Home BancShares Files Q3 2024 10-Q

TL;DR

**HOME BancShares Q3 10-Q filed. Check financials.**

AI Summary

Home BancShares Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the third quarter and year-to-date periods.

Why It Matters

This filing provides investors with crucial financial data for Home BancShares Inc., enabling them to assess the company's performance and make informed investment decisions.

Risk Assessment

Risk Level: medium — As a financial institution, Home BancShares Inc. is subject to various market, credit, and regulatory risks inherent in the banking sector.

Key Players & Entities

• HOME BANCSHARES INC (company) — Filer of the 10-Q
• 20240930 (date) — Period of report for the 10-Q
• 20241101 (date) — Filing date of the 10-Q
• AR (location) — State of incorporation
• 719 HARKRIDER (address) — Business and mailing street address
• CONWAY (location) — City for business and mailing address
• 72032 (zip_code) — ZIP code for business and mailing address
• 501-339-2929 (phone_number) — Business phone number

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-20240930.htm (10-Q) — 5070KB
• homb-20240930xexx15.htm (EX-15) — 3KB
• homb-20240930x10qexx311.htm (EX-31.1) — 9KB
• homb-20240930x10qexx312.htm (EX-31.2) — 9KB
• homb-20240930x10qexx321.htm (EX-32.1) — 4KB
• homb-20240930x10qexx322.htm (EX-32.2) — 4KB
• 0001331520-24-000178.txt ( ) — 22803KB
• homb-20240930.xsd (EX-101.SCH) — 93KB
• homb-20240930_cal.xml (EX-101.CAL) — 153KB
• homb-20240930_def.xml (EX-101.DEF) — 469KB
• homb-20240930_lab.xml (EX-101.LAB) — 1032KB
• homb-20240930_pre.xml (EX-101.PRE) — 782KB
• homb-20240930_htm.xml (XML) — 5971KB

Financial Statements

Financial Statements Consolidated Balance Sheets – September 30, 2024 (Unaudited) and December 31, 2023 4 Consolidated Statements of Income (Unaudited) – Three and nine months ended September 30, 2024 and 2023 5 Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three and nine months ended September 30, 2024 and 2023 6 Consolidated Statements of Stockholders' Equity (Unaudited) – Three and nine months ended September 30, 2024 and 2023 7 -8 Consolidated Statements of Cash Flows (Unaudited) – Nine months ended September 30, 2024 and 2023 9 Condensed Notes to Consolidated Financial Statements (Unaudited) 10 -49 Report of Independent Registered Public Accounting Firm 50 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 51 -86 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 86 -88 Item 4:

Controls and Procedures

Controls and Procedures 88 -89 Part II: Other Information Item 1:

Legal Proceedings

Legal Proceedings 89 Item 1A:

Risk Factors

Risk Factors 89 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 89 Item 3: Defaults Upon Senior Securities 89 Item 4: Mine Safety Disclosures 89 Item 5: Other Information 89 Item 6: Exhibits 90 -91

Signatures

Signatures 92 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) September 30, 2024 December 31, 2023 (Unaudited) Assets Cash and due from banks $ 265,408 $ 226,363 Interest-bearing deposits with other banks 752,269 773,850 Cash and cash equivalents 1,017,677 1,000,213 Fed funds sold 6,425 5,100 Investment securities — available-for-sale, net of allowance for credit losses of $ 2,195 and $ 2,525 at September 30, 2024 and December 31, 2023, respectively (amortized cost of $ 3,529,325 and $ 3,840,927 at September 30, 2024 and December 31, 2023, respectively) 3,270,620 3,507,841 Investment securities — held-to-maturity, net of allowance for credit losses of $ 2,005 at both September 30, 2024 and December 31, 2023 1,277,090 1,281,982 Total investment securities 4,547,710 4,789,823 Loans receivable 14,823,979 14,424,728 Allowance for credit losses ( 312,574 ) ( 288,234 ) Loans receivable, net 14,511,405 14,136,494 Bank premises and equipment, net 388,776 393,300 Foreclosed assets held for sale 43,040 30,486 Cash value of life insurance 219,353 214,516 Accrued interest receivable 118,871 118,966 Deferred tax asset, net 176,629 197,164 Goodwill 1,398,253 1,398,253 Core deposit intangibles 42,395 48,770 Other assets 352,583 323,573 Total assets $ 22,823,117 $ 22,656,658 Liabilities and Stockholders' Equity Deposits: Demand and non-interest-bearing $ 3,937,168 $ 4,085,501 Savings and interest-bearing transaction accounts 10,966,426 11,050,347 Time deposits 1,802,116 1,651,863 Total deposits 16,705,710 16,787,711 Securities sold under agreements to repurchase 179,416 142,085 FHLB and other borrowed funds 1,300,750 1,301,300 Accrued interest payable and other liabilities 238,058 194,653 Subordinated debentures 439,394 439,834 Total liabilities 18,863,328 18,865,583 Stockholders' equity: Common stock, par value $ 0.01 ; shares authorized 300,000,000 in 2024 and 2023; shares issued and outs

View Full Filing

View this 10-Q filing on SEC EDGAR