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Home BancShares posts record $63 million profit for ’12

By ArkansasOnline

This article was originally published January 17, 2013 at 8:36 a.m. Updated January 17, 2013 at 8:51 a.m.

Conway-based Home BancShares Inc., the parent company of Centennial Bank, announced Thursday record net income for the fourth quarter and full year of 2012.

The bank holding company posted annual net income of $63 million, up from $54.7 million in 2011. Diluted earnings per share for the year were $2.23, compared with $1.85 for 2011, a 20.5 percent increase, the firm said in a statement.

For the fourth quarter, the company recorded net income of $16.9 million, a 20 percent rise from the $14.2 million posted in the same quarter of 2011.

"The record net income reported for 2012 is an exceptional achievement for our Company," Chairman John Allison said. "The hard work this year to expand earnings was successful. Not only did we reach annual record earnings during 2012, but we also achieved record earnings each quarter consecutively during the year. Throughout the year, we continued to keep our traditionally strong capital levels considerably above the regulators' capital requirements. It is possible, therefore, to remain in a position to benefit from opportunistic deals as they are presented."

The company said it continues to evaluate opportunities for new branches but has made no firm commitments in that direction.

The firm noted that in December it closed two branches acquired in the Vision acquisition, one in Florida and one in Alabama, and shut one branch in south Arkansas earlier this month.

The company said it expects to close three or four branches in the Tallahassee, Fla., area early in the second quarter.

The company currently has 46 branches in Arkansas; 54 branches in Florida and 7 branches in Alabama.

The bank company’s management plans to conduct a conference call to review the earnings at 1:00 p.m. Interested parties may listen in by calling (877) 317-6789 and asking for the Home BancShares conference call, the firm said.

A replay of the call will be available until 8 a.m. Jan. 25 at (877) 344-7529 by entering the code 10022263.

The call will also available live or in recorded version on the company's website, www.homebancshares.com.

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