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Centennial Bank parent reports year-end profit up 5%

By Christina Huynh

This article was published January 16, 2014 at 10:05 a.m.

Centennial Bank parent company Home BancShares Inc. reported Thursday a 2013 profit of $66.5 million, up about 5 percent from the $63 million earned in 2012.

That came to diluted earnings per share of $1.14, up 3 cents from the $1.11 per share in 2012, the Conway-based lender said. Diluted earnings per share is a calculation that divides the company's profits by how many shares that have been and might be issued.

In late October, the Home BancShares closed its purchase of Liberty Bancshares Inc. of Jonesboro. Excluding the $18.4 million merger expenses of that acquisition, diluted earnings per share came to $1.33, a gain of 20 cents, or 17.7 percent, over 2012, the company said.

The company turned a fourth-quarter profit of $13 million, or 19 cents diluted earnings per share, lower than its third-quarter net income of $18.4 million and down 23 percent from the year-ago period of $16.9 million, or 30 cents per share, company officials said.

Centennial Bank has 148 branches in Arkansas, Florida and Alabama.

Company executives will hold a conference call to discuss its earnings report at 1 p.m. Thursday. Those interested in listening in may call (888) 317-6016 or visit the company's website, www.homebancshares.com.

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