Home BancShares 1st Quarter Earnings

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Home BancShares, Inc. (NASDAQ:HOMB), parent company of Centennial Bank, today announced a quarterly profit of $46.9 million for the first quarter of 2017 compared to $41.4 million, for the same quarter in 2016. 

Diluted earnings per share for the first quarter of 2017 was $0.33 per share compared to $0.29 per share (split adjusted) for 2016, representing an increase of $0.04 per share or 13.8% for the first quarter of 2017 when compared to the same quarter in the prior year.  Excluding the $6.7 million of merger expenses associated with the recently completed acquisitions of Giant Holdings, Inc. (“GHI”) and The Bank of Commerce (“Commerce”) offset by $3.8 million of one-time non-taxable gain on acquisition associated with Commerce, diluted earnings per share for the first quarter of 2017 remained $0.33 per share.

“We were active on many fronts during the first quarter of 2017, and we delivered solid quarterly financial results in spite of the additional expenses associated with the recently closed acquisitions of GHI and Commerce,” said John Allison, Chairman.  “We also look forward to the completion of the merger with Stonegate Bank in Pompano Beach, Florida later this year and the opportunity to welcome them to the Home BancShares family.”  MORE

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