EXHIBIT 99.1

Home BancShares, Inc. Announces Record Quarterly Loan Originations And Maintains Outstanding Performance Ratios in All Areas

CONWAY, Ark., July 19, 2018 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ:HOMB), parent company of Centennial Bank, today announced record quarterly loan originations of $957.9 million with a loan yield of 5.66% resulting in $198.8 million of organic loan growth.   The Company reported record quarterly profit of $76.0 million, record pre-tax income of $100.3 million and record diluted earnings per share of $0.44 per share.  Additionally, the Company’s performance ratios showed continued improvement with a net interest margin of 4.47%, return on average assets of 2.13%, return on average common equity of 13.54%, return on average tangible common equity excluding intangible amortization (non-GAAP)

1 of 24.27%, and an efficiency ratio of 36.74%. 

“I have no complaints about our results for this quarter.  They were outstanding,” said John Allison, Chairman.  “Our average assets have grown $3.77 billion or, 36%, while net income has grown approximately $26 million, or 52%, and EPS increased $0.09, or 26%, compared to prior year.  In addition, the loan portfolio increased $572.2 million, or 5.5%, through $198.8 million of organic loan growth and the acquisition of Shore Premier Finance this quarter.”

“We achieved an impressive return on average assets of 2.13% for the second quarter. We also maintained strong asset quality while growing the portfolio with non-performing loans to total loans of 0.52% and non-performing assets to total assets of 0.50%,” added Tracy French, Centennial Bank President and Chief Executive Officer.  “We are excited to add Shore Premier Finance to the Centennial family and look forward to growing our new marine lending division.”

1 The calculation of this metric and the reconciliation to generally accepted accounting principles (“GAAP”) is included in the schedules accompanying this release.

“We are once again proud to report our most profitable quarter in the Company’s history,” said Randy Sims, Home BancShares, Inc. Chief Executive Officer.  “We had record net interest income with the majority of the organic loan growth being recorded late in the quarter.  With our acquisition of Shore Premier Finance plus our organic loan growth, the Company’s daily run rate continues to improve.  Plus, our team has continued to control expenses improving our efficiency ratio from an impressive 37.48% for the second quarter of 2017 to an incredible 36.74% for the second quarter of 2018.  This becomes even more impressive considering the recent conversion of Stonegate in February and our ability to quickly reap the dividends of consolidation.”

Operating Highlights

Net interest margin, on a fully taxable equivalent basis, was 4.47% for the quarter just ended compared to 4.46% for the first quarter of 2018.  During the quarter, the Company originated loans with an average loan yield of 5.66% compared to loan payoffs with a yield of 5.13%.

The Company recorded a provision for loan loss of $2.7 million during the second quarter of 2018 compared to $387,000 in the second quarter of 2017.  The Company continues to see improvement in asset quality.  Non-performing loans to total loans was 0.52% as of June 30, 2018 compared to 0.60% as of June 30, 2017, an improvement of 13.3%. Non-performing assets to total assets also improved from 0.60% as of June 30, 2017 to 0.50% as of June 30, 2018, an improvement of 16.7%. For the second quarter of 2018, net charge-offs were $1.4 million compared to net charge-offs of $1.7 million for the first quarter of 2018.

The Company reported $27.7 million of non-interest income for the second quarter of 2018.  The most important components of the second quarter non-interest income were $9.8 million from other service charges and fees, $6.8 million from service charges on deposits accounts, $3.5 million from mortgage lending income, and $3.1 million from other income.  

Non-interest expense for the second quarter of 2018 was $63.2 million.  The most important components of the second quarter non-interest expense were $34.5 million from salaries and employee benefits, $16.9 million in other expense and $8.5 million in occupancy and equipment expenses.  For the second quarter of 2018, our efficiency ratio improved to 36.74% from 37.48% reported for the second quarter of 2017. 

Financial Condition

Total loans receivable were $10.90 billion at June 30, 2018 compared to $10.33 billion at December 31, 2017.  Total deposits were $10.74 billion at June 30, 2018 compared to $10.39 billion at December 31, 2017.  Total assets were $14.92 billion at June 30, 2018 compared to $14.45 billion at December 31, 2017.

From March 31, 2018 to June 30, 2018, the Company experienced approximately $198.8 million in organic loan growth.  Centennial CFG produced $140.3 million of organic loan growth and had loans of $1.65 billion at June 30, 2018.  Our legacy footprint produced approximately 81% of the $957.9 million in loan originations during the second quarter of 2018.  

Non-performing loans at June 30, 2018 were $13.0 million, $43.0 million, $52,000, $776,000 and zero in the Arkansas, Florida, Alabama, Shore Premier and Centennial CFG markets, respectively, for a total of $56.8 million.  Non-performing assets at June 30, 2018 were $21.0 million, $51.5 million, $1.4 million, $776,000 and zero in the Arkansas, Florida, Alabama, Shore Premier and Centennial CFG markets, respectively, for a total of $74.6 million. 

The Company’s allowance for loan losses was $111.5 million at June 30, 2018, or 1.02% of total loans, compared to $110.3 million, or 1.07% of total loans, at December 31, 2017. This decrease is primarily the result of acquiring the Shore Premier Finance loans which do not have an associated allowance for loan losses as a result of purchase accounting requiring them to be marked to fair value at acquisition.  As of June 30, 2018, and December 31, 2017, the Company’s allowance for loan losses was 196% and 247% of its total non-performing loans, respectively.

Stockholders’ equity was $2.31 billion at June 30, 2018 compared to $2.20 billion at December 31, 2017, an increase of $109.7 million. The increase in stockholders’ equity is primarily associated with the $111.9 million increase in retained earnings as well as the issuance of 1.25 million shares of stock with a value of $28.2 million as part of the acquisition of Shore Premier Finance which were partially offset by $20.2 million of comprehensive loss and the repurchase of $15.0 million of our common stock during 2018. Book value per common share was $13.26 at June 30, 2018 compared to $12.70 at December 31, 2017.  Tangible book value per common share was $7.52 at June 30, 2018 compared to $7.07 at December 31, 2017, an annualized increase of 12.8%. 

Branches

During the second quarter of 2018, the Company opened one branch location in Jonesboro, Arkansas, and the Company plans to open a loan production office in Chesapeake, Virginia under the management of Shore Premier Finance during the 3rd quarter of 2018.  The Company currently has 77 branches in Arkansas, 76 branches in Florida, 5 branches in Alabama and one branch in New York City.

Conference Call

We encourage all participants to pre-register for the conference call using the following link:  http://dpregister.com/10121421.  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: 10121421, which will be available until July 26, 2018 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. 

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 earnings, as adjusted; return on average assets excluding intangible amortization; return on average assets, as adjusted; return on average common equity excluding intangible amortization; efficiency ratio, as adjusted; tangible book value per common share; and the tangible common equity to tangible assets ratio--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.  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 contains forward-looking statements regarding the benefits of the Company’s acquisition of Shore Premier Finance (“SPF”) and 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:  (i) the risk that the benefits from the acquisition of SPF may not be fully realized or may take longer to realize than expected, including as a result of any delay in or failure to receive regulatory approval of the proposed loan production office through which SPF will be operated, changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the Company and SPF operate; (ii) the ability to promptly and effectively integrate the business of SFP into the Company; (iii) the reaction to the transaction of the Company’s and SPF’s customers, employees and counterparties; (iv) diversion of management time on acquisition-related issues; (v) economic conditions, credit quality, interest rates and loan demand; (vi) the ability to successfully integrate future acquisitions; (vii) increased regulatory requirements as a result of our exceeding $10 billion in total assets; (viii) legislative and regulatory changes; (ix) technological changes and cybersecurity risks; (x) competition from other financial institutions; (xi) changes in the assumptions used in making the forward-looking statements; and (xii) 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, 2017 filed with the SEC on February 27, 2018.

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) 
        
  Jun. 30,Mar. 31,Dec. 31,Sep. 30,Jun. 30, 
 (In thousands)    2018    2018    2017    2017    2017   
                  
ASSETS       
        
 Cash and due from banks  $  197,658 $  185,479 $  166,915 $  197,953 $  147,041  
 Interest-bearing deposits with other banks     298,085    325,122    469,018    354,367    313,447  
     Cash and cash equivalents     495,743    510,601    635,933    552,320    460,488  
 Federal funds sold     500    1,825    24,109    4,545    -   
 Investment securities - available-for-sale     1,718,704    1,693,018    1,663,517    1,575,685    1,400,431  
 Investment securities - held-to-maturity     204,401    213,731    224,756    234,945    254,161  
 Loans receivable     10,897,970    10,325,736    10,331,188    10,286,193    7,834,475  
 Allowance for loan losses     (111,516)   (110,212)   (110,266)   (111,620)   (80,138) 
     Loans receivable, net     10,786,454    10,215,524    10,220,922    10,174,573    7,754,337  
 Bank premises and equipment, net     234,634    235,607    237,439    239,990    207,071  
 Foreclosed assets held for sale     17,853    20,134    18,867    21,701    18,789  
 Cash value of life insurance     147,281    147,424    146,866    146,158    97,684  
 Accrued interest receivable     45,682    45,361    45,708    41,071    32,445  
 Deferred tax asset, net     78,435    78,328    76,564    121,787    68,368  
 Goodwill     956,418    927,949    927,949    929,129    420,941  
 Core deposit and other intangibles     46,101    47,726    49,351    50,982    21,019  
 Other assets     191,914    186,001    177,779    163,081    136,494  
     Total assets  $  14,924,120 $  14,323,229 $  14,449,760 $  14,255,967 $  10,872,228  
                  
LIABILITIES AND STOCKHOLDERS' EQUITY       
        
Liabilities       
 Deposits:        
     Demand and non-interest-bearing  $  2,523,553 $  2,473,602 $  2,385,252 $  2,555,465 $  1,957,677  
     Savings and interest-bearing transaction accounts     6,573,902    6,437,408    6,476,819    6,341,883    4,335,456  
     Time deposits     1,638,578    1,485,605    1,526,431    1,551,422    1,474,255  
         Total deposits     10,736,033    10,396,615    10,388,502    10,448,770    7,767,388  
 Federal funds purchased     -     -     -     -     -   
 Securities sold under agreements to repurchase     139,750    150,315    147,789    149,531    133,741  
 FHLB and other borrowed funds     1,309,950    1,115,061    1,299,188    1,044,333    1,099,478  
 Accrued interest payable and other liabilities     55,971    54,845    41,959    38,782    37,751  
 Subordinated debentures     368,403    368,212    368,031    367,835    357,838  
     Total liabilities     12,610,107    12,085,048    12,245,469    12,049,251    9,396,196  
                  
 Stockholders' equity        
 Common stock     1,745    1,736    1,736    1,737    1,431  
 Capital surplus     1,693,337    1,671,141    1,675,318    1,674,642    940,821  
 Retained earnings     642,540    585,586    530,658    526,448    527,338  
 Accumulated other comprehensive (loss) income     (23,609)   (20,282)   (3,421)   3,889    6,442  
     Total stockholders' equity     2,314,013    2,238,181    2,204,291    2,206,716    1,476,032  
     Total liabilities and stockholders' equity  $  14,924,120 $  14,323,229 $  14,449,760 $  14,255,967 $  10,872,228  
                  


 Home BancShares, Inc.  
 Consolidated Statements of Income  
 (Unaudited)  
           
   Quarter Ended   Six Months Ended  
   Jun. 30,  Mar. 31,  Dec. 31,  Sep. 30,  Jun. 30,   Jun. 30,  Jun. 30,  
 (In thousands)    2018    2018    2017    2017    2017    2018    2017  
                       
 Interest income           
  Loans  $  152,996 $  148,065 $  147,426 $  113,269 $  112,732 $  301,061 $  218,494 
  Investment securities           
       Taxable     8,979    8,970    7,793    7,071    6,434    17,949    11,912 
       Tax-exempt     3,368    3,006    3,025    3,032    2,966    6,374    5,910 
  Deposits - other banks     1,206    929    736    538    727    2,135    1,035 
  Federal funds sold     12    6    1    3    4    18    6 
                       
 Total interest income     166,561    160,976    158,981    123,913    122,863    327,537    237,357 
                       
 Interest expense           
  Interest on deposits     18,164    14,806    12,946    8,535    6,810    32,970    12,296 
  Federal funds purchased     -     1    1    -     -     1    -  
  FHLB borrowed funds     4,245    4,580    3,806    3,408    3,710    8,825    7,299 
  Securities sold under agreements to repurchase     372    376    325    232    196    748    361 
  Subordinated debentures     5,168    5,004    4,934    4,969    4,795    10,172    5,234 
                       
 Total interest expense     27,949    24,767    22,012    17,144    15,511    52,716    25,190 
                       
 Net interest income     138,612    136,209    136,969    106,769    107,352    274,821    212,167 
  Provision for loan losses     2,722    1,600    4,926    35,023    387    4,322    4,301 
 Net interest income after                       
  provision for loan losses     135,890    134,609    132,043    71,746    106,965    270,499    207,866 
                       
 Non-interest income           
  Service charges on deposit accounts     6,780    6,075    6,566    6,408    5,966    12,855    11,948 
  Other service charges and fees     9,797    10,155    10,144    8,490    8,576    19,952    17,493 
  Trust fees     379    446    548    365    309    825    765 
  Mortgage lending income     3,477    2,657    3,573    3,172    3,750    6,134    6,541 
  Insurance commissions     526    679    466    472    465    1,205    1,010 
  Increase in cash value of life insurance     730    654    738    478    463    1,384    773 
  Dividends from FHLB, FRB, Bankers' Bank & other     1,600    877    1,030    834    472    2,477    1,621 
  Gain on acquisitions     -     -     -     -     -     -     3,807 
  Gain (loss) on SBA loans     262    182    -     163    387    444    575 
  Gain (loss) on branches, equipment and
    other assets, net 
    -     7    2    (1,337)   431    7    375 
  Gain (loss) on OREO, net     1,046    405    176    335    393    1,451    514 
  Gain (loss) on securities, net     -     -     1,193    136    380    -     803 
  Other income     3,076    3,668    2,856    1,941    2,825    6,744    4,662 
                       
 Total non-interest income     27,673    25,805    27,292    21,457    24,417    53,478    50,887 
                       
 Non-interest expense           
  Salaries and employee benefits     34,476    35,014    35,404    28,510    28,034    69,490    55,455 
  Occupancy and equipment     8,519    8,983    9,009    7,887    7,034    17,502    13,715 
  Data processing expense     3,339    3,986    3,559    2,853    2,863    7,325    5,586 
  Other operating expenses     16,894    15,397    15,246    31,596    13,072    32,291    31,388 
                       
 Total non-interest expense     63,228    63,380    63,218    70,846    51,003    126,608    106,144 
                       
 Income before income taxes     100,335    97,034    96,117    22,357    80,379    197,369    152,609 
  Income tax expense     24,310    23,970    72,808    7,536    30,282    48,280    55,656 
 Net income  $  76,025 $  73,064 $  23,309 $  14,821 $  50,097 $  149,089 $  96,953 
                       


 Home BancShares, Inc.  
 Selected Financial Information  
 (Unaudited)  
            
    Quarter Ended 
  Six Months Ended  
    Jun. 30,  Mar. 31  Dec. 31,  Sep. 30,  Jun. 30,   Jun. 30,  Jun. 30,  
 (Dollars and shares in thousands, except per share data)     2018    2018    2017    2017    2017     2018    2017   
                          
PER SHARE DATA           
            
Diluted earnings per common share  $  0.44 $  0.42 $  0.13 $  0.10 $  0.35  $  0.86 $  0.68  
Diluted earnings per common share excluding gain on
  acquisitions, merger expenses, FDIC loss share buy-out
  expense, reduced provision for loan losses as a result of a
  significant loan recovery, hurricane expenses & effect of tax
  rate change (non-GAAP)(1)
     0.44    0.42    0.35    0.32    0.35     0.86    0.68  
Basic earnings per common share     0.44    0.42    0.13    0.10    0.35     0.86    0.68  
Dividends per share - common     0.1100    0.1100    0.1100    0.1100    0.0900     0.2200    0.1800  
Book value per common share     13.26    12.89    12.70    12.71    10.32     13.26    10.32  
Tangible book value per common share (non-GAAP)(1)     7.52    7.27    7.07    7.06    7.23     7.52    7.23  
            
            
STOCK INFORMATION           
            
Average common shares outstanding     173,403    173,761    173,641    144,238    143,282     173,581    142,538  
Average diluted shares outstanding     173,936    174,383    174,349    144,987    144,116     174,168    143,270  
End of period common shares outstanding     174,511    173,603    173,633    173,666    143,071     174,511    143,071  
            
            
ANNUALIZED PERFORMANCE METRICS           
            
Return on average assets   2.13% 2.08% 0.66% 0.54% 1.86%  2.11% 1.86% 
Return on average assets excluding gain on acquisitions,
  merger expenses, FDIC loss share buy-out expense,
  reduced provision for loan losses as a result of a significant
  loan recovery, hurricane expenses & effect of tax rate
  change (non-GAAP)(1)
   2.13% 2.08% 1.69% 1.70% 1.88%  2.11% 1.88% 
Return on average assets excluding intangible
  amortization (non-GAAP)(1)
   2.32% 2.27% 0.73% 0.59% 1.96%  2.30% 1.96% 
Return on average assets excluding intangible
  amortization, provision for loan losses, gain on acquisitions,
  merger expenses, FDIC loss share buy-out expense,
  hurricane expenses and income taxes (ROA, as adjusted)
  (non-GAAP)(1)
   3.15% 3.07% 3.10% 2.94% 3.19%  3.11% 3.25% 
Return on average common equity   13.54% 13.38% 4.17% 3.88% 13.83%  13.46% 13.84% 
Return on average tangible common equity excluding
  intangible amortization (non-GAAP)(1)
   24.27% 24.33% 7.78% 5.80% 20.09%  24.30% 20.09% 
Efficiency ratio   36.74% 37.83% 37.05% 53.77% 37.48%  37.28% 39.12% 
Efficiency ratio, as adjusted (non-GAAP)(1)   37.03% 37.97% 37.35% 39.12% 37.29%  37.49% 37.13% 
Net interest margin - FTE   4.47% 4.46% 4.47% 4.40% 4.50%  4.47% 4.60% 
Fully taxable equivalent adjustment  $  1,403 $  1,209 $  1,983 $  1,846 $  2,016  $  2,612 $  4,027  
Total revenue     194,234    186,781    186,273    145,370    147,280     381,015    288,244  
Total purchase accounting accretion     10,669    10,608    12,397    7,174    8,497     21,276    16,145  
Average purchase accounting loan discounts     153,624    164,122    178,027    97,978    104,384     159,443    101,403  
            
            
OTHER OPERATING EXPENSES           
            
Advertising  $  1,142 $  962 $  898 $  795 $  812  $  2,104 $  1,510  
Merger and acquisition expenses     -     -     -     18,227    789     -     7,516  
Amortization of intangibles     1,624    1,626    1,631    906    866     3,250    1,670  
Electronic banking expense     1,828    1,878    1,777    1,712    1,654     3,706    3,173  
Directors' fees     318    330    313    309    324     648    637  
Due from bank service charges     242    219    254    472    456     461    876  
FDIC and state assessment     2,788    1,608    1,476    1,293    1,182     4,396    2,470  
Insurance     714    887    814    577    543     1,601    1,121  
Legal and accounting     858    778    1,194    698    474     1,636    1,101  
Other professional fees     1,601    1,639    1,537    1,436    1,233     3,240    2,386  
Operating supplies     602    600    602    432    477     1,202    944  
Postage     323    344    323    280    295     667    581  
Telephone     371    373    347    305    398     744    722  
Other expense     4,483    4,153    4,080    4,154    3,569     8,636    6,681  
                          
  Total other operating expenses   $  16,894 $  15,397 $  15,246 $  31,596 $  13,072  $  32,291 $  31,388  
                          
            
 (1)  Calculation of this metric and the reconciliation to GAAP is included in the schedules accompanying this release. 
 


 Home BancShares, Inc.  
 Selected Financial Information  
 (Unaudited)  
         
    June. 30,  Mar. 31,  Dec. 31,  Sep. 30,  Jun. 30,  
 (Dollars in thousands)     2018    2018    2017    2017    2017   
                   
BALANCE SHEET RATIOS        
         
Total loans to total deposits   101.51% 99.32% 99.45% 98.44% 100.86% 
Common equity to assets   15.51% 15.63% 15.25% 15.48% 13.58% 
Tangible common equity to tangible assets (non-GAAP)(1)   9.42% 9.46% 9.11% 9.24% 9.91% 
         
         
LOANS RECEIVABLE        
         
Real estate        
  Commercial real estate loans        
       Non-farm/non-residential  $  4,734,315 $  4,658,209 $  4,600,117 $  4,532,402 $  3,368,663  
       Construction/land development     1,662,199    1,641,834    1,700,491    1,648,923    1,315,309  
       Agricultural     77,053    81,151    82,229    88,295    78,260  
  Residential real estate loans        
       Residential 1-4 family     1,960,841    1,915,346    1,970,311    1,968,688    1,513,888  
       Multifamily residential     540,526    464,194    441,303    497,910    398,781  
Total real estate     8,974,934    8,760,734    8,794,451    8,736,218    6,674,901  
Consumer     417,499    40,842    46,148    51,515    38,424  
Commercial and industrial     1,287,637    1,324,173    1,297,397    1,296,485    994,827  
Agricultural     55,768    50,770    49,815    57,489    69,697  
Other     162,132    149,217    143,377    144,486    56,626  
  Loans receivable  $  10,897,970 $  10,325,736 $  10,331,188 $  10,286,193 $  7,834,475  
                   
Discount for credit losses on purchased loans  $  129,903 $  137,404 $  146,557 $  158,001 $  95,627  
Purchased loans, net of discount for credit losses
  on purchased loans
     3,522,753    3,232,004    3,464,990    3,653,079    1,355,922  
         
         
ALLOWANCE FOR LOAN LOSSES        
         
Balance, beginning of period  $  110,212 $  110,266 $  111,620 $  80,138 $  80,311  
Loans charged off     2,132    2,540    6,936    4,424    1,405  
Recoveries of loans previously charged off     714    886    656    883    845  
  Net loans (recovered)/charged off     1,418    1,654    6,280    3,541    560  
Provision for loan losses     2,722    1,600    4,926    35,023    387  
Balance, end of period  $  111,516 $  110,212 $  110,266 $  111,620 $  80,138  
                   
Net (recoveries) charge-offs to average total loans   0.05% 0.06% 0.24% 0.18% 0.03% 
Allowance for loan losses to total loans   1.02% 1.07% 1.07% 1.09% 1.02% 
         
         
NON-PERFORMING ASSETS        
         
Non-performing loans        
  Non-accrual loans  $  37,082 $  36,266 $  34,032 $  34,794 $  32,426  
  Loans past due 90 days or more     19,696    13,223    10,665    29,183    14,442  
       Total non-performing loans     56,778    49,489    44,697    63,977    46,868  
Other non-performing assets                  
  Foreclosed assets held for sale, net     17,853    20,134    18,867    21,701    18,789  
  Other non-performing assets     3    3    3    3    3  
       Total other non-performing assets     17,856    20,137    18,870    21,704    18,792  
       Total non-performing assets  $  74,634 $  69,626 $  63,567 $  85,681 $  65,660  
                   
Allowance for loan losses for loans to non-performing loans   196.41% 222.70% 246.70% 174.47% 170.99% 
Non-performing loans to total loans   0.52% 0.48% 0.43% 0.62% 0.60% 
Non-performing assets to total assets   0.50% 0.49% 0.44% 0.60% 0.60% 
         
         
 (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  
   June 30, 2018   March 31, 2018  
   Average  Income/  Yield/   Average  Income/  Yield/  
 (Dollars in thousands)   Balance  Expense  Rate   Balance  Expense  Rate  
          
ASSETS         
 Earning assets          
  Interest-bearing balances due from banks  $  288,643 $  1,206 1.68% $  245,815 $  929 1.53% 
  Federal funds sold     679    12 7.09%    9,682    6 0.25% 
  Investment securities - taxable     1,528,613    8,979 2.36%    1,560,464    8,970 2.33% 
  Investment securities - non-taxable - FTE     398,067    4,476 4.51%    345,217    3,997 4.70% 
  Loans receivable - FTE     10,345,846    153,291 5.94%    10,325,439    148,283 5.82% 
     Total interest-earning assets     12,561,848    167,964 5.36%    12,486,617    162,185 5.27% 
  Non-earning assets     1,742,635      1,747,752   
     Total assets  $ 14,304,483   $ 14,234,369   
          
LIABILITIES AND SHAREHOLDERS' EQUITY         
 Liabilities          
  Interest-bearing liabilities          
     Savings and interest-bearing transaction accounts  $  6,451,204 $  13,489 0.84% $  6,409,585 $  11,242 0.71% 
     Time deposits     1,611,353    4,675 1.16%    1,513,854    3,564 0.95% 
       Total interest-bearing deposits     8,062,557    18,164 0.90%    7,923,439    14,806 0.76% 
  Federal funds purchased     46    -  0.00%    78    1 5.20% 
  Securities sold under agreement to repurchase     143,952    372 1.04%    152,716    376 1.00% 
  FHLB borrowed funds     928,357    4,245 1.83%    1,150,091    4,580 1.62% 
  Subordinated debentures     368,309    5,168 5.63%    368,124    5,004 5.51% 
     Total interest-bearing liabilities     9,503,221    27,949 1.18%    9,594,448    24,767 1.05% 
  Non-interest bearing liabilities          
     Non-interest bearing deposits    2,496,701      2,381,259   
     Other liabilities     53,149      44,360   
       Total liabilities     12,053,071      12,020,067   
 Shareholders' equity     2,251,412      2,214,302   
     Total liabilities and shareholders' equity  $ 14,304,483   $ 14,234,369   
 Net interest spread     4.18%    4.22% 
 Net interest income and margin - FTE    $  140,015 4.47%   $  137,418 4.46% 
          
          


 Home BancShares, Inc.  
 Consolidated Net Interest Margin  
 (Unaudited)  
          
   Year Ended  
   June 30, 2018   June 30, 2017  
   Average  Income/  Yield/   Average  Income/  Yield/  
 (Dollars in thousands)   Balance  Expense  Rate   Balance  Expense  Rate  
          
ASSETS         
 Earning assets          
  Interest-bearing balances due from banks  $  267,347 $  2,135 1.61% $  237,617 $  1,035 0.88% 
  Federal funds sold     5,156    18 0.70%    1,305    6 0.93% 
  Investment securities - taxable     1,544,451    17,949 2.34%    1,183,588    11,912 2.03% 
  Investment securities - non-taxable - FTE     371,788    8,473 4.60%    346,895    9,598 5.58% 
  Loans receivable - FTE     10,335,699    301,574 5.88%    7,708,264    218,833 5.72% 
      Total interest-earning assets     12,524,441    330,149 5.32%    9,477,669    241,384 5.14% 
  Non-earning assets     1,745,179      1,020,474   
     Total assets  $ 14,269,620   $ 10,498,143   
          
LIABILITIES AND SHAREHOLDERS' EQUITY         
 Liabilities          
  Interest-bearing liabilities          
     Savings and interest-bearing transaction accounts  $  6,430,509 $  24,731 0.78% $  4,216,025 $  7,690 0.37% 
     Time deposits     1,562,873    8,239 1.06%    1,400,501    4,606 0.66% 
       Total interest-bearing deposits     7,993,382    32,970 0.83%    5,616,526    12,296 0.44% 
  Federal funds purchased     62    1 3.25%    -     -  0.00% 
  Securities sold under agreement to repurchase     148,310    748 1.02%    126,390    361 0.58% 
  FHLB borrowed funds     1,038,612    8,825 1.71%    1,274,823    7,299 1.15% 
  Subordinated debentures     368,217    10,172 5.57%    207,043    5,234 5.10% 
     Total interest-bearing liabilities     9,548,583    52,716 1.11%    7,224,782    25,190 0.70% 
  Non-interest bearing liabilities          
     Non-interest bearing deposits    2,439,299      1,808,660   
     Other liabilities     48,779      52,062   
       Total liabilities     12,036,661      9,085,504   
 Shareholders' equity     2,232,959      1,412,639   
     Total liabilities and shareholders' equity  $ 14,269,620   $ 10,498,143   
 Net interest spread     4.21%    4.44% 
 Net interest income and margin - FTE    $  277,433 4.47%   $  216,194 4.60% 
          
          


 Home BancShares, Inc.  
 Non-GAAP Reconciliations  
 (Unaudited)  
           
   Quarter Ended   Six Months Ended  
 (Dollars and shares in thousands,   Jun. 30,  Mar. 31  Dec. 31,  Sep. 30,  Jun. 30,   Jun. 30,  Jun. 30,  
 except per share data)    2018    2018    2017    2017    2017     2018    2017   
                         
EARNINGS, AS ADJUSTED          
           
GAAP net income available to common shareholders (A) $  76,025 $  73,064 $  23,309 $  14,821 $  50,097  $  149,089 $  96,953  
Adjustments          
Gain on acquisitions    -     -     -     -     -      -     (3,807) 
Merger and acquisition expenses    -     -     -     18,227    789     -     7,516  
Hurricane expenses(2)    -     -     -     33,445    -      -     -   
Effect of tax rate change    -     -     36,935    -     -      -     -   
Total adjustments    -     -     36,935    51,672    789     -     3,709  
Tax-effect of adjustments(3)    -     -     -     20,045    199     -     2,581  
Adjustments after-tax (B)    -     -     36,935    31,627    590     -     1,128  
Earnings, as adjusted (C) $  76,025 $  73,064 $  60,244 $  46,448 $  50,687  $  149,089 $  98,081  
                         
Average diluted shares outstanding (D)    173,936    174,383    174,349    144,987    144,116     174,168    143,270  
           
GAAP diluted earnings per share: A/D $  0.44 $  0.42 $  0.13 $  0.10 $  0.35  $  0.86 $  0.68  
Adjustments after-tax: B/D    -     -     0.22    0.22    -      -     -   
Diluted earnings per common share excluding gain on
  acquisitions, merger expenses,  hurricane expenses & effect of
  tax rate change: C/D
 $  0.44 $  0.42 $  0.35 $  0.32 $  0.35  $  0.86 $  0.68  
                         
                         
ANNUALIZED RETURN ON AVERAGE ASSETS          
           
Return on average assets: A/H  2.13% 2.08% 0.66% 0.54% 1.86%  2.11% 1.86% 
Return on average assets excluding gain on acquisitions,
  merger expenses,  hurricane expenses & effect of tax rate
  change: (A+F)/H
  2.13% 2.08% 1.69% 1.70% 1.88%  2.11% 1.88% 
Return on average assets excluding intangible
  amortization: (A+C)/(H-I)
  2.32% 2.27% 0.73% 0.59% 1.96%  2.30% 1.96% 
Return on average assets excluding intangible amortization,
  provision for loan losses, gain on acquisitions, merger
  expenses, hurricane expenses and income taxes
  (ROA, as adjusted): (A+B+D+E+G)/(H-I)
  3.15% 3.07% 3.10% 2.94% 3.19%  3.11% 3.25% 
           
GAAP net income available to common shareholders (A) $  76,025 $  73,064 $  23,309 $  14,821 $  50,097  $  149,089 $  96,953  
Amortization of intangibles (B)    1,624    1,626    1,631    906    866     3,250    1,670  
Amortization of intangibles after-tax (C)    1,200    1,201    991    551    526     2,401    1,015  
Provision for loan losses excluding hurricane provision (D)    2,722    1,600    4,926    2,134    387     4,322    4,301  
Total adjustments (E)    -     -     36,935    51,672    789     -     3,709  
Adjustments after-tax (F)    -     -     36,935    31,627    590     -     1,128  
Income tax expense excluding effect of tax rate change (G)    24,310    23,970    35,873    7,536    30,282     48,280    55,656  
Average assets (H)    14,304,483    14,234,369    14,113,936    10,853,559    10,793,770     14,269,620    10,498,143  
Average goodwill, core deposits & other intangible assets (I)    975,345    976,451    979,209    462,799    442,380     975,895    429,113  
           
           
 (2)  Hurricane expenses includes $32,889 of provision for loan losses and $556 of damage expense related to Hurricane Irma.  
 (3)  Effective tax rate of 39.225%, adjusted for non-taxable gain on acquisition and non-deductible merger-related costs.  
           


   
 Home BancShares, Inc.   
 Non-GAAP Reconciliations   
 (Unaudited)   
            
   Quarter Ended   Six Months Ended   
 (Dollars and shares in thousands,   Jun. 30,  Mar. 31  Dec. 31,  Sep. 30,  Jun. 30,   Jun. 30,  Jun. 30,   
 except per share data)    2018    2018    2017    2017    2017     2018    2017    
                          
ANNUALIZED RETURN ON AVERAGE COMMON EQUITY           
            
Return on average common equity: A/C  13.54% 13.38% 4.17% 3.88% 13.83%  13.46% 13.84%  
Return on average tangible common equity
  excluding intangible amortization: (A+B)/(C-D)
  24.27% 24.33% 7.78% 5.80% 20.09%  24.30% 20.09%  
            
            
GAAP net income available to common shareholders (A) $  76,025 $  73,064 $  23,309 $  14,821 $  50,097  $  149,089 $  96,953   
Amortization of intangibles after-tax (B)    1,200    1,201    991    551    526     2,401    1,015   
Average common equity (C)    2,251,412    2,214,302    2,218,549    1,513,829    1,453,099     2,232,959    1,412,639   
Average goodwill, core deposits & other intangible assets (D)    975,345    976,451    979,209    462,799    442,380     975,895    429,113   
            
            
EFFICIENCY RATIO           
            
 Efficiency ratio:  ((C-E)/(A+B+D))   36.74% 37.83% 37.05% 53.77% 37.48%  37.28% 39.12%  
 Efficiency ratio, as adjusted:  ((C-E-G)/(A+B+D-F))   37.03% 37.97% 37.35% 39.12% 37.29%  37.49% 37.13%  
       -     -     -      -     -    
 Net interest income (A)  $  138,612 $  136,209 $  136,969 $  106,769 $  107,352  $  274,821 $  212,167   
 Non-interest income (B)     27,673    25,805    27,292    21,457    24,417     53,478    50,887   
 Non-interest expense (C)     63,228    63,380    63,218    70,846    51,003     126,608    106,144   
 Fully taxable equivalent adjustment (D)     1,403    1,209    1,983    1,846    2,016     2,612    4,027   
 Amortization of intangibles (E)     1,624    1,626    1,631    906    866     3,250    1,670   
            
 Adjustments:            
 Non-interest income:            
 Gain on acquisition  $  -  $  -  $  -  $  -  $  -   $  -  $  3,807   
 Gain (loss) on OREO     1,046    405    176    335    393     1,451    514   
 Gain (loss) on SBA loans     262    182    -     163    387     444    575   
 Gain (loss) on branches, equipment and other assets, net     -     7    2    (1,337)   431     7    375   
 Gain (loss) on securities     -     -     1,193    136    380     -     803   
 Recoveries on historic losses     -     -     -     -     -      -     -    
   Total non-interest income adjustments (F) $  1,308 $  594 $  1,371 $  (703)$  1,591  $  1,902 $  6,074   
                          
 Non-interest expense:            
 Merger Expenses  $  -  $  -  $  -  $  18,227 $  789  $  -  $  7,516   
 Hurricane damage expense     -     -     -     556    -      -     -    
 Vacant properties write-downs     -     -     -     -     47     -     47   
   Total non-interest expense adjustments (G) $  -  $  -  $  -  $  18,783 $  836  $  -  $  7,563   
                          
            


  
 Home BancShares, Inc.  
 Non-GAAP Reconciliations  
 (Unaudited)  
         
    Jun. 30,  Mar. 31,  Dec. 31,  Sep. 30,  Jun. 30,  
 (Dollars in thousands)     2018    2018    2017    2017    2017   
                   
TANGIBLE BOOK VALUE PER COMMON SHARE        
         
 Book value per common share: A/B   $  13.26 $  12.89 $  12.70 $  12.71 $  10.32  
 Tangible book value per common share: (A-C-D)/B      7.52    7.27    7.07    7.06    7.23  
         
 Total stockholders' equity (A)   $  2,314,013 $  2,238,181 $  2,204,291 $  2,206,716 $  1,476,032  
 End of period common shares outstanding (B)      174,511    173,603    173,633    173,666    143,071  
 Goodwill (C)   $  956,418 $  927,949 $  927,949 $  929,129 $  420,941  
 Core deposit and other intangibles (D)      46,101    47,726    49,351    50,982    21,019  
         
         
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS        
         
 Equity to assets: B/A    15.51% 15.63% 15.25% 15.48% 13.58% 
 Tangible common equity to tangible assets: (B-C-D)/(A-C-D)    9.42% 9.46% 9.11% 9.24% 9.91% 
        -     -     -   
 Total assets (A)   $  14,924,120 $  14,323,229 $  14,449,760 $  14,255,967 $  10,872,228  
 Total stockholders' equity (B)      2,314,013    2,238,181    2,204,291    2,206,716    1,476,032  
 Goodwill (C)      956,418    927,949    927,949    929,129    420,941  
 Core deposit and other intangibles (D)      46,101    47,726    49,351    50,982    21,019  
         


The following information was filed by Home Bancshares Inc (HOMB) on Thursday, July 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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