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Home BancShares (HOMB) in Conway, Ark., got a big boost last quarter from a recent acquisition.
July 17 -
Home Bancshares, the parent company of Centennial Bank of Conway, Ark., announced Thursday quarterly earnings of $13 million, down 23% from the same period in 2012.
January 16 -
Home BancShares in Conway, Ark., has agreed to buy Florida Traditions Bank in Dade City, Fla. The $6.8 billion-asset Home said it will pay $43 million stock for the $312 million-asset Florida Traditions.
April 18
Acquisitions buoyed third-quarter earnings at Home BancShares in Conway, Ark.
The $7.2 billion-asset company reported Thursday that it earned $27.4 million, up roughly 49% from a year earlier. Earnings per share totaled 41 cents, falling short of estimates from analysts polled by Bloomberg by four cents.
Homes net interest income, after the provision for loan losses, was $74.4 million, up 60% year over year, while its noninterest income jumped 16%, to $10.8 million. These results were aided by Homes acquisition of the $298 million-asset Florida Traditions Bank in July and the $2.9 billion-asset Liberty Bancshares in October 2013.
The companys third-quarter net interest margin totaled 5.26%, down 15 basis points from a year earlier.
Non-interest expenses increased roughly 60%, to $42.8 million, largely because of costs tied to the acquisitions of Liberty and Florida Traditions.
