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.