Conway-based Home BancShares Inc., the parent company of Centennial Bank, announced Thursday first-quarter net income of $17.5 million, an increase of about 20 percent from the net income of $14.5 million earned in the same quarter of 2012.
In a statement, the lender said that amounted to diluted earnings per share of 62 cents, compared with 51 cents the year before.
"This is the eighth consecutive quarter we have reported the most profitable quarter in the Company's history," Chairman John Allison said in the statement. "The Company has demonstrated an improvement in our non-performing non-covered loans and assets this quarter plus a very impressive return on average assets of 1.70% for the first quarter of 2013."
The company also said it plans in the second quarter to open a loan production office in Pensacola, Fla., which will convert to a full-service branch shortly thereafter.
The company's management will hold a conference call to review the earnings report at 1 p.m. Those interested may listen to the call by dialing (888) 317-6016 and by asking for the Home BancShares conference call.
A replay of the call will be available until 8 a.m. April 26 by dialing (877) 344-7529 and entering the code 10026428. The call will also be available for a year live or in recorded version on the company’s website, www.homebancshares.com.
Home BancShares operates 46 Centennial Bank branches in Arkansas, 54 in Florida and 7 in Alabama.