Home Bancshares Inc. in Conway, Ark., has repaid the Treasury Department the $50 million it received in early 2009 from the Troubled Asset Relief program.
The $3.7 billion-asset parent of Centennial Bank said Monday that its total repayment was $50.4 million, including roughly $355,000 in dividends accrued since its last quarterly payment to the Treasury. The company, which is very well capitalized, was able to repay the debt without raising additional capital.
"The money we received from our participation in the TARP program served its purpose of providing us with additional stabilization during these tough economic times," Home Bancshares Chairman John Allison said in a news release. "Having completed the repayment, our capital position and balance sheet continue to be strong."
Home Bancshares' stock was trading at $24.46 at midday Tuesday, up about 1% from Monday's close.