters. The company expresses confidence in its capital strength amid pandemic challenges, with Chairman John Allison stating the increase reflects shareholders' deserving recognition.

Home BancShares (NYSE: HOMB) reported a net income of $73.4 million for Q4 2021, slightly down from $75.0 million in Q3 2021. Total revenue also decreased to $171.0 million from $173.8 million. Despite this, the company achieved record net income and earnings per share of $319.0 million and $1.94 for the entire year, respectively. The net interest margin fell to 3.42%, influenced by decreased loan balances. The company's asset quality remained strong, with non-performing assets at 0.29%. Home BancShares anticipates closing its acquisition of Happy Bancshares in Q1 2022, pending regulatory approval.

Home BancShares, Inc. (HOMB) has successfully completed a public offering of $300 million in 3.125% fixed-to-floating rate subordinated notes due 2032, garnering net proceeds of approximately $297.2 million after underwriting discounts. The funds will support various corporate needs, including repaying existing unsecured debt, funding the acquisition of Happy Bancshares, and facilitating growth for Centennial Bank. The offering was managed by Piper Sandler & Co., and involves forward-looking statements regarding economic conditions and potential risks related to the acquisition process.

Home BancShares, Inc. (NYSE: HOMB) has priced $300 million of 3.125% fixed-to-floating subordinated notes due 2032. Initially, the interest rate is set at 3.125% until January 30, 2027, after which it will reset quarterly based on a benchmark rate plus 182 basis points. Proceeds will support general corporate purposes, including repaying existing debt and growth investments. The offering is expected to close around January 18, 2022, subject to customary conditions, and will contribute to the Company's Tier 2 capital for regulatory purposes.

Home BancShares (HOMB) announced a public offering of $300 million in fixed-to-floating rate subordinated notes maturing in 2032. The proceeds will be used for various corporate purposes, including repaying existing debts and supporting growth at Centennial Bank, as well as potential share repurchases and acquisitions. Piper Sandler is the sole book-running manager for the offering. This announcement includes forward-looking statements with inherent risks, emphasizing that actual results may vary due to various economic and operational factors.

Home BancShares, Inc. (NYSE: HOMB) will report its Fourth Quarter 2021 earnings before market opening on January 20, 2022. Following the earnings release, the management will conduct a conference call to discuss results at 1:00 p.m. CT. Participants can pre-register for access to the live call or listen via phone. The bank operates through its subsidiary, Centennial Bank, offering a range of banking services and has branches in several states. The press release includes forward-looking statements about economic conditions and the potential impacts of the COVID-19 pandemic.