Home BancShares, Inc., headquartered in Conway, Arkansas, is a bank holding company with its primary operating subsidiary, Centennial Bank, offering commercial and retail banking services across several states including Arkansas, Texas, and Florida.

For the fourth quarter of 2024, Home BancShares reported net income of $100.6 million, an increase from $86.2 million in the same quarter of the previous year, marking a rise of 16.2%. The adjusted net income for the quarter stood at $99.8 million, compared to $92.2 million in Q4 2023, reflecting a 8.2% year-over-year increase. The diluted earnings per share for the quarter were $0.51, up from $0.43 a year earlier.

Total revenue for Q4 2024 was $258.4 million, compared to $245.6 million in Q4 2023, indicating an increase of 5.4%. The company’s revenue for 2024 totaled $1.02 billion, surpassing the billion-dollar mark for the first time in its history.

Home BancShares noted an improvement in its net interest margin, which grew to 4.39% in Q4 2024 from 4.17% in the same period last year. The pre-tax, pre-provision net income (PPNR), a non-GAAP measure, for the quarter was $146.2 million, up from $118.4 million in Q4 2023.

Total loans receivable at the end of Q4 2024 were reported at $14.76 billion, slightly down from $14.82 billion at the end of Q3 2024. Total deposits increased to $17.15 billion, up from $16.71 billion in Q3 2024, showing a quarter-over-quarter growth of 2.6%.

The company’s efficiency ratio was reported at 42.24% for Q4 2024, improving from 50.64% a year prior. The adjusted efficiency ratio was 42.00% in Q4 2024 compared to 46.43% last year. Return on average assets (ROA) increased to 1.77% from 1.55% in Q4 2023, while return on equity (ROE) stood at 10.13%, up from 9.36% a year earlier.

Non-interest income for the fourth quarter totaled $41.2 million, with the company noting $11.7 million from service charges on deposit accounts and $9.9 million from other service charges and fees. Non-interest expenses were reported at $112.2 million for the quarter, a slight decrease compared to $127.2 million in Q4 2023.

The allowance for credit losses on loans ended Q4 2024 at $275.9 million, representing 1.87% of total loans, down from 2.11% in Q3 2024. The non-performing assets as a percentage of total assets remained steady at 0.63%, unchanged from the prior quarter.

Overall, Home BancShares exhibited growth across several financial metrics in Q4 2024, highlighted by record revenue and earnings figures.