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Record First Quarter Highlights the Stability of HOMB; Strength Is No Accident

1. HOMB reported a record Q1 2025 net income of $115.2 million. 2. The diluted earnings per share increased to $0.58, surpassing prior performance. 3. Total loans grew to a record $14.95 billion, improving financial strength. 4. Non-performing assets decreased to 0.56% of total assets, reflecting improved asset quality. 5. The efficiency ratio improved to 42.22%, indicating effective cost management.

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FAQ

Why Very Bullish?

HOMB's robust earnings growth and asset quality improvement are likely to boost investor confidence. Historically, strong quarterly performances lead to increased stock prices, as seen in previous earnings reports.

How important is it?

The significant increase in earnings and reduced non-performing loans directly impact HOMB's financial outlook and attractiveness to investors.

Why Short Term?

Immediate market reactions are expected following the earnings release, likely affecting share prices quickly. Similar past results have resulted in price spikes within days.

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CONWAY, Ark., April 16, 2025 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB) (“Home” or the “Company”), parent company of Centennial Bank, released quarterly earnings today. Quarterly HighlightsMetricQ1 2025Q4 2024Q3 2024Q2 2024Q1 2024Net income$115.2 million$100.6 million$100.0 million$101.5 million$100.1 millionNet income, as adjusted (non-GAAP)(1)$111.9 million$99.8 million$99.0 million$103.9 million$99.2 millionTotal revenue (net)$260.1 million$258.4 million$258.0 million$254.6 million$246.4 millionIncome before income taxes$147.2 million$129.5 million$129.1 million$133.4 million$130.4 millionPre-tax, pre-provision, net income (PPNR) (non-GAAP)(1)$147.2 million$146.2 million$148.0 million$141.4 million$134.9 millionPPNR, as adjusted (non-GAAP)(1)$142.8 million$145.2 million$146.6 million$141.9 million$133.7 millionPre-tax net income to total revenue (net)56.58%50.11%50.03%52.40%52.92%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1)54.91%49.74%49.49%52.59%52.45%P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)56.58%56.57%57.35%55.54%54.75%P5NR, as adjusted (non-GAAP)(1)54.91%56.20%56.81%55.73%54.28%ROA2.07%1.77%1.74%1.79%1.78%ROA, as adjusted (non-GAAP)(1)2.01%1.76%1.72%1.83%1.76%NIM4.44%4.39%4.28%4.27%4.13%Purchase accounting accretion$1.4 million$1.6 million$1.9 million$1.9 million$2.8 millionROE11.75%10.13%10.23%10.73%10.64%ROE, as adjusted (non-GAAP)(1)11.41%10.05%10.12%10.98%10.54%ROTCE (non-GAAP)(1)18.39%15.94%16.26%17.29%17.22%ROTCE, as adjusted (non-GAAP)(1)17.87%15.82%16.09%17.69%17.07%Diluted earnings per share$0.58$0.51$0.50$0.51$0.50Diluted earnings per share, as adjusted (non-GAAP)(1)$0.56$0.50$0.50$0.52$0.49Non-performing assets to total assets0.56%0.63%0.63%0.56%0.48%Common equity tier 1 capital15.4%15.1%14.7%14.4%14.3%Leverage13.3%13.0%12.5%12.3%12.3%Tier 1 capital15.4%15.1%14.7%14.4%14.3%Total risk-based capital19.1%18.7%18.3%18.0%17.9%Allowance for credit losses to total loans1.87%1.87%2.11%2.00%2.00%Book value per share$20.40$19.92$19.91$19.30$18.98Tangible book value per share (non-GAAP)(1)13.1512.6812.6712.0811.79 (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. “This industry boils down to revenue and expenses. The magic is, doing the simple things repeatedly and long enough, creating a compounding effect of success. A record setting first quarter has paved the way for a strong year,” said John Allison, Chairman and CEO of HOMB. Operating Highlights Net income for the three-month period ended March 31, 2025 was $115.2 million, or $0.58 diluted earnings per share. Diluted earnings per share of $0.58 was a record for the Company. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $111.9 million(1) and $0.56 per share(1), respectively, for the three months ended March 31, 2025. Our net interest margin was 4.44% for the three-month period ended March 31, 2025, compared to 4.39% for the three-month period ended December 31, 2024. The yield on loans was 7.38% and 7.49% for the three months ended March 31, 2025 and December 31, 2024, respectively, as average loans increased from $14.80 billion to $14.89 billion. Additionally, the rate on interest bearing deposits decreased to 2.67% as of March 31, 2025, from 2.80% as of December 31, 2024, while average interest-bearing deposits increased from $12.86 billion to $13.20 billion. During the first quarter of 2025, there was $1.3 million of event interest income compared to $1.5 million of event interest income for the fourth quarter of 2024. Purchase accounting accretion on acquired loans was $1.4 million and $1.6 million for the three-month periods ended March 31, 2025 and December 31, 2024, respectively, and average purchase accounting loan discounts were $17.5 million and $19.1 million for the three-month periods ended March 31, 2025 and December 31, 2024, respectively. Net interest income on a fully taxable equivalent basis was $217.2 million for the three-month period ended March 31, 2025, and $219.5 million for the three-month period ended December 31, 2024. This decrease in net interest income for the three-month period ended March 31, 2025, was the result of a $10.0 million decrease in interest income, partially offset by a $7.7 million decrease in interest expense. The $7.7 million decrease in interest expense was due to a $3.8 million decrease in interest expense on deposits and a $3.6 million decrease in FHLB and other borrowed funds resulting from the payoff of the BTFP advance during the fourth quarter of 2024 and the declining interest rate environment. The $10.0 million decrease in interest income was primarily the result of a $7.6 million decrease in loan income, a $1.4 million decrease in investment income and a $965,000 decrease in income from deposits with other banks resulting from the payoff of the BTFP advance and the declining interest rate environment. The overall decrease in interest income and interest expense is primarily due to the declining interest rate environment. The Company reported $45.4 million of non-interest income for the first quarter of 2025. The most important components of non-interest income were $11.4 million from other income, $10.7 million from other service charges and fees, $9.7 million from service charges on deposit accounts, $4.8 million from trust fees, $3.6 million in mortgage lending income, $2.7 million from dividends from FHLB, FRB, FNBB and other, $1.8 million from the increase in cash value of life insurance and $442,000 from the fair value adjustment for marketable securities. Included within other income was $3.9 million in special income from equity investments. Non-interest expense for the first quarter of 2025 was $112.9 million. The most important components of non-interest expense were $61.9 million from salaries and employee benefits, $28.1 million in other operating expense, $14.4 million in occupancy and equipment expenses and $8.6 million in data processing expenses. For the first quarter of 2025, our efficiency ratio was 42.22%, and our efficiency ratio, as adjusted (non-GAAP), was 42.84%(1). Financial Condition Total loans receivable were $14.95 billion at March 31, 2025, compared to $14.76 billion at December 31, 2024. Total loans receivable of $14.95 billion were a record for the Company. Total deposits were $17.54 billion at March 31, 2025, compared to $17.15 billion at December 31, 2024. Total assets were $22.99 billion at March 31, 2025, compared to $22.49 billion at December 31, 2024. During the first quarter of 2025, the Company had a $187.6 million increase in loans. Our community banking footprint experienced $291.5 million in organic loan growth during the quarter ended March 31, 2025, and Centennial CFG experienced $103.9 million of organic loan decline and had loans of $1.71 billion at March 31, 2025. Non-performing loans to total loans were 0.60% and 0.67% at March 31, 2025 and December 31, 2024, respectively. Non-performing assets to total assets were 0.56% and 0.63% at March 31, 2025 and December 31, 2024, respectively. Net loans recovered were $4.1 million for the three months ended March 31, 2025, and net loans charged-off were $53.4 million for the three months ended December 31, 2024. During the fourth quarter of 2024, the Company completed an asset quality cleanup project which resulted in the significant level of charge-offs. The charge-off detail by region for the quarters ended March 31, 2025 and December 31, 2024 can be seen below. For the Three Months Ended March 31, 2025(in thousands) Texas Arkansas CentennialCFG ShorePremierFinance 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) For the Three Months Ended December 31, 2024(in thousands) Texas Arkansas CentennialCFG ShorePremierFinance Florida Alabama TotalCharge-offs $47,774  $2,108  $1,973 $1,457  $637  $10  $53,959 Recoveries  (174)  (181)  —  (15)  (193)  (2)  (565)Net charge-offs $47,600  $1,927  $1,973 $1,442  $444  $8  $53,394   At March 31, 2025, non-performing loans were $89.6 million, and non-performing assets were $129.4 million. At December 31, 2024, non-performing loans were $98.9 million, and non-performing assets were $142.4 million. The table below shows the non-performing loans and non-performing assets by region as March 31, 2025: (in thousands) Texas Arkansas CentennialCFG ShorePremierFinance 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 table below shows the non-performing loans and non-performing assets by region as December 31, 2024: (in thousands) Texas Arkansas CentennialCFG ShorePremierFinance Florida Alabama TotalNon-accrual loans 23,494 18,448 7,390 5,537 38,778 206 93,853Loans 90+ days past due 4,134 538 — — 362 — 5,034Total non-performing loans 27,628 18,986 7,390 5,537 39,140 206 98,887               Foreclosed assets held for sale 13,924 757 22,775 — 5,951 — 43,407Other non-performing assets 63 — — — — — 63Total other non-performing assets 13,987 757 22,775 — 5,951 — 43,470Total non-performing assets 41,615 19,743 30,165 5,537 45,091 206 142,357  The Company’s allowance for credit losses on loans was $279.9 million at March 31, 2025, or 1.87% of total loans, compared to the allowance for credit losses on loans of $275.9 million, or 1.87% of total loans, at December 31, 2024. As of March 31, 2025 and December 31, 2024, the Company’s allowance for credit losses on loans was 312.27% and 278.99% of its total non-performing loans, respectively. The increase in the allowance for credit losses reflects the net recoveries during the quarter. Stockholders’ equity was $4.04 billion at March 31, 2025, which increased approximately $81.5 million from December 31, 2024. The net increase in stockholders’ equity is primarily associated with the $76.5 million increase in retained earnings and the $31.6 million decrease in accumulated other comprehensive loss, which was partially offset by the $29.7 million in stock repurchases for the quarter. Book value per common share was $20.40 at March 31, 2025, compared to $19.92 at December 31, 2024. Tangible book value per common share (non-GAAP) was $13.15(1) at March 31, 2025, compared to $12.68(1) at December 31, 2024. Book value per common share and tangible book value per common share, as of March 31, 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, April 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/447517977. 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=a44e9900&confId=79637. 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: 947933. A replay of the call will be available by calling 1-866-813-9403, Passcode: 685290, which will be available until April 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 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)  Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024ASSETS          Cash and due from banks $319,747  $281,063  $265,408  $229,209  $205,262 Interest-bearing deposits with other banks  975,983   629,284   752,269   829,507   969,996 Cash and cash equivalents  1,295,730   910,347   1,017,677   1,058,716   1,175,258 Federal funds sold  6,275   3,725   6,425   —   5,200 Investment securities - available-for-sale, net of allowance for credit losses  3,003,320   3,072,639   3,270,620   3,344,539   3,400,884 Investment securities - held-to-maturity, net of allowance for credit losses  1,269,896   1,275,204   1,277,090   1,278,853   1,280,586 Total investment securities  4,273,216   4,347,843   4,547,710   4,623,392   4,681,470 Loans receivable  14,952,116   14,764,500   14,823,979   14,781,457   14,513,673 Allowance for credit losses  (279,944)  (275,880)  (312,574)  (295,856)  (290,294)Loans receivable, net  14,672,172   14,488,620   14,511,405   14,485,601   14,223,379 Bank premises and equipment, net  384,843   386,322   388,776   383,691   389,618 Foreclosed assets held for sale  39,680   43,407   43,040   41,347   30,650 Cash value of life insurance  221,621   219,786   219,353   218,198   215,424 Accrued interest receivable  115,983   120,129   118,871   120,984   119,029 Deferred tax asset, net  170,120   186,697   176,629   195,041   202,882 Goodwill  1,398,253   1,398,253   1,398,253   1,398,253   1,398,253 Core deposit intangible  38,280   40,327   42,395   44,490   46,630 Other assets  376,030   345,292   352,583   350,192   347,928 Total assets $22,992,203  $22,490,748  $22,823,117  $22,919,905  $22,835,721            LIABILITIES AND STOCKHOLDERS' EQUITY            Liabilities          Deposits:          Demand and non-interest-bearing $4,079,289  $4,006,115  $3,937,168  $4,068,302  $4,115,603 Savings and interest-bearing transaction accounts  11,586,106   11,347,850   10,966,426   11,150,516   11,047,258 Time deposits  1,876,096   1,792,332   1,802,116   1,736,985   1,703,269 Total deposits  17,541,491   17,146,297   16,705,710   16,955,803   16,866,130 Securities sold under agreements to repurchase  161,401   162,350   179,416   137,996   176,107 FHLB and other borrowed funds  600,500   600,750   1,300,750   1,301,050   1,301,050 Accrued interest payable and other liabilities  207,154   181,080   238,058   230,011   241,345 Subordinated debentures  439,102   439,246   439,394   439,542   439,688 Total liabilities  18,949,648   18,529,723   18,863,328   19,064,402   19,024,320            Stockholders' equity          Common stock  1,982   1,989   1,989   1,997   2,008 Capital surplus  2,246,312   2,272,794   2,272,100   2,295,893   2,326,824 Retained earnings  2,018,801   1,942,350   1,880,562   1,819,412   1,753,994 Accumulated other comprehensive loss  (224,540)  (256,108)  (194,862)  (261,799)  (271,425)Total stockholders' equity  4,042,555   3,961,025   3,959,789   3,855,503   3,811,401 Total liabilities and stockholders' equity $22,992,203  $22,490,748  $22,823,117  $22,919,905  $22,835,721              Home BancShares, Inc.  Consolidated Statements of Income  (Unaudited)                   Quarter Ended  Three Months Ended(In thousands) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024Interest income:              Loans $270,784  $278,409  $281,977  $274,324  $265,294  $270,784  $265,294 Investment securities              Taxable  27,433   28,943   31,006   32,587   33,229   27,433   33,229 Tax-exempt  7,650   7,704   7,704   7,769   7,803   7,650   7,803 Deposits - other banks  6,620   7,585   12,096   12,564   10,528   6,620   10,528 Federal funds sold  55   73   62   59   61   55   61 Total interest income  312,542   322,714   332,845   327,303   316,915   312,542   316,915 Interest expense:              Interest on deposits  86,786   90,564   97,785   95,741   92,548   86,786   92,548 Federal funds purchased  —   —   1   —   —   —   — FHLB and other borrowed funds  5,902   9,541   14,383   14,255   14,276   5,902   14,276 Securities sold under agreements to repurchase  1,074   1,346   1,335   1,363   1,404   1,074   1,404 Subordinated debentures  4,124   4,121   4,121   4,122   4,097   4,124   4,097 Total interest expense  97,886   105,572   117,625   115,481   112,325   97,886   112,325 Net interest income  214,656   217,142   215,220   211,822   204,590   214,656   204,590 Provision for credit losses on loans  —   16,700   18,200   8,000   5,500   —   5,500 Provision for (recovery of) credit losses on unfunded commitments  —   —   1,000   —   (1,000)  —   (1,000)(Recovery of) provision for credit losses on investment securities  —   —   (330)  —   —   —   — Total credit loss expense  —   16,700   18,870   8,000   4,500   —   4,500 Net interest income after credit loss expense  214,656   200,442   196,350   203,822   200,090   214,656   200,090 Non-interest income:              Service charges on deposit accounts  9,650   9,935   9,888   9,714   9,686   9,650   9,686 Other service charges and fees  10,689   11,651   10,490   10,679   10,189   10,689   10,189 Trust fees  4,760   4,526   4,403   4,722   5,066   4,760   5,066 Mortgage lending income  3,599   3,518   4,437   4,276   3,558   3,599   3,558 Insurance commissions  535   483   595   565   508   535   508 Increase in cash value of life insurance  1,842   1,215   1,161   1,279   1,195   1,842   1,195 Dividends from FHLB, FRB, FNBB & other  2,718   2,820   2,637   2,998   3,007   2,718   3,007 Gain on SBA loans  288   218   145   56   198   288   198 (Loss) gain on branches, equipment and other assets, net  (163)  26   32   2,052   (8)  (163)  (8)(Loss) gain on OREO, net  (376)  (2,423)  85   49   17   (376)  17 Fair value adjustment for marketable securities  442   850   1,392   (274)  1,003   442   1,003 Other income  11,442   8,403   7,514   6,658   7,380   11,442   7,380 Total non-interest income  45,426   41,222   42,779   42,774   41,799   45,426   41,799 Non-interest expense:              Salaries and employee benefits  61,855   60,824   58,861   60,427   60,910   61,855   60,910 Occupancy and equipment  14,425   14,526   14,546   14,408   14,551   14,425   14,551 Data processing expense  8,558   9,324   9,088   8,935   9,147   8,558   9,147 Other operating expenses  28,090   27,536   27,550   29,415   26,888   28,090   26,888 Total non-interest expense  112,928   112,210   110,045   113,185   111,496   112,928   111,496 Income before income taxes  147,154   129,454   129,084   133,411   130,393   147,154   130,393 Income tax expense  31,945   28,890   29,046   31,881   30,284   31,945   30,284 Net income $115,209  $100,564  $100,038  $101,530  $100,109  $115,209  $100,109                 Home BancShares, Inc.Selected Financial Information(Unaudited)                 Quarter Ended Three Months Ended(Dollars and shares in thousands, except per share data) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024PER SHARE DATA              Diluted earnings per common share $0.58  $0.51  $0.50  $0.51  $0.50  $0.58  $0.50 Diluted earnings per common share, as adjusted (non-GAAP)(1)   0.56   0.50   0.50   0.52   0.49   0.56   0.49 Basic earnings per common share  0.58   0.51   0.50   0.51   0.50   0.58   0.50 Dividends per share - common  0.195   0.195   0.195   0.18   0.18   0.195   0.18 Book value per common share  20.40   19.92   19.91   19.30   18.98   20.40   18.98 Tangible book value per common share (non-GAAP)(1)  13.15   12.68   12.67   12.08   11.79   13.15   11.79                STOCK INFORMATION              Average common shares outstanding  198,657   198,863   199,380   200,319   201,210   198,657   201,210 Average diluted shares outstanding  198,852   198,973   199,461   200,465   201,390   198,852   201,390 End of period common shares outstanding  198,206   198,882   198,879   199,746   200,797   198,206   200,797                ANNUALIZED PERFORMANCE METRICS              Return on average assets (ROA)  2.07%  1.77%  1.74%  1.79%  1.78%  2.07%  1.78%Return on average assets, as adjusted: (ROA, as adjusted) (non-GAAP)(1)  2.01%  1.76%  1.72%  1.83%  1.76%  2.01%  1.76%Return on average assets excluding intangible amortization (non-GAAP)(1)  2.24%  1.92%  1.88%  1.94%  1.93%  2.24%  1.93%Return on average assets, as adjusted, excluding intangible amortization (non-GAAP)(1)  2.18%  1.91%  1.86%  1.98%  1.91%  2.18%  1.91%Return on average common equity (ROE)  11.75%  10.13%  10.23%  10.73%  10.64%  11.75%  10.64%Return on average common equity, as adjusted: (ROE, as adjusted) (non-GAAP)(1)  11.41%  10.05%  10.12%  10.98%  10.54%  11.41%  10.54%Return on average tangible common equity (ROTCE) (non-GAAP)(1)  18.39%  15.94%  16.26%  17.29%  17.22%  18.39%  17.22%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) (non-GAAP)(1)  17.87%  15.82%  16.09%  17.69%  17.07%  17.87%  17.07%Return on average tangible common equity excluding intangible amortization (non-GAAP)(1)  18.64%  16.18%  16.51%  17.56%  17.50%  18.64%  17.50%Return on average tangible common equity, as adjusted, excluding intangible amortization (non-GAAP)(1)  18.12%  16.07%  16.34%  17.97%  17.34%  18.12%  17.34%               (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)                 Quarter Ended Three Months Ended(Dollars in thousands) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024               Efficiency ratio  42.22%  42.24%  41.42%  43.17%  44.22%  42.22%  44.22%Efficiency ratio, as adjusted (non-GAAP)(1)  42.84%  42.00%  41.66%  42.59%  44.43%  42.84%  44.43%Net interest margin - FTE (NIM)  4.44%  4.39%  4.28%  4.27%  4.13%  4.44%  4.13%Fully taxable equivalent adjustment $2,534  $2,398  $2,616  $2,628  $892  $2,534  $892 Total revenue (net)  260,082   258,364   257,999   254,596   246,389   260,082   246,389 Pre-tax, pre-provision, net income (PPNR) (non-GAAP)(1)  147,154   146,154   147,954   141,411   134,893   147,154   134,893 PPNR, as adjusted (non-GAAP)(1)  142,821   145,209   146,562   141,886   133,728   142,821   133,728 Pre-tax net income to total revenue (net)  56.58%  50.11%  50.03%  52.40%  52.92%  56.58%  52.92%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1)  54.91%  49.74%  49.49%  52.59%  52.45%  54.91%  52.45%P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)  56.58%  56.57%  57.35%  55.54%  54.75%  56.58%  54.75%P5NR, as adjusted (non-GAAP)(1)  54.91%  56.20%  56.81%  55.73%  54.28%  54.91%  54.28%Total purchase accounting accretion $1,378  $1,610  $1,878  $1,873  $2,772  $1,378  $2,772 Average purchase accounting loan discounts  17,493   19,090   20,832   22,788   24,820   17,493   24,820                OTHER OPERATING EXPENSES              Advertising $1,928  $1,941  $1,810  $1,692  $1,654  $1,928  $1,654 Amortization of intangibles  2,047   2,068   2,095   2,140   2,140   2,047   2,140 Electronic banking expense  3,055   3,307   3,569   3,412   3,156   3,055   3,156 Directors' fees  452   356   362   423   498   452   498 Due from bank service charges  281   271   302   282   276   281   276 FDIC and state assessment  3,387   3,216   3,360   5,494   3,318   3,387   3,318 Insurance  999   900   926   905   903   999   903 Legal and accounting  3,641   2,361   1,902   2,617   2,081   3,641   2,081 Other professional fees  1,947   1,736   2,062   2,108   2,236   1,947   2,236 Operating supplies  711   711   673   613   683   711   683 Postage  503   518   522   497   523   503   523 Telephone  436   438   455   444   470   436   470 Other expense  8,703   9,713   9,512   8,788   8,950   8,703   8,950 Total other operating expenses $28,090  $27,536  $27,550  $29,415  $26,888  $28,090  $26,888                (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) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024BALANCE SHEET RATIOS          Total loans to total deposits  85.24%  86.11%  88.74%  87.18%  86.05%Common equity to assets  17.58%  17.61%  17.35%  16.82%  16.69%Tangible common equity to tangible assets (non-GAAP)(1)  12.09%  11.98%  11.78%  11.23%  11.06%        .  LOANS RECEIVABLE          Real estate          Commercial real estate loans          Non-farm/non-residential $5,588,681  $5,426,780  $5,496,536  $5,599,925  $5,616,965 Construction/land development  2,735,760   2,736,214   2,741,419   2,511,817   2,330,555 Agricultural  335,437   336,993   335,965   345,461   337,618 Residential real estate loans          Residential 1-4 family  1,947,872   1,956,489   1,932,352   1,910,143   1,899,974 Multifamily residential  576,089   496,484   482,648   509,091   415,926 Total real estate  11,183,839   10,952,960   10,988,920   10,876,437   10,601,038 Consumer  1,227,745   1,234,361   1,219,197   1,189,386   1,163,228 Commercial and industrial  2,045,036   2,022,775   2,084,667   2,242,072   2,284,775 Agricultural  314,323   367,251   352,963   314,600   278,609 Other  181,173   187,153   178,232   158,962   186,023 Loans receivable $14,952,116  $14,764,500  $14,823,979  $14,781,457  $14,513,673            ALLOWANCE FOR CREDIT LOSSES          Balance, beginning of period $275,880  $312,574  $295,856  $290,294  $288,234 Loans charged off  3,458   53,959   2,001   3,098   3,978 Recoveries of loans previously charged off  7,522   565   519   660   538 Net loans (recovered) charged off  (4,064)  53,394   1,482   2,438   3,440 Provision for credit losses - loans  —   16,700   18,200   8,000   5,500 Balance, end of period $279,944  $275,880  $312,574  $295,856  $290,294            Net (recoveries) charge-offs to average total loans  (0.11)%  1.44%  0.04%  0.07%  0.10%Allowance for credit losses to total loans  1.87%  1.87%  2.11%  2.00%  2.00%           NON-PERFORMING ASSETS          Non-performing loans          Non-accrual loans $86,383  $93,853  $95,747  $78,090  $67,055 Loans past due 90 days or more  3,264   5,034   5,356   8,251   12,928 Total non-performing loans  89,647   98,887   101,103   86,341   79,983 Other non-performing assets          Foreclosed assets held for sale, net  39,680   43,407   43,040   41,347   30,650 Other non-performing assets  63   63   63   63   63 Total other non-performing assets  39,743   43,470   43,103   41,410   30,713 Total non-performing assets $129,390  $142,357  $144,206  $127,751  $110,696            Allowance for credit losses for loans to non-performing loans  312.27%  278.99%  309.16%  342.66%  362.94%Non-performing loans to total loans  0.60%  0.67%  0.68%  0.58%  0.55%Non-performing assets to total assets  0.56%  0.63%  0.63%  0.56%  0.48%           (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  March 31, 2025 December 31, 2024(Dollars in thousands) AverageBalance Income/Expense Yield/Rate AverageBalance Income/Expense Yield/RateASSETS            Earning assets            Interest-bearing balances due from banks $611,962 $6,620 4.39% $643,959 $7,585 4.69%Federal funds sold  5,091  55 4.38%  6,068  73 4.79%Investment securities - taxable  3,179,290  27,433 3.50%  3,291,472  28,943 3.50%Investment securities - non-taxable - FTE  1,135,783  10,061 3.59%  1,154,384  9,980 3.44%Loans receivable - FTE  14,893,912  270,907 7.38%  14,798,953  278,531 7.49%Total interest-earning assets  19,826,038  315,076 6.45%  19,894,836  325,112 6.50%Non-earning assets  2,722,797      2,670,241    Total assets $22,548,835     $22,565,077                 LIABILITIES AND SHAREHOLDERS' EQUITY             Liabilities            Interest-bearing liabilities            Savings and interest-bearing transaction accounts $11,402,688 $69,672 2.48% $11,058,959 $72,220 2.60%Time deposits  1,801,503  17,114 3.85%  1,800,618  18,344 4.05%Total interest-bearing deposits  13,204,191  86,786 2.67%  12,859,577  90,564 2.80%Securities sold under agreement to repurchase  155,861  1,074 2.79%  174,759  1,346 3.06%FHLB and other borrowed funds  600,681  5,902 3.98%  889,880  9,541 4.27%Subordinated debentures  439,173  4,124 3.81%  439,319  4,121 3.73%Total interest-bearing liabilities  14,399,906  97,886 2.76%  14,363,535  105,572 2.92%Non-interest bearing liabilities            Non-interest bearing deposits  3,980,944      4,024,433    Other liabilities  190,314      226,933    Total liabilities  18,571,164      18,614,901    Shareholders' equity  3,977,671      3,950,176    Total liabilities and shareholders' equity $22,548,835     $22,565,077    Net interest spread     3.69%     3.58%Net interest income and margin - FTE   $217,190 4.44%   $219,540 4.39%              Home BancShares, Inc.Consolidated Net Interest Margin(Unaudited)               Three Months Ended  March 31, 2025 March 31, 2024(Dollars in thousands) AverageBalance Income/Expense Yield/Rate AverageBalance Income/Expense Yield/RateASSETS            Earning assets            Interest-bearing balances due from banks $611,962 $6,620 4.39% $801,456 $10,528 5.28%Federal funds sold  5,091  55 4.38%  5,012  61 4.90%Investment securities - taxable  3,179,290  27,433 3.50%  3,473,511  33,229 3.85%Investment securities - non-taxable - FTE  1,135,783  10,061 3.59%  1,257,861  8,642 2.76%Loans receivable - FTE  14,893,912  270,907 7.38%  14,487,494  265,347 7.37%Total interest-earning assets  19,826,038  315,076 6.45%  20,025,334  317,807 6.38%Non-earning assets  2,722,797      2,657,925    Total assets $22,548,835     $22,683,259                 LIABILITIES AND SHAREHOLDERS' EQUITY             Liabilities            Interest-bearing liabilities            Savings and interest-bearing transaction accounts $11,402,688 $69,672 2.48% $11,038,910 $75,597 2.75%Time deposits  1,801,503  17,114 3.85%  1,685,193  16,951 4.05%Total interest-bearing deposits  13,204,191  86,786 2.67%  12,724,103  92,548 2.93%Securities sold under agreement to repurchase 155,861  1,074 2.79%  172,024  1,404 3.28%FHLB and other borrowed funds  600,681  5,902 3.98%  1,301,091  14,276 4.41%Subordinated debentures  439,173  4,124 3.81%  439,760  4,097 3.75%Total interest-bearing liabilities  14,399,906  97,886 2.76%  14,636,978  112,325 3.09%Non-interest bearing liabilities            Non-interest bearing deposits  3,980,944      4,017,659    Other liabilities  190,314      244,970    Total liabilities  18,571,164      18,899,607    Shareholders' equity  3,977,671      3,783,652    Total liabilities and shareholders' equity $22,548,835     $22,683,259    Net interest spread     3.69%     3.29%Net interest income and margin - FTE   $217,190 4.44%   $205,482 4.13%              Home BancShares, Inc.Non-GAAP Reconciliations(Unaudited)                 Quarter Ended Three Months Ended(Dollars and shares in thousands, except per share data) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024EARNINGS, AS ADJUSTED              GAAP net income available to common shareholders (A) $115,209  $100,564  $100,038  $101,530  $100,109  $115,209  $100,109 Pre-tax adjustments              FDIC special assessment  —   —   —   2,260   —   —   — BOLI death benefits  —   (95)  —   —   (162)  —   (162)Gain on sale of building  —   —   —   (2,059)  —   —   — Fair value adjustment for marketable securities  (442)  (850)  (1,392)  274   (1,003)  (442)  (1,003)Special income from equity investment  (3,891)  —   —   —   —   (3,891)  — Total pre-tax adjustments  (4,333)  (945)  (1,392)  475   (1,165)  (4,333)  (1,165)Tax-effect of adjustments  (1,059)  (208)  (348)  119   (251)  (1,059)  (251)Deferred tax asset write-down  —   —   —   2,030   —   —   — Total adjustments after-tax (B)  (3,274)  (737)  (1,044)  2,386   (914)  (3,274)  (914)Earnings, as adjusted (C) $111,935  $99,827  $98,994  $103,916  $99,195  $111,935  $99,195                Average diluted shares outstanding (D)  198,852   198,973   199,461   200,465   201,390   198,852   201,390                GAAP diluted earnings per share: (A/D) $0.58  $0.51  $0.50  $0.51  $0.50  $0.58  $0.50 Adjustments after-tax: (B/D)  (0.02)  (0.01)  0.00   0.01   (0.01)  (0.02)  (0.01)Diluted earnings per common share, as adjusted: (C/D) $0.56  $0.50  $0.50  $0.52  $0.49  $0.56  $0.49                ANNUALIZED RETURN ON AVERAGE ASSETS              Return on average assets: (A/E)  2.07%  1.77%  1.74%  1.79%  1.78%  2.07%  1.78%Return on average assets, as adjusted: (ROA, as adjusted) ((A+D)/E)  2.01%  1.76%  1.72%  1.83%  1.76%  2.01%  1.76%Return on average assets excluding intangible amortization: ((A+C)/(E-F))  2.24%  1.92%  1.88%  1.94%  1.93%  2.24%  1.93%Return on average assets, as adjusted, excluding intangible amortization: ((A+C+D)/(E-F))  2.18%  1.91%  1.86%  1.98%  1.91%  2.18%  1.91%               GAAP net income available to common shareholders (A) $115,209  $100,564  $100,038  $101,530  $100,109  $115,209  $100,109 Amortization of intangibles (B)  2,047   2,068   2,095   2,140   2,140   2,047   2,140 Amortization of intangibles after-tax (C)  1,547   1,563   1,572   1,605   1,605   1,547   1,605 Adjustments after-tax (D)  (3,274)  (737)  (1,044)  2,386   (914)  (3,274)  (914)Average assets (E)  22,548,835   22,565,077   22,893,784   22,875,949   22,683,259   22,548,835   22,683,259 Average goodwill & core deposit intangible (F)  1,437,515   1,439,566   1,441,654   1,443,778   1,445,902   1,437,515   1,445,902                  Home BancShares, Inc.  Non-GAAP Reconciliations  (Unaudited)                  Quarter Ended Three Months Ended(Dollars in thousands) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024ANNUALIZED RETURN ON AVERAGE COMMON EQUITY              Return on average common equity: (A/D)  11.75%  10.13%  10.23%  10.73%  10.64%  11.75%  10.64%Return on average common equity, as adjusted: (ROE, as adjusted) ((A+C)/D)  11.41%  10.05%  10.12%  10.98%  10.54%  11.41%  10.54%Return on average tangible common equity: (A/(D-E))  18.39%  15.94%  16.26%  17.29%  17.22%  18.39%  17.22%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) ((A+C)/(D-E))  17.87%  15.82%  16.09%  17.69%  17.07%  17.87%  17.07%Return on average tangible common equity excluding intangible amortization: (B/(D-E))  18.64%  16.18%  16.51%  17.56%  17.50%  18.64%  17.50%Return on average tangible common equity, as adjusted, excluding intangible amortization: ((B+C)/(D-E))  18.12%  16.07%  16.34%  17.97%  17.34%  18.12%  17.34%               GAAP net income available to common shareholders (A) $115,209  $100,564  $100,038  $101,530  $100,109  $115,209  $100,109 Earnings excluding intangible amortization (B)  116,756   102,127   101,610   103,135   101,714   116,756   101,714 Adjustments after-tax (C)  (3,274)  (737)  (1,044)  2,386   (914)  (3,274)  (914)Average common equity (D) 3,977,671  3,950,176  3,889,712  3,805,800  3,783,652  3,977,671  3,783,652 Average goodwill & core deposits intangible (E) 1,437,515  1,439,566  1,441,654  1,443,778  1,445,902  1,437,515  1,445,902                EFFICIENCY RATIO & P5NR              Efficiency ratio: ((D-G)/(B+C+E))  42.22%  42.24%  41.42%  43.17%  44.22%  42.22%  44.22%Efficiency ratio, as adjusted: ((D-G-I)/(B+C+E-H))  42.84%  42.00%  41.66%  42.59%  44.43%  42.84%  44.43%Pre-tax net income to total revenue (net) (A/(B+C))  56.58%  50.11%  50.03%  52.40%  52.92%  56.58%  52.92%Pre-tax net income, as adjusted, to total revenue (net) ((A+F)/(B+C))  54.91%  49.74%  49.49%  52.59%  52.45%  54.91%  52.45%Pre-tax, pre-provision, net income (PPNR) (B+C-D) $147,154  $146,154  $147,954  $141,411  $134,893  $147,154  $134,893 Pre-tax, pre-provision, net income, as adjusted (B+C-D+F) $142,821  $145,209  $146,562  $141,886  $133,728  $142,821  $133,728 P5NR (Pre-tax, pre-provision, profit percentage) PPNR to total revenue (net)) (B+C-D)/(B+C)  56.58%  56.57%  57.35%  55.54%  54.75%  56.58%  54.75%P5NR, as adjusted (B+C-D+F)/(B+C)  54.91%  56.20%  56.81%  55.73%  54.28%  54.91%  54.28%               Pre-tax net income (A) $147,154  $129,454  $129,084  $133,411  $130,393  $147,154  $130,393 Net interest income (B)  214,656   217,142   215,220   211,822   204,590   214,656   204,590 Non-interest income (C)  45,426   41,222   42,779   42,774   41,799   45,426   41,799 Non-interest expense (D)  112,928   112,210   110,045   113,185   111,496   112,928   111,496 Fully taxable equivalent adjustment (E)  2,534   2,398   2,616   2,628   892   2,534   892 Total pre-tax adjustments (F)  (4,333)  (945)  (1,392)  475   (1,165)  (4,333)  (1,165)Amortization of intangibles (G)  2,047   2,068   2,095   2,140   2,140   2,047   2,140                Adjustments:              Non-interest income:              Fair value adjustment for marketable securities $442  $850  $1,392  $(274) $1,003  $442  $1,003 (Loss) gain on OREO  (376)  (2,423)  85   49   17   (376)  17 (Loss) gain on branches, equipment and other assets, net  (163)  26   32   2,052   (8)  (163)  (8)Special income from equity investment  3,891   —   —   —   —   3,891   — BOLI death benefits  —   95   —   —   162   —   162 Total non-interest income adjustments (H) $3,794  $(1,452) $1,509  $1,827  $1,174  $3,794  $1,174                Non-interest expense:              FDIC special assessment  —   —   —   2,260   —   —   — Total non-interest expense adjustments (I) $—  $—  $—  $2,260  $—  $—  $—                  Home BancShares, Inc.  Non-GAAP Reconciliations  (Unaudited)              Quarter Ended  Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024TANGIBLE BOOK VALUE PER COMMON SHARE          Book value per common share: (A/B) $20.40  $19.92  $19.91  $19.30  $18.98 Tangible book value per common share: ((A-C-D)/B)  13.15   12.68   12.67   12.08   11.79            Total stockholders' equity (A) $4,042,555  $3,961,025  $3,959,789  $3,855,503  $3,811,401 End of period common shares outstanding (B)  198,206   198,882   198,879   199,746   200,797 Goodwill (C)  1,398,253   1,398,253   1,398,253   1,398,253   1,398,253 Core deposit and other intangibles (D)  38,280   40,327   42,395   44,490   46,630            TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS          Equity to assets: (B/A)  17.58%  17.61%  17.35%  16.82%  16.69%Tangible common equity to tangible assets: ((B-C-D)/(A-C-D))  12.09%  11.98%  11.78%  11.23%  11.06%           Total assets (A) $22,992,203  $22,490,748  $22,823,117  $22,919,905  $22,835,721 Total stockholders' equity (B)  4,042,555   3,961,025   3,959,789   3,855,503   3,811,401 Goodwill (C)  1,398,253   1,398,253   1,398,253   1,398,253   1,398,253 Core deposit and other intangibles (D)  38,280   40,327   42,395   44,490   46,630 

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