Home BancShares, Inc. Increases Share Repurchase Program
January 25 2021 - 1:00PM
Home BancShares, Inc. (Nasdaq: HOMB) (“Home” or “the Company”),
parent company of Centennial Bank (“Centennial”), announced today
that the Board of Directors on January 22, 2021 authorized an
increase of 20,000,000 in the number of shares of the Company’s
stock available under its common stock repurchase program which was
approved by the Board in January 2008 and most recently amended in
January 2019. As of December 31, 2020, a total of approximately
3,800,000 shares remained available for repurchase under the
existing repurchase authorization which will increase to
approximately 23,800,000 shares available for repurchase with this
authorization.
“The amount of capital that the corporation has
generated gives us the ability to pull any or all of the capital
levers that are available to us,” said John Allison, Home
BancShares, Inc. Chairman. “We will pull the appropriate lever at
the appropriate time. This strategic move allows us to be prepared
for the future.”
This release may contain 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,
real estate values and unemployment; disruptions, uncertainties and
related effects on our business and operations as a result of the
ongoing coronavirus (COVID-19) pandemic and measures that have been
or may be implemented or imposed in response to the pandemic,
including the impact on, among other things, credit quality and
liquidity; the ability to identify, complete and successfully
integrate new acquisitions; legislative and regulatory changes and
risks and expenses associated with current and future legislation
and regulations, including those in response to the COVID-19
pandemic; technological changes and cybersecurity risks; the
effects of changes in accounting policies and practices, including
from the adoption of the current expected credit loss (CECL) model
on January 1, 2020; changes in governmental monetary and fiscal
policies; political instability; competition from other financial
institutions; potential claims, expenses and other adverse effects
related to current or future litigation, regulatory examinations or
other government actions; 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, 2019, filed with the SEC
on February 26, 2020, and our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2020, filed with the SEC on November 5,
2020.
Home BancShares, Inc. is a bank holding company,
headquartered in Conway, Arkansas. Its 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.”
FOR MORE INFORMATION CONTACT:Donna
Townsell Investor Relations
Officer (501) 328-4625
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