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Tuesday, September 02, 2014, 4:50 a.m.
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Centennial Bank parent posts record 2nd-quarter profit

By ArkansasOnline

This article was published July 17, 2014 at 8:34 a.m.

Conway-based Home BancShares Inc. on Thursday, the owner of Centennial Bank, announced a record second-quarter profit of $28.4 million, or diluted earnings of 43 cents per share, a 60.5 percent increase from the previous second quarter’s profit of $17.7 million, or 31 cents per share.

That’s a slight bump from the bank’s first-quarter profit of $27.3 million, or 42 cents per diluted share.

"I am pleased to report the Company has again accomplished another record quarter," Chairman John Allison said in a statement. “During the upcoming quarters, we recognize there is a need for organic loan growth. We are encouraged by the opportunities we have in front of us because we currently have the largest unfunded loan pipeline in our history.”

Home BancShares CEO Randy Sims said the second quarter, which ended June 30, was the 13th consecutive quarter the company has posted a record profit, excluding the effect of merger expenses.

During the quarter, the firm closed or merged four Arkansas and two Florida locations. The company also has plans to add a de novo branch in Naples, Fla., scheduled to open this quarter, according to the statement.

The company operates 83 branches in Arkansas, 50 in Florida and seven in Alabama.

Executives will conduct a conference call to review its earnings report at 1 p.m. Those interested may listen to the call by dialing (877) 508-9586 and using the passcode 10048164 or by visiting the company’s website at www.homebancshares.com.

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