Consistency, Strength & Earnings Power Remain the Story at HOMB

CONWAY, Ark., July 16, 2025 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB) (“Home” or the “Company”), parent company of Centennial Bank, released quarterly earnings today. Quarterly HighlightsMetricQ2 2025Q1 2025Q4 2024Q3 2024Q2 2024Net income$118.4 million$115.2 million$100.6 million$100.0 million$101.5 millionNet income, as adjusted (non-GAAP)(1)$114.6 million$111.9 million$99.8 million$99.0 million$103.9 millionTotal revenue (net)$271.0 million$260.1 million$258.4 million$258.0 million$254.6 millionIncome before income taxes$152.0 million$147.2 million$129.5 million$129.1 million$133.4 millionPre-tax, pre-provision, net income (PPNR) (non-GAAP)(1)$155.0 million$147.2 million$146.2 million$148.0 million$141.4 millionPPNR, as adjusted (non-GAAP)(1)$150.4 million$142.8 million$145.2 million$146.6 million$141.9 millionPre-tax net income to total revenue (net)56.08%56.58%50.11%50.03%52.40%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1)54.39%54.91%49.74%49.49%52.59%P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)57.19%56.58%56.57%57.35%55.54%P5NR, as adjusted (non-GAAP)(1)55.49%54.91%56.20%56.81%55.73%ROA2.08%2.07%1.77%1.74%1.79%ROA, as adjusted (non-GAAP)(1)2.02%2.01%1.76%1.72%1.83%NIM4.44%4.44%4.39%4.28%4.27%Purchase accounting accretion$1.2 million$1.4 million$1.6 million$1.9 million$1.9 millionROE11.77%11.75%10.13%10.23%10.73%ROE, as adjusted (non-GAAP)(1)11.39%11.41%10.05%10.12%10.98%ROTCE (non-GAAP)(1)18.26%18.39%15.94%16.26%17.29%ROTCE, as adjusted (non-GAAP)(1)17.68%17.87%15.82%16.09%17.69%Diluted earnings per share$0.60$0.58$0.51$0.50$0.51Diluted earnings per share, as adjusted (non-GAAP)(1)$0.58$0.56$0.50$0.50$0.52Non-performing assets to total assets0.60%0.56%0.63%0.63%0.56%Common equity tier 1 capital15.6%15.4%15.1%14.7%14.4%Leverage13.4%13.3%13.0%12.5%12.3%Tier 1 capital15.6%15.4%15.1%14.7%14.4%Total risk-based capital19.3%19.1%18.7%18.3%18.0%Allowance for credit losses to total loans1.86%1.87%1.87%2.11%2.00%Book value per share$20.71$20.40$19.92$19.91$19.30Tangible book value per share (non-GAAP)(1)$13.44$13.15$12.68$12.67$12.08Dividends per share$0.20$0.195$0.195$0.195$0.18Shareholder buyback yield(2)0.49%0.53%0.05%0.56%0.67% (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. "I am once again very pleased with our quarterly results. Diluted EPS of $0.60 and net income of $118.4 million are both records for HOMB. The ongoing, consistent performance from our bankers led to numerous other records being set in the second quarter, further highlighting that strength is no accident," said John Allison, Chairman & CEO of HOMB. Stock Repurchases and Dividends During the three-month period ended June 30, 2025, the Company repurchased 1.0 million shares of common stock, which equated to a shareholder buyback yield of 0.49%(1). In comparison, during the three-month period ended March 31, 2025, the Company repurchased 1.0 million shares of common stock, which equated to a shareholder buyback yield of 0.53%(1). 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, 2025, the Company paid a dividend of $0.20 per share. This cash dividend represented a $0.005 per share, or 2.6%, increase over the $0.195 cash dividend paid during the first quarter of 2025. Operating Highlights Net income for the three-month period ended June 30, 2025 was $118.4 million, or $0.60 diluted earnings per share, both of which were records for the Company. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $114.6 million(2) and $0.58 per share(2), respectively, for the three months ended June 30, 2025. Our net interest margin was 4.44% for both of the three-month periods ended June 30, 2025 and March 31, 2025. The yield on loans was 7.36% and 7.38% for the three months ended June 30, 2025 and March 31, 2025, respectively, as average loans increased from $14.89 billion to $15.06 billion. Additionally, the rate on interest bearing deposits decreased to 2.64% as of June 30, 2025, from 2.67% as of March 31, 2025, while average interest-bearing deposits increased from $13.20 billion to $13.43 billion. During the second quarter of 2025, there was $516,000 of event interest income compared to $1.3 million of event interest income for the first quarter of 2025. Purchase accounting accretion on acquired loans was $1.2 million and $1.4 million for the three-month periods ended June 30, 2025 and March 31, 2025, respectively, and average purchase accounting loan discounts were $16.2 million and $17.5 million for the three-month periods ended June 30, 2025 and March 31, 2025, respectively. Net interest income on a fully taxable equivalent basis was $222.5 million for the three-month period ended June 30, 2025, and $217.2 million for the three-month period ended March 31, 2025. This increase in net interest income for the three-month period ended June 30, 2025, was the result of a $6.6 million increase in interest income, partially offset by a $1.3 million increase in interest expense. The $6.6 million increase in interest income was primarily the result of a $5.3 million increase in loan income and a $2.3 million increase in income from deposits with other banks, partially offset by a $1.0 million decrease in investment income. The $1.3 million increase in interest expense was due to a $1.7 million increase in interest expense on deposits, partially offset by a $363,000 decrease in FHLB and other borrowed funds. The Company reported $51.1 million of non-interest income for the second quarter of 2025. The most important components of non-interest income were $13.5 million from other income, $12.6 million from other service charges and fees, $9.6 million from service charges on deposit accounts, $5.2 million from trust fees, $4.8 million in mortgage lending income, $2.7 million from dividends from FHLB, FRB, FNBB and other, $1.4 million from the increase in cash value of life insurance and $972,000 from the gain on sale of branches, equipment and other assets, net. Included within other income was $3.5 million in special income from equity investments and $885,000 in legal fee reimbursements. Non-interest expense for the second quarter of 2025 was $116.0 million. The most important components of non-interest expense were $64.3 million from salaries and employee benefits, $29.3 million in other operating expense, $14.0 million in occupancy and equipment expenses and $8.4 million in data processing expenses. Included within other expense was $3.3 million in legal claims expense, which was partially offset by a $1.5 million FDIC assessment reduction. For the second quarter of 2025, our efficiency ratio was 41.68%, and our efficiency ratio, as adjusted (non-GAAP), was 42.01%(2). Financial Condition Total loans receivable were $15.18 billion at June 30, 2025, compared to $14.95 billion at March 31, 2025. Total loans receivable of $15.18 billion were a record for the Company. Total deposits were $17.49 billion at June 30, 2025, compared to $17.54 billion at March 31, 2025. Total assets were $22.91 billion at June 30, 2025, compared to $22.99 billion at March 31, 2025. During the second quarter of 2025, the Company had a $228.5 million increase in loans. Our community banking footprint experienced $106.8 million in organic loan growth during the quarter ended June 30, 2025, and Centennial CFG experienced $121.7 million of organic loan growth and had loans of $1.83 billion at June 30, 2025. Non-performing loans to total loans were 0.63% and 0.60% at June 30, 2025 and March 31, 2025, respectively. Non-performing assets to total assets were 0.60% and 0.56% at June 30, 2025 and March 31, 2025, respectively. Net loans charged-off were $1.1 million for the three months ended June 30, 2025, and net loans recovered were $4.1 million for the three months ended March 31, 2025. The charge-off detail by region for the quarters ended June 30, 2025 and March 31, 2025 can be seen below. For the Three Months Ended June 30, 2025(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Alabama TotalCharge-offs $2,588 $462 $181 $582 $245 $13 $4,071 Recoveries (2,172) (223) — (22) (577) (2) (2,996)Net charge-offs (recoveries) $416 $239 $181 $560 $(332) $11 $1,075 For the Three Months Ended March 31, 2025(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Alabama TotalCharge-offs $444 $474 $— $53 $2,479 $8 $3,458 Recoveries (6,514) (228) (658) (3) (117) (2) (7,522)Net (recoveries) charge-offs $(6,070) $246 $(658) $50 $2,362 $6 $(4,064) At June 30, 2025, non-performing loans were $96.3 million, and non-performing assets were $137.8 million. At March 31, 2025, non-performing loans were $89.6 million, and non-performing assets were $129.4 million. The table below shows the non-performing loans and non-performing assets by region as June 30, 2025: (in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Alabama TotalNon-accrual loans 22,487 16,276 787 11,716 37,833 162 89,261Loans 90+ days past due 3,557 2,341 — — 1,133 — 7,031Total non-performing loans 26,044 18,617 787 11,716 38,966 162 96,292 Foreclosed assets held for sale 17,259 863 22,842 — 565 — 41,529Other non-performing assets — — — — — — —Total other non-performing assets 17,259 863 22,842 — 565 — 41,529Total non-performing assets 43,303 19,480 23,629 11,716 39,531 162 137,821 The table below shows the non-performing loans and non-performing assets by region as March 31, 2025: (in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Alabama TotalNon-accrual loans 23,694 15,214 2,766 5,444 39,108 157 86,383Loans 90+ days past due 3,264 — — — — — 3,264Total non-performing loans 26,958 15,214 2,766 5,444 39,108 157 89,647 Foreclosed assets held for sale 15,357 1,052 22,820 — 451 — 39,680Other non-performing assets 63 — — — — — 63Total other non-performing assets 15,420 1,052 22,820 — 451 — 39,743Total non-performing assets 42,378 16,266 25,586 5,444 39,559 157 129,390 The Company’s allowance for credit losses on loans was $281.9 million at June 30, 2025, or 1.86% of total loans, compared to the allowance for credit losses on loans of $279.9 million, or 1.87% of total loans, at March 31, 2025. As of June 30, 2025 and March 31, 2025, the Company’s allowance for credit losses on loans was 292.72% and 312.27% of its total non-performing loans, respectively. Stockholders’ equity was $4.09 billion at June 30, 2025, which increased approximately $42.8 million from March 31, 2025. The net increase in stockholders’ equity is primarily associated with the $78.9 million increase in retained earnings, which was partially offset by the $11.4 million increase in accumulated other comprehensive loss and the $27.5 million in stock repurchases for the quarter. Book value per common share was $20.71 at June 30, 2025, compared to $20.40 at March 31, 2025. Tangible book value per common share (non-GAAP) was $13.44(2) at June 30, 2025, compared to $13.15(2) at March 31, 2025. Book value per common share and tangible book value per common share, as of June 30, 2025, were both records for the Company. Branches The Company currently has 75 branches in Arkansas, 78 branches in Florida, 58 branches in Texas, 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 17, 2025. 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/133918928. 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://www.netroadshow.com/events/login?show=862a0326&confId=84106. 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 1-833-470-1428, Passcode: 171523. A replay of the call will be available by calling 1-866-813-9403, Passcode: 539251, which will be available until July 24, 2025, at 11:59 p.m. CT. 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, 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 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 is included in the schedules accompanying this release. (2) Calculation of this metric and the reconciliation to GAAP are 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,” “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 ability to identify, complete and successfully integrate new acquisitions; the risk that expected cost savings and other benefits from acquisitions may not be fully realized or may take longer to realize than expected; diversion of management time on acquisition-related issues; 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; political instability, military conflicts and other major domestic or international events; the impacts of recent or future adverse weather events, including hurricanes, and other natural disasters; 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; 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; 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, 2024, filed with the SEC on February 27, 2025. FOR MORE INFORMATION CONTACT:Donna TownsellDirector of Investor RelationsHome BancShares, Inc.(501) 328-4625 Home BancShares, Inc. Consolidated End of Period Balance Sheets (Unaudited) (In thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024ASSETS Cash and due from banks $291,344 $319,747 $281,063 $265,408 $229,209 Interest-bearing deposits with other banks 809,729 975,983 629,284 752,269 829,507 Cash and cash equivalents 1,101,073 1,295,730 910,347 1,017,677 1,058,716 Federal funds sold 2,600 6,275 3,725 6,425 — Investment securities - available-for-sale, net of allowance for credit losses 2,899,968 3,003,320 3,072,639 3,270,620 3,344,539 Investment securities - held-to-maturity, net of allowance for credit losses 1,265,292 1,269,896 1,275,204 1,277,090 1,278,853 Total investment securities 4,165,260 4,273,216 4,347,843 4,547,710 4,623,392 Loans receivable 15,180,624 14,952,116 14,764,500 14,823,979 14,781,457 Allowance for credit losses (281,869) (279,944) (275,880) (312,574) (295,856)Loans receivable, net 14,898,755 14,672,172 14,488,620 14,511,405 14,485,601 Bank premises and equipment, net 379,729 384,843 386,322 388,776 383,691 Foreclosed assets held for sale 41,529 39,680 43,407 43,040 41,347 Cash value of life insurance 218,113 221,621 219,786 219,353 218,198 Accrued interest receivable 107,732 115,983 120,129 118,871 120,984 Deferred tax asset, net 174,323 170,120 186,697 176,629 195,041 Goodwill 1,398,253 1,398,253 1,398,253 1,398,253 1,398,253 Core deposit intangible 36,255 38,280 40,327 42,395 44,490 Other assets 383,400 376,030 345,292 352,583 350,192 Total assets $22,907,022 $22,992,203 $22,490,748 $22,823,117 $22,919,905 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits: Demand and non-interest-bearing $4,024,574 $4,079,289 $4,006,115 $3,937,168 $4,068,302 Savings and interest-bearing transaction accounts 11,571,949 11,586,106 11,347,850 10,966,426 11,150,516 Time deposits 1,891,909 1,876,096 1,792,332 1,802,116 1,736,985 Total deposits 17,488,432 17,541,491 17,146,297 16,705,710 16,955,803 Securities sold under agreements to repurchase 140,813 161,401 162,350 179,416 137,996 FHLB and other borrowed funds 550,500 600,500 600,750 1,300,750 1,301,050 Accrued interest payable and other liabilities 203,004 207,154 181,080 238,058 230,011 Subordinated debentures 438,957 439,102 439,246 439,394 439,542 Total liabilities 18,821,706 18,949,648 18,529,723 18,863,328 19,064,402 Stockholders' equity Common stock 1,972 1,982 1,989 1,989 1,997 Capital surplus 2,221,576 2,246,312 2,272,794 2,272,100 2,295,893 Retained earnings 2,097,712 2,018,801 1,942,350 1,880,562 1,819,412 Accumulated other comprehensive loss (235,944) (224,540) (256,108) (194,862) (261,799)Total stockholders' equity 4,085,316 4,042,555 3,961,025 3,959,789 3,855,503 Total liabilities and stockholders' equity $22,907,022 $22,992,203 $22,490,748 $22,823,117 $22,919,905 Home BancShares, Inc. Consolidated Statements of Income (Unaudited) Quarter Ended Six Months Ended(In thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024 Interest income: Loans $276,041 $270,784 $278,409 $281,977 $274,324 $546,825 $539,618 Investment securities Taxable 26,444 27,433 28,943 31,006 32,587 53,877 65,816 Tax-exempt 7,626 7,650 7,704 7,704 7,769 15,276 15,572 Deposits - other banks 8,951 6,620 7,585 12,096 12,564 15,571 23,092 Federal funds sold 53 55 73 62 59 108 120 Total interest income 319,115 312,542 322,714 332,845 327,303 631,657 644,218 Interest expense: Interest on deposits 88,489 86,786 90,564 97,785 95,741 175,275 188,289 Federal funds purchased — — — 1 — — — FHLB and other borrowed funds 5,539 5,902 9,541 14,383 14,255 11,441 28,531 Securities sold under agreements to repurchase 1,012 1,074 1,346 1,335 1,363 2,086 2,767 Subordinated debentures 4,123 4,124 4,121 4,121 4,122 8,247 8,219 Total interest expense 99,163 97,886 105,572 117,625 115,481 197,049 227,806 Net interest income 219,952 214,656 217,142 215,220 211,822 434,608 416,412 Provision for credit losses on loans 3,000 — 16,700 18,200 8,000 3,000 13,500 Provision for (recovery of) credit losses on unfunded commitments — — — 1,000 — — (1,000)Recovery of credit losses on investment securities — — — (330) — — — Total credit loss expense 3,000 — 16,700 18,870 8,000 3,000 12,500 Net interest income after credit loss expense 216,952 214,656 200,442 196,350 203,822 431,608 403,912 Non-interest income: Service charges on deposit accounts 9,552 9,650 9,935 9,888 9,714 19,202 19,400 Other service charges and fees 12,643 10,689 11,651 10,490 10,679 23,332 20,868 Trust fees 5,234 4,760 4,526 4,403 4,722 9,994 9,788 Mortgage lending income 4,780 3,599 3,518 4,437 4,276 8,379 7,834 Insurance commissions 589 535 483 595 565 1,124 1,073 Increase in cash value of life insurance 1,415 1,842 1,215 1,161 1,279 3,257 2,474 Dividends from FHLB, FRB, FNBB & other 2,657 2,718 2,820 2,637 2,998 5,375 6,005 Gain on SBA loans — 288 218 145 56 288 254 Gain (loss) on branches, equipment and other assets, net 972 (163) 26 32 2,052 809 2,044 Gain (loss) on OREO, net 13 (376) (2,423) 85 49 (363) 66 Fair value adjustment for marketable securities (238) 442 850 1,392 (274) 204 729 Other income 13,462 11,442 8,403 7,514 6,658 24,904 14,038 Total non-interest income 51,079 45,426 41,222 42,779 42,774 96,505 84,573 Non-interest expense: Salaries and employee benefits 64,318 61,855 60,824 58,861 60,427 126,173 121,337 Occupancy and equipment 14,023 14,425 14,526 14,546 14,408 28,448 28,959 Data processing expense 8,364 8,558 9,324 9,088 8,935 16,922 18,082 Other operating expenses 29,335 28,090 27,536 27,550 29,415 57,425 56,303 Total non-interest expense 116,040 112,928 112,210 110,045 113,185 228,968 224,681 Income before income taxes 151,991 147,154 129,454 129,084 133,411 299,145 263,804 Income tax expense 33,588 31,945 28,890 29,046 31,881 65,533 62,165 Net income $118,403 $115,209 $100,564 $100,038 $101,530 $233,612 $201,639 Home BancShares, Inc.Selected Financial Information(Unaudited) Quarter Ended Six Months Ended(Dollars and shares in thousands, except per share data) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024PER SHARE DATA Diluted earnings per common share $0.60 $0.58 $0.51 $0.50 $0.51 $1.18 $1.00 Diluted earnings per common share, as adjusted (non-GAAP)(1) 0.58 0.56 0.50 0.50 0.52 1.14 1.01 Basic earnings per common share 0.60 0.58 0.51 0.50 0.51 1.18 1.00 Dividends per share - common 0.20 0.195 0.195 0.195 0.18 0.395 0.36 Shareholder buyback yield(2) 0.49% 0.53% 0.05% 0.56% 0.67% 1.02% 1.12%Book value per common share $20.71 $20.40 $19.92 $19.91 $19.30 $20.71 $19.30 Tangible book value per common share (non-GAAP)(1) 13.44 13.15 12.68 12.67 12.08 13.44 12.08 STOCK INFORMATION Average common shares outstanding 197,532 198,657 198,863 199,380 200,319 198,091 200,765 Average diluted shares outstanding 197,765 198,852 198,973 199,461 200,465 198,289 200,909 End of period common shares outstanding 197,239 198,206 198,882 198,879 199,746 197,239 199,746 ANNUALIZED PERFORMANCE METRICS Return on average assets (ROA) 2.08% 2.07% 1.77% 1.74% 1.79% 2.08% 1.78%Return on average assets, as adjusted: (ROA, as adjusted) (non-GAAP)(1) 2.02% 2.01% 1.76% 1.72% 1.83% 2.02% 1.79%Return on average assets excluding intangible amortization (non-GAAP)(1) 2.25% 2.24% 1.92% 1.88% 1.94% 2.25% 1.93%Return on average assets, as adjusted, excluding intangible amortization (non-GAAP)(1) 2.18% 2.18% 1.91% 1.86% 1.98% 2.18% 1.94%Return on average common equity (ROE) 11.77% 11.75% 10.13% 10.23% 10.73% 11.76% 10.69%Return on average common equity, as adjusted: (ROE, as adjusted) (non-GAAP)(1) 11.39% 11.41% 10.05% 10.12% 10.98% 11.40% 10.76%Return on average tangible common equity (ROTCE) (non-GAAP)(1) 18.26% 18.39% 15.94% 16.26% 17.29% 18.33% 17.26%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) (non-GAAP)(1) 17.68% 17.87% 15.82% 16.09% 17.69% 17.77% 17.38%Return on average tangible common equity excluding intangible amortization (non-GAAP)(1) 18.50% 18.64% 16.18% 16.51% 17.56% 18.57% 17.53%Return on average tangible common equity, as adjusted, excluding intangible amortization (non-GAAP)(1) 17.92% 18.12% 16.07% 16.34% 17.97% 18.02% 17.66% (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. Home BancShares, Inc.Selected Financial Information (Unaudited) Quarter Ended Six Months Ended(Dollars in thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024Efficiency ratio 41.68% 42.22% 42.24% 41.42% 43.17% 41.94% 43.69%Efficiency ratio, as adjusted (non-GAAP)(1) 42.01% 42.84% 42.00% 41.66% 42.59% 42.42% 43.50%Net interest margin - FTE (NIM) 4.44% 4.44% 4.39% 4.28% 4.27% 4.44% 4.20%Fully taxable equivalent adjustment $2,526 $2,534 $2,398 $2,616 $2,628 $5,060 $3,520 Total revenue (net) 271,031 260,082 258,364 257,999 254,596 531,113 500,985 Pre-tax, pre-provision, net income (PPNR) (non-GAAP)(1) 154,991 147,154 146,154 147,954 141,411 302,145 276,304 PPNR, as adjusted (non-GAAP)(1) 150,404 142,821 145,209 146,562 141,886 293,225 275,614 Pre-tax net income to total revenue (net) 56.08% 56.58% 50.11% 50.03% 52.40% 56.32% 52.66%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1) 54.39% 54.91% 49.74% 49.49% 52.59% 54.64% 52.52%P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1) 57.19% 56.58% 56.57% 57.35% 55.54% 56.89% 55.15%P5NR, as adjusted (non-GAAP)(1) 55.49% 54.91% 56.20% 56.81% 55.73% 55.21% 55.01%Total purchase accounting accretion $1,233 $1,378 $1,610 $1,878 $1,873 $2,611 $4,645 Average purchase accounting loan discounts 16,219 17,493 19,090 20,832 22,788 16,873 23,813 OTHER OPERATING EXPENSES Advertising $2,054 $1,928 $1,941 $1,810 $1,692 $3,982 $3,346 Amortization of intangibles 2,025 2,047 2,068 2,095 2,140 4,072 4,280 Electronic banking expense 3,172 3,055 3,307 3,569 3,412 6,227 6,568 Directors' fees 431 452 356 362 423 883 921 Due from bank service charges 283 281 271 302 282 564 558 FDIC and state assessment 1,636 3,387 3,216 3,360 5,494 5,023 8,812 Insurance 1,049 999 900 926 905 2,048 1,808 Legal and accounting 2,360 3,641 2,361 1,902 2,617 6,001 4,698 Other professional fees 2,211 1,947 1,736 2,062 2,108 4,158 4,344 Operating supplies 711 711 711 673 613 1,422 1,296 Postage 488 503 518 522 497 991 1,020 Telephone 419 436 438 455 444 855 914 Other expense 12,496 8,703 9,713 9,512 8,788 21,199 17,738 Total other operating expenses $29,335 $28,090 $27,536 $27,550 $29,415 $57,425 $56,303 (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. Home BancShares, Inc.Selected Financial Information(Unaudited) (Dollars in thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024BALANCE SHEET RATIOS Total loans to total deposits 86.80% 85.24% 86.11% 88.74% 87.18%Common equity to assets 17.83% 17.58% 17.61% 17.35% 16.82%Tangible common equity to tangible assets (non-GAAP)(1) 12.35% 12.09% 11.98% 11.78% 11.23% . LOANS RECEIVABLE Real estate Commercial real estate loans Non-farm/non-residential $5,553,182 $5,588,681 $5,426,780 $5,496,536 $5,599,925 Construction/land development 2,695,561 2,735,760 2,736,214 2,741,419 2,511,817 Agricultural 315,926 335,437 336,993 335,965 345,461 Residential real estate loans Residential 1-4 family 2,138,990 1,947,872 1,956,489 1,932,352 1,910,143 Multifamily residential 620,439 576,089 496,484 482,648 509,091 Total real estate 11,324,098 11,183,839 10,952,960 10,988,920 10,876,437 Consumer 1,218,834 1,227,745 1,234,361 1,219,197 1,189,386 Commercial and industrial 2,107,326 2,045,036 2,022,775 2,084,667 2,242,072 Agricultural 323,457 314,323 367,251 352,963 314,600 Other 206,909 181,173 187,153 178,232 158,962 Loans receivable $15,180,624 $14,952,116 $14,764,500 $14,823,979 $14,781,457 ALLOWANCE FOR CREDIT LOSSES Balance, beginning of period $279,944 $275,880 $312,574 $295,856 $290,294 Loans charged off 4,071 3,458 53,959 2,001 3,098 Recoveries of loans previously charged off 2,996 7,522 565 519 660 Net loans charged off (recovered) 1,075 (4,064) 53,394 1,482 2,438 Provision for credit losses - loans 3,000 — 16,700 18,200 8,000 Balance, end of period $281,869 $279,944 $275,880 $312,574 $295,856 Net charge-offs (recoveries) to average total loans 0.03% (0.11)% 1.44% 0.04% 0.07%Allowance for credit losses to total loans 1.86% 1.87% 1.87% 2.11% 2.00% NON-PERFORMING ASSETS Non-performing loans Non-accrual loans $89,261 $86,383 $93,853 $95,747 $78,090 Loans past due 90 days or more 7,031 3,264 5,034 5,356 8,251 Total non-performing loans 96,292 89,647 98,887 101,103 86,341 Other non-performing assets Foreclosed assets held for sale, net 41,529 39,680 43,407 43,040 41,347 Other non-performing assets — 63 63 63 63 Total other non-performing assets 41,529 39,743 43,470 43,103 41,410 Total non-performing assets $137,821 $129,390 $142,357 $144,206 $127,751 Allowance for credit losses for loans to non-performing loans 292.72% 312.27% 278.99% 309.16% 342.66%Non-performing loans to total loans 0.63% 0.60% 0.67% 0.68% 0.58%Non-performing assets to total assets 0.60% 0.56% 0.63% 0.63% 0.56% (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. Home BancShares, Inc.Consolidated Net Interest Margin(Unaudited) Three Months Ended June 30, 2025 March 31, 2025(Dollars in thousands) Average Balance Income/ Expense Yield/ Rate Average Balance Income/ Expense Yield/ RateASSETS Earning assets Interest-bearing balances due from banks $813,833 $8,951 4.41% $611,962 $6,620 4.39%Federal funds sold 4,878 53 4.36% 5,091 55 4.38%Investment securities - taxable 3,095,764 26,444 3.43% 3,179,290 27,433 3.50%Investment securities - non-taxable - FTE 1,113,044 10,033 3.62% 1,135,783 10,061 3.59%Loans receivable - FTE 15,055,414 276,160 7.36% 14,893,912 270,907 7.38%Total interest-earning assets 20,082,933 321,641 6.42% 19,826,038 315,076 6.45%Non-earning assets 2,714,805 2,722,797 Total assets $22,797,738 $22,548,835 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $11,541,641 $71,042 2.47% $11,402,688 $69,672 2.48%Time deposits 1,886,147 17,447 3.71% 1,801,503 17,114 3.85%Total interest-bearing deposits 13,427,788 88,489 2.64% 13,204,191 86,786 2.67%Federal funds purchased 46 — —% — — —%Securities sold under agreement to repurchase 143,752 1,012 2.82% 155,861 1,074 2.79%FHLB and other borrowed funds 566,984 5,539 3.92% 600,681 5,902 3.98%Subordinated debentures 439,027 4,123 3.77% 439,173 4,124 3.81%Total interest-bearing liabilities 14,577,597 99,163 2.73% 14,399,906 97,886 2.76%Non-interest bearing liabilities Non-interest bearing deposits 3,981,901 3,980,944 Other liabilities 202,085 190,314 Total liabilities 18,761,583 18,571,164 Shareholders' equity 4,036,155 3,977,671 Total liabilities and shareholders' equity $22,797,738 $22,548,835 Net interest spread 3.69% 3.69%Net interest income and margin - FTE $222,478 4.44% $217,190 4.44% Home BancShares, Inc.Consolidated Net Interest Margin(Unaudited) Six Months Ended June 30, 2025 June 30, 2024(Dollars in thousands) Average Balance Income/ Expense Yield/ Rate Average Balance Income/ Expense Yield/ RateASSETS Earning assets Interest-bearing balances due from banks $713,455 $15,571 4.40% $865,686 $23,092 5.36%Federal funds sold 4,984 108 4.37% 4,718 120 5.11%Investment securities - taxable 3,137,296 53,877 3.46% 3,459,639 65,816 3.83%Investment securities - non-taxable - FTE 1,124,351 20,094 3.60% 1,221,431 18,896 3.11%Loans receivable - FTE 14,975,109 547,067 7.37% 14,568,029 539,814 7.45%Total interest-earning assets 19,955,195 636,717 6.43% 20,119,503 647,738 6.47%Non-earning assets 2,718,779 2,660,101 Total assets $22,673,974 $22,779,604 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $11,472,548 $140,713 2.47% $11,078,749 $153,525 2.79%Time deposits 1,844,059 34,562 3.78% 1,708,902 34,764 4.09%Total interest-bearing deposits 13,316,607 175,275 2.65% 12,787,651 188,289 2.96%Federal funds purchased 23 — —% 17 — —%Securities sold under agreement to repurchase 149,773 2,086 2.81% 165,962 2,767 3.35%FHLB and other borrowed funds 583,739 11,441 3.95% 1,301,071 28,531 4.41%Subordinated debentures 439,100 8,247 3.79% 439,686 8,219 3.76%Total interest-bearing liabilities 14,489,242 197,049 2.74% 14,694,387 227,806 3.12%Non-interest bearing liabilities Non-interest bearing deposits 3,981,425 4,050,787 Other liabilities 196,232 239,704 Total liabilities 18,666,899 18,984,878 Shareholders' equity 4,007,075 3,794,726 Total liabilities and shareholders' equity $22,673,974 $22,779,604 Net interest spread 3.69% 3.35%Net interest income and margin - FTE $439,668 4.44% $419,932 4.20% Home BancShares, Inc.Non-GAAP Reconciliations(Unaudited) Quarter Ended Six Months Ended(Dollars and shares in thousands, except per share data) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024EARNINGS, AS ADJUSTED GAAP net income available to common shareholders (A) $118,403 $115,209 $100,564 $100,038 $101,530 $233,612 $201,639 Pre-tax adjustments FDIC special assessment (1,516) — — — 2,260 (1,516) 2,260 BOLI death benefits (1,243) — (95) — — (1,243) (162)Gain on sale of premises and equipment (983) — — — (2,059) (983) (2,059)Fair value adjustment for marketable securities 238 (442) (850) (1,392) 274 (204) (729)Special income from equity investment (3,498) (3,891) — — — (7,389) — Legal fee reimbursement (885) — — — — (885) — Legal claims expense 3,300 — — — — 3,300 — Total pre-tax adjustments (4,587) (4,333) (945) (1,392) 475 (8,920) (690)Tax-effect of adjustments (817) (1,059) (208) (348) 119 (1,876) (132)Deferred tax asset write-down — — — — 2,030 — 2,030 Total adjustments after-tax (B) (3,770) (3,274) (737) (1,044) 2,386 (7,044) 1,472 Earnings, as adjusted (C) $114,633 $111,935 $99,827 $98,994 $103,916 $226,568 $203,111 Average diluted shares outstanding (D) 197,765 198,852 198,973 199,461 200,465 198,289 200,909 GAAP diluted earnings per share: (A/D) $0.60 $0.58 $0.51 $0.50 $0.51 $1.18 $1.00 Adjustments after-tax: (B/D) (0.02) (0.02) (0.01) 0.00 0.01 (0.04) 0.01 Diluted earnings per common share, as adjusted: (C/D) $0.58 $0.56 $0.50 $0.50 $0.52 $1.14 $1.01 ANNUALIZED RETURN ON AVERAGE ASSETS Return on average assets: (A/E) 2.08% 2.07% 1.77% 1.74% 1.79% 2.08% 1.78%Return on average assets, as adjusted: (ROA, as adjusted) ((A+D)/E) 2.02% 2.01% 1.76% 1.72% 1.83% 2.02% 1.79%Return on average assets excluding intangible amortization: ((A+C)/(E-F)) 2.25% 2.24% 1.92% 1.88% 1.94% 2.25% 1.93%Return on average assets, as adjusted, excluding intangible amortization: ((A+C+D)/(E-F)) 2.18% 2.18% 1.91% 1.86% 1.98% 2.18% 1.94% GAAP net income available to common shareholders (A) $118,403 $115,209 $100,564 $100,038 $101,530 $233,612 $201,639 Amortization of intangibles (B) 2,025 2,047 2,068 2,095 2,140 4,072 4,280 Amortization of intangibles after-tax (C) 1,530 1,547 1,563 1,572 1,605 3,077 3,210 Adjustments after-tax (D) (3,770) (3,274) (737) (1,044) 2,386 (7,044) 1,472 Average assets (E) 22,797,738 22,548,835 22,565,077 22,893,784 22,875,949 22,673,974 22,779,604 Average goodwill & core deposit intangible (F) 1,435,480 1,437,515 1,439,566 1,441,654 1,443,778 1,436,492 1,444,840 Home BancShares, Inc. Non-GAAP Reconciliations (Unaudited) Quarter Ended Six Months Ended(Dollars in thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024ANNUALIZED RETURN ON AVERAGE COMMON EQUITY Return on average common equity: (A/D) 11.77% 11.75% 10.13% 10.23% 10.73% 11.76% 10.69%Return on average common equity, as adjusted: (ROE, as adjusted) ((A+C)/D) 11.39% 11.41% 10.05% 10.12% 10.98% 11.40% 10.76%Return on average tangible common equity: (ROTCE) (A/(D-E)) 18.26% 18.39% 15.94% 16.26% 17.29% 18.33% 17.26%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) ((A+C)/(D-E)) 17.68% 17.87% 15.82% 16.09% 17.69% 17.77% 17.38%Return on average tangible common equity excluding intangible amortization: (B/(D-E)) 18.50% 18.64% 16.18% 16.51% 17.56% 18.57% 17.53%Return on average tangible common equity, as adjusted, excluding intangible amortization: ((B+C)/(D-E)) 17.92% 18.12% 16.07% 16.34% 17.97% 18.02% 17.66% GAAP net income available to common shareholders (A) $118,403 $115,209 $100,564 $100,038 $101,530 $233,612 $201,639 Earnings excluding intangible amortization (B) 119,933 116,756 102,127 101,610 103,135 236,689 204,849 Adjustments after-tax (C) (3,770) (3,274) (737) (1,044) 2,386 (7,044) 1,472 Average common equity (D) 4,036,155 3,977,671 3,950,176 3,889,712 3,805,800 4,007,075 3,794,726 Average goodwill & core deposits intangible (E) 1,435,480 1,437,515 1,439,566 1,441,654 1,443,778 1,436,492 1,444,840 EFFICIENCY RATIO & P5NR Efficiency ratio: ((D-G)/(B+C+E)) 41.68% 42.22% 42.24% 41.42% 43.17% 41.94% 43.69%Efficiency ratio, as adjusted: ((D-G-I)/(B+C+E-H)) 42.01% 42.84% 42.00% 41.66% 42.59% 42.42% 43.50%Pre-tax net income to total revenue (net) (A/(B+C)) 56.08% 56.58% 50.11% 50.03% 52.40% 56.32% 52.66%Pre-tax net income, as adjusted, to total revenue (net) ((A+F)/(B+C)) 54.39% 54.91% 49.74% 49.49% 52.59% 54.64% 52.52%Pre-tax, pre-provision, net income (PPNR) (B+C-D) $154,991 $147,154 $146,154 $147,954 $141,411 $302,145 $276,304 Pre-tax, pre-provision, net income, as adjusted (B+C-D+F) $150,404 $142,821 $145,209 $146,562 $141,886 $293,225 $275,614 P5NR (Pre-tax, pre-provision, profit percentage) PPNR to total revenue (net)) (B+C-D)/(B+C) 57.19% 56.58% 56.57% 57.35% 55.54% 56.89% 55.15%P5NR, as adjusted (B+C-D+F)/(B+C) 55.49% 54.91% 56.20% 56.81% 55.73% 55.21% 55.01% Pre-tax net income (A) $151,991 $147,154 $129,454 $129,084 $133,411 $299,145 $263,804 Net interest income (B) 219,952 214,656 217,142 215,220 211,822 434,608 416,412 Non-interest income (C) 51,079 45,426 41,222 42,779 42,774 96,505 84,573 Non-interest expense (D) 116,040 112,928 112,210 110,045 113,185 228,968 224,681 Fully taxable equivalent adjustment (E) 2,526 2,534 2,398 2,616 2,628 5,060 3,520 Total pre-tax adjustments (F) (4,587) (4,333) (945) (1,392) 475 (8,920) (690)Amortization of intangibles (G) 2,025 2,047 2,068 2,095 2,140 4,072 4,280 Adjustments: Non-interest income: Fair value adjustment for marketable securities $(238) $442 $850 $1,392 $(274) $204 $729 Gain (loss) on OREO 13 (376) (2,423) 85 49 (363) 66 Gain (loss) on branches, equipment and other assets, net 972 (163) 26 32 2,052 809 2,044 Special income from equity investment 3,498 3,891 — — — 7,389 — BOLI death benefits 1,243 — 95 — — 1,243 162 Legal expense reimbursement 885 — — — — 885 — Total non-interest income adjustments (H) $6,373 $3,794 $(1,452) $1,509 $1,827 $10,167 $3,001 Non-interest expense: FDIC special assessment (1,516) — — — 2,260 (1,516) 2,260 Legal claims expense 3,300 — — — — 3,300 — Total non-interest expense adjustments (I) $1,784 $— $— $— $2,260 $1,784 $2,260 Home BancShares, Inc. Non-GAAP Reconciliations (Unaudited) Quarter Ended Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024TANGIBLE BOOK VALUE PER COMMON SHARE Book value per common share: (A/B) $20.71 $20.40 $19.92 $19.91 $19.30 Tangible book value per common share: ((A-C-D)/B) 13.44 13.15 12.68 12.67 12.08 Total stockholders' equity (A) $4,085,316 $4,042,555 $3,961,025 $3,959,789 $3,855,503 End of period common shares outstanding (B) 197,239 198,206 198,882 198,879 199,746 Goodwill (C) 1,398,253 1,398,253 1,398,253 1,398,253 1,398,253 Core deposit and other intangibles (D) 36,255 38,280 40,327 42,395 44,490 TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS Equity to assets: (B/A) 17.83% 17.58% 17.61% 17.35% 16.82%Tangible common equity to tangible assets: ((B-C-D)/(A-C-D)) 12.35% 12.09% 11.98% 11.78% 11.23% Total assets (A) $22,907,022 $22,992,203 $22,490,748 $22,823,117 $22,919,905 Total stockholders' equity (B) 4,085,316 4,042,555 3,961,025 3,959,789 3,855,503 Goodwill (C) 1,398,253 1,398,253 1,398,253 1,398,253 1,398,253 Core deposit and other intangibles (D) 36,255 38,280 40,327 42,395 44,490 Home BancShares, Inc.Shareholder Buyback Yield(Unaudited) Quarter Ended Six Months Ended(Dollars and shares in thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024SHAREHOLDER BUYBACK YIELD Shareholder buyback yield: (A/B) 0.49% 0.53% 0.05% 0.56% 0.67% 1.02% 1.12% Shares repurchased 1,000 1,000 96 1,000 1,400 2,000 2,426 Average price per share $26.99 $29.67 $26.38 $26.90 $23.26 $28.33 $23.31 Principal cost 26,989 29,668 2,526 26,902 32,562 56,657 56,549 Excise tax 459 117 (72) 63 285 576 421 Total share repurchase cost (A) $27,448 $29,785 $2,454 $26,965 $32,847 $57,233 $56,970 Shares outstanding beginning of period 198,206 198,882 198,879 199,746 200,797 198,882 201,526 Price per share beginning of period $28.27 $28.30 $27.09 $23.96 $24.57 $28.30 $25.33 Market capitalization beginning of period (B) $5,603,284 $5,628,361 $5,387,632 $4,785,914 $4,933,582 $5,628,361 $5,104,654

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