Home BancShares, Inc. Ranked #1 Two Years in a Row on Forbes List of Best Banks in America
January 25 2019 - 8:15AM
Home BancShares, Inc. (NASDAQ GS: HOMB) (“Home” or “the
Company”, parent company of Centennial Bank, has been ranked #1 on
the Forbes 2019 “Best Banks in America” list for the second
consecutive year. The Company first achieved the top ranking
in 2018, which was an improvement from #8 in 2017’s rankings and
#15 in 2016’s rankings. This is the tenth consecutive year
Forbes has ranked America’s largest banks, using financial data
from S&P Global Market Intelligence.
“Being ranked the #1 bank in the country by
Forbes for two years in a row is among the top highlights of Home,”
said John Allison, Chairman. “We are proud to be recognized
with this distinct honor again for 2019. This achievement is
a direct reflection of the commitment of our bankers, the loyalty
of our customers and of the fantastic communities we
serve.”
Home BancShares scored in the top 15 in six of
the ten metrics, including third overall for its efficiency ratio
of 37% (the median is 59% for the top 100). “Receiving such
accolades from Forbes based on our performance metrics, especially
during the last two years as the financial sector has
underperformed in the stock market, confirms the strength and
stability of our bank,” added Allison.
Forbes magazine’s 100 largest U.S. banks range
in size from $9.8 billion to $2.6 trillion in assets and were
ranked based on ten, equally weighted metrics related to growth,
profitability, capital adequacy and asset quality, using data based
on regulatory filings for the period ending September 30,
2018. These metrics included return on average tangible
common equity, return on average assets, net interest margin,
efficiency ratio and net charge-offs as a percent of total loans.
Forbes also factored in non-performing assets as a percent of
assets, Common Equity Tier 1 ratio, risk-based capital ratio and
reserves as a percent of non-performing assets.
To see the full article and Forbes ranking of
the 100 largest banks in America, visit
https://www.forbes.com/sites/kurtbadenhausen/2019/01/16/americas-best-banks-2019/#200c8e874583.
Home BancShares, Inc. is a bank holding company,
headquartered in Conway, Arkansas. Our wholly-owned subsidiary,
Centennial Bank, provides a broad range of commercial and retail
banking plus related financial services to businesses, real estate
developers, investors, individuals and municipalities. Centennial
Bank has branch locations in Arkansas, Florida, South Alabama and
New York City. The Company's common stock is traded through the
NASDAQ Global Select Market under the symbol “HOMB.”
This release contains forward-looking statements
regarding the Company's plans, expectations, goals and outlook for
the future. Statements in this press release that are not
historical facts should be considered forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements of this type speak only as of
the date of this news release. By nature, forward-looking
statements involve inherent risk and uncertainties. Various factors
could cause actual results to differ materially from those
contemplated by the forward-looking statements. These
factors, include, but are not limited to, the following:
economic conditions, credit quality, interest rates, loan demand,
the ability to successfully integrate new acquisitions, increased
regulatory requirements as a result of our exceeding $10 billion in
total assets, legislative and regulatory changes, technological
changes and cybersecurity risks, competition from other financial
institutions, changes in the assumptions used in making the
forward-looking statements, and other factors described in reports
we file with the Securities and Exchange Commission (the “SEC”),
including those factors set forth in our Annual Report on Form 10-K
for the year ended December 31, 2017 filed with the SEC on February
27, 2018.
FOR MORE INFORMATION CONTACT:
Donna TownsellDirector of Investor Relations(501) 328-4625
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