Centennial Bank parent company Home BancShares Inc. reported Thursday that it turned a third-quarter profit of $18.4 million, up 14 percent from the $16.1 million earned in the same quarter of 2012. It was the 10th consecutive quarter the Conway-based bank posted a record net income, company executives said in a statement.
That came to earnings per share of 33 cents, up from 28 cents in the year-ago period, the lender said. Total revenue came to $58.49 million, up from $54.17 million in the same period of 2012.
"Home BancShares has achieved yet another record quarter for net income, making it the tenth consecutive quarter to meet this outstanding accomplishment," Chairman John Allison said in the statement. "Our strong capital levels continue to remain considerably above the regulators' capital requirements, while our strong reserves have placed us in a position to partake in an opportunity like the upcoming Liberty Bank market acquisition."
Upon the completion of the Liberty Bank merger, which expected to be approved at the banks' shareholder meetings Wednesday, Centennial will have 46 additional branches in Arkansas, the bank said. It currently holds 46 branches in Arkansas, 54 branches in Florida and 7 branches in Alabama.
Company executives plan to hold a conference call to review their earnings report at 1 p.m. Thursday. Those interested may listen in by dialing (888) 317-6016. A replay will be available by phone until 8 a.m. Oct. 25 at (877) 344-7529 using the pass code 10033818 or on the company's website, www.homebancshares.com.