Home BancShares 二季度收入创纪录、调整后 EPS 小幅高于预期但属于常规财报披露

Record Revenue and Successful Mountain Commerce Bancorp Acquisition Drive Strong Second Quarter Results for HOMB
Company Release -
7/15/2026
Download the PDF version
PDF Format (opens in new window)
Download Supplemental Slides
PDF
CONWAY, Ark., July 15, 2026 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB) (“Home” or the “Company”), parent company of Centennial Bank, released quarterly earnings today.
Quarterly Highlights
Metric
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Net income
$119.3 million
$118.2 million
$123.6 million
$118.4 million
Net income, as adjusted (non-GAAP)
(1)
$128.1 million
$117.9 million
$119.7 million
$114.6 million
Total revenue (net)
$295.1 million
$266.7 million
$282.1 million
$277.7 million
$271.0 million
Income before income taxes
$154.4 million
$152.2 million
$153.3 million
$159.3 million
$152.0 million
Pre-tax, pre-provision, net income (PPNR) (non-GAAP)
$159.6 million
$152.7 million
$167.7 million
$162.8 million
$155.0 million
PPNR, as adjusted (non-GAAP)
$171.2 million
$167.1 million
$157.7 million
$150.4 million
Pre-tax net income to total revenue (net)
52.32%
57.08%
54.35%
57.38%
56.08%
Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)
56.27%
57.06%
54.14%
55.53%
54.39%
P5
NR
(Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)
54.08%
57.27%
59.46%
58.64%
57.19%
, as adjusted (non-GAAP)
58.03%
57.25%
59.25%
56.80%
55.49%
ROA
1.95%
2.09%
2.06%
2.17%
2.08%
ROA, as adjusted (non-GAAP)
2.05%
2.10%
2.02%
NIM
4.51%
4.61%
4.56%
4.44%
Purchase accounting accretion
$3.6 million
$1.1 million
$1.3 million
$1.2 million
ROE
10.55%
11.09%
11.04%
11.91%
11.77%
ROE, as adjusted (non-GAAP)
11.32%
11.08%
11.01%
11.54%
11.39%
ROTCE (non-GAAP)
15.67%
16.56%
16.65%
18.28%
18.26%
ROTCE, as adjusted (non-GAAP)
16.82%
16.55%
16.60%
17.70%
17.68%
Diluted earnings per share
$0.59
$0.60
$0.63
Diluted earnings per share, as adjusted (non-GAAP)
$0.64
$0.61
$0.58
Non-performing assets to total assets
0.93%
0.97%
0.55%
0.56%
0.60%
Common equity tier 1 capital
16.4%
16.7%
16.3%
16.1%
15.6%
Leverage
14.0%
14.3%
14.1%
13.8%
13.4%
Tier 1 capital
Total risk-based capital
19.0%
19.5%
19.1%
18.9%
19.3%
Allowance for credit losses to total loans
1.92%
1.90%
1.87%
1.86%
Book value per share
$22.68
$22.15
$21.88
$21.41
$20.71
Tangible book value per share (non-GAAP)
$15.32
$14.87
$14.60
$14.13
$13.44
Dividends per share
$0.21
$0.20
Shareholder buyback yield
(2)
0.77%
0.25%
0.27%
0.18%
0.49%
Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.
Calculation of this metric is included in the schedules accompanying this release.
“Home BancShares delivered another quarter of strong profitability and balance sheet expansion in the second quarter. Highlights include a record PPNR, as adjusted, of $171.2 million, a record total net revenue of $295.1 million, smart loan growth, increase to book value and maintaining a stable margin, while returning capital through meaningful share repurchases and adjusted EPS of $0.64,” said John Allison, Chairman.
“Our legacy franchise produced loan growth during the quarter, while Mountain Commerce contributed meaningful deposit growth almost immediately following the acquisition—demonstrating exactly why we pursued the transaction. Even after absorbing approximately $12.7 million of merger-related expenses, we generated record adjusted earnings of $128.1 million, maintained a strong net interest margin of 4.51%, and continued to grow tangible book value per share. We believe these results underscore both the strength of our existing markets and the value of disciplined acquisitions that enhance our franchise,” continued Allison.
Quarterly Financial Performance Trends
Net income totaled $119.3 million for the second quarter of 2026, compared to $118.4 million for the second quarter of 2025. The Company completed its acquisition of Mountain Commerce Bancorp, Inc. (“Mountain Commerce”) during the quarter and recognized $12.7 million in merger-related expenses. Net income, as adjusted (non-GAAP)
, which excludes merger expenses and certain other items, reached a Company-record $128.1 million, an increase of 8.4% from $118.2 million in the prior quarter.
Pre-tax, pre-provision net revenue (PPNR) (non-GAAP)
totaled $159.6 million for the second quarter of 2026, compared to $152.7 million in the first quarter of 2026. The Company completed its acquisition of Mountain Commerce during the quarter and incurred $12.7 million in merger-related expenses. Excluding merger expenses and certain other non-fundamental adjustments, PPNR, as adjusted (Non-GAAP)
increased to a Company-record $171.2 million, compared to $152.7 million in the prior quarter, reflecting revenue growth, including the impact of the Mountain Commerce acquisition, and continued operating performance.
Dollar amounts presented below in thousands.
Net interest income after credit loss expense totaled $236.4 million for the second quarter of 2026, compared to $223.4 million in the first quarter of 2026, an increase of 5.8%. The increase was driven by continued growth in earning assets, including the impact of the Mountain Commerce acquisition completed during the quarter, as well as favorable net interest margin performance.
Non-interest income totaled $53.5 million for the second quarter of 2026, compared to $42.8 million in the first quarter of 2026, an increase of 24.9%. The increase was primarily driven by higher other service charges and fees, a favorable fair value adjustment on marketable securities, and growth in other income, with additional contributions from the completed acquisition of Mountain Commerce.
Total revenue (net) reached a Company-record $295.1 million for the second quarter of 2026, increasing 10.6% from $266.7 million in the prior quarter. The increase was driven by strong growth in net interest income, including the contribution from the Mountain Commerce acquisition completed during the quarter. The acquisition further enhances the Company's earnings capacity and positions it well for continued revenue growth and earnings accretion in future periods.
Total expenses increased during the second quarter of 2026, reflecting the completed acquisition of Mountain Commerce. Interest expense increased to $95.2 million from $87.1 million in the prior quarter, primarily due to higher interest on deposits resulting from a $921.3 million increase in interest-bearing deposits. Non-interest expense increased to $135.5 million from $114.0 million in the first quarter of 2026, driven primarily by $12.7 million of merger-related expenses incurred during the quarter.
The efficiency ratio was 44.54% for the second quarter of 2026, compared to 41.59% in the prior quarter, primarily reflecting $12.7 million of merger-related expenses associated with the completed acquisition of Mountain Commerce. Excluding merger-related expenses and certain other non-GAAP adjustments, the efficiency ratio, as adjusted, (non-GAAP)
improved to 40.46%, highlighting continued operating discipline while integrating the acquisition.
Return on average assets (ROA) was 1.95% for the second quarter of 2026, compared to 2.09% in the prior quarter. The decline was primarily attributable to $12.7 million of merger-related expenses associated with the completed acquisition of Mountain Commerce. Excluding merger-related expenses and certain other non-GAAP adjustments, ROA, as adjusted, (non-GAAP)
remained strong at 2.09%, reflecting the Company's continued earnings strength and operating performance.
The tables below present additional key financial metrics over the past five quarters, including net interest margin (NIM), yield on interest-earning assets, rate on interest-bearing liabilities, and net interest spread. These metrics are fundamental indicators of the Company’s profitability and operational efficiency.
Book value per share increased to $22.68 at June 30, 2026, from $22.15 at March 31, 2026, while tangible book value per share (non-GAAP)
increased to $15.32 from $14.87. The linked-quarter growth reflects strong earnings generation and the successful completion of the Mountain Commerce acquisition, which contributed to continued growth in shareholder value despite the impact of merger-related expenses incurred during the quarter.
Operating Highlights
Net income for the three-month period ended June 30, 2026 was $119.3 million, or $0.59 diluted earnings per share. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $128.1 million
and $0.64 per share
, respectively, for the three months ended June 30, 2026.
Our net interest margin was 4.51% for both of the three-month periods ended June 30, 2026 and March 31, 2026. The yield on loans was 7.00% and 7.08% for the three months ended June 30, 2026 and March 31, 2026, respectively, as average loans increased from $15.68 billion to $17.08 billion. The rate on interest bearing deposits increased to 2.39% as of June 30, 2026, from 2.35% as of March 31, 2026, while average interest-bearing deposits increased from $13.66 billion to $14.69 billion. The increase in average loans and deposits was primarily due to the acquisition of Mountain Commerce Bancorp, Inc. (“MCBI” or“Mountain Commerce”) which was completed during the second quarter of 2026.
During the second quarter of 2026, there was $1.7 million of event interest income compared to no event interest income for the first quarter of 2026. The increase in event income was accretive to the net interest margin by four basis points. Purchase accounting accretion on acquired loans was $3.6 million and $1.1 million for the three-month periods ended June 30, 2026 and March 31, 2026, respectively, and average purchase accounting loan discounts were $42.0 million and $12.5 million for the three-month periods ended June 30, 2026 and March 31, 2026, respectively. The increase in accretion income along with the increase in the purchase accounting loan discounts, both of which resulted from the acquisition of Mountain Commerce, increased the net interest margin by six basis points for the three-month period ended June 30, 2026.
Net interest income on a fully taxable equivalent basis was $244.3 million for the three-month period ended June 30, 2026, compared to $226.6 million for the three-month period ended March 31, 2026. This increase in net interest income for the three-month period ended June 30, 2026, was the result of a $25.8 million increase in interest income, which was partially offset by an $8.1 million increase in interest expense. The $25.8 million increase in interest income was primarily the result of a $24.6 million increase in loan income and a $1.0 million increase in income from investments. The $8.1 million increase in interest expense was due to an $8.3 million increase in interest expense on deposits, which was partially offset by a $346,000 decrease in interest expense on FHLB and other borrowed funds.
The Company reported $53.5 million of non-interest income for the second quarter of 2026. The most important components of non-interest income were $13.1 million from other income, $13.0 million from other service charges and fees, $10.0 million from service charges on deposit accounts, $6.1 million from trust fees, $5.1 million in mortgage lending income, $2.8 million from dividends from FHLB, FRB, FNBB and other, $1.6 million from the increase in cash value of life insurance, $817,000 in income from the fair value adjustment for marketable securities and $578,000 in insurance commissions. Included within other income was $274,000 in bank-owned life insurance death benefit income.
Non-interest expense for the second quarter of 2026 was $135.5 million. The most important components of non-interest expense were $68.7 million of salaries and employee benefits expense, $28.9 million in other operating expense, $15.8 million in occupancy and equipment expenses, $12.7 million in merger and acquisition expenses and $9.3 million in data processing expenses. For the second quarter of 2026, our efficiency ratio was 44.54%, and our efficiency ratio, as adjusted (non-GAAP), was 40.46%
.
Financial Condition
Total loans receivable were $17.13 billion at June 30, 2026, compared to $15.63 billion at March 31, 2026. Total deposits were $19.11 billion at June 30, 2026, compared to $17.74 billion at March 31, 2026. Total assets were $24.71 billion at June 30, 2026, compared to $23.20 billion at March 31, 2026.
During the second quarter of 2026, the Company had a $1.49 billion increase in loans. During the quarter, we acquired $1.47 billion in loans, net of purchase accounting discounts, from MCBI. Our community banking footprint experienced $46.4 million in organic loan growth during the quarter ended June 30, 2026, while Centennial CFG experienced $22.6 million of organic loan decline in the second quarter, with $2.04 billion of loans outstanding at June 30, 2026.
Non-performing loans to total loans were 1.08% and 1.16% at June 30, 2026 and March 31, 2026, respectively. Non-performing assets to total assets were 0.93% and 0.97% at June 30, 2026 and March 31, 2026, respectively. Net loans charged-off were $5.8 million and $1.4 million for the three months ended June 30, 2026 and March 31, 2026, respectively. The charge-off detail by region for the quarters ended June 30, 2026 and March 31, 2026 can be seen below.
For the Three Months Ended June 30, 2026
(in thousands)
Texas
Arkansas
Centennial CFG
Shore Premier Finance
Florida
Tennessee
Alabama
Total
Charge-offs
$
1,708
2,605
—
1,896
286
11
14
6,520
Recoveries
(249
)
(324
(5
(142
(2
(722
Net charge-offs (recoveries)
1,459
2,281
1,891
144
12
5,798
For the Three Months Ended March 31, 2026
1,720
982
137
10
2,849
(788
(278
(277
(54
(3
(1,400
932
704
83
7
1,449
At June 30, 2026, non-performing loans were $185.3 million, and non-performing assets were $228.6 million. At March 31, 2026, non-performing loans were $182.1 million, and non-performing assets were $224.1 million.
The table below shows the non-performing loans and non-performing assets by region as of June 30, 2026:
Non-accrual loans
123,170
19,529
11,886
24,235
4,335
44
183,199
Loans 90+ days past due
690
238
282
916
2,126
Total non-performing loans
123,860
19,767
24,517
5,251
185,325
Foreclosed assets held for sale
15,647
2,028
22,812
260
1,392
42,139
Other non-performing assets
1,140
Total other non-performing assets
43,279
Total non-performing assets
139,507
21,795
13,026
24,777
6,643
228,604
The table below shows the non-performing loans and non-performing assets by region as of March 31, 2026:
119,333
21,833
787
12,131
25,532
23
179,639
1,077
36
1,368
2,481
120,410
21,869
26,900
182,120
16,164
1,638
40,874
42,014
136,574
23,507
23,599
13,271
27,160
224,134
The Company’s allowance for credit losses on loans was $328.4 million, or 1.92% of total loans, at June 30, 2026 compared to $297.6 million, or 1.90% of total loans, at March 31, 2026. As of June 30, 2026 and March 31, 2026, the Company’s allowance for credit losses on loans was 177.19% and 163.43% of its total non-performing loans, respectively.
Shareholders’ equity was $4.55 billion at June 30, 2026, which increased approximately $197.9 million from March 31, 2026. The net increase in shareholders’ equity is primarily associated with the $146.0 million of common stock issued to the Mountain Commerce shareholders, the $77.1 million increase in retained earnings and the $10.4 million increase in accumulated other comprehensive income, which was partially offset by the $42.3 million in dividends paid during the quarter and the $40.5 million in stock repurchases for the quarter. Book value per common share was $22.68 at June 30, 2026, compared to $22.15 at March 31, 2026. Tangible book value per common share (non-GAAP) was $15.32
at June 30, 2026, compared to $14.87
at March 31, 2026. Book value per common share and tangible book value per common share, as of June 30, 2026, were both records for the Company.
Stock Repurchases and Dividends
During the three-month period ended June 30, 2026, the Company repurchased 1.5 million shares of common stock, which equated to a shareholder buyback yield of 0.77%
. In comparison, during the three-month period ended March 31, 2026, the Company repurchased 507,622 shares of common stock, which equated to a shareholder buyback yield of 0.25%
. The Company defines shareholder buyback yield as the percentage of the Company’s market capitalization spent on share repurchases. It reflects how much the Company is returning to the shareholders by reducing the number of outstanding shares, and it is calculated by dividing the Company’s total share repurchase cost for the period by the Company’s total market capitalization at the beginning of the period.
In addition, during the quarter ended June 30, 2026, the Company paid a dividend of $0.21 per share. This cash dividend was consistent with the dividend paid during the first quarter of 2026.
Branches
The Company currently has 75 branches in Arkansas, 78 branches in Florida, 60 branches in Texas, 8 branches in Tennessee, 5 branches in Alabama and one branch in New York City.
Conference Call
Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, July 16, 2026. We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link:
https://events.q4inc.com/attendee/346859709
. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link:
https://events.q4inc.com/analyst/346859709?pwd=sU182NPD
. Participants who pre-register will be given the phone number and unique access codes 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 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 1-833-461-5787, Passcode: 346859709. A replay of the call will be available using the following link:
. Internet access to the call will be available live or in recorded version on the Company's website at
www.homebancshares.com
About Home BancShares
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, Texas, Tennessee, South Alabama and New York City. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.” The Company was founded in 1998. Visit www.homebancshares.com or www.my100bank.com for more information.
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 net income (earnings), as adjusted; pre-tax, pre-provision, net income (PPNR); PPNR, as adjusted; pre-tax net income, as adjusted, to total revenue (net); pre-tax, pre-provision, profit percentage; pre-tax, pre-provision, profit percentage, as adjusted; diluted earnings per common share, as adjusted; return on average assets, as adjusted; return on average assets excluding intangible amortization; return on average assets, as adjusted, excluding intangible amortization; return on average common equity, as adjusted; return on average tangible common equity; return on average tangible common equity, as adjusted; return on average tangible common equity excluding intangible amortization; return on average tangible common equity, as adjusted, excluding intangible amortization; efficiency ratio, as adjusted; tangible book value per common share and tangible common equity to tangible assets--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 and equity available to common shareholders for certain significant items or transactions that management believes are not indicative of the Company’s primary business operating results. 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.
(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.
(2) Calculation of this metric is included in the schedules accompanying this release.
General
This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future, including future financial results. 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 are not guarantees of future events, performance or results. When we use words or phrases like “may,” “will,” “plan,” “propose,” “contemplate,” “anticipate,” “believe,” “intend,” “continue,” “expect,” “project,” “predict,” “estimate,” “could,” “should,” “would” and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risks 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: economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment, including any future impacts from inflation or changes in tariffs or trade policies; the risk that the anticipated benefits from the completed acquisition of MCBI may not be fully realized or may take longer to realize than expected, including as a result of 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 Home and MCBI operate; the ability to promptly and effectively integrate the businesses of Home and MCBI; the ability to retain key employees, customers and business relationships following the acquisition; the reaction to the completed acquisition of the companies’ customers, employees and counterparties; diversion of management time on integration-related issues; the possibility that the costs of integration may be greater than anticipated; the effect of any future mergers, acquisitions or other transactions to which we or our bank subsidiary may from time to time be a party, including as a result of one or more of the factors described above as they would relate to such transaction; the ability to identify, complete and successfully integrate additional acquisitions; the availability of and access to capital and liquidity on terms acceptable to us; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations; technological changes and cybersecurity risks and incidents; the effects of changes in accounting policies and practices; changes in governmental monetary and fiscal policies; the impacts of political instability, ongoing or future military conflicts and other major domestic or international events; the impacts of recent or future adverse weather events, including hurricanes, and other natural disasters; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; potential increases in deposit insurance assessments, increased regulatory scrutiny or market disruptions resulting from financial challenges in the banking industry; disruptions, uncertainties and related effects on credit quality, liquidity and other aspects of our business and operations that may result from any future public health crises; changes in the assumptions used in making the forward-looking statements; and 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, 2025, filed with the SEC on February 27, 2026. Home assumes no obligation to update the information in this press release, except as otherwise required by law.
FOR MORE INFORMATION CONTACT:
Donna Townsell
Director of Investor Relations
Home BancShares, Inc.
(501) 328-4625
Consolidated End of Period Balance Sheets
(Unaudited)
(In thousands)
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
ASSETS
Cash and due from banks
279,660
296,209
237,224
284,750
291,344
Interest-bearing deposits with other banks
772,859
815,714
430,113
516,170
809,729
Cash and cash equivalents
1,052,519
1,111,923
667,337
800,920
1,101,073
Federal funds sold
5,450
6,025
3,000
3,625
2,600
Investment securities - available-for-sale, net of allowance for credit losses
2,776,216
2,803,847
2,871,931
2,924,496
2,899,968
Investment securities - held-to-maturity, net of allowance for credit losses
1,254,802
1,256,635
1,259,262
1,264,200
1,265,292
Total investment securities
4,031,018
4,060,482
4,131,193
4,188,696
4,165,260
Loans receivable
17,127,208
15,633,628
15,686,209
15,285,972
15,180,624
Allowance for credit losses
(328,369
(297,634
(297,583
(285,649
(281,869
Loans receivable, net
16,798,839
15,335,994
15,388,626
15,000,323
14,898,755
Bank premises and equipment, net
437,552
374,010
369,324
374,515
379,729
39,831
41,263
41,529
Cash value of life insurance
233,515
221,830
220,469
219,075
218,113
Accrued interest receivable
108,384
106,628
108,939
110,702
107,732
Deferred tax asset, net
153,803
143,987
148,022
155,963
174,323
Goodwill
1,410,211
1,398,253
Core deposit intangible
65,541
30,355
32,293
34,231
36,255
Other assets
374,277
371,318
374,592
380,236
383,400
Total assets
24,713,248
23,201,679
22,881,879
22,707,802
22,907,022
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Deposits:
Demand and non-interest-bearing
4,447,710
3,994,217
3,868,405
3,880,101
4,024,574
Savings and interest-bearing transaction accounts
12,423,361
11,971,866
11,792,828
11,500,921
11,571,949
Time deposits
2,242,034
1,772,192
1,818,724
1,946,674
1,891,909
Total deposits
19,113,105
17,738,275
17,479,957
17,327,696
17,488,432
Securities sold under agreements to repurchase
158,744
157,409
155,803
145,998
140,813
FHLB and other borrowed funds
450,250
500,250
550,500
Accrued interest payable and other liabilities
164,112
176,727
169,733
189,551
203,004
Subordinated debentures
279,602
279,433
279,265
279,093
438,957
Total liabilities
20,165,813
18,852,094
18,585,008
18,492,838
18,821,706
Shareholders' equity
Common stock
2,005
1,964
1,969
1,972
Capital surplus
2,301,551
2,191,243
2,201,923
2,214,211
2,221,576
Retained earnings
2,412,859
2,335,787
2,258,871
2,181,911
2,097,712
Accumulated other comprehensive loss
(168,980
(179,409
(165,887
(183,127
(235,944
Total shareholders' equity
4,547,435
4,349,585
4,296,871
4,214,964
4,085,316
Total liabilities and shareholders' equity
Consolidated Statements of Income
Quarter Ended
Six Months Ended
Interest income:
Loans
298,066
273,473
285,491
283,165
276,041
571,539
546,825
Investment securities
Taxable
25,787
24,728
25,860
26,326
26,444
50,515
53,877
Tax-exempt
7,811
7,829
7,834
7,743
7,626
15,640
15,276
Deposits - other banks
5,135
4,945
4,405
6,242
8,951
10,080
15,571
37
48
41
56
53
85
108
Total interest income
336,836
311,023
323,631
323,532
319,115
647,859
631,657
Interest expense:
Interest on deposits
87,432
79,145
83,739
87,962
88,489
166,577
175,275
4,346
4,692
4,985
5,378
5,539
9,038
11,441
1,057
927
962
1,019
1,012
1,984
2,086
2,358
2,355
2,359
3,007
4,123
4,713
8,247
Total interest expense
95,193
87,119
92,045
97,366
99,163
182,312
197,049
Net interest income
241,643
223,904
231,586
226,166
219,952
465,547
434,608
Provision for credit losses on loans
5,200
1,500
14,400
6,700
Recovery of credit losses on unfunded commitments
(1,000
Recovery of credit losses on investment securities
(2,194
Total credit loss expense
500
3,506
5,700
Net interest income after credit loss expense
236,443
223,404
217,186
222,660
216,952
459,847
431,608
Non-interest income:
Service charges on deposit accounts
10,030
10,007
10,480
10,486
9,552
20,037
19,202
Other service charges and fees
12,973
9,810
11,148
12,130
12,643
22,783
23,332
Trust fees
6,109
5,482
5,121
4,600
5,234
11,591
9,994
Mortgage lending income
5,139
4,430
4,680
4,691
4,780
9,569
8,379
Insurance commissions
578
536
460
574
589
1,114
1,124
Increase in cash value of life insurance
1,553
1,400
1,404
1,415
2,921
3,257
Dividends from FHLB, FRB, FNBB & other
2,841
2,536
2,678
2,658
2,657
5,377
5,375
Gain on SBA loans
80
308
46
288
Gain (loss) on branches, equipment and other assets, net
3
(7
(66
972
(4
809
Gain (loss) on OREO, net
332
707
203
(1
13
1,039
(363
Fair value adjustment for marketable securities
817
(1,248
1,173
1,020
(238
(431
204
Other income
13,079
9,102
12,838
13,963
13,462
22,181
24,904
Total non-interest income
53,454
42,803
50,500
51,505
51,079
96,257
96,505
Non-interest expense:
Salaries and employee benefits
68,742
63,236
62,891
63,804
64,318
131,978
126,173
Occupancy and equipment
15,787
14,867
14,434
14,828
14,023
30,654
28,448
Data processing expense
9,307
8,884
8,653
8,871
8,364
18,191
16,922
Merger and acquisition expenses
12,726
394
580
13,120
Other operating expenses
28,932
26,594
27,805
27,335
29,335
55,526
57,425
Total non-interest expense
135,494
113,975
114,363
114,838
116,040
249,469
228,968
154,403
152,232
153,323
159,327
151,991
306,635
299,145
Income tax expense
35,076
34,023
35,098
35,723
33,588
69,099
65,533
119,327
118,209
118,225
123,604
118,403
237,536
233,612
Selected Financial Information
(Dollars and shares in thousands, except per share data)
PER SHARE DATA
Diluted earnings per common share
0.59
0.60
0.63
1.19
1.18
Diluted earnings per common share, as adjusted (non-GAAP)
0.64
0.61
0.58
1.24
1.14
Basic earnings per common share
Dividends per share - common
0.21
0.20
0.395
0.77
%
0.25
0.27
0.18
0.49
1.00
1.02
Book value per common share
22.68
22.15
21.88
21.41
20.71
Tangible book value per common share (non-GAAP)
15.32
14.87
14.60
14.13
13.44
STOCK INFORMATION
Average common shares outstanding
201,223
196,528
196,553
197,078
197,532
198,889
198,091
Average diluted shares outstanding
201,420
196,733
196,764
197,288
197,765
199,088
198,289
End of period common shares outstanding
200,460
196,394
196,357
196,889
197,239
ANNUALIZED PERFORMANCE METRICS
Return on average assets (ROA)
1.95
2.09
2.06
2.17
2.08
2.02
Return on average assets, as adjusted: (ROA, as adjusted) (non-GAAP)
2.05
2.10
Return on average assets excluding intangible amortization (non-GAAP)
2.12
2.25
2.22
2.34
2.18
Return on average assets, as adjusted, excluding intangible amortization (non-GAAP)
2.27
2.26
Return on average common equity (ROE)
10.55
11.09
11.04
11.91
11.77
10.78
11.76
Return on average common equity, as adjusted: (ROE, as adjusted) (non-GAAP)
11.32
11.08
11.01
11.54
11.39
11.18
11.40
Return on average tangible common equity (ROTCE) (non-GAAP)
15.67
16.56
16.65
18.28
18.26
16.03
18.33
Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) (non-GAAP)
16.82
16.55
16.60
17.70
17.68
16.62
17.77
Return on average tangible common equity excluding intangible amortization (non-GAAP)
15.96
16.76
16.85
18.51
18.50
16.28
18.57
Return on average tangible common equity, as adjusted, excluding intangible amortization (non-GAAP)
17.11
16.80
17.93
17.92
16.87
18.02
(Dollars in thousands)
Efficiency ratio
44.54
41.59
39.54
40.21
41.68
43.14
41.94
Efficiency ratio, as adjusted (non-GAAP)
40.46
41.99
39.53
40.95
42.01
41.19
42.42
Net interest margin - FTE (NIM)
4.51
4.61
4.56
4.44
Fully taxable equivalent adjustment
2,653
2,661
2,252
2,916
2,526
5,314
5,060
295,097
266,707
282,086
277,671
271,031
561,804
531,113
159,603
152,732
167,723
162,833
154,991
312,335
302,145
171,238
152,677
167,130
157,704
150,404
323,915
293,225
52.32
57.08
54.35
57.38
56.08
54.58
56.32
56.27
57.06
54.14
55.53
54.39
56.64
54.64
54.08
57.27
59.46
58.64
57.19
55.60
56.89
58.03
57.25
59.25
56.80
55.49
57.66
55.21
Total purchase accounting accretion
3,618
1,061
1,265
1,272
1,233
4,679
2,611
Average purchase accounting loan discounts
41,962
12,507
13,753
15,009
16,219
27,311
16,873
OTHER OPERATING EXPENSES
Advertising
2,214
2,227
2,114
2,149
2,054
4,441
3,982
Amortization of intangibles
2,889
1,938
2,024
2,025
4,827
4,072
Electronic banking expense
3,223
3,326
3,288
3,357
3,172
6,549
6,227
Directors' fees
416
518
388
405
431
934
883
Due from bank service charges
344
333
324
404
283
677
564
FDIC and state assessment
3,045
1,599
2,970
3,245
1,636
4,644
5,023
Insurance
1,090
1,074
1,044
1,110
1,049
2,164
2,048
Legal and accounting
1,426
914
1,362
2,360
2,340
6,001
Other professional fees
2,247
1,946
2,168
2,083
2,211
4,193
4,158
Operating supplies
769
748
759
773
711
1,517
1,422
Postage
684
543
538
488
1,227
991
Telephone
363
382
367
419
687
855
Other expense
10,261
11,065
10,504
9,819
12,496
21,326
21,199
Total other operating expenses
BALANCE SHEET RATIOS
Total loans to total deposits
89.61
88.13
89.74
88.22
86.80
Common equity to assets
18.40
18.75
18.78
18.56
17.83
Tangible common equity to tangible assets (non-GAAP)
13.22
13.42
13.36
13.08
12.35
LOANS RECEIVABLE
Real estate
Commercial real estate loans
Non-farm/non-residential
5,921,829
5,395,529
5,290,112
5,494,492
5,553,182
Construction/land development
2,780,116
2,613,604
2,726,993
2,709,197
2,695,561
Agricultural
329,231
321,046
332,412
331,301
315,926
Residential real estate loans
Residential 1-4 family
2,545,462
2,100,374
2,134,334
2,142,375
2,138,990
Multifamily residential
1,269,728
1,232,639
1,140,911
716,595
620,439
Total real estate
12,846,366
11,663,192
11,624,762
11,393,960
11,324,098
Consumer
1,278,008
1,254,936
1,253,746
1,233,523
1,218,834
Commercial and industrial
2,285,054
2,172,267
2,222,401
2,100,268
2,107,326
356,611
329,563
359,879
346,167
323,457
Other
361,169
213,670
225,421
212,054
206,909
ALLOWANCE FOR CREDIT LOSSES
Balance, beginning of period
297,634
297,583
285,649
281,869
279,944
Allowance for credit losses on acquired loans - MCBI
31,333
Loans charged off
3,063
4,651
4,071
Recoveries of loans previously charged off
722
597
1,731
2,996
Net loans charged off (recovered)
2,466
2,920
1,075
Provision for credit losses - loans
Balance, end of period
328,369
Net charge-offs (recoveries) to average total loans
0.14
0.04
0.06
0.08
0.03
1.92
1.90
1.87
1.86
NON-PERFORMING ASSETS
Non-performing loans
78,002
81,087
89,261
Loans past due 90 days or more
6,980
4,125
7,031
84,982
85,212
96,292
Foreclosed assets held for sale, net
124,813
126,475
137,821
Allowance for credit losses for loans to non-performing loans
177.19
163.43
350.17
335.22
292.72
Non-performing loans to total loans
1.08
1.16
0.54
0.56
0.93
0.97
0.55
Consolidated Net Interest Margin
Three Months Ended
June 30, 2026
March 31, 2026
Average Balance
Income/ Expense
Yield/ Rate
Earning assets
Interest-bearing balances due from banks
555,186
3.71
557,451
3.60
4,042
3.67
5,282
3.69
Investment securities - taxable
2,936,008
3.52
2,935,901
3.42
Investment securities - non-taxable - FTE
1,165,876
10,260
3.53
1,175,663
10,285
3.55
Loans receivable - FTE
17,083,743
298,270
7.00
15,680,598
273,678
7.08
Total interest-earning assets
21,744,855
339,489
6.26
20,354,895
313,684
6.25
Non-earning assets
2,780,403
2,599,546
24,525,258
22,954,441
Interest-bearing liabilities
12,392,404
68,650
11,868,976
64,408
2.20
2,301,685
18,782
3.27
1,795,501
14,737
3.33
Total interest-bearing deposits
14,694,089
2.39
13,664,477
2.35
Federal funds purchased
30
Securities sold under agreement to repurchase
167,885
2.53
151,877
2.48
466,734
3.73
3.80
279,519
3.38
279,350
Total interest-bearing liabilities
15,608,257
2.45
14,595,954
2.42
Non-interest bearing liabilities
Non-interest bearing deposits
4,222,813
3,856,492
Other liabilities
158,476
177,275
19,989,546
18,629,721
4,535,712
4,324,720
Net interest spread
3.81
3.83
Net interest income and margin - FTE
244,296
226,565
June 30, 2025
556,312
3.65
713,455
4.40
4,658
3.68
4,984
4.37
2,935,955
3.47
3,137,296
3.46
1,170,742
20,545
3.54
1,124,351
20,094
16,386,047
571,948
7.04
14,975,109
547,067
7.37
21,053,714
653,173
19,955,195
636,717
6.43
2,702,912
2,718,779
23,756,626
22,673,974
12,132,136
133,059
2.21
11,472,548
140,713
2.47
2,049,991
33,518
3.30
1,844,059
34,562
3.78
14,182,127
2.37
13,316,607
2.65
15
159,925
2.50
149,773
2.81
483,399
3.77
583,739
3.95
279,435
3.40
439,100
3.79
15,104,901
2.43
14,489,242
2.74
4,040,665
3,981,425
167,823
196,232
19,313,389
18,666,899
4,443,237
4,007,075
470,861
439,668
Non-GAAP Reconciliations
NET INCOME (EARNINGS), AS ADJUSTED
GAAP net income available to common shareholders (A)
Pre-tax adjustments
Merger and acquisition expense
Gain on retirement of subordinated debt
(1,882
FDIC special assessment credit
(1,697
(1,516
BOLI death benefits
(274
(187
(1,243
Gain on sale of premises and equipment
(983
(817
1,248
(1,173
(1,020
(204
Special income from equity investment
(3,498
(7,389
Legal fee reimbursement
(885
Legal claims expense
3,300
Recoveries on historic losses
(2,040
Total pre-tax adjustments
11,635
(55
(593
(5,129
(4,587
11,580
(8,920
Tax-effect of adjustments
2,901
(13
(231
(1,207
2,888
(1,876
Total adjustments after-tax (B)
8,734
(42
(362
(3,922
(3,770
8,692
(7,044
Net income, as adjusted (C)
128,061
118,167
117,863
119,682
114,633
246,228
226,568
Average diluted shares outstanding (D)
GAAP diluted earnings per share: (A/D)
Adjustments after-tax: (B/D)
0.05
0.00
(0.02
(0.04
Diluted earnings per common share, as adjusted: (C/D)
ANNUALIZED RETURN ON AVERAGE ASSETS
Return on average assets: (A/E)
Return on average assets, as adjusted: (ROA, as adjusted) ((A+D)/E)
Return on average assets excluding intangible amortization: ((A+C)/(E-F))
Return on average assets, as adjusted, excluding intangible amortization: ((A+C+D)/(E-F))
Amortization of intangibles (B)
Amortization of intangibles after-tax (C)
2,185
1,466
1,529
1,530
3,651
3,077
Adjustments after-tax (D)
Average assets (E)
22,786,852
22,638,938
22,797,738
Average goodwill & core deposit intangible (F)
1,481,989
1,429,527
1,431,479
1,433,474
1,435,480
1,455,903
1,436,492
ANNUALIZED RETURN ON AVERAGE COMMON EQUITY
Return on average common equity: (A/D)
Return on average common equity, as adjusted: (ROE, as adjusted) ((A+C)/D)
Return on average tangible common equity: (ROTCE) (A/(D-E))
Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) ((A+C)/(D-E))
Return on average tangible common equity excluding intangible amortization: (B/(D-E))
Return on average tangible common equity, as adjusted, excluding intangible amortization: ((B+C)/(D-E))
Earnings excluding intangible amortization (B)
121,512
119,675
119,691
125,133
119,933
241,187
236,689
Adjustments after-tax (C)
Average common equity (D)
4,248,856
4,115,884
4,036,155
Average goodwill & core deposits intangible (E)
EFFICIENCY RATIO & P5NR
Efficiency ratio: ((D-G)/(B+C+E))
Efficiency ratio, as adjusted: ((D-G-I)/(B+C+E-H))
Pre-tax net income to total revenue (net) (A/(B+C))
Pre-tax net income, as adjusted, to total revenue (net) ((A+F)/(B+C))
Pre-tax, pre-provision, net income (PPNR) (B+C-D)
Pre-tax, pre-provision, net income, as adjusted (B+C-D+F)
(Pre-tax, pre-provision, profit percentage) PPNR to total revenue (net)) (B+C-D)/(B+C)
, as adjusted (B+C-D+F)/(B+C)
Pre-tax net income (A)
Net interest income (B)
Non-interest income (C)
Non-interest expense (D)
Fully taxable equivalent adjustment (E)
Total pre-tax adjustments (F)
Amortization of intangibles (G)
Adjustments:
1,882
Gain (loss) on OREO
3,498
7,389
274
187
1,243
Legal expense reimbursement
885
2,040
Total non-interest income adjustments (H)
(548
1,387
5,062
6,373
878
10,167
Total non-interest expense adjustments (I)
(1,303
1,784
11,423
TANGIBLE BOOK VALUE PER COMMON SHARE
Book value per common share: (A/B)
Tangible book value per common share: ((A-C-D)/B)
Total shareholders' equity (A)
End of period common shares outstanding (B)
Goodwill (C)
Core deposit and other intangibles (D)
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS
Equity to assets: (B/A)
Tangible common equity to tangible assets: ((B-C-D)/(A-C-D))
Total assets (A)
Total shareholders' equity (B)
Shareholder Buyback Yield
(Dollars and shares in thousands)
SHAREHOLDER BUYBACK YIELD
Shareholder buyback yield: (A/B)
Shares repurchased
508
541
350
1,000
2,008
2,000
Average price per share
26.94
27.32
27.26
28.34
26.99
27.04
28.33
Principal cost
40,415
13,877
14,747
9,918
26,989
54,292
56,657
Excise tax
386
1
141
93
459
387
576
Total share repurchase cost (A)
40,801
13,878
14,888
10,011
27,448
54,679
57,233
Shares outstanding beginning of period
198,206
198,882
Price per share beginning of period
26.93
27.78
28.30
28.46
28.27
Market capitalization beginning of period (B)
5,288,890
5,454,797
5,571,959
5,613,422
5,603,284
5,628,361
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb773f21-ccd2-4284-aa93-ec54a1eedf30
https://www.globenewswire.com/NewsRoom/AttachmentNg/7dbdedc1-b84d-44e2-ad8a-1921ff2a0e3d
https://www.globenewswire.com/NewsRoom/AttachmentNg/e44c3f85-246c-4fa6-a093-88b3fac80495
https://www.globenewswire.com/NewsRoom/AttachmentNg/999ba47f-7860-43b6-9330-b833a17b94c3
https://www.globenewswire.com/NewsRoom/AttachmentNg/63aa328d-d66a-434f-8a35-fc8692916131
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c44034a-f065-47d3-920f-aa8d92795010
https://www.globenewswire.com/NewsRoom/AttachmentNg/4039dadf-6fc6-4c26-bbbd-942db0d55ca4
https://www.globenewswire.com/NewsRoom/AttachmentNg/a61febd1-9db8-4e21-9f67-dfdcdf052fbd
https://www.globenewswire.com/NewsRoom/AttachmentNg/57b7874d-d368-479c-b640-9a01876760a5
https://www.globenewswire.com/NewsRoom/AttachmentNg/f202ea6f-f34e-4117-856e-f452bd77cee0
https://www.globenewswire.com/NewsRoom/AttachmentNg/173b5fc7-e069-4a79-84da-9f66c89eec2a
QTD Net Income
QTD PPNR
QTD Net Interest Income
QTD Non-Interest Income
QTD Total Revenue (Net)
QTD Expenses
QTD Efficiency Ratio
QTD ROA
QTD NIM
QTD NIM Yields/Rates
QTD Book Value Per Share
Source: Home BancShares, Inc.