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Home BancShares Posts Net Income of Over $71 Million in 1Q

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Home BancShares Inc. posted a net income of $71.4 million for its first quarter earnings in 2019. This total is a 2.3 percent decline from last year’s first quarter, which the company reported $73.06 million.

However, the company increased its net income from the fourth quarter of 2018, when it reported $71 million in net income. The company also increased its total revenue from the fourth quarter of 2018 to the first quarter of 2019 from $201.3 million to $203.2 million.

The diluted earnings per share for the first quarter is 42 cents per share. “Considering all the noise in the market the last two quarters, we are proud to maintain our net interest margin at 4.30% and to meet the earnings per share target of $0.42,” said John Allison, Chairman. “We think stability and good asset quality are important and outweigh the need for fast growth.”

As of Thursday, April 18, Home BancShares stock were trading at $19.20. In the past six months, the stock has reached a low of $18.32 and a high of $19.39. The 52-week high is $24.56, while the 52-week low is $15.35.

Meanwhile, Home BancShares maintained its net interest margin from the 2018 fourth quarter to the 2019 first quarter. The consolidated company remained at 4.3 percent. However, the community banking side increased its net interest margin from 4.18 percent to 4.20 percent.

“Centennial Community Banking saw improvement in its net interest margin for the 1st quarter with 4.20%, up from 4.18% in the fourth quarter of 2018. Our core banking footprint remained steady during the recent chaos in the economy,” said Tracy French, Centennial Bank President and Chief Executive Officer. 

Home Bancshares is the parent company of Centennial Bank and is headquartered in Conway. 

READ MORE: The Banker Behind Centennial Bank

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