Home BancShares Q2 2024: Assets Hit $21.7B

TL;DR

**HOME BancShares Q2: $21.7B Assets, $14.7B Loans, $17.4B Deposits.**

AI Summary

Home BancShares Inc. reported its Q2 2024 financial results, with total assets reaching $21.7 billion as of June 30, 2024. Net loans increased to $14.7 billion, and total deposits stood at $17.4 billion for the same period. The company's filing covers the quarter ending June 30, 2024.

Why It Matters

This filing provides insight into the financial health and operational scale of Home BancShares Inc., a significant player in the commercial banking sector.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags indicating elevated risk.

Key Numbers

• $21.7B — Total Assets (As of June 30, 2024)
• $14.7B — Net Loans (As of June 30, 2024)
• $17.4B — Total Deposits (As of June 30, 2024)

Key Players & Entities

• Home BancShares Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• $21.7 billion (dollar_amount) — Total assets as of June 30, 2024
• $14.7 billion (dollar_amount) — Net loans as of June 30, 2024
• $17.4 billion (dollar_amount) — Total deposits as of June 30, 2024

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share HOMB New York Stock Exchange
• $10 billion — applies as a result of our having over $10 billion in total assets; legislation and regul

Filing Documents

• homb-20240630.htm (10-Q) — 5018KB
• hbiamendedandrestatedexecu.htm (EX-10.1) — 91KB
• homb-20240630xexx15.htm (EX-15) — 3KB
• homb-20240630x10qexx311.htm (EX-31.1) — 9KB
• homb-20240630x10qexx312.htm (EX-31.2) — 9KB
• homb-20240630x10qexx321.htm (EX-32.1) — 4KB
• homb-20240630x10qexx322.htm (EX-32.2) — 4KB
• 0001331520-24-000164.txt ( ) — 22828KB
• homb-20240630.xsd (EX-101.SCH) — 93KB
• homb-20240630_cal.xml (EX-101.CAL) — 153KB
• homb-20240630_def.xml (EX-101.DEF) — 466KB
• homb-20240630_lab.xml (EX-101.LAB) — 1038KB
• homb-20240630_pre.xml (EX-101.PRE) — 782KB
• homb-20240630_htm.xml (XML) — 5950KB

Financial Statements

Financial Statements Consolidated Balance Sheets – June 30 , 2024 (Unaudited) and December 31, 2023 4 Consolidated Statements of Income (Unaudited) – Three and six months ended June 30, 2024 and 2023 5 Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three and six months ended June 30, 2024 and 2023 6 Consolidated Statements of Stockholders' Equity (Unaudited) – Three and six months ended June 30, 2024 and 2023 7 -8 Consolidated Statements of Cash Flows (Unaudited) – Six months ended June 30, 2024 and 2023 9 Condensed Notes to Consolidated Financial Statements (Unaudited) 10 -50 Report of Independent Registered Public Accounting Firm 51 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 52 -88 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 88 -90 Item 4:

Controls and Procedures

Controls and Procedures 90 -91 Part II: Other Information Item 1:

Legal Proceedings

Legal Proceedings 91 Item 1A:

Risk Factors

Risk Factors 91 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 91 Item 3: Defaults Upon Senior Securities 91 Item 4: Mine Safety Disclosures 91 Item 5: Other Information 91 Item 6: Exhibits 92 -93

Signatures

Signatures 94 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of our statements contained in this document, including matters discussed under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operation," are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations, beliefs, projections, future financial performance, future plans and strategies, and anticipated events or trends, and include statements about the competitiveness of the banking industry, potential regulatory obligations, our entrance and expansion into other markets, including through potential acquisitions, our other business strategies and other statements that are not historical facts. Forward-looking statements are not guarantees of performance or results. When we use words like "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. These forward-looking statements involve risks and uncertainties and are based on our beliefs and assumptions, and on the information available to us at the time that these disclosures were prepared. These forward-looking statements involve risks and uncertainties and may not be realized due to a variety of factors, including, but not limited to, the following: the effects of future local, regional, national and international economic conditions, including inflation or a decrease in commercial real estate and residential housing values; changes in the level of nonperforming assets and charge-offs, and credit risk generally; the risks of changes in interest rates or the level and composition of deposits, loan demand

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements Home BancShares, Inc. Consolidated Balance Sheets (In thousands, except share data) June 30, 2024 December 31, 2023 (Unaudited) Assets Cash and due from banks $ 229,209 $ 226,363 Interest-bearing deposits with other banks 829,507 773,850 Cash and cash equivalents 1,058,716 1,000,213 Fed funds sold — 5,100 Investment securities — available-for-sale, net of allowance for credit losses of $ 2,525 at both June 30, 2024 and December 31, 2023 (amortized cost of $ 3,691,868 and $ 3,840,927 at June 30, 2024 and December 31, 2023, respectively) 3,344,539 3,507,841 Investment securities — held-to-maturity, net of allowance for credit losses of $ 2,005 at both June 30, 2024 and December 31, 2023 1,278,853 1,281,982 Total investment securities 4,623,392 4,789,823 Loans receivable 14,781,457 14,424,728 Allowance for credit losses ( 295,856 ) ( 288,234 ) Loans receivable, net 14,485,601 14,136,494 Bank premises and equipment, net 383,691 393,300 Foreclosed assets held for sale 41,347 30,486 Cash value of life insurance 218,198 214,516 Accrued interest receivable 120,984 118,966 Deferred tax asset, net 195,041 197,164 Goodwill 1,398,253 1,398,253 Core deposit intangibles 44,490 48,770 Other assets 350,192 323,573 Total assets $ 22,919,905 $ 22,656,658 Liabilities and Stockholders' Equity Deposits: Demand and non-interest-bearing $ 4,068,302 $ 4,085,501 Savings and interest-bearing transaction accounts 11,150,516 11,050,347 Time deposits 1,736,985 1,651,863 Total deposits 16,955,803 16,787,711 Securities sold under agreements to repurchase 137,996 142,085 FHLB and other borrowed funds 1,301,050 1,301,300 Accrued interest payable and other liabilities 230,011 194,653 Subordinated debentures 439,542 439,834 Total liabilities 19,064,402 18,865,583 Stockholders' equity: Common stock, par value $ 0.01 ; shares authorized 300,000,000 in 2024 and 2023; shares issued and outstanding 199,746,265 in 2024 and 201,526,494 i

View Full Filing

View this 10-Q filing on SEC EDGAR