Home BancShares Inc. of Conway on Thursday reported record quarterly profit of $43.6 million, up 22 percent from $35.7 million in the same quarter last year.
It was the 22nd straight quarter of record quarterly performance for the parent company of Centennial Bank. Third-quarter diluted earnings per share reached 31 cents, up from 26 cents diluted earnings per share (split adjusted) in the same quarter last year.
"We are pleased with the earnings performance this quarter, excluding expenses incurred to buy-out the FDIC loss share portfolio," John Allison, chairman, said in a news release. "For the quarter, the company reported outstanding results for diluted earnings per share excluding the FDIC loss share buy-out of 33 cents per share. We continue to see growth in loans and earnings and are committed to finding more efficient ways to provide exceptional service to our customers."
During the quarter, the company reported $90.1 million in organic loan growth, a core efficiency ratio of 36.51 percent and a quarterly return on assets, excluding FDIC loss share buy-out, of 1.90 percent.
Total loans receivable were $7.11 billion at Sept. 30, compared to $6.64 billion at Dec. 31. Total deposits were $6.84 billion, compared to $6.44 billion, and total assets were $9.76 billion, compared to $9.29 billion.
During the quarter, the company added deposit operations to its loan production office in New York City and opened one branch location in Davie, Florida. During the fourth quarter of 2016, the company plans to close one Arkansas location.
The company has 77 branches in Arkansas, 59 branches in Florida, 6 branches in Alabama and one branch in New York City.